The leading players in the global hospital pharmaceutical market held a share of 22.5% in 2014. The players, Novartis, Pfizer, Sanofi, Roche, and Merck & Co., have remained dominant in the overall market due to their well-planned, strategic partnerships with small and medium-sized local players to strengthen their pipeline. Furthermore, the development of new drugs will also help the companies remain relevant in the intense competition. “Shifting focus towards Asia Pacific will prove to be beneficial to the players in the global market as the region is undergoing a positive economic change that is characterized with rising disposable incomes and improving infrastructure,” states the lead author of the research report.
This 192 page report gives readers a comprehensive overview of the hospital pharmaceuticals market. Browse through 12 data tables and 43 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/hospital-pharmaceuticals-market.html
Rising Number of Heart Patients Catapults Cardiovascular Segment to Forefront
According to the research report, the opportunity in the global hospital pharmaceuticals market is expected to be worth US$280.3 bn by the end of 2023 from US$197.3 bn in 2014. The global market is anticipated to progress at a CAGR of 3.9% during the forecast period of 2015 to 2023. The global market is likely to witness North America in the lead as the regional market is anticipated to expand at a CAGR of 3.4% during the forecast years. The recovery of the pharmaceutical industry in North America and the rising per capita spending on health care are expected to boost the regional hospital pharmaceuticals market in the coming few years. Amongst the various types of indications being treated by hospital pharmaceuticals, the cardiovascular segment is anticipated to gain notable traction in the next few years. The high prevalence of cardiovascular diseases is expected to boost this segment at a 0.8% CAGR during the forecast years.
Demand for Hospital Pharmaceuticals Soars as Patents Cliff
The growing incidents of accidents, traumas, and other emergencies have spiked the demand for specialty drugs in hospitals across the globe. Additionally, growing prevalence of pneumonia, malaria, AIDS, and tuberculosis have also triggered a significant uptake of hospital pharmaceuticals in recent years. The growing number of cancer cases have also accelerated the consumption of hospital pharmaceuticals. The oncology segment includes drugs such as alkylating agents, anti-metabolites, hormonal agents, and immunomodulating agents. These pharmaceuticals are used for treating lung, breast, colorectal, and prostate cancer. A sudden jump in the number patients suffering from cardiovascular diseases has also augmented the demand for related hospital pharmaceuticals. All in all, growing cases of chronic conditions are responsible to the rising consumption of these pharmaceuticals
The looming patent expiry for blockbuster drugs such as Lyrica (pregabalin), Nucynta (Tapentadol), Avastin (bevacizumab), and Alimta (Pemetrexed) has created a promising ground for the entry of generic drugs. This emerging trend is expected to improve the affordability of several hospital pharmaceuticals for the low-income groups and thus result in increased spending. The high adoption rate of telemedicine technology across the healthcare sector to reach out of patients in remote locations has also proved to be a critical growth factor for the global hospital pharmaceutical market.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving hospital pharmaceuticals market during 2015 - 2023: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3535
Preference for Home Care Reduces Chances for Sale of Hospital Pharmaceuticals
Though a perspective suggests that patent expirations could benefit the overall market, it is also logical to conclude that patent cliff could result in reduced sales and thus lesser revenues for certain drugs. Significant patent expirations are likely to hamper the global market during the forecast period. Furthermore, growing preference for home care has reduced hospital visits to a large degree, which has made a noticeable negative impact on the demand for hospital pharmaceutical in recent years.
The review is based on Transparency Market Research’s report, titled “Hospital Pharmaceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
This 192 page report gives readers a comprehensive overview of the hospital pharmaceuticals market. Browse through 12 data tables and 43 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/hospital-pharmaceuticals-market.html
Rising Number of Heart Patients Catapults Cardiovascular Segment to Forefront
According to the research report, the opportunity in the global hospital pharmaceuticals market is expected to be worth US$280.3 bn by the end of 2023 from US$197.3 bn in 2014. The global market is anticipated to progress at a CAGR of 3.9% during the forecast period of 2015 to 2023. The global market is likely to witness North America in the lead as the regional market is anticipated to expand at a CAGR of 3.4% during the forecast years. The recovery of the pharmaceutical industry in North America and the rising per capita spending on health care are expected to boost the regional hospital pharmaceuticals market in the coming few years. Amongst the various types of indications being treated by hospital pharmaceuticals, the cardiovascular segment is anticipated to gain notable traction in the next few years. The high prevalence of cardiovascular diseases is expected to boost this segment at a 0.8% CAGR during the forecast years.
Demand for Hospital Pharmaceuticals Soars as Patents Cliff
The growing incidents of accidents, traumas, and other emergencies have spiked the demand for specialty drugs in hospitals across the globe. Additionally, growing prevalence of pneumonia, malaria, AIDS, and tuberculosis have also triggered a significant uptake of hospital pharmaceuticals in recent years. The growing number of cancer cases have also accelerated the consumption of hospital pharmaceuticals. The oncology segment includes drugs such as alkylating agents, anti-metabolites, hormonal agents, and immunomodulating agents. These pharmaceuticals are used for treating lung, breast, colorectal, and prostate cancer. A sudden jump in the number patients suffering from cardiovascular diseases has also augmented the demand for related hospital pharmaceuticals. All in all, growing cases of chronic conditions are responsible to the rising consumption of these pharmaceuticals
The looming patent expiry for blockbuster drugs such as Lyrica (pregabalin), Nucynta (Tapentadol), Avastin (bevacizumab), and Alimta (Pemetrexed) has created a promising ground for the entry of generic drugs. This emerging trend is expected to improve the affordability of several hospital pharmaceuticals for the low-income groups and thus result in increased spending. The high adoption rate of telemedicine technology across the healthcare sector to reach out of patients in remote locations has also proved to be a critical growth factor for the global hospital pharmaceutical market.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving hospital pharmaceuticals market during 2015 - 2023: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3535
Preference for Home Care Reduces Chances for Sale of Hospital Pharmaceuticals
Though a perspective suggests that patent expirations could benefit the overall market, it is also logical to conclude that patent cliff could result in reduced sales and thus lesser revenues for certain drugs. Significant patent expirations are likely to hamper the global market during the forecast period. Furthermore, growing preference for home care has reduced hospital visits to a large degree, which has made a noticeable negative impact on the demand for hospital pharmaceutical in recent years.
The review is based on Transparency Market Research’s report, titled “Hospital Pharmaceuticals Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”
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