SAN JOSE, Calif., Oct. 08, 2018 (GLOBE NEWSWIRE) -- The latest market report published by Credence Research, Inc. “Pulmonary Arterial Hypertension (PAH) Treatment Market Growth, Future Prospects, and Competitive Analysis, 2018–2026” the pulmonary arterial hypertension treatment market was valued at US$ 7,802.9 Mn in 2017 and projected to reach US$ 14,642.1 Mn by 2026 at a CAGR of 7.6% over the forecast period from 2018 to 2026.
Market Insights
The pulmonary arterial hypertension (PAH) treatment market is expected to exhibit a remarkable CAGR during the forecast period from 2018 to 2026. PAH is a rare, progressive disorder characterized by high blood pressure in the arteries that go from heart to the lungs. Drivers accountable for the market growth are globally growing older population coupled with mounting prevalence of PAH due to causative diseases including lung diseases, human immunodeficiency virus (HIV) infection, connective tissue disorders, chronic liver diseases, sedentary lifestyle, and other idiopathic conditions.
Moreover, increasing launches of innovative drugs & treatment therapies, favorable initiatives by various governments, and rising spending over healthcare is supporting the market growth. The European Respiratory Society (ERS) reported that the worldwide prevalence of PAH is ranging from 10 to 52 cases per million and estimated to be in the range of 100,000–200,000 every year. The presence of favorable government support in the U.S. such as Orphan Drug Act (ODA) 1983 and the Rare Disease Act (RDA) of 2002 to facilitate the development of orphan drugs with benefits including tax incentives (reduced taxes/tax credits equal to half of the development costs), clinical research subsidies, and improved patent protection & marketing rights. In addition, RDA amended to create a centralized structure (statutory authorization) for coordinating the research or recommend national research agendas in order to better facilitate the research & education.
The market dynamics would be varying by the end of 2020 as some of the blockbuster PAH treatment drugs such as Tracleer (bosentan), Adcirca, Letairis, and Tyvaso will go off-patent after 2018 and the entry of generic drugs with reduced prices than patented drugs would get facilitated.
Key Market Movements:
- Globally, the pulmonary arterial hypertension treatment market to exhibit a lucrative growth with a CAGR of 7.6% during the forecast period from 2018 to 2026
- Based on drug class, the vasodilators segment would register the fastest CAGR during the forecast period due to rising number of prescriptions & sale of prostacyclin and prostacyclin analogs such as Flolan (epoprostenol), Remodulin/Orenitram/Tyvaso (treprostinil), Ventavis (iloprost), Uptravi (selexipag), and Veletri (epoprostenol). These vasodilators will surpass the endothelin receptor antagonists (ERAs) in terms of revenue by the end of 2018 due to launch of blockbuster drugs like Uptravi and Ventavis in recent years, and launch of potential pipeline drugs in the near future.
- The presence of key market participants, supportive government initiatives, and sophisticated healthcare infrastructure, and rising prevalence of risk factors for PAH in the U.S. and Canada would facilitate North America’s supremacy throughout the forecast period
- Asia Pacific is envisaged to exhibit the fastest market growth over the forecast period and would retain its status quo owing to growing elderly population base coupled with increasing incidence of causative diseases of PAH, and rising spending on healthcare in China, India, Japan, and Australia
- Major players in this vertical are GlaxoSmithKline plc; Pfizer Inc.; Gilead Sciences, Inc.; Novartis International AG; Bayer AG; Merck KGaA; Bristol-Myers Squibb Company; United Therapeutics Corporation; Actelion Pharmaceuticals Ltd; Reata Pharmaceuticals, Inc.; Toray Industries, Inc.; Liquidia Technologies, Inc.; and Nuventra Pharma Sciences
Browse Full Report With TOC, Figures And Tables @ https://www.credenceresearch.com/report/pulmonary-arterial-hypertension-pah-treatment-market
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