Pulmonary Arterial Hypertension (PAH) Market: Approval of New Drugs to Expand Market Growth
In a recent report by Transparency Market Research (TMR), the vendor landscape for global pulmonary arterial hypertension (PAH) market is highly opportunistic. Since PAH has no permanent cure, the market is gaining popularity. A key factor to boost the growth of the PAH market is the availability of several treatment options for slowing down the spreading of the diseases, control symptoms, and enhancing the quality of life of patients.
Some of the leading players of the global market for PAH are United Therapeutics Corp., Novartis International AG, Pfizer Inc., Gilead Sciences Inc., and GlaxoSmithKline Plc. The key drugs available in the global market are PDE-5 inhibitors, ERAs, prostacyclin analogs, sGC stimulators, and Prostacyclin with ERAs contributing larger shares for revenue.
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As per the TMR report, the global pulmonary arterial hypertension market is estimated to exhibit an impressive CAGR of 17.90% within the forecast period of 2014 to 2020. The value is presumed to be at US$5.19 bn by the end of the forecast period. North America is anticipated to account for a king’s share during the forecast period followed by Europe. This is due to the high awareness about PAH treatments available that drives the growth of the market in both the regions.
Asia Pacific to Witness Stable Growth with Increase in Preference for Generic Drugs
The market is receiving a significant boost with the existence of promising pipelines and effective drugs approvals in present times. This is also acting as a primary factor in the growth and development of the pulmonary arterial hypertension market. The government is also taking active initiatives that are acting in favor of the PAH market growth.
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According to a TMR, the license expiry of some blockbuster drugs are making way for generic drugs penetration. The increased sales of generic drugs adversely affect the overall revenue generation of the market since it is 70 to 80 per cent cheaper as compared to branded drugs. Cutting-edge therapies are developed for treating PAH. Therefore the future of pulmonary arterial hypertension market is presumed to be brighter in the years to come.
The market in Asia Pacific region is also presumed to be highly opportunistic in nature because of countries like China, Australia, Japan, New Zealand, and India, that has high growth rates. These emerging nations are estimated to be major global players in the future years.
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Patent Expiry of PAH Drug Remedies Affecting Market Growth in Negative Light
Pulmonary arterial hypertension does not have a permanent cure. Medications may only help to decrease the speed by which the disease spreads into the body. In most developing countries, people are unaware of the treatment. This acts as a hindrance in the growth of the PAH market. Apart from that, high cost of such remedies and license expiry may also add as barrier in the growth and development of PAH in the market.
However, the global PAH market is anticipated to see growth in the coming years due to a number of factors like increase in the number of obese population, rise in the healthcare expenses, and ageing population. Growing population of women and their rising health complexities also gives way to PAH market for growth since PAH mostly result from high blood pressure in the lungs. This may further lead to other diseases like obstructive sleep apnea (OSA), and diastolic heart failure, hence creating vast opportunities for PAH market to grow. The key trends in this market are consumption of junk food items, continuous support provided by the government and increase in the number of cardiovascular diseases.
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