The global market for inhalation and nasal spray generic drugs features a largely fragmented, not to mention intensely competitive owing to pricing pressures, vendor landscape, with the top four companies accounting for a nearly 46% of the overall market in 2014, observes Transparency Market Research (TMR) in a recent report. These leading companies, namely Sandoz International GmbH, Mylan N.V., Allergan PLC, and Teva Pharmaceutical Industries Ltd., are focusing on growth strategies such as geographical expansion and mergers and acquisitions across high-growth potential regional markets.
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Regional markets such as Asia Pacific and Latin America show immense growth promise for generic drugs owing to the cost-conscious consumer base. However, these regions present immense challenge for new companies owing to the presence of a large number of local and regional players. Nevertheless, strategic collaborations could enable international companies to establish their businesses. TMR estimates that the global inhalation and nasal spray generic drugs market will exhibit a 5.5% CAGR over the period between 2015 and 2023, rising to a valuation of US$35 bn by 2023.
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Asia Pacific to Lead to Healthy Growth Avenues for Inhalation and Nasal Spray Generic Drugs
On the basis of drug class, the segment of combinations, which accounted for the dominant share in revenue in 2014 and 2015, is expected to remain the leading drug class over the report’s forecast period as well. The segment is expected to reach the valuation of US$6.4 bn in 2016. In terms of geography, the market for inhalation and nasal spray generic drugs in Asia Pacific is projected to emerge as the regional market with the most promising growth opportunities over the forecast period. The two leading regional markets in the present scenario – North America and Europe, will continue to constitute the top share in terms of revenue contribution over the forecast period, but will lead to less promising growth opportunities as compared to Asia Pacific owing chiefly to mature marketplaces and more preferences to branded drugs.
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Cost Effectiveness of Generic Drugs Help Boost Sales
Looming patent expirations of some of the leading drug classes prescribed for a number of inhalation-related conditions is one of the key factors boosting the sales of generic inhalation and nasal spray drugs. The substantially low costs of generic drugs are also a key factor behind the higher preference given to them across cost-conscious regions.
The increased awareness regarding the significant reduction in the cost burden of treatment of a number of commonly occurring diseases on the overall healthcare funds of a country are also compelling government and healthcare authorities to educate masses about the variety of generic drugs available in the market. Moreover, the vast rise in prevalence of breathing-related conditions such as chronic obstructive pulmonary disease and asthma across the globe and the rising demand to lower down healthcare costs are also expected to drive the market.
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Stringent Regulations in Emerging Economies Could Hinder Growth Prospects
Owing to the large number of companies foraying into the generics sector for inhalation and nasal spray drugs, quality and integrity of generic inhalers is increasingly becoming a cause of concern for the masses as well as authoritative healthcare bodies in emerging economies. Countries such as Brazil and India are increasingly featuring strict regulations concerned with the process of approving new generics. These regulations are expected to hinder the growth opportunities of the global inhalation and nasal spray generic drugs market to a certain extent in the next few years.
Transparency Market Research (TMR) has observed that the degree of competition in the Saudi Arabia veterinary therapeutics market is likely remain high in the coming years. The introduction of new players is expected to intensify the competition. The leading players, Zoetis, Inc., Elanco Animal Health, Merck Animal Health, Bayer Animal Health, and Boehringer, held a share of more than 50% in the overall market in 2016.
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According to the research report, the Saudi Arabia veterinary therapeutics market is estimated to be worth US$ 575.3 mn by the end of 2025 from US$ 384.2 mn in 2016. During the forecast years of 2017 and 2025, the global market is projected to surge at a CAGR of 4.7%. The pharmaceuticals segment holds the leading share in the overall market and it is expected to maintain its stance in the coming years as well. The demand for preventive measures against various ailments that can affect animals is expected to help the pharmaceutical segment acquire a share of 58.5% by 2025 in the overall market.
Growing Adoption of Companion Animals to Drive Saudi Arabia Veterinary Therapeutics Market
The veterinary therapeutics market of Saudi Arabia includes drugs, vaccines, and nutritional feed. These are extensively being used for treating animals, prevention of various infectious and bacterial conditions, and for overall health of the animals. In the past few years, this market has witnessed a rapid rise due to growing awareness about animal health care. The increasing importance of both companion and livestock animals for food and domestication have been driving the demand for veterinary therapeutics.
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Some of the other factors responsible for the growth of the overall market are ownership of companion animals, evolution of advanced products for combating newer diseases in animals, improving affordability, and growing expenditure on animal health. The growing emphasis on preventing diseases and ensuring wellness is also expected to a key market driver for the increasing sales of veterinary therapeutics. Additionally, the sudden rise in zoonotic diseases has also been identified as a responsible factor driving the soaring revenue of the market. The exponentially increasing consumption of poultry and dairy are also slated to play an instrumental role in defining the trajectory of the overall market. The easy availability of antibiotics and increasing ownership of companion animals are also projected to bolster the Saudi Arabia veterinary therapeutics market growth in the foreseeable future.
Low Return on Investments to Hamper Overall Market
On the flip side, the Saudi Arabia veterinary therapeutics market is likely to be affected by the low returns on research and development. Though the players are investing a significant amount in developing better and advanced medicines, the returns are not as fruitful. This is expected to restrain the market growth in the coming years. Additionally, ban on antibiotics due to their harmful side-effects is also slated to hamper the market growth in the coming years.
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A recent market report by Transparency Market Research has pegged the global geriatric medicine market to reach US$948 bn by 2023. According to the report the market was valued at US$504.7 bn in 2014. The report is titled “Geriatric Medicines Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” and it projects the market to expand at a CAGR of 7.3% between 2015 and 2023.
Geriatric medicines are concerned with administering specialist medical care for elderly people. These medicines mainly deal with the diagnosis, treatment, remedial, prevention, and social aspects relating to illnesses of older people, mainly patients who are 65 years or older. The rising incidence of diseases such as cancer, neurological disorders, cardiovascular disorders, and rheumatoid arthritis has been the prime driver of the global geriatric medicine market. The market is also gaining impetus from the increasing use of multiple medicines that may cause adverse side effects.
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The global geriatric medicine market has been exhibiting growth at an impressive rate. Apart from the increasing geriatric population, rising prevalence of chronic ailments, and the increasing investments in the national healthcare systems, particularly in developing nations, will boost the global geriatric medicines market. Despite witnessing positive growth worldwide, the lack of hospitals and specialized care centers is likely to hamper the market’s growth to an extent.
The report compiles exhaustive information relating to the factors influencing the market’s trajectory. For the purpose of the study, the market has been classified based on various parameters. By therapeutic category, the report has segmented the global geriatric medicines market into antihypertensive, antidiabetic, statins, proton pump inhibitor, antipsychotic, anticoagulant, and others. Of these, the analgesic segment held the largest share in the market in 2014. The segment is also projected to continue dominating the market through the forecast period.
As per the findings covered in the report, approximately 60% to 70% of people aged 65 years or above complain of some form of persistent pain or other. The most common pain complaints among older people include musculoskeletal pain, osteoarthritic pain, chronic joint pain, and peripheral pain. The demand from the analgesic segment is therefore spurred due to the increasing incidence of such chronic pains, coupled with favorable government initiatives promoting effective healthcare.
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In terms of conditions, the global geriatric medicines market has been segmented into arthritis, cardiovascular disorders, neurological ailments, respiratory disorders, osteoporosis, and others. Of these, the cardiovascular segment accounted for the largest share in the market in 2014. The report presents insights into various factors fuelling demand from the aforementioned segments.
Regionally, the report has classified the global geriatric medicines market into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. Among these regions, North America accounted for the dominant share of 39% in the market in 2014, trailed by Europe. However, Asia Pacific, during the forecast period, is expected to exhibit the fastest CAGR. The rising prevalence of chronic ailments and increasing geriatric population in the region, coupled with increasing expenditure on healthcare infrastructure in most developing nations will aid the expansion of the geriatric medicines market in Asia Pacific.
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To present an in-depth study on the vendor landscape, the report also profiles companies such as Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, Inc., Bristol-Myers Squibb Company, GlaxoSmithKline plc, Eli Lilly and Company, Merck & Company Inc., Pfizer, Inc., Novartis AG, and others.
The global blood collection market is anticipated to expect promising growth opportunities arising from the surge in the number of surgical procedures performed globally, including cancer and organ transplant surgeries. Most of these surgeries require blood transfusion, which could up the demand for target products of the market such as blood bags, tubes, syringes, and needles. End users such as hospitals and diagnostic centers could significantly add to the growth of the market with rising healthcare awareness to prevent and control infectious diseases. More number of government and non-government organizations are participating in such causes with their initiatives.
The global blood collection market, as per Transparency Market Research (TMR), is foretold to rise at a 4.7% CAGR to reach a valuation of US$9.8 bn by the end of 2022. In 2017, the market attained a valuation of US$7.7 bn.
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Global Blood Collection Market: Major Insights
The international blood collection market is projected to gain a strong impetus on the back of the elevating number of trauma incidences and accidents and rising prevalence of non-communicable and infectious diseases. In the U.S., there are millions of adults still diagnosed with cancer and heart disease. Consequently, the diagnostics application could gain pace in its growth with the increasing demand for blood collection products. Product advancement is foreseen to bring in ample of opportunities for players dealing with blood collection tubes. In 2016, Vacutainer Barricor by BD received clearance from the U.S. Food and Drug Administration (FDA).
The international blood collection market is prognosticated to be classified according to product, end user, and application. By product, the market could be divided into vials, blood bags, blood lancets, blood collection tubes, blood collection needles and syringes, and others. Out of these segments, blood collection needles and syringes are anticipated to garner a lion’s share in the market by the end of the forecast timeframe. By 2022, this segment could collect a revenue of US$2.8 bn. In view of end user, the market could be segmented into blood banks, hospitals and diagnostic centers, and other end users. By application, diagnostics and treatment are expected to be critical segments of the market.
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Regionally, the international blood collection market is envisaged to testify the lead secured by North America in the coming years. This region could rise at a 4.9% CAGR. However, the Middle East and Africa (MEA) and Japan are prophesied to showcase a sluggish growth in the market. The MEA could be valued at a US$0.4 bn by the end of 2022 while Japan is envisioned to expand at a CAGR of 4.3%. Nevertheless, there could be business opportunities available in Europe expected to expand at a 4.5% CAGR. Asia Pacific except Japan (APEJ) could be a faster growing region of the market.
Global Blood Collection Market: Vendor Landscape
The report offers an analysis of the worldwide blood collection market’s competitive landscape while profiling several key players including Abbott Laboratories, Inc., Medtronic Plc., Becton, Dickinson and Company, Terumo Corporation, Nipro Corporation, QIAGEN N.V., F.L. Medical SRL, Greiner Holding AG, Haemonetics Corporation, and Sarstedt AG & Co.
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In its new research report on the global market of cardiac prosthetic devices, Transparency Market Research states that the market will grow at a CAGR of nearly 8.7% between 2013 and 2019. The report, titled “Cardiac Prosthetic Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, adds that the market, which valued US$2,945.3 million in 2012, will rise to US$5,290.0 million by 2019.
While the primary factor behind the steady growth prospects of the global cardiac prosthetic devices market is the globally rising prevalence of a number of cardiovascular diseases related to coronary artery, rheumatic heart, cerebrovascular, valvular, peripheral vascular, etc., there are many other factors driving the market substantially as well.
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The report states that a number of other factors, such as continuous modification and upgradation of products, rising preference for minimally invasive treatments, high obesity, rising density of geriatric population base across the globe and changing lifestyles, also contribute significantly towards the growth of the market. However, the high cost of these products and associated procedures may limit market growth by certain extent during the forecast period.
The report classifies the global cardiac prosthetic devices market broadly into types of pacemakers and heart valves. The report further classifies the product segment pacemakers into external and implantable pacemakers. The segment heart valves is further classified into transcatheter heart valves, tissue heart valves, and mechanical heart valves.
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Geographically, the report segments the global market into regional markets of North America, Asia-Pacific, Europe and Rest of the World. Amongst these, the regional market of North America accounted for the largest share of the market, nearly 35%, in 2012. North American regional market features the presence of high-end technology and most updated infrastructure, coupled with well trained healthcare personnel compared to other regional markets. Rising prevalence of cardiovascular disease and established policies in healthcare and medicine also allows this market to make increased use of cardiac prosthetic devices.
The regional market of Asia pacific is expected to record growth at the highest pace during the forecast period, owing to increased participation of government bodies towards improving healthcare facilities of countries in these regions. The rising disposable incomes of population in these regions, and rising preference for technologically advanced medical solutions and devices will also support growth of the market.
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The report states that the global cardiac prosthetic devices market is a highly fragmented marketplace, and features the presence of many established as well as emerging businesses. Chief players in the marketplace include Boston Scientific Corporation, Sorin Group, Medtronic, Inc., St. Jude Medical, and Edwards Lifesciences Corporation, among others.