Telmisartan Market Expected to Reach $4,258 Million by 2027

According to a new report published by Allied Market Research, titled, “Telmisartan Market by Indication, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2020–2027," the

global telmisartan market Size was valued at $3,453 million in 2019, and is projected to reach $4,258 million by 2027, registering a CAGR of 3.4% from 2020 to 2027.

Telmisartan belongs to a class of antihypertensive drugs called angiotensin receptor blockers (ARBs). This medication is used to treat hypertension (high blood pressure). It works by blocking the action of certain substances that tighten the blood vessels, letting the blood to flow more smoothly & the heart to pump more efficiently. Telmisartan is also used to decrease the chances of stroke, heart attack or death in persons 55 years of age or older who are at high risk for cardiovascular diseases. Telmisartan comes as a tablet form to take by mouth. Telmisartan drug may be used alone or in combination with other drugs such as hydrochlorothiazide and amlodipine. It is available in different tablet strengths.

Increase in prevalence of high blood pressure (hypertension), growth in geriatric population, surge in number of government initiatives for creating awareness about cardiovascular and blood pressure diseases are the major factors that boost the growth of the telmisartan market. In addition, marketing approvals for generic versions of telmisartan, and chronic disorders such as diabetes, further drives the growth of the market. Moreover, change in lifestyle, which in turn is expected to surge the demand for telmisartan in the global market. However, drug shortages are likely to restrain the growth of the telmisartan market. Conversely, surge in research related to telmisartan drug in emerging economies is expected to offer lucrative opportunities during the forecast period.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. This COVID-19 pandemic has affected telmisartan production and import & export of raw material and finished goods, owing to shutdowns in various COVID-19-affected countries. Temporary disruptions of inputs or production might stress some companies, particularly those with inadequate liquidity. Moreover, delayed shipments & production schedules create financial problems for companies with heavy debts. This, in turn, has limited the impact of COVID-19 on the market.

The global telmisartan market is segmented into indication, distribution channel, and region. 

On the basis of indication, the telmisartan market is categorized into hypertension and cardiovascular risk reduction. Presently, the hypertension segment dominated the global telmisartan market in 2019, and is anticipated to continue this trend during the forecast period. The key factors such as surge in prevalence of hypertension, increase in demand for antihypertensive drugs, and rise in awareness about hypertension and its management by organizing global level campaigns are the key factors that drive the growth of the market.

According to distribution channel, the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online pharmacies. The hospital pharmacies segment is anticipated to depict significant growth during the forecast period due to rise in number of hospital pharmacies globally and wide availability in hospital pharmacies. Moreover, online pharmacies segment is expected to exhibit the highest growth rate during the forecast period, owing to increase in awareness of online pharmacy and rise in number of internet users.

Key Findings Of The Study 

• Based on indication, the hypertension segment held 90.0% share in the global market in 2019.
• On the basis of distribution channel, the hospital pharmacies segment held largest market share in 2019 and is expected to remain dominant throughout the forecast period. 
• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.2% during the forecast period. 

In 2019, North America accounted for the major share in the telmisartan market, owing to easy availability of these drugs. Moreover, surge in incidence of hypertension and rise in geriatric population act as the key drivers of the market in this region. However, Asia-Pacific is projected to register the fastest growth during the forecast period, owing to surge in awareness related to the use of antihypertensive drugs, higher number of R&D activities to develop ideal therapeutics, large number of target population with higher health awareness, availability of trained medical professionals, and supportive reimbursement policies in the healthcare system. Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to growth in prevalence of hypertension with increase in adoption of antihypertensive treatment medication.