Hospital Pharmaceuticals Market By Industries (Anti-Hypertensives, Dyslipidaemia Drugs, Alkylating Agents, Anti-Metabolites, Hormonal Agents, Antidepressant Drugs, Miscellaneous Drugs, And Others), By Application (Cardiology, Oncology, Neurology, Oncology, Pain, Infection, Nephrology And Urology, And Others), By Region, Forecasts By 2030
- PUBLISHED ON
- 2024-07-06
- NO OF PAGES
- 251
- CATEGORY
- Healthcare & Life Sciences
Hospital Pharmaceuticals Market is presently worth USD 280.3 billion, and is anticipated to grow to a value of more than USD 366.38 billion by 2030, with a growing CAGR (compound annual growth rate) of over 3.9% from 2022 to 2030.
In many nations over the past ten years, the increase of pharmaceutical spending has surpassed the value of their GDP and other healthcare spending. High growth rates in the market for hospital medications were largely to blame for this increase in expenditures. Due to the rising incidence of cancer, it is anticipated that demand for oncology drugs would increase dramatically in the near future.
Oncology drugs now frequently cost twice as much for the same treatment in the US due to a new trend of hospitals purchasing physician offices. Hospitals attribute this increase in price to greater acquisition-related administrative and overhead expenditures.
Medications used in hospitals for inpatient or outpatient therapy are referred to as hospital pharmaceuticals. Pharmaceuticals used in hospitals include critical care and therapeutic medications for infections, the digestive tract and metabolism, cardiology, urology, neurology, sensory organs, the musculoskeletal and respiratory systems, dermatology, haematological, and other conditions.
Market Key Trends
Demand From Oncology Segment To Surge In Response To Growing Incidence Of Cancer
The oncology industry has surged to the top of the Global Hospital Pharmaceuticals Market, by therapeutic class, due to the rising incidence of cancer worldwide. The most common causes of cancer-related mortality now include stomach, breast, liver, and lung cancer.
Huge Increase In The Number Of Hospitals Will Aid The Market
Pharmaceutical companies will probably see a significant increase in growth potential in the Global Hospital Pharmaceuticals Market as the number of hospitals increases dramatically around the world.
Market Segment Assessment
Based By Industries
Anti-hypertensives
Dyslipidaemia drugs
Alkylating agents
Anti-metabolites
Hormonal agents
Antidepressant drug
Miscellaneous drugs
others
Based By Application
Cardiology
Oncology
Neurology
Pain
Infection
Nephrology and urology
others
Oncology segment holds the largest market share and is projected to increase in the future years.
Market Geographical Landscape
In term of geographic region, the Global Hospital Pharmaceuticals Market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the market with the highest market share. Presence of potential market leaders in the locale is one of the main considerations contributing toward the development of the Asia-Pacific market.
Prominent Players Profiled
Major players competing in Global Hospital Pharmaceuticals Market are Sanofi-Aventis., Pfizer, Inc., Novartis AG, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc, Bayer AG, Johnson and Johnson, Novartis AG, Merck and Co., Inc., and Others.
Key Segments Covered
By industries (anti-hypertensives, dyslipidaemia drugs, alkylating agents, anti-metabolites, hormonal agents, antidepressant drugs, miscellaneous drugs, and others).
By application (cardiology, oncology, neurology, oncology, pain, infection, nephrology and urology, and others).
Major Regions & Countries Covered
North America (the United States, Canada, and Mexico).
Europe, (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
South America (Brazil, Argentina, Colombia, etc.).
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
Quality Assurance Process
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Hospital Pharmaceuticals Market is presently worth USD 280.3 billion, and is anticipated to grow to a value of more than USD 366.38 billion by 2030, with a growing CAGR (compound annual growth rate) of over 3.9% from 2022 to 2030.
What are the drivers shaping various markets?
Pharmaceutical companies will probably see a significant increase in growth potential in the Global Hospital Pharmaceuticals Market as the number of hospitals increases dramatically around the world. The competitive environment is going to get more intense as more significant pharmaceutical companies enter the field of oncology, which is actually one of the most lucrative therapeutic areas in the Global Hospital Pharmaceuticals Market.
Who are the key competitors of market Players?
Some of the major players operating within the market are Sanofi-Aventis., Pfizer, Inc., Novartis AG, Bristol-Myers Squibb Company, Eli Lilly and Company, GlaxoSmithKline plc, Bayer AG, Johnson and Johnson, Novartis AG, Merck and Co., Inc., and Others.
What are the top performing segments, and countries / regions of each of the markets?
Global Hospital Pharmaceuticals Market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the market with the highest market share. Presence of potential market leaders in the locale is one of the main considerations contributing toward the development of the Asia-Pacific market.
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