Pulmonary Arterial Hypertension (PAH) Market: Introduction
According to the report, the global pulmonary arterial hypertension (PAH) market was valued at US$ 5.2 Bn in 2020 and is projected to expand at a CAGR of 5.4% from 2021 to 2028. Pulmonary arterial hypertension (PAH) is an uncommon type of progressive illness linked with high blood pressure. However, prevalence of PAH has increased in the past few years due to rise in risk factors such as HIV, sedentary lifestyle, tobacco & alcohol consumption, smoking, and other idiopathic conditions.
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The available medications to treat PAH can only reduce symptoms, improve the quality of life, and slow down disease progression. Prostacyclin & prostacyclin analogs, endothelin receptor antagonists (ERAs), and phosphodiesterase-5 (PDE-5) inhibitors are the major drug classes prescribed to patients suffering from PAH.
A study conducted by the World Health Organization and the Centers for Disease Control and Prevention suggested that the prevalence of PAH is estimated at about 15 to 50 cases per million, and there is no cure for this disorder in the market. Therefore, the market is expected to witness strong growth in the near future.
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Increase in Global Geriatric Population to Drive Market
The increase in geriatric population in developing countries is projected to propel the global market in the near future. According to a United Nations report, the global geriatric population (people aged 65 years or above) stood at 727 million in 2020. The number is expected to double to reach 1.5 billion by 2050.
The United Nations Population Fund and HelpAge India statistics state that the number of elderly people in India is likely to reach to 173 million by 2026. Hence, the incidence of PAH among the elderly population is projected to increase during the forecast period.
Aging is one of the non-modifiable factors that increases the risk related to PAH. Additionally, elderly people are prone to this disease due to diastolic dysfunction and age-associated blood vessel stiffening. Several educational and awareness programs have been initiated by key players and governments to increase awareness about PAH among healthcare providers and patients. Several government organizations such as the WHO, Million Hearts, and others have undertaken initiatives to create awareness about PAH. These factors are expected to boost the growth of the global market over the next few years.
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Prostacyclin & Prostacyclin Analogs Segment to Dominate Global Market
Based on drug class, the global pulmonary arterial hypertension (PAH) market has been classified into prostacyclin & prostacyclin analogs, PDE-5 inhibitors, ERAs (endothelin receptor antagonists), and soluble guanylate cyclase (sGC) stimulators. The prostacyclin & prostacyclin analogs segment dominated the market in 2020. This can be attributed to high demand and increase in incidence. In July 2021, Uptravi received FDA approval for intravenous use in pulmonary arterial hypertension patients. The SGC simulators segment is anticipated to grow at a rapid pace during the forecast period. sGC stimulators can ensure maximum activation of sGC by potentiating NO-sGC signaling. Riociguat (Adempas from Bayer) is the only drug approved for PAH in this category. Sales of Adempas grew by over 50% in 2020 compared to 2019, indicating significant demand.
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North America to Dominate Global Market
In terms of region, the global pulmonary arterial hypertension (PAH) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global pulmonary arterial hypertension (PAH) market in 2020, followed by Europe. The market in the two regions is expected to witness strong growth during the forecast period. This can be attributed to commercialization of new PAH drugs. Moreover, rise in awareness among the people about availability of treatment for pulmonary arterial hypertension is likely to augment the market in North America and Europe.
Competition Landscape
The global pulmonary arterial hypertension (PAH) market is fragmented in terms of number of players. Key players in the global market include Actelion Pharmaceuticals, Ltd., Gilead Sciences, Inc., GlaxoSmithKline plc, Pfizer, Inc., and United Therapeutics Corporation. These players adopt strategies such as new product development & commercialization, distribution agreements for business expansion, and commercial expansion. Moreover, these companies make significant investments in developing products to boost revenue.
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