by The Global 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.
Market Overview:
Telmisartan is an angiotensin II receptor blocker (ARB) used for the treatment of hypertension and adult heart failure. It helps lower blood pressure by relaxing blood vessels and inhibiting the hormone angiotensin II which is a potent vasoconstrictor. Telmisartan provides effective blood pressure control and reduces risks of hospitalization due to heart failure.
Market key trends:
One of the major market trends is rising prevalence of hypertension and heart failure across the globe. According to data from WHO, hypertension affects over 1.13 billion people worldwide. High blood pressure increases the risks of heart diseases, strokes and kidney diseases. Growing awareness programs by governments and healthcare organizations regarding management of hypertension is also boosting the demand for anti-hypertensive drugs like telmisartan. In addition, introduction of generic drugs by key players is expected to increase the adoption of telmisartan due to their lower cost. However, stringent regulations for drug approvals may hinder the growth of telmisartan market.
SWOT Analysis
Strength: Telmisartan is effective in treating high blood pressure and heart failure. It has demonstrated anti-inflammatory properties that reduces cardiovascular risk.
Weakness: Telmisartan has side effects like dizziness, headache, cough and diarrhea which may impact patient compliance. Patent expiration of branded version impact market share of large players.
Opportunity: Increasing geriatric population suffering from hypertension and cardiovascular disorders present growth opportunities. Rising lifestyle diseases prevalence increases treatment scope.
Threats: Strong competition from generic manufacturers can squeeze profit margins of innovators. Price control regulations in certain regions poses challenge.
Key Takeaways
The Global Telmisartan Market Analysis is expected to witness high growth, exhibiting CAGR of 3.4% over the forecast period, due to increasing prevalence of hypertension worldwide. As per WHO, around 1.13 billion people suffered from hypertension in 2019 and the number is estimated to increase further.
Regional analysis
North America is expected to dominate the global Telmisartan market over the forecast period. This is attributed to the growing healthcare expenditure and rising adoption of advanced treatments in the region. Asia Pacific is anticipated to be the fastest growing market owing to increasing healthcare awareness, large patient pool and improving access to treatment.
Key players operating in the Telmisartan market are 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. Abbott Laboratories leads the global Telmisartan market with a revenue share of over 35% in 2023 on account of its diversified product portfolio and strong brand presence. However, other companies like Aurobindo Pharma and Hikma Pharmaceuticals are expected to increase their market share with affordable generic versions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
