Advancing pharmaceutical industry is driving the growth of global specialty pharmacy market in the forecast period, 2022-2026.
According to TechSci Research report, “Specialty Pharmacy Market
Consistent research and advanced technologies are further aiding the growth of the global specialty pharmacy market in the future five years. Increasing expenses of pharmaceuticals in the recent times and increasing number of patients demanding special medical attention for the deteriorating conditions due to rare diseases like cancer, rheumatoid arthritis, hemophilia, hepatitis C, multiple sclerosis,. is further supporting the growth of the global specialty pharmacy market in the forecast years, until 2026.
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The global specialty pharmacy market is segmented on the basis of ownership, therapy area, competitional landscape, and regional distribution. Based on ownership, the market is further fragmented into standalone, hospital-based, and others. Hospital-based ownership of the specialty pharmacy is anticipated to hold the largest revenue shares of the market in the upcoming five years on the backbone of high cost of setting up a specialty pharmacy.
The specialty pharmacy is set up for the storage and sale of specialty medicine that are responsible for the cure of rare and chronic diseases. Moreover, for the fulfilment of demand of the drugs for rare diseases and the patients suffering from the diseases are often under patient care from the hospitals. Thus, hospital-based specialty pharmacy is a necessity for growing healthcare services in the hospitals.
Stand-alone specialty pharmacy is also anticipated to register significant growth in the next five years on the grounds of increasing financial investments in the healthcare sector. Government is taking initiatives to invest in the growth of specialty pharmacies in various regions. Financial aids to the healthcare centers and pharmaceutical companies for the development of specialty pharmacy are further aiding to the growth of the global specialty pharmacy market in the future five years.
On the basis of therapy area, the market is bifurcated into cancer, rheumatoid arthritis, hemophilia, hepatitis C, multiple sclerosis, and others. Cancer pharmaceutical products are anticipated to register largest revenue shares of the market in the upcoming five years on the account of increasing instances of cancer patients. Rapidly increasing types of cancer patients and its tendency to retaliate even after treatments is anticipated to support the growth of the global specialty pharmacy market in the next five years.
A partial list for the market dominators of the specialty pharmacy market includes:
- CVS Health Corporation
- Express Scripts Holding Company (Accredo Health Group, Inc)
- Walgreens Boots Alliance, Inc. (AllianceRx)
- The Kroger Company
- Optum Inc. (Diplomat Pharmacy, Inc.)
- Humana Specialty Pharmacy
- AmerisourceBergen Corporation
- AHF Pharmacy
- Walmart Inc.
- BrightSpring Health Services
The market players are working towards forming a reputed distribution channel for pharmaceutical supplies for rare diseases.
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“North America is anticipated to dominate the market in the upcoming five years on the ground of well-established healthcare industry in the region. United States is expected to support the growth with its advanced healthcare services and one of the largest healthcare sectors in the world. Moreover, increasing number of specialty pharmacy in the region supports the growth in the next five years. The country also supports budding market players who are entering the market with its relaxed regulations. Furthermore, increasing acceptance and FDA approvals for the storage conditions is aiding the growth of the global specialty pharmacy in the global specialty pharmacy market in the future five years. New market players are advised to focus their resources and financial aids in the research institutes to improve the storage conditions of the specialty medicines,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Specialty Pharmacy Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026 Segmented By Ownership (Standalone, Hospital-Based, Others), By Therapy Area (Cancer, Rheumatoid Arthritis, Hemophilia, Hepatitis C, Multiple Sclerosis, Others), By Region”, has evaluated the future growth potential of global specialty pharmacy and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global specialty pharmacy market.
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