Asia Pacific Diltiazem Market Trends and Analysis by 2028

The Asia Pacific diltiazem market is expected to reach US$ 160.34 million by 2028 from US$ 67.84 million in 2021; it is estimated to grow at a CAGR of 13.1% from 2021 to 2028.

Rise in government initiatives for promotion, increase in the prevalence of cardiovascular diseases (CVDs), and rise in the elderly population with heart diseases worldwide are expected to boost the market growth over the years. However, the side effects of Diltiazem on consumption are likely to impact the market's growth in the coming years negatively.

The prevalence of cardiovascular conditions is rising across the world, especially in developing nations. In these nations, the modernized facilities reduced the physical activities of people. Also, the stress level among people is growing. The incidence of CVDs is rising in developing countries, owing to the shift in lifestyle and the other health conditions caused due to the adoption of modernized facilities, which is propelling the demand for Diltiazem. The developing nations are significantly developing their healthcare facilities and services and are heading toward technological advancements. For instance, the structural heart is at the initial stage of development in the regions such as Asia Pacific. In March 2021, Glenmark Pharma gained the final USFDA nod on diltiazem hydrochloride capsules. Glenmark Pharmaceuticals has been granted a competitive generic therapy (CGT) designation for Diltiazem Hydrochloride Extended‐Release Capsules USP, 60 mg, 90 mg, and 120 mg. With the approval, the company has become the first approved applicant for such competitive generic therapy and is eligible for 180 days of CGT exclusivity upon commercial marketing. Also, Glenmark is expanding its footprint in Switzerland and other developing countries. Thus, the opportunities for the market players to enter the market with cost-effective products are higher. Therefore, the factors mentioned above would create lucrative opportunities for the growth of the diltiazem market during the forecast period. Also, the diltiazem market is characterized by various small and big companies across Asia Pacific. The market players adopt strategies such as new product launches, regional expansions, and product approvals to increase their market share. The players are investing in R&D to develop advanced technologies and gain significant revenue share. Thus, recent developments are expected to act as a future trend in the diltiazem market

COVID-19 pandemic has broadly affected economies in the Asia Pacific region. The pandemic has affected three main aspects of the global economy – production, supply chain, and firms and financial markets. The supply chain disruptions and the massive demand for efficient treatments for the therapy of COVID-19 have put the healthcare research industry in a crucial situation in the Asia Pacific region. Prohibitive measures have been taken to control the spread of this pandemic. Recently, patients with both hypertension and obesity have been increasing in Japan at exceptionally high risk of COVID-19, and thus, they need careful observation and intensive treatment. However, it is essential to note that the therapeutic mechanism of calcium channel blockers against COVID-19 still awaits further investigation and randomized controlled clinical trials. This scenario is positively impacting the diltiazem market in Asia Pacific.

 

ASIA PACIFIC DILTIAZEM MARKET SEGMENTATION

By Product Type

• Tablet
• Capsules
• Injection

By Application

• Hypertension
• Angina
• Others

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Company Profiles

• Bausch Health Companies Inc.
• Teva Pharmaceutical Industries Ltd
• MYLAN N.V.
• Pfizer Inc.
• Sandoz (Novartis AG)
• Sun Pharmaceutical Industries Ltd
• Hikma Pharmaceuticals PLC
• Zydus Cadila
• Glenmark

Asia Pacific Diltiazem Report Scope