Specialty Pharmacy Market to Grow Along with Advancing Medicine During the Forecast Period
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 - Global Industry Size, Share, Trends, Competition, Opportunity
and Forecast, 2016-2026” the global specialty pharmacy market would potentially project an
impressive growth in the forecast period, 2022-2026, with an impressive CAGR on
the account of increasing demands for the specialty medicine for the rare
diseases. Increasing instances of the rare disease is further driving the growth
of the global specialty pharmacy market in the upcoming five years. Moreover,
increased financial investment in the healthcare industry is also supporting
the growth of the global specialty pharmacy market in the next five years.
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, etc. 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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