Global Pulmonary Arterial Hypertension Market: Snapshot
Pulmonary arterial hypertension (PAH) is an uncommon type of progressive illness linked with high blood pressure. Nevertheless, the last few years, the increasing prevalence of PAH disorder due to rising risk factors such as HIV, sedentary lifestyle, tobacco and alcohol consumption, smoking, and other idiopathic conditions. As per the study conducted by World Health Organization and Centre for Disease Control and Prevention suggests that the prevalence of PAH is estimated to about 15 to 50 cases per million heads, and there is no everlasting cure for this disorder present in the market. Therefore, there is a high growth opportunities for the market to grow in the near future.
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Various treatment are available in the market that helps in controlling and slowing down the growth of the diseases and improves the quality of life. In addition, the approval of few effective drugs and the occurrence of favorable pipeline are some of primary factors that drive the market growth. Favorable policies by government has contributed in boosting the demand in the global pulmonary arterial hypertension market.
According to Transparency Market Research, the global pulmonary arterial hypertension market is projected to rise at a promising CAGR of 17.90% over the forecast tenure between 2014 and 2020. In terms of revenue, the market is expected to touch US$5.19 bn by 2020.
Approval of New Drugs to Expand Market Growth
Based on drug class that includes prostacyclin and prostacyclin analogs, PDE-5 inhibitors, ERAs (endothelin receptor antagonists), and soluble guanylate cyclase (sGC) stimulators. In terms of value, ERAs segment is projected to dominate the market over the forecast tenure. On the other hand, during the forecast period prostacyclin and prostacyclin analogs segment is estimated to exceed the ERAs segment. This is because of the commercialization of novel drugs such as Uptravi (selexipag) in December 2015. Based on sGC stimulator, Adempas (riociguat) is the only certified drug used for treating PAH.
Presence of Favorable Pipeline Drugs to Boost Market in North America
Geographically, North America is dominated the global pulmonary arterial hypertension market and is projected to continue its dominance by contributing the major share by the end of 2020. North America is followed by Europe and both the regions are projected to grow remarkably throughout the forecast tenure. This is because the availability of commercialization of new PAH drugs coupled with the incidence of favorable pipeline drugs. In addition, growing awareness among the people of the regions for increasing availability of treatment for pulmonary arterial hypertension is also pushing the market growth.
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Moreover, Asia Pacific also possess lucrative opportunities for the market. Countries like Japan, New Zealand, Australia, China, and India are projected to display high growth opportunities over the forecast period attributing to growing penetration of global players. Contrary to that, the rest of the world is expected to exhibit sluggish growth throughout the forecast tenure. The reason behind the sluggish growth is low awareness about the treatment and detection of PAH that is expected to obstruct the market to grow at its full potential.
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