Furosemide Market - Introduction
Furosemide is a medication used to reduce edema (extra fluid in the body) due to diseases/conditions such as kidney disease, heart disease, and liver disease. It is also used for the treatment of high blood pressure. Furosemide is sulfamoylanthranilic acid derivative. It is also known as diuretic and is primarily administered orally or intravenously. The injectable or intravenous form is used when the drug cannot be administered orally, especially in patients with chronic diseases. The medication helps the kidneys eliminate unneeded water and salt from the body through urine. It blocks the absorption of sodium, chloride, and water from the fluid in the kidneys. However, furosemide carries many side effects such as dehydration, low blood pressure, and electrolyte depletion. The medication reduces symptoms such as shortness of breath, and swelling of arms, legs, and abdomen.
Furosemide Market – Competitive Landscape
Key players operating in the global furosemide market are Sanofi, Pfizer Inc., Mylan N.V., Emcure Pharmaceuticals, Sun Pharmaceutical Industries Ltd., SteriMax, and Sandoz Canada Inc.
Mylan N.V. is a pharmaceutical company offering generic and branded medications and serves regions including North America, Europe and Rest of World. The company operates in 140 countries across the globe. The company offers furosemide tablets indicated in adults and pediatric patients for the treatment of edema associated with cirrhosis of the liver, congestive heart failure and renal disease.
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Pfizer is a global pharmaceutical company manufacturing includes medicines and vaccines and consumer health care products. The company leading supplier of high-quality, difficult-to-manufacture, injectable pharmaceutical and surgical products. Pfizer Inc. offers furosemide injection, solution indicated as adjunctive therapy in acute pulmonary edema and for for the treatment of edema.
Sanofi is a pharmaceutical company engaged in the development, production, and sale of pharmaceuticals and health care products for diabetes, cardiovascular, central nervous system, thrombosis, internal medicine, vaccines, and oncology. Sanofi offers LASIX, furosemide oral solution.
Furosemide Market - Dynamics
Furosemide is indicated for the treatment of edema associated with congestive heart failure, chronic renal failure & other diseases. Rise in prevalence of chronic diseases, increase in number of generic drug manufacturers for furosemide, and growth in number of surgical procedures are expected to drive the furosemide market during the forecast period. Additionally, increase in number of promising drugs in pipeline is anticipated to boost the market during the forecast period
Increase in prevalence of chronic disease
The prevalence of chronic diseases such as heart failure and renal diseases is increasing across the globe. As per the Centre for Disease Control and Prevention (CDC), in the U.S., nearly 5.7 million adults had heart failure in 2016 and half of people with heart failure die within 5 years of diagnosis. According to Emory Healthcare, in the U.S., 550,000 new cases are diagnosed each year. Diabetes and obesity key contributors to rising number of patients with heart failure
Chronic kidney disease is another major health problem. More than 661,000 Americans have kidney failure. According to National Institute of Diabetes and Digestive and Kidney Diseases, more than 661,000 Americans have kidney failure, out of which 468,000 patients are on dialysis, and 193,000 patient live with a functioning kidney transplant. Nearly 47,000 Americans died from kidney disease in 2013.
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Product recalls to restrain market growth
Voluntary product recall by pharmaceutical companies, and Food and Drug Administration (FDA) and other regulatory authorities is estimated to restrain the market. For instance, in February 2017, Roxane Laboratories Inc recalled 6493 bottles of Furosemide Tablets USP, 20 mg, available with prescription after a complaint about an unusually thick tablet. In October 2015, the company recalled 16,270 bottles of tablets of diuretic furosemide as per the FDA Enforcement Report. The recall was initiated, as the tablets were manufactured using Active Pharmaceutical Ingredient (API) intended for the oral-suspension version of the drug.
Furosemide market dominated by North America
North America is projected to account for the major share of the market in the near future owing to the increase in number of specialty care services for cardiac and kidney patients, and rise in demand for furosemide in health care institutes. Furthermore, rise in availability of medications for chronic disease/conditions in these pharmacies, ease of accessibility, and growth in chain of retail pharmacies supplying medications for furosemide are other key factors likely to support the growth of the market in North America
Asia Pacific market to grow at rapid pace
The market in Asia Pacific is estimated to expand at a faster pace than that in other regions during the forecast period, led by the increase in awareness about management of pulmonary edema among cardiac patients, rise in prevalence of cardiac diseases, and high demand for drugs in ambulatory surgical centers. Additionally, the increase in number of surgical centers and voluntary organizations conducting workshops & programs, rise in focus on adopting strategies for preventive care are likely to boost the growth of the market in the region.
Furosemide Market – Segmentation
The Furosemide market can be bifurcated on the basis of route of administration, distribution channel, and region
In terms of route of administration, the furosemide market can be divided into:
In terms of distribution channel, the furosemide market can be fragmented into:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.