Augmented Expansion to be Registered by Pulmonary Arterial Hypertension (PAH) Market at 17.9% CAGR b
Added: (Wed Dec 06 2017)
Transparency Market Research (TMR), a market intelligence and research firm, has published a market study on the global pulmonary arterial hypertension (PAH) market, estimating the total value of this worldwide market to be US$5.19 bn by 2020. The market was valued at US$4.04 bn in 2013 and is likely to expand at an impressive CAGR of 17.90% during the period from 2014 to 2020.The research report, titled “Pulmonary Arterial Hypertension (PAH) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, states that initiatives by several governments promoting the research and development of orphan drugs has been fueling the global market for PAH of late. Analysts project the recently approved therapeutic agents to stimulate the global PAH market significantly over the forecast period.
According to the market report, the global PAH market has been evaluated on the basis of drug classes and regional distribution. Prostacyclin, prostacyclin analogs, PDE-5 inhibitors, ERAs, and sGC stimulators are the key drugs available in the global market to treat PAH. ERAs led the global market in 2013, accounting for a market share of 55.8% in terms of revenue.
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Analysts, however, have predicted that the market for prostacyclin and prostacyclin analogs will surpass the ERAs market by the end of the forecast period. The launch of the recently approved Orenitram is likely to propel this market segment during the forecast period. The approval for Uptravi, which is slated in Q1 of 2016, is also anticipated to add to the market segment’s growth prospects, notes the research study.North America, Europe, Asia Pacific, and the Rest of the World are the key regional markets for pulmonary arterial hypertension across the world. Among these, the PAH market in North America led the global market with a share of 44.6% in 2013 and was closely followed by the Europe PAH market.
Over the forecast period, both these regional markets are expected to exhibit remarkable growth, owing to the availability of newly-approved PAH drugs as well as products waiting to gain approval in these markets.The Asia Pacific market for PAH is also projected to show significant development in the next few years. India, China, Japan, New Zealand, and Australia are likely to present opportunity-rich markets for enterprises operating in the global PAH market. On the other hand, the Rest in the World PAH market is facing severe challenges, owing to the low awareness level pertaining to the detection and treatment of pulmonary arterial hypertension, states the market study.
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The major players operating in the global market for pulmonary arterial hypertension are Actelion Pharmaceuticals Ltd., Gilead Sciences Inc., Bayer HealthCare, GlaxoSmithKline plc, Pfizer Inc., Novartis International AG, and United Therapeutics Corp., states the research report.