What is Specialty Pharmacy?
Specialty Pharmacy is the segment of the pharmaceutical industry focused on serving the nation’s population with complex medical conditions, such as cancer, MS, hemophilia and other serious and life threatening illnesses. Specialty Pharmacy uses a patient-centered model to distribute injectable, infusible and oral drugs along with other costly, hard-to-manage therapies with a team approach designed to achieve optimal patient outcomes.
Industry Trends
Specialty pharmacy is a labor-intensive field and a growth industry for Michigan. Three of the top 10 drugs Diplomat provides today didn’t exist five years ago. There are hundreds of drugs in the specialty pharmacy pipeline and it is a likely scenario that half of the top 10 drugs the company will provide in five years are not on the market today. In general, the specialty pharmacy industry is in an explosive growth phase, with industry experts citing projected growth rates of 10–15%.
