The Insight Partners Latest Research on “Diltiazem Market Forecast to 2028″ Focuses COVID-19 Impact and Global Analysis By Product Type (Tablet, Capsule, Injection); Application (Angina, Hypertension, Others)
“Diltiazem Market is projected to reach US$ 832.51 million by 2028 from US$ 369.95 million in 2021; it is expected to grow at a CAGR of 12.3% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
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Diltiazem is used to treat high blood pressure and to control angina (chest pain). Diltiazem is in a class of medications called calcium-channel blockers. It works by relaxing the blood vessels, so the heart does not have to pump as hard. It also increases the supply of blood and oxygen to the heart.
Market Leaders:
Market leaders operating in the market have undertaken various organic growth strategies in the Diltiazem market. The Diltiazem market majorly consists of the players Bausch Health, Teva Pharmaceutical Industries Ltd, Mylan N.V, Athenex, Pfizer, Inc, Glenmark, Sandoz (Novartis Ag),Sun Pharmaceutical Company Ltd, Hikma Pharmaceuticals, Zydus Pharmaceuticals among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the Diltiazem market:
November 2020: Mylan N.V has completed its mergers with Upjohn and together formed Viatris,. Thus, Mylan NV has transformed into Viatris (Nasdaq: VTRS), the global drug manufacturer formed with the merger of Mylan and the Upjohn division of Pfizer Inc
March 2021: Glenmark Pharmaceuticals’ has received United States Food and Drug Administration (USFDA).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, therefore, with this approval
March 2021: Glenmark Pharmaceuticals receives ANDA approval for Diltiazem Hydrochloride Extended-Release Capsules USP, 60 mg, 90 mg, and 120 mg: Granted competitive generic therapy (CGT) designation and is eligible for 180 days of CGT exclusivity
Covid-19 Outbreaks:
Early during the pandemic, chloroquine and hydroxychloroquine were promoted as efficacious treatments against COVID-19. But a recent report dismissed both drugs showing that they suppress viral growth in the epithelial kidney cell line Vero E6 but not in the relevant epithelial lung Calu-3 cells. Remdesivir initially developed for Ebola treatment, is presently the only antiviral therapy used to effectively treat COVID-19 patients and was shown to improve symptoms in 68% of treated patients in clinical trials. However, with only one efficacious antiviral therapy on the market, there remains a need to identify and provide additional drugs to treat COVID-19 patients. Given the current pandemic and the need for practicality, these drugs should ideally be FDA approved so they can be rapidly repurposed for COVID-19 treatment. SARS-CoV requires Ca2+ ions for host cell entrance and based on the connection between SARS-CoV and SARS-CoV-2, it is very likely that the exact necessities exist for both viruses. Moreover, as per the recent report of bioRxiv published in July 2020, there is evidence that calcium channel blockers (CCB) inhibit viral infections at the cell entry-level. Therefore, treatment with verapamil or diltiazem inhibits viral infection.
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Industry Segments:
By Application
Based on application, the diltiazem market is segmented into segmented into angina, hypertension, and others. In 2021, the hypertension segment held the largest share of the market, by application. Whereas the Angina segment is expected to grow at the fastest CAGR during the coming years. Diltiazem is used to treat high blood pressure and to control angina (chest pain). Diltiazem is in a class of medications called calcium-channel blockers. It works by relaxing the blood vessels, so the heart does not have to pump as hard. It also increases the supply of blood and oxygen to the heart. Thus, rising heart disease and angina is likely to boost the growth of market. For instance, Heart disease cases nearly doubled over the period from 271 million in 1990 to 523 million in 2019, and the number of heart disease deaths rose from 12.1 million to 18.6 million. In 2019, the majority of heart disease deaths were attributed to ischemic heart disease and stroke, with a steady increase from 1990.
By Product:
Based on product type, the diltiazem market is segmented into product type is segmented into capsules, injection, and tablets. In 2021, the tablets segment held the largest share of the market, by product type. However , the capsules segment of Diltiazem Market is also expected to witness fastest CAGR during 2021 to 2028. Factors such as increase in cardiovascular disease incidence and increasing elderly population are driving the market growth. However, side effects of diltiazem is likely to hamper the growth of the market.
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