May 29, 2024
Telmisartan Market

The Global Telmisartan Market Growth is driven by increasing prevalence of hypertension

The global Telmisartan market is valued at US$ 4109.53 billion in 2023 and comprises Telmisartan which is an angiotensin II receptor blocker (ARB) prescribed to treat high blood pressure or hypertension. Telmisartan works by blocking the binding of angiotensin II to its receptors in the blood vessels and kidneys, which helps relax the blood vessels and lower blood pressure. It is available in tablet form alone or in combination with other antihypertensive agents for better management of hypertension.

The global Telmisartan Market is estimated to be valued at US$ 4109.53 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the Telmisartan market is the increasing generic drug approvals. Patent expiries of branded drugs have opened lucrative opportunities for generic manufacturers to enter the market. Major pharmaceutical companies have received FDA approvals to manufacture and market generic versions of Telmisartan in tablet strengths of 20 mg, 40 mg and 80 mg. This has intensified the competition and improved access and affordability of Telmisartan therapy for hypertension patients. Further, manufacturers are focusing on developing fixed dose combinations of Telmisartan with other antihypertensive agents like hydrochlorothiazide and amlodipine for enhanced efficacy and better blood pressure control.

Porter’s Analysis

Threat of new entrants: The telmisartan market poses a low threat of new entrants due to high costs involved in R&D, manufacturing, and marketing for drugs.

Bargaining power of buyers: Pharmaceutical companies have significant bargaining power over buyers as there are few substitutes.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and formulations.

Threat of new substitutes: Threat of new substitutes is moderate as newer drugs constantly enter the market.

Competitive rivalry: The market is dominated by large pharmaceutical companies.

Key Takeaways

The Global Telmisartan Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The global Telmisartan Market is estimated to be valued at US$ 4109.53 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.

Regional analysis: Asia Pacific region is expected to dominate the market and witness the fastest growth over the forecast period owing to rising healthcare expenditure and increasing uptake of generics.

Key players: Key players operating in the telmisartan market are Global Self Storage Inc., U-Haul International Inc. (Amerco), Urban Self Storage Inc., Life Storage Inc., Amsdell Cos./Compass Self Storage, CubeSmart LP, All Storage, National Storage Affiliates Trust, National Storage REIT, Safestore Holdings PLC, (Great Value Storage) World Class Capital Group LLC, Simply Self Storage Management LLC, SmartStop Asset Management LLC, StorageMart, Metro Storage LLC, Prime Storage Group, and W. P. Carey Inc.

The telmisartan market is consolidated in nature with large companies having a dominant share. These companies are focusing on expanding their geographical presence and production capabilities to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it