by Telmisartan is a type of angiotensin II receptor blocker (ARB) used primarily in the treatment of hypertension. It works by blocking the vasoconstrictor and aldosterone-secreting effects of angiotensin II, which is a potent vasoconstrictor involved in regulating arterial blood pressure and fluid balance. Telmisartan is prescribed as a treatment for high blood pressure and heart failure. It is also used to reduce the risk of cardiovascular events in patients who are at increased risk due to other conditions like diabetes or established cardiovascular disease. Telmisartan is available both as a single drug and in combination with other active ingredients like hydrochlorothiazide.
The global telmisartan market is estimated to be valued at US$ 4109.53 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of hypertension is one of the primary factors fueling the growth of the market. According to the World Health Organization (WHO), around 1.13 billion people suffer from hypertension worldwide. Unhealthy lifestyle habits such as lack of physical activity, unhealthy diet, smoking and alcohol consumption are contributing to the increasing cases of high blood pressure across the globe.
Market Dynamics:
Rising prevalence of hypertension and increasing innovative drug innovations are expected to propel the growth of the telmisartan market over the forecast period. According to the above mentioned market report, the telmisartan market is expected to be flourished by rising prevalence of hypertension across the globe. WHO estimates that nearly half of all adults will suffer from hypertension by 2025. This high prevalence will significantly drive the demand for effective hypertension drugs like telmisartan during the forecast period. Besides, continuous innovations by key pharmaceutical companies in developing novel drug delivery systems and combination therapies of telmisartan are also fueling the market growth. For instance, several formulations have been introduced in the market that combine telmisartan with other antihypertensive drugs like amlodipine or hydrochlorothiazide, which enhances the efficacy of treatment and improves patient compliance.
Segment Analysis
The global telmisartan market is dominated by the 40 mg sub-segment accounting for over 35% market share in 2024 owing to highest prescription rates of this dosage for treatment of hypertension. The 80 mg sub-segment is expected to witness fastest growth during the forecast period due to increasing uptake with rising severity of cases requiring higher dosage.
PEST Analysis
Political: Governments across major countries are focused on universal healthcare programs improving accessibility and affordability of chronic disease therapies like telmisartan thereby positively impacting market growth.
Economic: Rising healthcare expenditure and disposable income especially in developing countries is increasing demand for chronic illness management medications like telmisartan for hypertension treatment.
Social: Growing prevalence of hypertension and increasing health awareness.
Technological: Advancements in drug delivery systems improving bioavailability and patient compliance for telmisartan therapies will aid the market during the forecast period.
Key Takeaways
The Global Telmisartan Market Demand is expected to witness high growth at a CAGR of 5.2% during the forecast period of 2024 to 2031.
Regional analysis indicates Asia Pacific as the fastest growing region owing to large patient pool and improving access and affordability in major markets like China and India.
Key players operating in the telmisartan market are Global Self Storage Inc., U-Haul International Inc. (Amerco), Urban Self Storage Inc., Life Storage Inc., Amsdell Cos./Compass Self Storage, CubeSmart LP, All Storage, National Storage Affiliates Trust, National Storage REIT, Safestore Holdings PLC, (Great Value Storage) World Class Capital Group LLC, Simply Self Storage Management LLC, SmartStop Asset Management LLC, StorageMart, Metro Storage LLC, Prime Storage Group, and W. P. Carey Inc.
Key market players are focusing on emerging markets for greater revenue opportunities and have undertaken various organic and inorganic growth initiatives for garnering higher market shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
