Global Hospital Pharmaceuticals Market Fueled by Greater Awareness about Branded Drugs Health Articles | May 26 Authentic Raul Mondesi Jersey , 2016
Hospital pharmaceuticals refer to medications and drugs that are primarily sold at clinics, hospitals, and other healthcare facilities. Rising incidences of acute and chronic diseases all over the world is the main factor that drives the market for hospital pharmaceuticals.
Hospital pharmaceuticals are medications and drugs administered to patients in hospital settings that include both inpatient and outpatient treatment. Drugs under hospital pharmaceuticals range from paracetamol used to ease pain and minor aches to prescription drugs prescribed for several chronic diseases such as blood pressure, diabetes, and cancer. The hospital pharmaceuticals market has been largely affected due to the economic slowdown and expiration of patents for major blockbuster as well as branded drugs.
However, increasing prevalence of diseases, affordability Authentic Frank White Jersey , rising awareness, and health care spending are some of the factors driving the hospital pharmaceuticals market in emerging economies in Asia Pacific and Rest of the World. The global hospital pharmaceuticals market was valued at US$ 197.3 Bn in 2014 and is estimated to reach US$ 280.3 Bn by 2023, expanding at a CAGR of 3.9% during the forecast period from 2015 to 2023.
The global hospital pharmaceuticals market has been studied from two perspectives: therapeutic class and indications. Based on therapeutic class, the hospitals pharmaceuticals market has been segmented into cardiology, oncology, neurology, pain Authentic Willie Wilson Jersey , and infection. The cardiology therapeutic area has been divided further into dyslipidemia drugs, antihypertensive drugs, and others (anti-coagulants and anti-arrhythmic drugs). The oncology segment accounted for the largest share of over 35% of the hospital pharmaceuticals market in 2014. Moreover, this segment is expected to register the highest growth rate during the forecast period from 2015 to 2023.聽
Immunomodulating agents was the largest sub-segment of the oncology segment in 2014. However, alkylating agents is likely to be the fastest growing segment during the forecast period from 2015 to 2023 due to their ability to demonstrate activity against cancer cells during every phase of its life cycle.
The market for hospital pharmaceuticals by indications is sub-segmented into cardiology, oncology, nephrology and urology Authentic Salvador Perez Jersey , neurology, pain and infection. Each of the aforementioned indications is further studied on the basis of the prominently occurring diseases. For instance, the market for cardiology is further categorized into stroke, high blood pressure, heart failure and other cardiovascular diseases such as arrhythmia and cardiomyopathy. Similarly the oncology therapeutic segment is further studied for lung cancer, breast cancer, colorectal cancer Authentic Lucas Duda Jersey , prostate cancer, and others (esophageal, stomach and liver cancer).聽
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Other indications have been segmented following a similar protocol. In terms of indication, prostate cancer was the largest segment of the hospital pharmaceuticals market in terms of revenue in 2014. According to the World Cancer Research Fund International, over 1.1 million cases of prostate cancer were recorded in 2012, accounting for around 8% of all new cancer cases and 15% of all cancers diagnosed in men. Increasing incidence of the disease is likely to lead to rise in demand for prostate cancer drugs.
Geographically, this market has been segmented into North America Authentic Billy Hamilton Jersey , Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). These have been further categorized into major countries. North America dominated the global hospital pharmaceuticals market due to high R&D activities, favorable reimbursement policies, and availability of advanced health care infrastructure.聽
Asia Pacific and Latin America constitute the key emerging markets for hospital pharmaceuticals due to rise in incidence of chronic diseases such as cardiovascular disease and cancer. Additionally, significant growth in medical tourism in Asia Pacific Authentic Alex Gordon Jersey , Africa, the Middle East, and Latin America is likely to boost the hospital pharmaceuticals market. Several multinational pharmaceutical companies are now looking toward the ‘pharmerging’ economies in Asia-Pacific due to their large population base, increasing disposable income, and an aging population suffering from various chronic and acute diseases.
Major players in the market include AstraZeneca plc, Bayer AG, Eli Lilly and Company Authentic Yordano Ventura Jersey , GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Inc., Pfizer, Inc., and Sanofi-Aventis.
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