Specialty Drug Distribution Market REPORT OVERVIEW
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The global specialty drug distribution market size was expected to be USD 261790 million in 2021 and the market is projected to touch USD 743143.33 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 11.0% during the forecast (2024-2031). In the market study, our analysts have considered specialty drug distribution players such as AmerisourceBergen (U.S.), Mckesson (U.S.), Cardinal Health (U.S.), Phoenix (U.S.), Medipal Holdings (, Alliance Healthcare (U.K.), Sinopharm (China), Express Scripts (U.S.), Shanghai Pharma (China), Anda (U.S.), Jointown (China) and Max Pharma (India)
Specialty distributors or also commonly known as specialty traders. They are kept in charge of managing and super vising allocation of the drugs to minor specialty pharmacies and retail pharmacies. Furthermore, mainly of the leading specialties drugstores are now held by either big retailers or pharmacy benefit managers (PBMs). The characteristics of specialty drug distribution are to consult and follow-up with the physician, pre-emptive patient outreach for prescription replenishment, allotting of specialty medications and dispatching coordination and offering monetary aid to those patients in need of immediate healthcare.
The specialty drug distribution is divided into drug distributions for four types of diseases, which are oncology, rheumatoid arthritis, multiple sclerosis, hemophilia and others. Firstly, oncology is a subdivision of medication that contracts with the analysis, therapy, identification and avoidance of cancer cells in the body. Secondly, rheumatoid arthritis is an autoimmune and inflammatory ailment, which indicates that your immune system damages health-giving cells in your body by a fault, instigating inflammation and throbbing blister in the concerned parts of the body. It predominantly affects several joints at the same instance. Multiple sclerosis is the damages caused in the nerve and can hamper interaction among the brain and the body. It also creates several diverse symptoms, including vision loss, fatigue and weakened coordination. The symptoms, sternness and period can depend upon person to person as certain people may not showcase any indications for great time periods of their lives, while others experience ruthless aches and effects that can be persistent. Lastly, hemophilia is an uncommon condition in which the blood does not t clot in standard means because lack of enough blood-clotting proteins and clotting elements available. A symptom can if a person bleeds for an extended period post an injury. Additionally, it is instigated by mutations in one gene, that delivers directions for creating the clotting proteins required to structure a blood clot and the faulty genes significantly located in X chromosomes.
COVID-19 Impact: Focus Got Prioritized in the Counteracting of the COVID-19 Virus
The COVID-19 pandemic had produced negative impacts upon several industries and its market, as COVID-19 virus persistently spread globally. However, the specialty drug distribution market accounted drastic decline in production and supply levels for the specialty drug distribution because uncountable researches had been taking place in each pharmaceutical markets as to develop a cure for COVID-19. Furthermore, only a limited amount of specialty drug were supplied in the market as key focus was on the understanding and developing strategies to counteract the virus. Furthermore, globally the demand for COVID-19 vaccines overcame the demand for the specialty drugs, as COVID-19 cases were at a spike during that time period.
LATEST TRENDS
"Presentation of Oncology is Immunotherapy Rises Efficiency of Outcomes"
Immunotherapy is a category of cancer medication that supports immunity systems to battle cancer. Furthermore, the immune system assists your body to combat illnesses and other ailments. It consists of white blood cells in organs and tissues. Immunotherapy is a category of biological treatment. Moreover, the latest and newest trends in oncology is immunotherapy, which consumes treatments to augment a patient’s immune system to counteract the cancer. Immunotherapy drugs comes with the inclusion of monoclonal antibodies, cancer injections. Hence, give rise to higher demand from consumers in the hospital, clinics and drugstores.
Specialty Drug Distribution Market SEGMENTATION
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- By Type
Based on type; Oncology, rheumatoid arthritis, multiple sclerosis, hemophilia and others
Oncology is the leading type in this segment
- By Application
Based on application; Hospital and clinic, pharmacy and others
Hospital is the leading application in this segment
DRIVING FACTORS
"Steadfast Increase for Consumption of Specialty Drug Augments Market Growth"
Variated research and development programs are formulated to enhance the product and improve the specialty drug distribution. This is accounted for because of a risen amount of awareness in market has led to, the increase in the demand for the specialty drugs to combat against increasing spread of several illnesses and vital treatment of chronic diseases such cancer, rheumatoid arthritis, and multiple sclerosis. Furthermore, the main objectivity of the producers is to grind on improving the outcomes of consuming the specialty drug and circulating awareness of its uses. Hence, more people recognize and stimulate demand through higher specialty drug distribution. This leads towards the specialty drug distribution market growth.
"Improved Management in Logistics Facilities Boosts Market Growth"
The surges in the market are recorded due to the, better handling and management in logistics areas and inventories. As, the logistics is being provided with a more productive and efficient supply channel, to generate smooth specialty drug distribution to those in need of consumptions. Furthermore, this is beneficial for assisting the producers in the market for keeping up with the rising demand for the product as the products do not get held up, expire and get mixed up in inventories. Hence, which also grows the demand and supply while also boosting the specialty drug distribution market share.
RESTRAINING FACTORS
"Regulations of Leading Companies in the Market Hinders Market Growth"
Constraints implied upon the supply network is defying the growth of the market as leading producers are strategically plan this to minimize generic competitors by limiting generic businesses from obtaining samples brand product. Moreover, altering the inclination of consumers in favor of attaining the product at a reduced price and diversions in distribution networks are other restrains, which is expected to hamper the market growth over the projected period.
Specialty Drug Distribution Market REGIONAL INSIGHTS
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"North American Region Claims onto Leading Market Position "
North American region dominates over others in the industry, due to having several and growing amounts of demand for specialty drugs. This is accounted for because, this region experiences the highest number of people having chronic diseases. Moreover, this stimulates the specialty drug distribution circulation within the market and the region. Hence, this factor grows the overall demand and supply of the drugs in this region.
KEY INDUSTRY PLAYERS
"Key Players Look to Develop Supply Chains"
The key market players look to boost the amount of specialty drugs supply due to, the unprecedented rises of chronic diseases. Furthermore, they are keen or developing larger scale distribution channels to smoothen and fasten the allocation of the product to the consumers in diverse regions and markets, who are in instant need of the drugs. Additionally, the key players also advertise the products uses and raise awareness in the market.
List of Market Players Profiled
- AmerisourceBergen (U.S.)
- Mckesson (U.S.)
- Cardinal Health (U.S.)
- Phoenix (U.S.)
- Medipal Holdings (
- Alliance Healthcare (U.K.)
- Sinopharm (China)
- Express Scripts (U.S.)
- Shanghai Pharma (China)
- Anda (U.S.)
- Jointown (China)
- Max Pharma (India)
INDUSTRY DEVELOPMENT
June 2018: McKesson Corporation had obtained access to Medical Specialties Distributors, a leading supply chain supplier of medical supplies, biomedical services, and technology solutions.
REPORT COVERAGE
This report highlights types in the specialty drug distribution market and its latest trends along with driving and restraining factors within the market. Additionally, this report highlights the key industry players and their current and upcoming advancements within the leading region.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 261790 Million in 2021 |
Market Size Value By |
US$ 743143.33 Million by 2031 |
Growth Rate |
CAGR of 11% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the specialty drug distribution market expected to touch by 2031?
The global specialty drug distribution market is expected to touch USD 743143.33 million by 2031.
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What CAGR is the specialty drug distribution market expected to exhibit by 2031?
The specialty drug distribution market CAGR is expected to be 11.0% by 2031.
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Which are the driving factors of the specialty drug distribution market?
Steadfast increase for consumption of specialty drug augments market growth and improved management in logistics facilities boosts specialty drug distribution market growth
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Which are the top companies operating in the specialty drug distribution market?
AmerisourceBergen, Mckesson, Cardinal Health, Phoenix, Medipal Holdings, Alliance Healthcare, Sinopharm, Express Scripts, Shanghai Pharma, Anda, Jointown and Max Pharma
