Global Hospital Pharmaceuticals Market Fueled by Greater Awareness about Branded Drugs

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 do not include any type of skilled nursing facilities. Such drugs that fall within the hospital pharmaceuticals category could be anything from pain killers or drugs prescribed for easing minor aches and pains to drugs that are prescribed for chronic and serious diseases such as cancer, blood pressure, and diabetes. In the United States, an approximate US$200 million is spent annually on purchase of several pharmaceutical products via pharmacies. Besides hospitals and clinics, hospital pharmaceuticals are also sold through several other distribution channels such as mail orders and retail outlets.

Browse Full Global Hospital Pharmaceuticals Market Report With Complete TOC @ http://www.transparencymarketresearch.com/hospital-pharmaceuticals-market.html

According to a report published by Transparency Market Research, the global hospital pharmaceuticals market is expected to decline at 11.5% CAGR between 2014 and 2020, thereby reporting a value of US$10,907.5 million by 2020 from US$26,580.9 million in 2013.

Why Are Anti-Cholinergic Agents Losing Market Share?

The global hospital pharmaceuticals market is segmented on the basis of key therapeutic cases, indication, and geography. On the basis of therapeutic cases, the global hospital pharmaceuticals market is categorized into infection, pain, neurology, nephrology and urology, oncology, and cardiology. The market for neurology is further classified into antipsychotic drugs, anti-anxiety agents, antidepressant drugs, and anti-migraine drugs.

Based on indications, the global market for hospital pharmaceuticals is also segmented into nephrology and urology, oncology, cardiology, pain, infection, and neurology. The nephrology and urology segment covers illnesses such as acute kidney failure, diabetes, glomerular diseases, and chronic kidney diseases. Oncology segment covers different types of cancers such as prostrate, colorectal, lung, and breast. The cardiology segment is categorized into heart failure, high blood pressure, and stroke. Cancer pain, neuropathic pain, rheumatoid arthritis, fibromyalgia, and osteoarthritis are the different categories under the pain segment.

The segment for infection is further sub-segmented into amebiasis, tuberculosis, candida infection, fungal meningitis, and others. In 2013, the oncology segment held the highest share in the overall hospital pharmaceuticals market, followed by the segment for cardiovascular diseases. With the cardiovascular segment, the anti-cholinergic agent is exhibiting a rapidly declining rate of growth. This can be attributed to the loss of exclusivity of fast selling medications and drugs such as Enablex and VESIcare.

What Drives the Hospital Pharmaceuticals Market in Emerging Economies?

Geographically, the global hospital pharmaceuticals market is segmented into Asia Pacific, North America, Europe, and Rest of the World. The largest market share in the global hospital pharmaceuticals market is held by North America. However, as per industry trends and market forecasts, it is anticipated that Asia Pacific will witness robust growth during the forecast period. The anticipated expansion of this regional market can be attributed to factors such as rising incidence of cardiovascular anomalies and cancer cases, and rapidly growing population in emerging economies of Asia Pacific.

The hospital pharmaceuticals markets of Latin America, Asia Pacific, the Middle East, and Africa are essentially propelled by substantial growth of medical tourism. It is expected that these regions will also be driven by other factors such as greater awareness about branded medications and drugs and greater proliferation of hospitals in the forthcoming years.The leading companies operating in the global hospital pharmaceuticals market are Sanofi –Aventis Bayer AG, Eli Lilly and Company, Pfizer, Inc., AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson, and Merck & Co., Inc.

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