Telmisartan Market Analysis and Global Forecast 2023-2033

Telmisartan Market Overview

The Telmisartan Market Size is expected to reach USD 4.68 Billion by 2033. The Telmisartan Market industry size accounted for USD 3.54 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 3.47% from 2023 to 2033. The Telmisartan Market refers to the market for the drug Telmisartan, which is primarily used to treat hypertension (high blood pressure). In the pharmaceutical industry, Telmisartan is an angiotensin II receptor blocker (ARB) that works by relaxing blood vessels, thus lowering blood pressure and improving blood flow.

The market includes the production, distribution, and sale of Telmisartan-based medications, as well as research and development activities related to this drug. Telmisartan is also prescribed to reduce the risk of stroke, heart attack, and death in people at high risk for cardiovascular events.

Global Telmisartan Market Synopsis

COVID-19 Impact Analysis

The COVID-19 pandemic had significant impacts on the Telmisartan Market. Initially, there were disruptions in the supply chain due to lockdowns and restrictions on movement, affecting the availability of raw materials and finished products. There has been a shift in demand patterns due to COVID-19. Some patients may have delayed or avoided visiting healthcare facilities for routine check-ups, impacting the prescription rates for hypertension medications like Telmisartan. Healthcare systems have been under strain due to the pandemic, potentially affecting the diagnosis and treatment of chronic conditions like hypertension. The pandemic has also influenced research and development efforts related to hypertension and cardiovascular health, which may impact future developments in the Telmisartan Market.

Telmisartan Market Dynamics

The major factors that have impacted the growth of Telmisartan Market are as follows:

Drivers:

Ø  Rising Awareness about Cardiovascular Health

Increased awareness about the risks associated with hypertension and cardiovascular diseases has led to higher diagnosis rates and greater treatment adherence, boosting the demand for medications like Telmisartan. Advances in pharmaceutical technology and formulation techniques have improved the efficacy and tolerability of Telmisartan, making it a preferred choice among healthcare providers and patients. Increasing healthcare expenditure, especially in developing countries, supports the adoption of advanced medications like Telmisartan. Ongoing research and development activities aimed at improving existing treatments and developing new formulations of Telmisartan contribute to market growth.

Restraint:

• Perception of Side Effects and Safety Concerns

Despite being generally well-tolerated, Telmisartan, like all medications, can have side effects and safety concerns. Negative perceptions or reports about side effects could lead to decreased prescription rates and patient compliance, impacting market growth. Regulatory requirements and compliance standards in different regions can pose challenges for market entry or expansion. Delays in obtaining approvals or complying with regulatory changes can hinder market growth for Telmisartan products. Limited access to healthcare services and affordability issues, particularly in developing countries, may restrict the adoption of Telmisartan among patients who need it, thereby restraining market growth.

Opportunity:

⮚      Increasing Aging Population

The global population is aging, and older adults are more susceptible to hypertension and related cardiovascular diseases. This demographic trend is expected to increase the demand for Telmisartan and other antihypertensive medications. Growing awareness about hypertension, coupled with increasing healthcare expenditures, particularly in emerging economies, presents opportunities for market expansion. The increasing adoption of digital health solutions and telemedicine can improve patient access to healthcare services, potentially increasing the diagnosis and treatment rates of hypertension, thereby benefiting the Telmisartan Market.

Telmisartan Market Segment Overview

By Indication

Based on Indication, the market is segmented based on Hypertension and Cardiovascular Risk Reduction. The hypertension dominant the market. Various determinants including rising hypertension cases, surging demand for antihypertensive drugs, and increasing awareness about hypertension & its management by holding campaigns on a worldwide level would propel the growth of the segment.

By Sales Channel

Based on Sales Channel, the market segment has been divided into the Hospital Pharmacies, Drug Stores and Retail Pharmacies and Online Pharmacies. The hospital pharmacies segment dominant the market, owing to the increasing number of hospital pharmacies around the globe and broad-scale accessibility of hospital pharmacies. Moreover, the growth of the segment can be credited to the growing hospitalized hypertension patients & development in the structure of hospital pharmacies in developing countries like China and India.

Global Telmisartan Market Regional Analysis

Based on region, the global Telmisartan Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Telmisartan Market followed by the Asia-Pacific and Europe regions.

Telmisartan North America Market

North America holds a dominant position in the Telmisartan Market. United States and Canada countries have well-established healthcare systems with high awareness about hypertension. The market is driven by a large patient pool and strong healthcare spending. Generic competition is significant due to patent expirations.

Telmisartan Asia-Pacific Market

The Asia-Pacific region has indeed emerged as the fastest-growing market for the Telmisartan Market industry. The largest market in the Asia-Pacific region, with a growing middle class and increasing healthcare expenditures. There is significant potential due to the large population and increasing prevalence of hypertension. India is increasing healthcare access and rising awareness about hypertension are driving market growth. Generic competition is also prevalent.

Competitive Landscape

The global Telmisartan Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.

Prominent Players:

• Abbott Laboratories
• Aurobindo Pharma
• Boehringer Ingelheim International GmbH
• Cipla Inc
• Glaxosmithkline Plc
• Mylan N.V.
• Sanofi
• Sun Pharmaceutical Industries Limited
• Teva Pharmaceutical Industries Ltd
• Zydus Cadila

Key Development

In Jun 2020, Cipla partnered with Boehringer Ingelheim India. Under this partnership, the companies aimed to co-market three new oral anti-diabetics drugs Oboravo (Empagliflozin), Oboravo Met (Empagliflozin+Metformin), and Tiptengio (Empagliflozin+Linagliptin). Empagliflozin is approved for glucose-control in patients with type-2 diabetes; it is also approved to decrease the risk of cardiovascular death, in patients with type-2 diabetes and cardiovascular disease.

Scope of the Report

Global Telmisartan Market, by Indication

• Hypertension
• Cardiovascular Risk Reduction

Global Telmisartan Market, by Sales Channel

• Hospital Pharmacies
• Drug Stores and Retail Pharmacies
• Online Pharmacies

Global Telmisartan Market, by Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Benelux
  • Nordic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Indonesia
  • Austalia
  • Malaysia
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of Middle East & Africa

 

Parameters	Indicators
Market Size	2033: $4.68 Billion/strong>
CAGR	3.47% CAGR (2023-2033)
Base year	2022
Forecast Period	2023-2033
Historical Data	2021
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Segmentations	Indication, Sales Channel
Geographies Covered	North America, Europe, Asia-Pacific, Latin America, Middle East, Africa
Key Vendors	Abbott Laboratories, Aurobindo Pharma, Boehringer Ingelheim International GmbH, Cipla Inc, Glaxosmithkline Plc, Mylan N.V., Sanofi, Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd and Zydus Cadila.
Key Market Opportunities	• Increasing Aging Population • Digital Health and Telemedicine
Key Market Drivers	• Technological Advancements • Rising Awareness about Cardiovascular Health

 

REPORT CONTENT BRIEF:

• High-level analysis of the current and future Telmisartan Market trends and opportunities
• Detailed analysis of current market drivers, restraining factors, and opportunities in the future
• Telmisartan Market historical market size for the year 2021, and forecast from 2023 to 2033
• Telmisartan Market share analysis at each product level
• Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
• Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
• To identify and understand the various factors involved in the global Telmisartan Market affected by the pandemic
• To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.