Propranolol hydrochloride is a class of generic drugs available as an injection, tablet, pill, etch used to treat hypertension, chest pain, circulatory disorders, and heart attacks. Propranolol hydrochloride reduces the heart beat rate, thus allowing better blood circulation in the body. It is a synthetic beta-adrenergic receptor blocking agent. The inactive ingredients contained in the agent include cellulose, titanium dioxide, and gelatin. However, with plethora of advantages and applications that are associated with use of propranolol hydrochloride, severe side effects are associated with it. These include congestive heart failure, thrombocyopenic purpura, short-term memory loss, pharyngitis, and agranulocytosis. Another major area of concern associated with propranolol hydrochloride is its administration during pregnancy as it is considered harmful for ladies who are pregnant or trying to conceive.
COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the propranolol hydrochloride market.
Top Impacting Factors
- Increase in the design, development, and distribution of generic medicines is anticipated to drive market growth for propranolol hydrochloride market. Generic drugs are copied drugs that offer similar chemical substance and similar dosage routine. These are majorly used once original drugs expire.
- Growing case of chronic diseases occurring among young adults and the old geriatric population is another major factor for the rise and continued sustainability of propranolol hydrochloride market.
- Semi urban and the newly industrialized economies such as India, China, Russia, South Africa, and the Brazil (BRICS) are likely to witness huge growth as far as overall pharmaceutical industry is concerned, which, in turn, is expected to augment the market growth.
- However, increasing regulatory requirements in Europe and Asia-Pacific with respect to development, sale, and use of generic drugs hamper the growth of propranolol hydrochloride market.
- Additionally, high prices associated with the use and administration of the drug may retrain market growth in underdeveloped and low disposable income economies.
- Furthermore, few side effects are associated with the use of propranolol hydrochloride, including congestive heart failure, thrombocyopenic purpura, short-term memory loss, pharyngitis, and agranulocytosis. These side effects combined with misconceptions and low brand building awareness in third world countries may prove to be a huge hampering factor.
Propranolol Hydrochloride Market Trends.
- North America is anticipated to witness highest market traction, owing to development of the generic drug market, rise in geriatric population, and increased chronic diseases combined with high disposable income to spend on healthcare facilities.
- Middle East and Asia-Pacific are anticipated to gain market with respect to propranolol and overall generic drug industry, due to rising awareness about spread of chronic diseases and robust investments in design and development of new generic drugs.
- Bristol-Myers Squid recently launched Erbitrux, a generic drug for potential treatment of circulatory disorders in the European market and beyond.
Key Benefits of the Report
- This study presents the analytical depiction of the propranolol hydrochloride industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the propranolol hydrochloride market share.
- The current market is quantitatively analyzed to highlight the propranolol hydrochloride market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Propranolol Hydrochloride Report
- Which are the leading players active in the propranolol hydrochloride market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the propranolol hydrochloride market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What is propranolol hydrochloride?
- What is the propranolol hydrochloride market prediction in the future?
- What are the current trends and predicted trends?
Propranolol Hydrochloride Market Report Highlights
By Product Type
By End User
Key Market Players
Amneal Pharmaceuticals LLC, Par Pharmaceuticals, Pierre Fabre Konzern, Mylan Pharmaceuticals Inc., Medtronic Ltd., ANI Pharmaceuticals, Inc., Hikma Pharmaceuticals USA, Auromedics Pharmaceuticals, Fresenius Kabi USA, LLC, Teva Pharmaceutical Industries Ltd