The Global Pulmonary Arterial Hypertension (PAH) Market is expected to exhibit strong growth, reaching USD 10.9 billion by 2030. As per the report titled “Pulmonary arterial hypertension (PAH) Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Endothelin Receptor Antagonists, SGC Stimulators, PDE-5 Inhibitors, Prostacyclin & Prostacyclin Analogs and Others), By Route of Administration (Oral, Intravenous/Subcutaneous and Others), By Type (Innovative and Generics), By Distribution Channel (Hospitals, Retail Pharmacies and Online Pharmacies), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 7.5 billion and USD 10.9 billion in 2030. The market is expected to exhibit a CAGR of 5.50% during the forecast period.
Hangzhou Chance Pharmaceuticals Co Ltd And Aerami Therapeutics, Inc Inked A Contract For Exclusive Licencing And Research (Chance)
In February 2021, Aerami Therapeutics, Inc. and Hangzhou Chance Pharmaceuticals Co. Ltd. (Chance) had an exclusive license and development agreement for the development and marketing of Aerami's drug-device combination product candidate (“AER-901”) for the treatment of PAH in mainland China, Hong Kong, Macau, and Taiwan. According to the contract, Chance oversees the development and commercialization of AER-901 for PAH throughout the region.
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Rising Technological Advancements to Boost Market Expansion
The pulmonary arterial hypertension market is seeing significant growth in major trends related to technological improvements. Companies in the pulmonary arterial hypertension drug industry are concentrating on creating new medications to treat and improve these conditions. For instance, the US-based biotechnology company United Therapeutics Corporation introduced Tyvaso for the Treatment of Pulmonary Hypertension Associated with Interstitial Lung Disease in April 2021. Patients who use Tyvaso improve their capacity for activity, ease breathing issues, have a low threshold for effort, and have a greater death risk.
Drug Side Effects And High Treatment Costs For PAHS Are Limiting Market Expansion
The FDA drug approval process is a drawn-out process that confirms the drug's efficacy and safety. Therefore, over the projected period, the expansion of the business may be constrained by a drawn-out regulatory process and negative impacts related to the use of PAH medications. Patients' ignorance about the frequency of pulmonary arterial hypertension, the discontinuation of drugs by major players during clinical trials, and the high costs of diagnosis and treatment are all expected to constrain the market.
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Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the pulmonary arterial hypertension (PAH) market plan acquisitions to improve their brand recognition globally. For instance, in April 2021, Tyvaso was approved by the FDA and released by United Therapeutics to treat pulmonary hypertension associated with interstitial lung disease. It is the first and only therapy available to Americans with PH-ILD, a dangerous, life-threatening condition that could affect more than 30,000 people.
Recent Development:
September 2021: For $11 billion, the Merck Group, a multinational scientific and technology corporation with headquarters in Germany focused on life sciences and healthcare, purchased Acceleron Pharma. In addition to elevating Merck to the top of the list of businesses specializing in rare diseases, this acquisition will give the corporation control of Acceleron's portfolio of treatments for rare diseases, including etanercept, a Phase III PAH drug.
List of Key Players Profiled in the Report
- United Therapeutics Corporation
- Bayer; Gilead Sciences, Inc.
- Johnson & Johnson
- Viatris Inc.
- GlaxoSmithKline
- Sandoz Inc. (Novartis)
- Lupin Pharmaceuticals, Inc.
- Sun Pharmaceutical Industries, Inc.
- Teva Pharmaceuticals Inc.
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Further Report Findings
- The market in North America is expected to gain a huge portion of the global pulmonary arterial hypertension (PAH) market share in the coming years due to important parties' expanding tactical alliances and partnerships.
- Furthermore, Mannkind had to conduct the study for United Therapeutics for items not subject to the certification and collaboration agreement, which will help the market grow.
- In the Asia Pacific, the growth in this region is primarily driven by increased collaboration for the development of novel products and a rise in the percentage of patients in cardiogenic shock caused by the increasing prevalence of diseases like HIV.
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