New York, March 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hematology Drugs Global Market Report 2022" - https://www.reportlinker.com/p06241974/?utm_source=GNW
The global hematology drugs market is expected to grow from $33.06 billion in 2021 to $36.13 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $49.18 billion in 2026 at a CAGR of 8.0%.
The hematology drugs market consists of sales of hematology drugs and related services by entities (organizations, sole traders and partnerships) that produce hematology drugs to treat diseases such as genetic disorders, anemia, and other related diseases.This industry includes establishments that produce blood products such as red blood cells, white blood cells, platelets, and fresh frozen plasma.
It also consists of establishments which produce of anemia and other blood disorder drugs to treat anemia, hemophilia and blood clots.
The main drug types of hermatology drugs are blood products, anemia and other blood disorder drugs.Any therapeutic substance derived from human blood is referred to as a blood product, which includes whole blood and other blood components for transfusion as well as plasma-derived medicinal products.
The drugs are available in the form of pharmaceutical drugs and biologics.The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs.
The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores, and others.
North America was the largest region in the hematology drugs market in 2021.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The hematology drugs market growth is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) stated that the global GDP growth rate was 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. This is expected to increase spending on healthcare services, thereby driving the demand for hematology drugs.
Regulatory agencies and federal governments adopted stringent regulations and took a tough stance on drug pricing by pharmaceutical companies during the historic period.Pharmaceutical companies faced criticism from politicians, patients and physicians over high pricing of some medicines and drugs.
Moreover, companies had to sell drugs and medicines at subsidized rates to government hospitals, doctors and clinics, further effecting companies’ revenues. This led to drug manufacturing companies operating on a reduced profit margin, which negatively impacted the attractiveness of the hematology drugs industry in the historic period.
Tranexamic acid is increasingly being used to prevent postpartum hemorrhage (blood loss of over 500 ml or 1,000 ml within 24 hours of childbirth) due to its low price and wide availability.Tranexamic acid is an antifibrinolytic drug that helps in reducing bleeding in surgical and trauma patients, including women with postpartum hemorrhage.
According to the World Maternal Antifibrinolytic (WOMAN) trial, using tranexamic acid within three hours of childbirth lowered death from bleeding by 31% and reduced the need for laparotomy (emergency bleeding control surgery) by 36%. The trial included over 20,000 women from 193 hospitals in 21 countries.
The countries covered in the hematology drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06241974/?utm_source=GNW
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