The
global hospital pharmaceuticals market was valued at USD 26.5 billion
in 2013 and is estimated to reach USD 11.6 billion by 2020 declining
with a CAGR of (10.5)% from 2014 to 2020.
The
report defines hospital pharmaceuticals as drugs that are exclusively
administered in hospital and professional healthcare facilities that
encompass both in-patient as well as out-patient departments.
Hospital pharmaceuticals market which had been experiencing slumps in
past three to four years due to economic slowdown, patent and
exclusivity loss of various orphan and blockbuster drugs is expected
to recover at a rapid pace. Over a decade there has been a
considerable rise in several chronic disorders that can only be
treated in hospital setting such as renal failure, canter, stroke,
Alzheimer's disease and angina which is expected to boost hospital
pharmaceuticals market in forthcoming years.
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According
to World Health Organization (WHO), coronary heart diseases across
the globe accounts for over 7.5 million mortalities annually.
Moreover as per an analysis by Centers for Disease Control and
Prevention (CDC), each year stroke kills approximately 130,000
Americans of which about 87% of them are ischemic strokes.
Approximately 5.1 million people in the United States suffered from
heart failure in 2013. The aforementioned statistics clearly depict
the latent potential for growth owing to substantial rise in various
disease indications which in last two years accounted for major
source of revenue for hospital pharmacies.
The
report studies the hospital pharmaceuticals market from two
perspectives: major therapeutic class and indications. Market by
therapeutic class includes all major drug classes that are majorly
prescribed and sold in hospital pharmacies. Market by indication is
segmented into six major disorders: cardiology, oncology, nephrology
and urology, neurology, pain and anti-infectives. Among the mentioned
indications, oncology and cardiology are key markets share declining
at a CAGR of (13.01)% and (9.38)% respectively. Decline in growth
rate for both the markets is majorly attributed to increasing number
of drugs losing their exclusivity during the forecast period
(2014-2020). Billion dollar cardiovascular medicines that are getting
off patent include Exforge HCT
(amlodipine/hydrochlorothiazide/valsartan), Benicar HCT
(hydrochlorothiazide and olmesartan) and VESIcare (Solifenacin
Succinate) in 2014, 2016 and 2018 respectively. Furthermore various
billion dollar oncology drugs which will get off patent in next 5
years comprise Gleevec (Imatinib Mesylate), Tarceva (erlotinib),
Zytiga (Abiraterone Acetate) and Velcade (bortezomib).
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Rise
in emergency department visits and increased per capita spending of
patients across the globe are some of the major drivers escalating
the growth of the overall market. Emergency department visits
accounted for 7.4% of the total hospital visits in the U.S. in 2011
compared to 2.3% in 2010. Healthcare Cost and Utilization Project
(HCUP) statistical brief data estimated that emergency department
discharges increased five times (359 patients per 1,000 people) in
the U.S. in 2011 compared to 2010. A large number of new molecular
entities are also anticipated to be launched during the forecast
period. These primarily include therapeutic areas such as cancer,
neurological disorders, infections and cardiovascular diseases. All
these factors would increase the global spending on medicines.
Moreover, global spending on medicines is expected to increase from
USD 1 trillion in 2014 to USD 1.2 trillion by 2017. Such factors are
expected to boost the market for hospital pharmaceuticals market
especially in case of generic drugs.
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Geographically,
North America market accounted for the largest share in 2013 due to
2013 due to favorable reimbursement policies, high awareness, rising
per capita income, increased spending on the healthcare and greater
depth of marketing efforts by key players. Total spending on
healthcare in the U.S. increased from USD 320 million in 2012 to USD
330 million in 2013 depicting an increase of per capita spending by
1%. Presence of sound intellectual property in the European Union
countries and presence of high quality pharmaceutical research
organizations are among the few prominent drivers. Whereas,
fragmented pricing system and improper reimbursement scenario and
regulatory framework for clinical trials are key restraints to the
European hospital pharmaceuticals market. Asia Pacific and Rest of
the World are among the fastest growing markets for hospital
pharmaceuticals due to the presence of large population base, aging
population suffering from chronic diseases and increasing disposable
income.
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Leading
market players in this market include AstraZeneca plc, Bayer AG, Eli
Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson, Merck
& Co., Inc., Pfizer, Inc., Sanofi -Aventis.
The
hospital pharmaceuticals market is segmented as follows:
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Global
Hospital Pharmaceuticals Market, by Major Therapeutic Class
Cardiology
Anti-Adrenergic Drugs
Calcium
Channel Blockers
Diuretic
Drugs
Anti-Arrhythmic Drugs
Others
Oncology
Alkylating
Agents
Anti-Metabolites
Hormonal
Agents
Immunomodulating Agents
Miscellaneous Drugs
Nephrology
and Urology
Diuretic
Agents
Anti-Hypertensive Agents
Phosphate
Binders
Anticholinergic Drugs
5-Alpha
Reductase Inhibitors
Neurology
Anti-Anxiety
Agents
Detail2Anti-Migraine Drugs
Antidepressant Drugs
Anti-Psychotic Drugs
Pain
Anticonvulsant Drugs
Anesthetic
Drugs
Non-Steroidal
Anti-Inflammatory Drugs (NSAIDs)
Opioids
Non-Narcotics Analgesic Drugs
Infection
Antibacterial Drugs
Antiviral
Drugs
Antifungal
Drugs
Antiparasite
Drugs
Global
Hospital Pharmaceuticals Market, by Major Indications
Cardiology
Coronary
Heart Diseases
Stroke
High
Blood Pressure
Heart
Failure
Others
Oncology
Lung
Cancer
Breast
Cancer
Colorectal
Cancer
Prostate
Cancer
Others
Nephrology
and Urology
Acute
Kidney Failure
Chronic
Kidney Diseases
Glomerular
Diseases
Diabetes
Others
Neurology
Epilepsy
Alzheimer;s
Disease
Parkinson;s
Disease
Multiple
Sclerosis
Others
Pain
Neuropathic
Pain
Fibromyalgia
Osteoarthritis
Rheumatoid
Arthritis
Cancer
Pain
Infection
Detail1Tuberculosis
Pneumonia
Hepatitis
A
Hepatitis
B
Candida
Infection
Fungal
Meningitis
Shigellosis
Amoebiasis
Other
Global
Hospital Pharmaceuticals Market, by Geography
North
America
Europe
Asia
Pacific
Rest
of the World (RoW)
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