The telmisartan market has witnessed steady growth over the past decade driven by rising prevalence of hypertension across both developed and developing nations. Telmisartan is an angiotensin II receptor antagonist primarily used for the treatment of hypertension and diabetic nephropathy. It functions by selectively blocking the renin-angiotensin system and inhibiting the effects of angiotensin II by preventing its binding to appropriate receptors in the blood vessels. Besides its antihypertensive properties, telmisartan also helps minimize the risks of cardiovascular events and end-organ damage in hypertensive patients.
The Global Telmisartan Market is estimated to be valued at US$ 4.20 Bn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031.
Key players operating in the telmisartan market are Boehringer Ingelheim GmbH, Glenmark Pharmaceuticals Ltd., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Aurobindo Pharma, Sun Pharmaceutical Industries Ltd., Mylan N.V., Cipla Ltd., Abbott Laboratories, Cadila Healthcare Ltd, Torrent Pharmaceuticals Ltd., Merck KGaA, Pfizer Inc., Sanofi S.A., Bayer AG, AstraZeneca PLC, Daiichi Sankyo Company, Limited, Macleods Pharmaceuticals Ltd.
Telmisartan Market Growth prevalence of hypertension and diabetic nephropathy globally has accelerated the demand for effective drugs for blood pressure management such as telmisartan. According to WHO, nearly 1.13 billion people suffered from hypertension in 2019 making it a serious public health issue worldwide. Moreover, rising sedentary lifestyle, aging population, and increasing junk food consumption in developing nations have further driven the prevalence of hypertension in recent years. Telmisartan has emerged as one of the most widely prescribed antihypertensives owing to its efficacy, safety, and tolerability as compared to other ARBs and ACE inhibitors. Key players are focusing on capacity expansion in high growth regions to cater to the rising demand for telmisartan drugs. For instance, in September 2021, Zydus Pharmaceuticals announced plans to invest over Rs 250 crore to expand its manufacturing facilities in Gujarat. This will help the company increase production capacities for telmisartan and other anti-hypertensive drugs. Likewise, Boehringer Ingelheim aims to invest over €400 million by 2023 to strengthen production capabilities for essential drugs including telmisartan across key facilities in Germany, China and India. The lucrative growth opportunities in Asia Pacific and Latin America have also attracted several generic manufacturers to foray into the telmisartan marketspace. Rising obesity rates worldwide is a major trend boosting hypertension prevalence. As per WHO, global obesity rates have tripled since 1975 and over 650 million adults were obese in 2016. Obesity is a key risk factor for hypertension since it substantially increases cardiac workload over time. Besides individual risk factors, increasing air pollution levels in urban areas, particularly particulate matter and ozone, have demonstrated an association with short-term elevated blood pressure as well as long-term increased risks of fatal and nonfatal cardiovascular outcomes like strokes and heart disease. This has also augmented the clinical need for antihypertensive drugs like telmisartan. With rising lifestyle diseases caused due to poor diets and sedentary routines, the demand for telmisartan is likely to witness steady gains through 2031.
Porter's Analysis
Threat of new entrants: Low requirement for production facilities and well established brands make it difficult for new companies.
Bargaining power of buyers: Large buyers can negotiate lower prices putting pressure on margins of existing players.
Bargaining power of suppliers: High dependence on key starting material suppliers especially China gives them bargaining power in negotiations.
Threat of new substitutes: Presence of other affordable anti-hypertensive drugs poses threat.
Competitive rivalry: Intense competition between top players to increase market shares and gain new customers.
Geographical Regions
North America currently holds the largest share of the global telmisartan market, primarily due to high awareness regarding hypertension treatment and improved access to healthcare facilities. Europe is the second largest regional market driven by rising prevalence of diabetes and CVDs. Asia Pacific market is expected to witness fastest growth during forecast period led by China, India and Japan on account of growing health consciousness, expanding pharma industry and rising disposable incomes. The telmisartan market in emerging economies of Asia Pacific and Latin America is forecast to exhibit growth at a higher pace compared to developed regions of North America and Europe between 2024-2031. Countries like China, India, Brazil and Mexico will significantly contribute to overall increase in global market value led by increasing healthcare spending, large patient pool suffering from cardiovascular disorders and growing generic drug industry in these nations.
Get this Report in Japanese Language:
Get this Report in Korean Language:
Explore More Related Article On- General Anesthesia Drugs Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
