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.
December 20, 2021: Merck KGaA announced the acquisition of Chord Therapeutics to expand its neuro-inflammatory pipeline, to develop cladribine drug.
December 01, 2020: Fresenius Kabi launched a new Icatibant injection to treat acute attacks of hereditary angioedema in adults. Icatibant injection is an FDA-approved, cost-effective and quick-relief alternative to treat attacks of hereditary angioedema (HAE).
Ans: Increasing prevalence of congenital anomalies is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2031.
Ans: The major players in the market are GlaxoSmithKline plc, Regeneron Pharmaceuticals, Inc., BioMarin Pharmaceutical Inc., Amgen Inc., Alexion Pharmaceuticals, Inc., Merck KGaA, Novartis International AG, Ipsen Pharma, Fresenius Kabi USA, and others.
Ans: The company profiles are selected based on the 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 type, treatment, end-user, and by region.
Ans: The hospitals segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Ans: High cost of treatment and diagnosis are estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the high prevalence of various kinds of congenital abnormalities amongst the population.