TELMISARTAN MARKET ANALYSIS

The patent expiration of major drugs in the recent years can hamper the global telmisartan market growth. When blockbuster drugs lose their patent protection, pharmaceutical companies experience a sharp decline in revenues from these products as cheaper generic versions enter the market. For instance, the patent for telmisartan drug expired in many regions including the U.S. in December 2012, which allowed other companies to manufacture and sell generic versions. Major companies such as Boehringer Ingelheim which developed and marketed telmisartan under the brand name Micardis witnessed decline in sales gradually as cheaper generics gained market share. As per data from the U.S. Food and Drug Administration, the approval rate of generic drug applications had increased steadily after 2012 with numerous generic manufacturers launching biosimilar versions of telmisartan hitting the market. The increased availability of low-cost generics created intense price competition which made it difficult for innovator companies to sustain earlier revenue levels. While the overall consumption and volume sales of telmisartan increased due to widespread affordability, the average selling price kept declining annually impacting the profit margins severely. This situation restrained companies pursuing more innovation in this segment.

As per data from World Health Organization, around 60% of the global consumption of telmisartan in 2020 was fulfilled by generic drug manufacturers as compared to only 10% prior to 2012 patent expiration reflecting the shift towards lower-cost alternatives over time.

Market Opportunities: Growing demand for generics

Growing demand for generic drugs around the world offers opportunity for companies in the global telmisartan market. In the recent years, there has been a significant shift towards more affordable healthcare options as the costs of branded pharmaceuticals continue to rise rapidly. More patients and governments are looking to treat health conditions while also managing tight budgets. This preference for lower-cost medicines has fueled the expansion of the generic drug industry.

Telmisartan is a widely used angiotensin receptor blocker (ARB) that treats hypertension and reduces the risk of cardiovascular disease. As the patents on the major branded versions start to expire, many new generic alternatives enter the market. According to data from the World Health Organization, over 50% of all drug prescriptions dispensed worldwide are now filled with a generic medication. This trend is expected to gain further momentum in developing nations struggling with escalating healthcare expenditures. As the population ages and non-communicable diseases like heart disease and diabetes rise globally, the treatment needs will increase substantially. Affordable versions of essential drugs like telmisartan will be pivotal in providing universal access and improving health outcomes. Companies with a strong focus and capabilities in generics will be best positioned to tap into this massive potential. These can develop high quality copies, obtain regulatory approvals, aggressively market their telmisartan offerings and distribute them widely.