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Hospital pharmaceutical consists of pharmaceuticals which are purchased by hospitals and used for treatment of either inpatients or outpatients. Hospital pharmaceutical drugs includes critical care and therapeutic drugs applied in infections, alimentary tract and metabolism, cardiology, urology, neurology, sensory organs, musculoskeletal system, respiratory system, dermatology, hematology and other. The primary responsibility of hospital pharmacy is procurement, storage and selling of medications. Hospital pharmaceuticals consists of medicines purchased for hospitals, healthcare centers in order to be administered to patients during hospital enabled treatment period.

The procurement of hospital pharmaceuticals for inpatients are not regulated by any legislation. Price of hospital pharmaceuticals are based on the negotiations between the hospital pharmacy and pharmaceutical company, especially in case of bulk purchases. However, hospital pharmacies are free to negotiate purchasing price with the industries officials depending on hospital needs and competition between the suppliers in market to receive hospital formulary.

For instance, Pharmac, a New Zealand government agency takes the decision about which medicines should be publically funded to help the patients get medicines at subsidized price and make choices on spending of District Health Board (DHB) on medical treatments. Pharmac with their increased horizon in vaccines, haemophilia treatments, cancer treatments and hospital medicines segment takes decisions on medicines funded in DHB hospitals and negotiates on budget management of hospital medicines. Pharmac publishes the list of subsidiarised medicine and drugs in their pharmaceutical schedule, annually. Pharmaceutical schedule list consists of formulations, doses, subsidy price of medicine and prescribing guidelines and it made accessible to health professionals and pharmacists.

Hospital Pharmaceuticals Market Drivers:

High prevalence of chronic diseases is a major factor driving the hospital pharmaceuticals market. According to the World Health Organization (WHO), in 2015 around 17.7 million people died due the cause of cardiovascular disease (CVD), representing 31% of all world deaths. Over three quarters of the total CVD deaths take place in low and middle income countries, indicating in the need for better medications in such regions. According to WHO, globally 8.8 million people died due to the cause of cancer in 2015, which majorly includes lung, stomach, liver, colorectal and female breast cancer. According to data published by National Center for Complementary and Integrative Health (NCCIH), in August 2015, 25.3 million U.S. people were suffered from daily pain.

According to the report published by, NORC at the University of Chicago, in October 2016, 90% of hospital administrators in U.S. reported that, the increased drug prices during the period 2013 to 2015, and growth in inpatient drug spending made the moderate to severe impact on hospital pharmaceutical budget. The major findings by Federation of American Hospitals (FAH) highlighted that inpatient spending increased by 38.7% on per hospital admission, from 2013 to 2015, affecting hospitals ability to manage overall healthcare costs. The large and uncertain increase in the hospital associated drug cost could significantly impact the hospitals’ ability to manage cost within the Medicare’s fixed price based payment system.

Researchers from the Kumamoto University, Japan in October 2017, introduced a new drug- LCZ696, which protects heart from cardiac rupture and heart failure after acute myocardial infarction. LCZ696 is better over conventional drug in reducing cardiac death and hospitalization due to heart failure. According to the American Heart Association (AHA), more than 6 million U.S. people are living with heart failure and around 9,00,000 new cases are diagnosed each year.

The U.S. Food and Drug Administration on September 2017, approved the-Mvasi, a first biosimilar approved in U.S. for the treatment of colorectal, lung, brain, kidney and cervical cancers. Moreover, the FDA granted approval to Mvasi from Amgen, Inc. Introduction of biosimilars will help to decrease the healthcare cost and increase the access to therapies, thereby driving the global hospital pharmaceuticals market.

Hospital Pharmaceuticals Market Competitive Analysis:

Key players operating in the hospital pharmaceuticals market includes Bayer AG, Novartis AG, Pfizer, Inc., AstraZeneca plc, GlaxoSmithKline plc, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Sanofi S.A., Merck & Co., Inc. and Eli Lilly and Company.

Hospital Pharmaceuticals Market Taxonomy:

By Therapeutic application:

  • Cardiology
  • Oncology
  • Nephrology
  • Urology
  • Neurology
  • Pain & Infection

By Region:

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users