Availability of Generics at Affordable Costs Due to Growing Patent Expiration offers Opportunity in Pulmonary Arterial Hypertension Market

According to our new research study on "Pulmonary Arterial Hypertension Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Drug, Type, Route of Administration, and Distribution Channel," the market was valued at US$ 7,369.89 million in 2021 and is projected to reach US$ 10,889.08 million by 2028; it is expected to grow at a CAGR of 5.8% from 2022 to 2028. The report highlights trends prevailing in the market and drivers and restraints pertaining to the pulmonary arterial hypertension market growth.

Patent expiry permits generic drugs to penetrate the market and diversify product offerings. Over the next seven-eight years till 2030, the patented products are expected to go off-patent. This would provide an enormous opportunity for generic formulation companies in the coming years. Many pharma companies are already working to develop the generic version of patented products, finds Care Ratings. After patent expiration, generic versions of drugs can become available. While consumers benefit from low prices, losing patent protection can expose pharmaceutical companies to growing competition. Thus, patent expiration is expected to open up an opportunity for generic drug manufacturers to enter a new market.

Thus, the growing patent expiration will offer lucrative opportunities for the global pulmonary arterial hypertension market expansion in the future.

North America held the largest share of the pulmonary arterial hypertension market in 2021. The market in North America is expected to grow in the coming years due to the increasing health expenditure, high pulmonary arterial hypertension prevalence, initiatives by government and manufacturers, and major market players' presence in the US.

The pulmonary arterial hypertension market in the US was valued at US$ 1,970.59 million in 2021 and is projected to reach US$ 3,019.55 million by 2028, at a CAGR of 6.3% during 2021-2028. In the country, the rising cases of PAH diagnosed each year and initiatives undertaken by drug manufacturers are fueling the demand for pulmonary arterial hypertension drugs and other treatment methods.

The pulmonary arterial hypertension market witnessed low demand as patients were unable to take therapies and treatments from healthcare providers during COVID-19 pandemic. However, by 2021, the market has shown recovery as the pandemic had minimal impact on the sales of PAH drugs. Also, major manufacturers reported having a continuous supply of stock for customers.

Johnson & Johnson, Gilead Sciences Inc, United Therapeutics Corp, Bayer AG, Aerami Therapeutics Holdings Inc, Novartis AG, GSK Plc, Teva Pharmaceutical Industries Ltd, Lupin Ltd, and Pfizer Inc are among the leading companies operating in the global pulmonary arterial hypertension market.

Pulmonary Arterial Hypertension Market, by Region, 2021 (%)

The pulmonary arterial hypertension market is segmented on the basis of drug, type, route of administration, distribution channel, and geography. Based on drug, the market is segmented into endothelin receptor antagonists (ERAs), prostacyclin and prostacyclin analogs, sGC stimulators, and pde-5 dipsticks. Based on type, the pulmonary arterial hypertension market is bifurcated into branded and generics. Based on route of administration, the pulmonary arterial hypertension market is divided into oral, intravenous/ subcutaneous, and inhalational. In terms of distribution channel, the pulmonary arterial hypertension market is segmented into hospital pharmacies and clinics, online pharmacies, and retail pharmacies.

In terms of geography, the pulmonary arterial hypertension market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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