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The Pulmonary Arterial Hypertension (PAH) therapeutics market will experience modest growth from $3.45 billion in 2014 to $4.75 billion by 2024, representing a Compound Annual Growth Rate (CAGR) of 3.2%, according to research and consulting firm GlobalData.
The company's latest report states that the increase in PAH treatment sales, which will occur across the seven major markets of the US, France, Germany, Italy, Spain, the UK, and Japan, will be driven by new drug launches, the increased use of double and triple combination therapies, and patient assistance programs by manufacturers.
Dr Lakshmi Dharmarajan, GlobalData's Senior Analyst covering Cardiovascular and Metabolic Disorders, says that despite these developments and growth in the PAH arena, significant unmet needs will remain by 2024, the most crucial of which is to find a cure for the fatal disease.
Dr Dharmarajan explains: "While there are currently 12 marketed PAH therapies available, they only serve to slow disease progression. There is no marketed drug that addresses the underlying disease mechanism and targets to cure patients.
"The main challenges in developing curative or stabilizing therapies come from a lack of understanding of the disease mechanism. This is not helped by the fact that most companies in the field are focusing their attention on reformulating existing PAH drugs and enhancing patient convenience, rather than improving efficacy."