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Pulmonary Arterial Hypertension Market Size Worth $9.8 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, March 25, 2020 /PRNewswire/ -- The global pulmonary arterial hypertension market size is expected to reach USD 9.8 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 5.6% over the forecast period. Increasing prevalence rates of Pulmonary Arterial Hypertension (PAH) and government support for the development of orphan drugs drive the market growth.
Key suggestions from the report:
- Prostacyclin and its analogs for treating PAH are projected to show lucrative growth over the forecast period. The sales of these drugs are anticipated to increase due to the growing use of oral prostacyclin agents
- North America dominated the PAH market with a share of over 55.0% in 2019. This is attributed to the well-established infrastructure for the development and distribution of high-quality therapies and the availability of reimbursement for PAH therapies
- Asia Pacific is estimated to register the highest CAGR of more than 6.0% over the forecast period due to its huge population base, rapid economic development, and improving healthcare system. Moreover, the high burden of diseases such as HIV in the region contribute to the development of PAH
- The major players in the pulmonary arterial hypertension market that offer treatment solutions for PAH include GlaxoSmithKline plc; Johnson & Johnson Services, Inc. (Actelion Pharmaceuticals, Ltd.); United Therapeutics Corporation; Pfizer, Inc.; and Gilead Sciences, Inc. The market is consolidated and competitive in nature. The players enjoy the benefit of high entry barriers to other firms due to high price interdependency
Read 112 page research report with ToC on "Pulmonary Arterial Hypertension Market Size, Share & Trends Analysis Report By Drug Class (Prostacyclin & Prostacyclin Analogs, Endothelin Receptor Antagonists, Phosphodiesterase 5), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/pulmonary-arterial-hypertension-market
The cases of PAH are rising in the range of 100,000 to 200,000 per year. However, in the past few years, the occurrence of PAH has been increasing due to risk factors such as alcohol/tobacco consumption, HIV, sedentary lifestyle, smoking, and other idiopathic conditions. Moreover, the geriatric population is more prone to PAH and associated diseases owing to reduced immune function. According to the National Council on Aging (NCOA), about 80 percent of the population aged 65 and above have at least one chronic condition such as high cholesterol, diabetes, heart or kidney disease, or chronic obstructive pulmonary disease.
Government initiatives such as the Rare Disease Act 2002 and The Orphan Drug Act (ODA) 1983, are also anticipated to support the market for treatment drugs for PAH. These acts play a significant role in promoting the ethical usage and distribution of orphan drugs. The development of orphan drugs is promoted by the National Organization of Rare Disorders.
Robust drug pipeline and new product combinations awaiting approval or launch are anticipated to increase the PAH market competitiveness over the forecast period. In September 2019, Acceleron Pharma, a leading biopharmaceutical company, received FDA orphan drug designation for sotatercept for the treatment of pulmonary arterial hypertension.
Grand View Research has segmented the global pulmonary arterial hypertension market on the basis of drug class and region:
- Pulmonary Arterial Hypertension Drug Class Outlook (Revenue, USD Million, 2016 - 2027)
- Prostacyclin and Prostacyclin Analogs
- Soluble Guanylate Cyclase (SGC) Stimulators
- Endothelin Receptor Antagonists (ERA)
- Phosphodiesterase 5 (PDE-5)
- Pulmonary Arterial Hypertension Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- United Arab Emirates
- Saudi Arabia
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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