APAC Anti-hypertensive Therapy Market Hit $15.7 Billion in 2014 and Will Reach $19.9 Billion by 2021, says GBI Research
LONDON, December 23, 2015 /PRNewswire/ --
Modest market growth will be primarily due to the lack of hypertension awareness, which leads to low diagnosis and treatment rates, says GBI Research.
Analysis from business intelligence provider GBI Research - Anti-hypertensive Therapeutics in Asia-Pacific Markets to 2021 - states that the market for anti-hypertensive therapeutics in the Asia-Pacific (APAC) countries of Australia, India, China, and Japan will expand in value from $15.7 billion in 2014 at a modest Compound Annual Growth Rate (CAGR) of 3.4% to reach $19.9 billion by 2021.
Among the four APAC countries, Japan is the largest anti-hypertensive therapy market, with a 52% share and a market valued at $8.1 billion in 2014, but will grow at the slowest rate during the forecast period. For a complimentary sample of this research, please visit the GBI Research website.
Analyst Aswini Nath: "While Japan has a smaller prevalent population than China and India, it has a significantly higher Annual Cost of Therapy (ACoT) than those two countries.
"However, the Japanese market is projected to grow at a CAGR of just 1% to reach $8.7 billion by 2021. This is partly attributable to the early patent expirations of Rasilez (aliskiren) in 2015 and Ometec (olmesartan medoxomil) in 2016."
GBI Research's report also states that India's anti-hypertensive therapeutics market value will expand at the fastest CAGR of 12.6%, more than doubling from $0.8 billion in 2014 to $1.9 billion by 2021.
Nath continues: "India is the second smallest anti-hypertensive therapy market among the four APAC countries, primarily due to the low ACoT, which is currently less than a tenth of that in Japan.
"An aging population, as well as other risk factors such as obesity, physical inactivity, and alcohol consumption will all increase during the forecast period in India, leading to rising disease prevalence. In turn, this will boost demand for pharmacological treatment and drive anti-hypertensive treatment market growth."
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