Pharmerging Market to reach US$ 1,540.3 Million by 2024

Rising demand for the drugs and healthcare services has boosted the pharmerging market. Rising population, growing economy and increasing healthcare expenditure are the key factors for propelling the market. Moreover, the pharmaceutical and healthcare industry experiences heavy inorganic growth activities like mergers and acquisitions, which leads to increase in industry competition with better products and services to patients. Aging population, increasing life expectancy, and rising prevalence for communicable as well as non-communicable diseases (NCDs) has boosted the demand for pharmaceutical and healthcare products. Moreover, continuous research and development, increasing government expenditure on health care and free trade agreement has synergized the pharmerging market to propel substantially. Product innovation provided key players with the opportunity to penetrate a new therapeutic area/market. Supporting to research activities in pharmaceutical and healthcare segment, various national and international governments and organizations participate actively towards development and reach of healthcare facilities in population. According to WHO, non-communicable diseases kill approximately 38 million people in a year, of which 28 million deaths occur in low and middle income countries. Cardiovascular diseases are the leading cause, accounting for approximately 17.5 million deaths in a year, followed by cancer at 8.2 million, respiratory diseases at 4 million, and diabetes at 1.5 million. Increasing prevalence of tobacco chewing, consumption of alcohol, sedentary lifestyles, and unhealthy eating habits all lead to a rise in non-communicable diseases worldwide. The increasing latent demand for pharmaceutical and healthcare facilities is continuously tried to tap by various industry players in the market.

Browse Report with Complete TOC - http://www.transparencymarketresearch.com/pharmerging-market.html

On the basis of type of product, the pharmerging market is segment into pharmaceuticals and healthcare. The pharmaceuticals segment dominated the pharmerging market and accounts for substantial market share in 2016. The trend is expected to continue during the forecast period. The pharmaceuticals segment is driven by growth of both branded as well as generic drugs. Also with rising demand for innovative therapies for treating various diseases at affordable price has boosted the growth of pharmaceutical industry. Also, rising number of mergers and acquisition of key players with the local players in order to expand the market is driving the growth of the market. Increasing demand for innovative therapies for treating diseases is likely to drive the pharmerging market. The pharmaceuticals segment is driven by growth of both branded and generic drugs in the market, whereas the healthcare market is driven by growing emphasis on medical devices used in the diagnosis and treatment for diseases.

On the basis of indications, the pharmerging market has been segmented into – lifestyle diseases, cancers & autoimmune diseases, infectious diseases and others. The cancers & autoimmune diseases segment accounted for the substantial share of the global pharmerging market in 2015. The segment is anticipated to gain market share to end 2025 driven by increasing R&D efforts and awareness regarding cancer related mortality, morbidity, and health care costs in cancer treatment. The infectious diseases segment is expected to lose market share to end 2025, attributed to improvement in measures taken for preventing infections, early diagnosis, and better therapeutic interventions in emerging nations. The lifestyle diseases segment is rated as the second largest segment in terms of attractiveness index, owing to the launch of innovative products and treatments in recent years for lifestyle diseases such as obesity diabetes type 2, and atherosclerosis.

On the basis of type of distribution channel, the pharmerging market has been segmented into – hospitals, clinics, retail pharmacies, e-commerce, and drug stores. In terms of revenue, the hospitals segment was the most attractive segment with significant attractive index. Increased emphasis on well-established hospital system and making hospitals as primary care providers is anticipated to drive the expansion of the segment during the forecast period. Furthermore, rise in government investment to improve accessibility to medicine at affordable price is projected to propel the expansion of the hospital segment during the forecast period.

On the basis of economic growth level, the pharmerging market has been segmented into – Tier – 1, Tier – 2, and Tier – 3 regions. Increase in healthcare provision for population living below the poverty line and private plans for urban population are anticipated to drive the market in the region during the forecast period.

Geographically, the pharmerging market is segmented into Europe, Asia Pacific, Latin America, Middle East and Africa. Europe and Asia Pacific were recorded with significant market share in the pharmerging market. Large population size, growing disease prevalence and increase in health expenditure has boosted pharmerging market in the region. Supply side, Asia Pacific market is expected to grow in upcoming years due to increasing demand and concomitant production of vaccines and drugs in countries such as China and India. Patent expiration, rapid urbanization and favorable improvement in investment for medical research are major factors owing to increase in demand for pharmerging market in Asia Pacific.

The pharmerging market is fragmented, with presence of several large industry players. Abbott Laboratories, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Novartis AG, Johnson & Johnson, Teva Pharmaceutical Industries Ltd., AstraZeneca, GlaxoSmithKline plc., LUPIN, Tata Consultancy Services Limited, Sun Pharmaceutical Industries Ltd., Huadong Medicine Co., Ltd., etc. are the key players operating in the pharmerging market.

Inquire for a Sample Copy of Report - http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=8200

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.