Critical Care Drugs Market 2014 to Showing Impressive Growth by 2024 | Industry Trends, Share, Size, Top Key Players Analysis and Forecast Research
As per the research conducted by Fast. MR, the report titled “Critical Care Drugs Market By Dosage Class (Opioids (Morphine, Pethidine, Naloxone, Fentanyl), Benzodiazepines (Diazepam, Midazolam, Lorazepum, Flumazenil), Sedatives, Anesthetics and Others), By Therapeutic Conditions (Cardiovascular, Oncology, CNS, Pain Management, Respiratory, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Global Market Size, Development, Growth and Demand Forecast, 2014-2024” provides current as well as future analysis of the market by evaluating the major applications, advantages, trends, and challenges. The report dives deeper to produce useful insights into Critical Care Drugs Market such as major global regions and key competitors and strategies that can be used for the entry-level player too.
Critical Care drugs are used to treat significant injuries and illnesses during an emergency, including surgeries. They are used in specific care units such as coronary care unit (CCU), intensive care unit (ICU), or any other particular healthcare or trauma center. Opioids, Benzodiazepines, and sedatives are some drugs used in intensive care units (ICU), and Adrenaline, Atropine, Xylocard, Calcium gluconate, Soda bicarbonate are used as life-saving drugs. Critical care drugs cover a wide area of applications, including cardiac arrest, angina, sedation, chest pain, and ventricular fibrillation, etc. hence contributed to the growth of the market.
An increase in the prevalence of critical care health problems is expected to propel the essential drugs of care market growth.
Increase in prevalence of critical care health problem like accidents, surgery, infections, and severe breathing problems which may occur due to the many factors like accidental cases, age factors, sudden heart attack, etc. is expected to boost the revenue of critical care drugs market. For instance, According to the World Health Organization (WHO), approximately 1.35 million people die each year as a result of road traffic crashes, and 93% of the world's fatalities on the roads occur in low- and middle-income countries.
However, a shortage of various critical care drugs lead to high price and in turn, posing a challenge for patients, seeking treatment. Thus, manufacturers are emphasizing strategic partnerships with other pharmaceutical companies to address drug shortages. For instance, in May 2019, ProvideGx, LLC, a consolidated subsidiary of Premier Inc., entered into a partnership agreement with Fresenius Kabi to help mitigate national shortages of injectable thiamine, hydromorphone, lidocaine, morphine sulfate, and diphenhydramine. The supply of these products by Fresenius Kabi and ProvideGx, LLC, will be available for purchase by any health system or healthcare provider at competitive prices. Thus, such an initiative will drive the growth of critical care drugs to be used in hospitals and clinics to treat patients with critical and chronic conditions at a faster pace.
Critical Care Drugs Market Regional Analysis
Based on the region, North America is expected to show the leading position in the critical care drugs market. This is owing to a rise in the geriatric population who are more vulnerable to chronic diseases and improved healthcare infrastructure. According to the Society of Critical Care Medicine (SCCM), more than 5 million patients are admitted annually to U.S. ICUs for intensive or invasive monitoring, stabilization of acute or life-threatening medical problems, comprehensive management of injury or illness.
Further, According to the American Health Association (AHA) 2015 annual survey from 2010 to 2015, the U.S. acute care hospitals has increased by 10.3% from 4,862 to 2,977. Additionally, it has been observed that, in 4862, acute care registered hospitals, there were at least 10 acute care beds and at least 1 ICU bed. Thus, the increase in healthcare spending for critical care is expected to drive the demand for critical care drugs market during the forecast period.
The Asia Pacific also contributes remarkable growth in the critical care drugs market attributed to increase initiatives by pharmaceutical manufacturers to develop and process new drugs as per the quality norms set by respective country's authority and also focus on building secure logistics networks to continue the supply of drugs across regions. For instance, Kritikos Care is one of the top 10 pharmaceutical company in India and deliver a broad range of products (that covers up all major therapeutic areas and health problems) to many leading hospitals and medical center in India. Additionally, this company has a vast supply chain that is spread all over the country to reach out their products to every needy patient.
Moreover, in February 2018, Asahi Kasei Pharma introduced Kevzara 150 mg Syringe and 200 mg Syringe Subcutaneous Injection in Japan. Kevzara got approved for the treatment of rheumatoid arthritis in patients who have had an inadequate response to conventional therapies in Japan. Hence, a rise in approvals of life-saving drugs by the government in the Asia Pacific is expected to provide lucrative opportunities for the critical care drugs market during the forecast period.
Key players operating in the critical care drugs markets include Pfizer, Mallinckrodt, Lupin Limited, Actavis, Janssen Pharmaceuticals, Dr. Reddy's Laboratories, Teva Pharmaceutical Industries Ltd., Endo Pharmaceuticals, Purdue Pharma, Lannett Company, Inc., Lavipharm Labs, Mylan Technologies, DURECT Corporation, Aveva, Watson, Impax, ANI Pharmaceuticals, Inc., Ranbaxy and others.
Access Complete Critical Care Drugs Market Report @ https://www.fastmr.com/report/96/critical-care-drugs-market
Critical Care Drugs Market-Taxonomy
By Dosage Class
By Therapeutic Conditions
By Dosage Form
- Hospital Pharmacies
- Retail Pharmacies
- Asia Pacific
- Latin America
- Middle East and Africa
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