5-HT3 Receptor Antagonists Market Segmentation by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others); and by Indication (Post-Operative Induced Nausea and Vomiting, Radiation Induced Nausea and Vomiting, Chemotherapy Induced Nausea and Vomiting, and Others) – Global Demand Analysis and Opportunity Outlook 2030
Buy Now Report ID: 3301 | Published Date: Feb 09, 2023
The global 5-HT3 receptor antagonists market is segmented on the basis of region into five North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa region. The market in the Asia Pacific region is predicted to grow at the highest CAGR over the forecast period owing to increased healthcare expenditure and the expanding cancer patient pool in the region. Moreover, in 2021, the market in the North American region is evaluated to occupy the largest share in terms of revenue due to the ongoing technological advancement in the region and the presence of leading healthcare companies. Furthermore, rising cases of surgeries and the high prevalence of chronic diseases such as cardiovascular diseases in the region are estimated to boost the regional market growth. According to the data provided by Centres for Disease Control and Prevention (CDC) statistics, around 655,000 Americans die from heart diseases every year, that is, one in every four deaths is caused by CVDs.
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The global 5-HT3 receptor antagonists market is further classified on the basis of region as follows:
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.74 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.31 in 2008 to USD 1,110.84in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Our in-depth analysis of the global 5-HT3 receptor antagonists market includes the following segments:
By Distribution Channel
By Indication
Growth Drivers
Challenges
April 2021: Pfizer Inc. announced the acquisition of Amplyx Pharmaceuticals, Inc., previously a private company dedicated to developing therapies for debilitating and life-threatening diseases that affect people with compromised immune systems.
January 2021: Eli Lilly and Company announced the acquisition of Prevail Therapeutics, a biotechnology company for about USD 1.04 billion.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increase in prevalence of cancer and advancement of pharmaceutical and medical technologies are the key factors driving market growth.
Ans: The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Ans: Lack of necessary infrastructure in lower economic regions and side-effects associated with this drug are estimated to hamper market growth.
Ans: The market in Asia Pacific region will provide ample growth opportunities owing to the increased expenditure in healthcare infrastructure and, research and development in various antiemetic drugs in the region.
Ans: The major players dominating the 5-HT3 receptor antagonists market are Pfizer Inc., Novartis AG, Johnson & Johnson Services, Inc., AstraZeneca, Teva Pharmaceutical Industries Ltd. among others.
Ans: The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by indication, distribution channel, and region.
Ans: The hospitals segment is anticipated to hold the largest market share over the forecast period owing to increasing number of chemotherapy procedures being performed in hospitals.
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