The Telmisartan Market Is One Of The Rapidly Growing Pharmaceutical Markets.

Telmisartan Market

 The Telmisartan Market is estimated to be valued at US$ 3567.30 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The Telmisartan Market is one of the rapidly growing pharmaceutical markets. Telmisartan is an angiotensin II receptor antagonist used primarily in treatment of hypertension. It provides an effective blood pressure reduction even in difficult-to-treat hypertensive patients.

Market Overview:

Telmisartan is an oral medication used primarily to treat high blood pressure or hypertension. It works by blocking angiotensin II, a hormone that causes blood vessels to tighten. By blocking this hormone, telmisartan helps blood vessels relax and expand which can help lower blood pressure. Telmisartan is also used to reduce the risk of cardiovascular problems such as heart attacks and stroke in certain patients.

Market key trends:

Growing prevalence of hypertension is a key driver of telmisartan market growth. According to World Health Organization (WHO), the prevalence of hypertension has risen globally from 22% to 31% between 2000 and 2020. Moreover, rising geriatric population worldwide is also fueling the demand as elderly people are more prone to developing hypertension. As per United Nations, the number of people worldwide aged 60 years or above is projected to double from 962 million in 2017 to 2.1 billion in 2050. Rising awareness about treatment and management of hypertension is another factor contributing to market expansion. Penetration of generic versions of telmisartan following patent expirations is further augmenting the market growth.

Porter's Analysis

Threat of new entrants: The established presence of major pharmaceutical players makes entry difficult for new entrants due to high capital requirement and stringent regulations.

Bargaining power of buyers: Large pharmaceutical buyers can negotiate prices down but demand for the drug restricts this power.

Bargaining power of suppliers: Major suppliers like drug manufacturers yield significant influence on pricing and supplies.

Threat of new substitutes: Alternatives like losartan also treats hypertension but telmisartan has certain advantages that reduce threat of substitution.

Competitive rivalry: Intense competition exists between key manufacturers to gain higher market share.

SWOT Analysis

Strength: Telmisartan is effective for treatment of hypertension with minimal side effects. It also helps manage diabetic kidney disease and reduces risk of cardiovascular events.

Weakness: Generic versions erode brand dominance and impact profit margins of innovator drugs. Stringent regulatory norms increase compliance costs.

Opportunity: Rising geriatric population susceptible to hypertension in developing nations offers scope for market expansion.

Threats: Patent expiries pave way for entry of cheaper generics. Drug development pipeline of competitors poses challenge.

Key Takeaways

The Global Telmisartan Market Analysis is one of the rapidly growing pharmaceutical markets. is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing prevalence of hypertension worldwide. Asia Pacific region currently dominates the market due to large patient pool and is estimated to maintain its lead position throughout the forecast period.

Regional analysis: Asia Pacific holds over 35% value share and is expected to remain the most lucrative region owing to rapidly growing elderly populace in China and India susceptible to hypertension. North America holds second largest share and growth will be supported by favorable insurance coverage and significant healthcare spending.

Key players: Key players operating in the Telmisartan market include Abbott Laboratories, Aurobindo Pharma USA, Boehringer Ingelheim International GmbH, Cipla Limited, Hikma Pharmaceuticals plc, Jubilant Cadista Pharmaceutical, Sanofi S.A., Solco Healthcare (Prinston Pharmaceutical Inc.) and Torrent Pharmaceuticals Ltd. The major players are focusing on product innovation and launches.

For more details on the report,  Read - https://www.dailyprbulletin.com/the-growth-of-the-global-telmisartan-market-trend-growth