Pulmonary Arterial Hypertension Market Growth & Trends
The global pulmonary arterial hypertension market size is anticipated to reach USD 11.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a lucrative CAGR of 5.32% from 2023 to 2030. The key factors driving the market growth include the increasing prevalence of pulmonary arterial hypertension, drug development and technological advancements, product approvals, and initiatives by key companies.
The COVID-19 pandemic had a notable impact on the market. The pandemic created uncertain market conditions and lead to dampened growth. Other impacts of the pandemic include operational challenges, supply chain bottlenecks, challenges in conducting clinical trials, among others. Market players also reported a reduction in new patient starts and new patient prescriptions during 2020.
For instance, the sales of Remodulin, Tyvaso, and Orenitram were affected by the reduction in new patient starts, during the second quarter of 2020. However, the new patient starts gradually recovered to pre-pandemic numbers during the second half of 2020. Market players responded to the COVID-19 pandemic by deploying various initiatives. These included maintaining a strong financial position, maintaining ample supply of products, deploying measures to facilitate uninterrupted distribution to patients, and R&D activities among others. Overall sales of PAH drugs, however, were largely unaffected by the pandemic as market players ensured ample supply during the pandemic.
Supportive product approvals by regulatory agencies such as an extended indication of use, first generics approval, approval of drug delivery devices, etc. are estimated to fuel the market growth in the near future. In March 2021, United Therapeutics’ Tyvaso received FDA clearance for use in patients with pulmonary hypertension associated with interstitial lung disease. In February 2021, the company launched- the Remunity Pump in the U.S.- a new subcutaneous delivery system for its key treprostinil product Remodulin.
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Pulmonary Arterial Hypertension Market Report
Report Attribute Details
Market size value in 2023 — USD 7.6 billion
Revenue forecast in 2030 — USD 11.0 billion
Growth Rate — CAGR of 5.32% from 2023 to 2030
Base year for estimation — 2022
Historical data — 2017–2021
Forecast period — 2023–2030
Pulmonary Arterial Hypertension Market Report Highlights
- The market was valued at USD 7.3 billion in 2022 and is expected to expand at a CAGR of 5.32% during the forecast period
- The prostacyclin and prostacyclin analogs segment held the largest share of the market by drug class in 2022. The sales of these drugs are anticipated to grow sharply in the future, primarily due to the growth expected in oral, intravenous, subcutaneous, and inhalational prostacyclin agents
- The branded drugs segment dominated the market in 2022 while the generics segment is anticipated to grow at the fastest rate from 2023 to 2030
- In 2022, the oral segment accounted for the largest revenue share of the market by route of administration owing to the greater availability of PAH formulations as oral products such as tablets, powders, and suspension
- North America dominated the market in 2022 owing to a high adoption rate and supportive infrastructure for the development and distribution of high-quality therapies. Also, the availability of reimbursement on PAH therapies supported market growth
- Asia Pacific is anticipated to witness the fastest CAGR over the forecast period due to its huge population base, rapid economic developments, and improving healthcare infrastructure
