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 antagonist (ARB) used for the treatment of hypertension and heart failure. It works by relaxing blood vessels and lowering blood pressure. Telmisartan is also used to reduce cardiovascular risk in adult patients with diabetes mellitus and kidney disease. It comes as oral tablets to be taken once per day with or without food. Telmisartan has various benefits like effective control of blood pressure, reduction in cardiovascular complications, protection of kidney function and minimal side effects.
Market key trends:
One of the key trends in the Telmisartan market is the growing prevalence of hypertension across the world. According to World Health Organization, the prevalence of hypertension in adults aged 18+ years is around 39% of the total global population. High blood pressure is a major risk factor for cardiovascular diseases such as heart attacks and strokes which are a leading cause of death globally. As the cases of hypertension continue to surge, the demand for effective antihypertensive drugs like Telmisartan is also expected to grow significantly during the forecast period. Another trend is the patent expiry of several major brands of Telmisartan offering opportunities for generic manufacturers to expand their market share.
Porter’s Analysis
Threat of new entrants: Low, due to high capital requirements and stringent regulations governing the pharmaceutical industry.
Bargaining power of buyers: Moderate, as buyers have low switching costs and can easily replace telmisartan with other similar antihypertensive drugs in the market.
Bargaining power of suppliers: Moderate, as raw materials procurement is dominated by a few major suppliers.
Threat of new substitutes: High, owing to availability of a large number of generic and equivalent antihypertensive drugs in the market.
Competitive rivalry: High, characterized by pricing pressures and focus on research & development of new drug delivery systems to gain competitive advantage.
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. The Asia Pacific region currently dominates the telmisartan market and is expected to retain its dominance over the forecast period, owing to rapidly growing economies and healthcare industries in emerging countries such as India and China.
The North American telmisartan market is projected to exhibit a substantial growth rate over 2023-2030. This can be attributed to rising awareness regarding lifestyle-related diseases and heavy R&D investments in drug development by leading pharmaceutical players.
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. These companies adopt strategies like new product launches, collaborations and regional expansions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
