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