The market is predicted to rise significantly over the forecast period due to an increase in the incidence of PAH (pulmonary arterial hypertension), an increase in the elderly population, and increased government assistance for the development of orphan medications. An increasing number of heart failure patients, rising government assistance for the development of orphan pharmaceuticals, a growing geriatric population, and product approvals by regulatory agencies are projected to fuel growth in the pulmonary arterial hypertension medication market throughout the forecast period. Expiration of important molecular patents, drug-related adverse effects, a lack of knowledge among people in developing nations, and high diagnostic and treatment expenses are all impediments.
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 reach US$ 11,220.2 million by 2030, at a CAGR of 5.5% during the forecast period (2022–2030).
Key Competitors in the Pulmonary Arterial Hypertension Industry:
1. GlaxoSmithKline Plc.
GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products. GSK plc was founded in 1715 and is headquartered in Brentford, the United Kingdom.
2. AstraZenca Plc.
AstraZeneca PLC was incorporated in 1992.The company is headquartered in Cambridge, the United Kingdom and operational in more than 100 countries. AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacturing, and commercialization of prescription medicines.
3. Merck KgaA
The company was founded in 1668 and is headquartered in Darmstadt, Germany. Merck KgaA develops, manufactures, and markets pharmaceutical and biological prescription drugs to treat neurology and immunology, oncology, fertility, and cardiology metabolism and endocrinology.
4. Pfizer Inc.
Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sell biopharmaceutical products worldwide
5. Novartis AG.
The company was incorporated in 1996 and is headquartered in Basel, Switzerland. Novartis AG researches, develops, manufactures, and markets healthcare products worldwide.
6. Astra Zeneca PLC
AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development,zmanufacturing, and commercialization of prescription medicines. AstraZeneca PLC was incorporated in 1992 and is headquartered in Cambridge, the United Kingdom. The company serves primary care and specialty care physicians through distributors and local representative offices in the United Kingdom, rest of Europe, the Americas, Asia, Africa, and Australasia. It has a collaboration agreement with Regeneron Pharmaceuticals, Inc. to research, develop, and commercialize small molecule medicines for obesity; Neurimmune AG to develop and commercialize NI006; Ionis Pharmaceuticals, Inc. to develop eplontersen, a liver-targeted antisense therapy in Phase III development for the treatment of transthyretin amyloidosis; Proteros Biostructures GmbH to jointly discover novel small molecules for the treatment of hematological cancers; Sierra Oncology, Inc. to develop and commercialize AZD5153.
7. Sun Pharmaceutical Industries Ltd.
Sun Pharmaceutical Industries Limited, a generic pharmaceutical company, develops, manufactures, and markets branded and generic formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company was founded in 1983 and is based in Mumbai, India.
8. Daiichi Sankyo Co.
Daiichi Sankyo Co., Ltd. engages in the research, development, manufacture, and sale of pharmaceuticals. Its products include drugs for the field of oncology such as Trastuzumab deruxtecan, Anti-HER3-ADC, Quizartinib, Milademetan, Valemetostat, Pexidartinib, Edoxaban, Prasugel, and Microgabalin. The company was founded on September 28, 2005 and is headquartered in Tokyo, Japan
9. Dr. Reddy's Laboratories Ltd
Dr. Reddy's Laboratories Ltd. engages in the manufacture and market of pharmaceutical products. It operates through the following segments: Pharmaceutical Services and Active Ingredient; Global Generics; and Proprietary Products. The Pharmaceutical Services and Active Ingredients segments includes active pharmaceutical ingredients and intermediaries also known as active pharmaceutical products or bulk drug; it also provides research services. The Global Generics segment consists of finished pharmaceutical products ready for consumption. The Proprietary Products segment involves the discovery of new chemical entities for subsequent commercialization and out-licensing. The company was founded on February 24, 1984 and is headquartered in Hyderabad, India.
*Definition - Pulmonary hypertension (PH) is an uncommon condition affecting the pulmonary arteries. It refers to high blood pressure in the lungs (PH). It is distinguished by constricted and clogged arteries and capillaries.
