Pulmonary Arterial Hypertension Market Size, Share & Trends Analysis Report By Drug Class (Prostacyclin And Prostacyclin Analogs, SGC Stimulators, ERA, PDE-5), By Region, And Segment Forecasts, 2021 - 2028
New York, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pulmonary Arterial Hypertension Market Size, Share & Trends Analysis Report By Drug Class, By Region And Segment Forecasts, 2021 - 2028" - https://www.reportlinker.com/p06126818/?utm_source=GNW
Pulmonary Arterial Hypertension Market Growth & Trends
The global pulmonary arterial hypertension market size is expected to reach USD 7.7 billion by 2028. It is expected to expand at a CAGR of 4.9% from 2021 to 2028. Increasing prevalence rates of pulmonary arterial hypertension (PAH) and government support for the development of orphan drugs are fueling the market growth.
The COVID-19 pandemic did not have much impact on the PAH market due to the normal demand for PAH drugs by the patients.All the market players reported positive growth rates in their year-on-year revenues from 2019 to 2020.
However, the supply chains were disrupted to a certain level due to lockdowns in many nations globally. Overall, the impact was neutralized due to the continuous demand for drugs.
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 this disorder is intensifying due to the risk factors such as alcohol/tobacco consumption, HIV, sedentary lifestyle, smoking, and other idiopathic conditions.
The existence of a large geriatric population having lower levels of immunity is prone to PAH and associated diseases is a high impact-rendering factor for the growth of the PAH market over the forecast period. Though the beginning age for PAH is 45 years, it is often observed to occur in a population over 60 years of age.
Government initiatives such as the Rare Disease Act 2002 and The Orphan Drug Act (ODA) 1983 are also anticipated to support market growth.These are the two most vital acts that promote the ethical usage and distribution of orphan drugs.
The development of orphan drugs is promoted by the National Organization of Rare Disorders and has a smaller market share.
Robust drug pipeline and new product combination awaiting approval or launch are anticipated to heighten the market competitiveness over the forecast period. In December 2020, Acceleron Pharma received orphan drug designation for Sotatercept from the European Commission and is available for commercial use in the European markets.
Pulmonary Arterial Hypertension Market Report Highlights
• By drug class, prostacyclin and prostacyclin analogs are projected to witness lucrative growth over the forecast period. The sales of these drugs are anticipated to grow sharply in the future, primarily due to the growth expected in oral prostacyclin agents
• North America dominated the PAH market with over 55.0% share in 2020. This is attributed to its supportive infrastructure for the development and distribution of high-quality therapies. In addition, the availability of reimbursement on PAH therapies support the market growth
• Asia Pacific is anticipated to expand at the fastest CAGR of 5.9% over the forecast period due to its large population base, rapid economic developments, and improving healthcare systems. Besides, the high burden of diseases such as HIV, which are responsible for the development of PAH, foster the growth of this regional market
• The market is consolidated and competitive. Players enjoy the benefit of high entry barriers to other firms due to the high price interdependency
Read the full report: https://www.reportlinker.com/p06126818/?utm_source=GNW
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