A new drug called Uptravi( selexipag), which is a selective IP prostacyclin receptor agonist, is expected to be launched in 2016 and is likely to drive growth of the prostacyclin and prostacyclin analogs market. The rising sales of these newly-approved therapeutic agents are likely to contribute to the overall revenue of the market. Globally, regulatory bodies have granted an Orphan Drug Designation( ODD) status to all those drugs intended to diagnose and treat or cure a rare disease. In the U. S., the Orphan Drug Act( ODA) encourages pharmaceutical industries to develop orphan drugs by offering benefits such as tax credits, research grants, and orphan drug exclusivity of seven years. These benefits are escalating the development, manufacturing, and marketing of drugs intended to treat PAH, thereby driving market growth.
On the basis of surgeries, the global PAH market is classified into Atrial Septostomy- This is an open heart surgery; in which surgeon will create an opening between the upper left and right chambers of your heart to relieve the pressure on the right side of heart. Transplantation- Lung or heart-lung transplant might be an option especially for younger people who have idiopathic pulmonary arterial hypertension.
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Geographically, PAH market is segmented into North America, Europe, Asia Pacific, Latin America, MEA, and Rest of the World. North America held the maximum share of market for PAH in terms of revenue in 2013, which is then followed by Europe. These two developed regions are expected to witness substantial growth during the forecast period, due to the recently approved PAH drugs in the market and the products that are anticipated to receive approval during the next few years. In the Asia Pacific region, Japan, China, India, Australia, and New Zealand exhibit immense opportunities for the companies operating in the PAH market.
The low level of awareness regarding the diagnosis and treatment of PAH is one of the prime reasons restraining the market growth in MEA and rest of the world. The patent expirations of major PAH drugs along with the availability of generic drugs are expected to adversely affect the overall revenue of the market. Some of the major players in the market are Actelion Pharmaceuticals, Ltd., Bayer HealthCare, Gilead Sciences, Inc., GlaxoSmithKline plc, Novartis International AG, Pfizer, Inc. and United Therapeutics Corporation are the key players operating in the global PAH market.
Market Segmentation
Global PAH Drug Class Outlook( Revenue, USD Million, 2014- 2025)
• Prostacyclin and Prostacyclin Analogs
• SGC Stimulators