Hemorrhagic Shock Treatment Market: Vasopressors segment witnessed significant expansion
Hemorrhagic Shock Treatment Market: Introduction
- Hemorrhagic shock is a life-threatening condition of reduced tissue perfusion, resulting in the inadequate delivery of oxygen and nutrients that are necessary for cellular function. When cellular oxygen demand outweighs supply, both the cell and the organism are in a state of shock. If not treated immediately with emergency medical attention, this can lead to organ failure.
Key Drivers and Restraints of Global Hemorrhagic Shock Treatment Market
- Rising cases of chronic diseases and trauma, which leads to hemorrhagic shock, boosts the market. Chronic renal failure, hypertension, diabetes, chronic liver disease, and chronic heart disease can cause hemorrhagic shock. Prevalence of diabetes is expected to increase exponentially, worldwide, due to change in lifestyle and various factors such as malnutrition and genetic mutations. According to various government and private organizations operating in the diabetes industry, diabetes is considered as a leading fatal disease. For instance, according to the American Diabetes Association, diabetes accounts for about 71,000 deaths in the U.S. each year. About 1 in 11 adults in the country suffers from diabetes.
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- Geriatric people are at a high risk of several diseases that cause hemorrhagic shock. Depending on their underlying health, older adults with neuropathic pain may have to cope with multiple coexisting diseases, polypharmacy, and impaired functional ability. According to WHO estimates, the global geriatric population is likely to reach around 2 billion (22% of global population) by 2050, as compared to 524 million in 2010. Furthermore, the global geriatric population is estimated to rise at a rapid pace in developed countries such as the U.K the U.S., and Japan. Brazil, China, Thailand, and South Korea, which are expected to have large geriatric populations in the shortest span of time in the near future.
- However, a lack of advanced healthcare facilities in low- and mid-income countries may hamper the market. At least half of the world’s population cannot obtain essential health services, according to a new report from the World Bank and WHO. According to an article published in Tracking Universal Health Coverage: 2017 Global Monitoring Report, currently, 800 million people spend at least 10% of their household budgets on health expenses for themselves, a sick child or other family member. For almost 100 million people, these expenses are high enough to push them into extreme poverty, forcing them to survive on just US$ 1.90 or less a day.
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Vasopressors segment witnessed significant expansion
- Based on drug class, the global hemorrhagic shock treatment market can be divided into: inotropes and vasopressors. The vasopressors segment can be further subdivided into dopamine, norepinephrine, vasopressin, epinephrine, and others.
- The vasopressors segment accounted for a notable share of the global market in 2019. Vasopressors are utilized to elevate blood pressure. It induces vasoconstriction and elevates mean arterial pressure as well as provides hemodynamic support. In July 2019, Novartis AG launched SYMJEPI (epinephrine) 0.3 mg and 0.15 mg Injections in retail pharmacies in the U.S.
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Retail pharmacies segment to dominate global hemorrhagic shock treatment market
- Based on distribution channel, the global hemorrhagic shock treatment market can be divided into: hospital pharmacies, retail pharmacies, and online pharmacies
- In terms of revenue, the retail pharmacies segment held a significant share of the global market in 2019. It is expected to maintain its leading position during the forecast period. However, the online pharmacies segment is projected to expand at a notable CAGR during the forecast period due to an increase in adoption of e-commerce and convenience offered by online pharmacies.
- Expansion of chain of retail pharmacies and easy access to these pharmacies are likely to propel the segment during the forecast period. However, introduction of counterfeit drugs in the market is likely to hamper the retail pharmacies segment. In case of emergency, drugs are immediately available at hospital pharmacies, as these pharmacies maintain sufficient stock. This can be useful for patients who experience sudden attack that may prove fatal.
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North America to dominate global hemorrhagic shock treatment market
- In terms of region, the global hemorrhagic shock treatment market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of revenue, North America dominated the hemorrhagic shock treatment market in 2019, followed by Europe. Rise in adoption of depression therapeutics for treatment and increase in number of clinical trials for the development of these products for different disorders boost the market in the region. The market in the region is driven by improved healthcare policies and advancements in healthcare facilities in countries such as the U.S., and Canada, and availability of effective and convenient treatment options.
- Rising healthcare expenditure in emerging nations along with an increase in the demand for hemorrhagic shock treatment is estimated to boost the market in Asia Pacific at a prominent CAGR during the forecast period. Increase in geriatric population, rise in awareness about healthcare issues, and increased focus of leading manufacturers to target developing economies such as India and China further fuel the market in the region. The region is witnessing ageing of the population at an unprecedented pace, with the number of geriatric persons expected to more than double, from 535 million in 2015 to about 1.3 billion by 2050, according to data published in Economic and Social Commission of Asia and the Pacific (ESCAP) in 2017.
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Key Manufacturers Operating in Market
The global hemorrhagic shock treatment market was highly fragmented in 2019. Key manufacturers operating in the global market are:
- Biomedica Management Corporation
- NuvOxPharma LLC
- Leading BioSciences, Inc.
- F. Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- Boehringer Ingelheim International GmbH
- Johnson & Johnson Services Inc
- AstraZeneca
- Daiichi Sankyo Company, Limited
- Teva Pharmaceutical Industries Ltd
- Novartis AG
- Zydus Cadila
- Amneal Pharmaceuticals LLC
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