The global telmisartan market size was valued at USD 3,407 million in 2021. It is expected to reach USD 4,603 million by 2030, growing at a CAGR of 3.4% during the forecast period (2022–2030). Telmisartan is a non-peptide angiotensin receptor blocker (ARB) used alone to treat hypertension or in combination with other medicines such as hydrochlorothiazide and amlodipine. In addition, it is used to reduce the risk of cardiovascular diseases. Under the brand name Micardis, telmisartan is accessible in tablets of several dosages, including 20, 40, and 80 mg. Generic variants of telmisartan tablets are also available. For hypertension, the daily dose of telmisartan ranges from 40 to 80 mg, while the amount for reducing cardiovascular risk is 80 mg. These medications are accessible at retail stores, online pharmacies, and hospital pharmacies with a doctor's prescription.
Telmisartan functions by inhibiting the activity of chemicals constricting blood arteries, allowing blood to flow more freely and the heart to pump more effectively. The worldwide increase in hypertension incidence fuels the expansion of the global telmisartan market. Additionally, an increase in awareness of the difficulties associated with hypertension and cardiovascular disease is a crucial driver driving the market growth.
Furthermore, the increase in the senior population and sedentary lifestyle are significant market drivers. An increase in the approval of abbreviated new drug applications or ANDA for the production of generic telmisartan tablets and an increase in the incidence of chronic renal disease are also anticipated to drive the expansion of the telmisartan market. However, medication shortages are expected to hinder the market expansion of telmisartan. In contrast, a rise in telmisartan-related research in emerging nations is anticipated to create attractive prospects during the forecast period.
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Globally, the rising incidence of hypertension has become the leading cause of cardiovascular illnesses. As per the American Heart Disease and Stroke Statistics Survey, 103 million persons in the United States suffered from excessive blood pressure in 2018. In addition, according to Public Health England, hypertension impacted more than one-quarter of adults in England in 2017, or around 11.8 million adults aged 16 or older. Furthermore, the WHO predicts that by 2025, more than 1.5 billion people will have excessive blood pressure. Consequently, the alarming increase in the incidence rate of hypertension is a primary contributor to the market for telmisartan medications.
Increases in healthcare cost substantially impact the expansion of the pharmaceutical industry inside the healthcare industry. According to Medicare and Medicaid Services, the National Health Expenditure (NHE) hit USD 3.8 trillion in 2019, representing 17.7% of the US gross domestic product. According to the Australian Bureau of Statistics, the Australian economy expanded by 2.9% in 2017–2018. In addition, this resulted in an increase in disposable income and healthcare spending, which further contributed to the rising demand for pharmaceuticals and medical equipment worldwide.
Moreover, there has been a growth in awareness about the treatment of hypertension, which has increased market growth. For instance, the National Heart Foundation in Australia outlines the most important statements to support better hypertension management. Consequently, an increase in hypertension treatment awareness and an increase in healthcare spending fuel the demand for telmisartan medications, driving the global telmisartan market.
The expansion of the global telmisartan market is projected to be hampered by drug shortages. Medicine Shortages Canada, an organization that offers information on drug shortfalls and discontinuations in Canada, reported a shortage of Teva Pharmaceuticals' telmisartan 80mg tablet owing to non-compliance with good manufacturing practices (GMPs). In June 2018, the United States Food and Drug Administration (USFDA), a federal department of the Department of Health and Human Services, announced a shortage of telmisartan and amlodipine tablets manufactured by Boehringer Ingelheim Pharmaceuticals.
In addition, firms like Amneal Pharmaceuticals, Camber Pharmaceuticals, Hikma, Sandoz, and Torrent Pharmaceuticals also halted the distribution of telmisartan tablets, which restricted the telmisartan market's growth. Thus, the lack of availability of telmisartan medications is expected to be a major issue impeding the global telmisartan market growth.
The continuously increasing life sciences industry in developing nations such as India and China contributes significantly to the market's expansion. Furthermore, developing markets in Asia and LAMEA have a strong development potential due to a large patient base and the rising prevalence of cardiovascular diseases. In addition, essential players like Zydus Cadila, Aurobindo Pharma, Cipla Inc., and Sun Pharmaceutical Industries Ltd. (Ranbaxy Laboratories) contribute to the market's expansion. Therefore, it is anticipated that such variables will provide lucrative chances for telmisartan medicine providers to expand their businesses internationally.
The global telmisartan market share is bifurcated based on indication, distribution channel, and region.
Segmentation based on indication includes Hypertension and Cardiovascular Risk Reduction.
Hypertension is anticipated to command the largest market share, growing at a CAGR of 3.7% during the forecast period. Hypertension is a medical disorder characterized by an increase in arterial blood pressure. The hypertensive patient is highly prone to heart failure, stroke, and aneurysms. Diabetes, obesity, smoking, a sedentary lifestyle, high salt or alcohol intake, a lack of physical activity, chronic kidney disease, and inadequate calcium, potassium, or magnesium consumption are the most prevalent causes of hypertension.
The therapy of this medical condition necessitates an early diagnosis and anti-hypertensive medications. The development of the global telmisartan market is accredited to the worldwide increase in hypertension prevalence and the growing awareness of telmisartan as a treatment for high blood pressure. In addition, the expansion of the market is driven by the aging population. This is since the elderly population has a significant risk of developing hypertension, with about 70% of those older than 60 years suffering from high blood pressure.
Cardiovascular Risk Reduction focuses on myocardial infarction, stroke, and hyperlipidemia. Though other cardiovascular risk factors, such as age and genetics, cannot be modified, lifestyle adjustment is essential for preventing cardiovascular disease. Telmisartan has been proven to lower the chance of developing heart problems and death from cardiovascular causes in individuals 55 years of age or older with a high risk of developing severe cardiovascular illnesses and who cannot take angiotensin-converting enzyme inhibitors.
The factors contributing to this market’s growth include an increase in the prevalence of cardiovascular diseases, an increase in the government's awareness of cardiovascular risk reduction treatments, and an increase in the global geriatric population, as the elderly are highly susceptible to cardiovascular disorders. Furthermore, increased demand for effective drugs and therapies for cardiovascular diseases also contributes to market expansion.
Segmentation based on the distribution channel includes Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies.
The Hospital Pharmacies segment is expected to generate USD 2,427 million, growing at a CAGR of 3.5% during the forecast period. A hospital pharmacy is a specialist branch of pharmacy located on hospital grounds. It is responsible for preparing, storing, compounding, and dispensing pharmaceuticals and medical devices and counseling healthcare professionals and patients on their safe and efficient usage. In addition, these establishments manage the storage and distribution of telmisartan medications prescribed by physicians. This segment's market expansion is driven by an increase in the number of hypertension patients, an increase in the number of hospital pharmacies, and an improvement in the structure of hospital pharmacies in emerging economies such as China and India.
Online-Based Pharmacies are also referred to as internet pharmacies, e-commerce pharmacies, and mail-order pharmacies. Due to a rise in preference for online ordering of pharmaceuticals over traditional means, an increase in knowledge of online pharmacies, and a rise in the number of internet users, the online provider's segment is expected to experience considerable growth throughout the projected period. These pharmacies offer numerous benefits, including more convenience, lower costs, quick access to patient reviews, and price comparisons, which contribute to the expansion of the business. However, unethical providers distribute out-of-date or counterfeit pharmaceuticals, which will impede telmisartan online pharmacies' market expansion.
The regional segments of the global telmisartan market share include North America, Asia-Pacific, Europe, and LAMEA.
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North America is expected to be the highest shareholder, growing at a CAGR of 3.4% during the forecast period. The dominance of North America during the forecast period can be attributed to an increase in the number of hypertension patients, a surge in the deployment of anti-hypertensive drugs, the provision of advanced healthcare facilities staffed by trained medical professionals, and an increase in the number of hospital pharmacies and online pharmacies. Based on the data provided by the Centers for Disease Control and Prevention, 75 million persons in the United States had high blood pressure in 2017. Consequently, an increase in prevalence causes a surge in demand for telmisartan medications in the region.
In addition, the increase in the senior population in the region is a significant factor driving the usage of telmisartan medications. According to the US Census Bureau, the geriatric population in the United States increased from 49.2 million in 2016 to 56.1 million in 2020. Further, this figure is expected to reach approximately 98 million by 2060. Therefore, there is an increase in demand for the medicine telmisartan, as the elderly are more susceptible to chronic renal illnesses followed by hypertension. Other factors that lead to the enhancement of the telmisartan market include an increase in the number of patients with cardiovascular disease, a shift in lifestyle, and an increase in healthcare spending.
Asia-Pacific is expected to grow at a higher CAGR of 5.5% during the forecast period, accounting for USD 1,258 million. This region's countries are densely populated, with China and India ranking first and second. Consequently, a large patient population is anticipated to stimulate the expansion of the Asia-Pacific telmisartan market. An increase in healthcare expenditures and a rise in awareness of the use of telmisartan medications also fuel the market expansion.
Furthermore, significant important players are pretty active in these regions, which contributes to expanding the global telmisartan market. The availability of a large prospective patient base, an increase in new drug launches, and an increase in the use of hypertensive therapies in Asia-Pacific present prospects for market leaders. The increased emphasis of top manufacturers on increasing their geographic presence in rising Asia-Pacific nations to capitalize on significant growth potential drives market expansion.