Newly Approved Therapeutic Agents to Fuel Global Pulmonary Arterial Hypertension (PAH) Market’s Rise to US$5.19 Bn by 202023 Dec 2015
The global market for pulmonary arterial hypertension revolves around the principle of developing breakthrough therapies for treating pulmonary arterial hypertension. The growth and prosperity of this market depends significantly on this aspect. This tenet not only applies on new market entrants but even on the existing players who need to prevent their market operations from stagnating and losing the growth momentum in the global pulmonary arterial hypertension market.
Nowadays, the governments of several countries are encouraging the development of orphan drugs which in turn contributes significantly to the overall demand in the global pulmonary arterial hypertension market.
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What is Pulmonary Arterial Hypertension?
A medical anomaly that restricts the flow of blood within the pulmonary arteries is known as pulmonary arterial hypertension. If this medical condition remains untreated over a period of time it may lead to heightened pulmonary vascular resistance and finally heart failure. When the pulmonary arteries become thick or blocked it leads to pulmonary arterial hypertension. The advanced therapy that is used for treating this medical condition has a direct impact on the disorder itself and does not treat the underlying factors that cause pulmonary arterial hypertension.
The advanced therapy incorporates the use of soluble guanylate cyclase stimulators, prostacyclin analogs, phosphodiesterase-5 inhibitors, and endothelin receptor antagonists. The other drugs prescribed by physicians in addition to the ones aforementioned are: anticoagulants, calcium channel blockers, digoxin, and diuretics. There exists no accurate cure for pulmonary arterial hypertension and the treatments mainly aim at improving the patient’s quality of life, decelerate the progression of this disease, and decrease the symptoms of the same.
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Discovery of New Drugs will Help Leading Players to Retain their Market Share
The global pulmonary arterial hypertension market, which in 2013 was valued at US$4.04 billion is anticipated to expand at a 2.3% CAGR between 2014 and 2020, thereby reaching a market value worth US$5.19 billion by 2020. United Therapeutics Corporation, Gilead Sciences Inc., Pfizer Inc., Actelion Pharmaceuticals Ltd., and GlaxoSmithKline were a few of the leading companies in 22013.
During the same year, the company with the highest market share was Actelion Pharmaceuticals Ltd. What made this company a leader in the pulmonary arterial hypertension market was Tracleer, which was its bestselling drug and a widely prescribed one. With the launch of Adempas, a latest drug, Bayer HealthCare is anticipated to witness robust growth in the overall market for pulmonary arterial hypertension.
North America and Europe to Lead the Global Pulmonary Arterial Hypertension Market
The global pulmonary arterial hypertension market is segmented on the basis of drug classes and geography. On the basis of drug classes, this market is categorized into soluble guanylate cyclase (sCG) stimulators, phosphodiesterase 5 (PDE-5), endothelin receptor antagonists (ERAs), prostacyclin, and prostacyclin analogs. In 2013, with a revenue exceeding 55%, the segment for ERAs held the largest share in the overall market for pulmonary arterial hypertension. However, the segment for prostacyclin and prostacyclin analogs is anticipated to expand significantly in the forecast period.
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Geographically, the global pulmonary arterial hypertension market is categorized into North America, Asia Pacific, Europe, and Rest of the World. With a market share of more than 44%, North America dominates the global pulmonary arterial hypertension. Europe and North America pulmonary arterial hypertension markets will exhibit robust growth in the forthcoming years owing to the recent approval of the pulmonary arterial hypertension drugs.
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