SEATTLE, Sept. 13, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global Pulmonary Arterial Hypertension drug market is estimated to be valued at US$ 7,310.1 Million in 2022 and is expected to exhibit a CAGR of 5.5% over the forecast period (2022-2030).
Key Trends and Analysis of the Global Pulmonary Arterial Hypertension Drug Market:
Major players are focusing on drug releases and regulatory approvals, which are expected to drive the global Pulmonary Arterial Hypertension drug market growth during the forecast period. For instance, the U.S. Food and Drug Administration (FDA) approved United Therapeutics' Trevyent New Drug Application (NDA) in September 2019. Trevyent is a drug-device combination product that includes PatchPump technology, which allows treprostilin to be administered subcutaneously.
Furthermore, key players operating in the market are focusing on adoption of inorganic growth strategies such as acquisition and collaboration, in order to expand their product portfolio and presence in the global Pulmonary Arterial Hypertension drug market. For instance, in September 2018, United Therapeutics Corporation, an American publicly traded biotechnology company and MannKind Corporation which is a biopharmaceutical company focusing on the discovery, development, and commercialization of therapeutic products, collaborated on the development and commercialization of dry powder formulations of treprostinil. The companies also intend to sign a research agreement for MannKind to conduct research. This research must be conducted by Mannkind on behalf of United Therapeutics on products outside the scope of the license and cooperation agreement.
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Key Market Takeaways:
The global Pulmonary Arterial Hypertension drug market is expected to exhibit a CAGR of 5.5% during the forecast period, owing to increasing launches and approvals of new products. Major market players are focusing on developing the product and obtaining regulatory approval, which is expected to promote market growth during the forecast period. For instance, in March 2019, the U.S. Food and Drug Administration approved the first generic drug for the treatment of pulmonary arterial hypertension (PAH), Ambrisentan (Letairis).
Among distribution channel, hospital pharmacies is estimated to account for highest market share in 2022. Increasing number of hospitalization due to patients suffering from Pulmonary Arterial Hypertension is fuelling the market growth of hospital pharmacies segment.
Among Region, North America is expected to dominate the market in the forecast period as the medical infrastructure developed in the U.S. promotes the availability of advanced therapies. In addition, increased awareness, high diagnostic rates and supportive government initiatives have controlled the growth of the regional market. Moreover, supporting legislation such as the Rare Disease Act of 2002 and the Orphan Drug Act (ODA) of 1983 in the U.S. encouraged the development of new drugs for PAH.
Key players operating in the global Pulmonary Arterial Hypertension drug market include United Therapeutics Corporation, GlaxoSmithKline plc., Novartis AG, AstraZeneca, Bayer AG, Merck KGaA, Pfizer Inc., Gilead Sciences, Inc., Actelion Pharmaceuticals Ltd, Arena Pharmaceuticals, Daiichi Sankyo Company, Limited, Sandoz AG, Dr. Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd. and Mylan N.V.
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Global Pulmonary Arterial Hypertension Drug Market, By Drug Class:
Endothelin Receptor Antagonists (ERAs)
Phosphodiesterase-5 (PDE-5) Inhibitors
Soluble Guanylate Cyclase (sGC) Stimulators
Calcium Channel Blockers
Global Pulmonary Arterial Hypertension Drug Market, By Route of Administration:
Global Pulmonary Arterial Hypertension Drug Market, By Distribution Channel:
Global Pulmonary Arterial Hypertension Drug Market, By Region:
Middle East & Africa
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