The specialty pharma sector is growing with advancements in novel therapies, genomics, and personalized medicine. Developments in these areas are leading to more medical breakthroughs, more treatment options, and increased sales. Specialty drugs have significantly higher prices due to their complex manufacturing and distribution processes.
However, specialty trials typically have smaller patient populations, leading to concern over patient privacy. Sharing clinical trial data is often an important step in the drug development process. To overcome this challenge, specialty pharma companies must take great care to protect patient data.
How expansive is the specialty pharma sector? According to Pamela Buffone, contributor to the Pharmaceutical Executive Magazine:
"In the US market, the specialty sector accounted for 80% of dollar growth for the entire [pharmaceutical] industry. Leading the pack are drugs that treat hepatitis, autoimmune diseases, and cancer."
Many experts predict specialty drugs with continue to grow, becoming the preferred medication therapy for an increasing number of medical conditions. To learn more about this topic, check out MMIT's Perspectives on Integrated Specialty Networks.
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