Global Telmisartan Market By Indication (Hypertension and Cardiovascular Risk Reduction), By Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies and Online Pharmacies), By Regional Outlook, Industry Analysis Report and Forecast, 2020 - 2026
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Get in-depth analysis of the COVID-19 impact on the Telmisartan Market
Market Report Description
The Global Telmisartan Market size is expected to reach $4 billion by 2026, rising at a market growth of 5.8% CAGR during the forecast period. Telmisartan refers to an angiotensin receptor blocker (ARB) utilized alone or combined with other agents in order to treat stroke management, cardiac arrest, and hypertension. Telmisartan is available in various generic forms and under the trade name Micardis. Telmisartan also has its side effects including cough, dizziness, sinus pain, lightheadedness, and others.
Aspects such as rising cases of high blood pressure, growing occurrences of chronic diseases like diabetes, the increasing geriatric population would boost the growth of the global telmisartan market. Moreover, a growing number of approval for abbreviated new drug applications (ANDA) for the production of generic telmisartan tablets would present new growth avenues for the global telmisartan market.
Some of the factors that are responsible for the growth of the Telmisartan market including rising cases of high blood pressure (hypertension), increasing geriatric population, and a surge in supportive government initiatives for increasing awareness about blood pressure diseases. Moreover, the telmisartan market would be supplemented by various factors such as increasing marketing approvals for generic forms of telmisartan, rising sedentary lifestyle, and rising occurrences of chronic diseases like kidney and diabetes.
The World Health Organization (WHO) on January 30, 2020, announced COVID-19 a global public health emergency. COVID-19 has severely impacted approximately 210 nations around the world. Telmisartan tablets manufacturing and distributing companies have been severely impacted by COVID-19 to a certain extent, due to the closure in several COVID-19 affected nations and a surge in the number of healthcare workers falling ill during the outbreak of the COVID-19 pandemic, resulting in the storage of supply.
Based on Indication, the market is segmented into Hypertension and Cardiovascular Risk Reduction. Currently, the hypertension segment procured the maximum revenue share of the market in 2019 and would maintain a similar trend during the forecast period. 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.
Distribution Channel Outlook
Based on Distribution Channel, the market is segmented into Hospital Pharmacies, Drug Stores & Retail Pharmacies and Online Pharmacies. On the basis of distribution channels, the market is segregated into drug stores & retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment would obtain a prominent revenue share during the forecast period 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.
|Market size value in 2019||USD 2.9 Billion|
|Market size forecast in 2026||USD 4 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 5.8% from 2020 to 2026|
|Number of Pages||149|
|Number of Tables||250|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Indication, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Free Valuable Insights: Global Telmisartan Market to reach a market size of $4 Billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America would emerge as the leading region of the global telmisartan market. It is owing to the various product launches in the U.S. For example, in July 2014, Mylan Inc., an international pharmaceutical company introduced telmisartan tablets USP, 20mg, 40mg, and 80 mg, which are the generic form of Boehringer Ingelheim’s Micardis tablets that got the final approval from the US Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Aurobindo Pharma Limited, Boehringer Ingelheim International GmbH, Cipla Limited, GlaxoSmithKline PLC (GSK), Mylan N.V., Sanofi S.A., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., and Cadila Healthcare Ltd. (Zydus Cadila).
Recent Strategies Deployed in Telmisartan Market
- 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.
- Feb-2019: Cipla came into partnership with Wellthy Therapeutics Private Limited. The partnership aimed to provide a combination of pharmacotherapy and digital therapeutics for enhanced patient outcomes in the chronic therapies of diabetology and cardiology.
- Feb-2019: Teva Pharmaceutical introduced ALYQ, a generic version of ADCIRCA1 (tadalafil) tablets, 20 mg in the U.S. It is a phosphodiesterase 5 (PDE5) inhibitor suggested for the treatment of pulmonary arterial hypertension (PAH) (WHO Group 1) to enhance exercise ability.
- Oct-2018: Boehringer Ingelheim received the approval of SEMINTRA 10 mg/mL oral solution by the U.S. Food & Drug Administration. SEMINTRA solution is used to control systemic hypertension in cats, a common condition in older cats. It is developed to make the management of feline hypertension easier for cat owners and veterinarians. SEMINTRA is the only FDA-approved solution for feline hypertension in an easy-to-give formulation.
- Oct-2018: Cipla got approval from the US health regulator to market Metoprolol tablets. These tablets are utilized to cure hypertension and various cardiac conditions. Metoprolol succinate extended-release tablets are used to treat hypertension, lower, Angina Pectoris.
- Sep-2018: Sun Pharmaceutical Industries Ltd. received approval from the U.S. Food and Drug Administration (USFDA) for its New Drug Application (NDA) of XELPROSTM 0.005%. It helps in reducing elevated intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The received approval is from Sun Pharma’s Halol facility.
- Aug-2018: Mylan N.V. launched Tadalafil Tablets USP, 20 mg in the U.S. It was the first generic version of the reference listed drug, Eli Lilly and Company's Adcirca. Mylan Pharmaceuticals got approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA). It also got 180 days of marketing exclusivity for this product that is used for the treatment of pulmonary arterial hypertension to enhance exercise ability.
- Aug-2018: Sun Pharmaceutical released Kapspargo Sprinkle extended-release capsules in the US. It helps in treating hypertension (to lower blood pressure), angina pectoris (chest pain), and heart failure (to minimize the risk of cardiovascular mortality and heart failure hospitalization in patients with heart failure).
- Oct-2017: Boehringer Ingelheim extended its agreement with Astellas Pharma, a Japanese multinational pharmaceutical company. The extended agreement focused on the sales of telmisartan (Micardis family) in Japan.
- Aug-2017: Zydus Cadila received approval from the USFDA to market Telmisartan and Hydrochlorothiazide Tablets USP, in the dosage of 40 mg/12.5 mg, 80mg/12.5 mg, and 80mg/25 mg. Telmisartan and Hydrochlorothiazide Tablets are utilized to cure hypertension.
- May-2017: Aurobindo Pharma got approval from the US Food and Drug Administration (FDA) for its generic version of olmesartan medoxomil and hydrochlorothiazide tablets in 20 mg/12.5 mg, 40 mg/12.5 mg, and 40 mg/25 mg doses. These tablets are used for treating hypertension to lower blood pressure.
- Jan-2017: Agile Pharma, a subsidiary of Aurobindo Pharma completed its acquisition of Generis Farmacêutica, from Magnum Capital Partners. The acquisition strengthened the position of Aurobindo group in the pharmaceutical market in Portugal, with 271 products in its portfolio.
- Nov-2016: Teva Pharmaceutical got the approval of generic Tribenzor 1 tablets in the U.S from FDA. Teva also got approval and launched generic Azor2 tablets in the U.S. These tablets improve Teva’s antihypertensive portfolio.
Scope of the Study
Market Segments Covered in the Report:
- Cardiovascular Risk Reduction
By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Aurobindo Pharma Limited
- Boehringer Ingelheim International GmbH
- Cipla Limited
- GlaxoSmithKline PLC (GSK)
- Mylan N.V.
- Sanofi S.A.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceuticals Industries Ltd.
- Cadila Healthcare Ltd. (Zydus Cadila)
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Telmisartan Market Related Reports:
How valuable will the telmisartan market be in the future?
The global telmisartan market size is expected to reach $4 billion by 2026.
What are the key driving factors and challenges in the telmisartan market?
The increasing number of lifestyle diseases to support the consumption are driving the market in coming years, however, Telmisartan may combine with other drugs and has some side effects have limited the growth of the market.
Has COVID-19 impacted the telmisartan market?
Yes, Telmisartan tablets manufacturing and distributing companies have been severely impacted by COVID-19 to a certain extent, due to the closure in several COVID-19 affected nations and a surge in the number of healthcare workers falling ill during the outbreak of the COVID-19 pandemic, resulting in the storage of supply.
Who are the leading players in the telmisartan market?
Abbott Laboratories, Aurobindo Pharma Limited, Boehringer Ingelheim International GmbH, Cipla Limited, GlaxoSmithKline PLC (GSK), Mylan N.V., Sanofi S.A., Sun Pharmaceutical Industries Ltd., Teva Pharmaceuticals Industries Ltd., and Cadila Healthcare Ltd. (Zydus Cadila).
Which region dominated the telmisartan market in 2019?
The North America market dominated the Global Telmisartan Market by Region in 2019.
Which segment dominated the telmisartan market in 2019?
The Hypertension market dominated the Global Telmisartan Market by Indication in 2019, thereby, growing at a CAGR of 5.7 % during the forecast period.