Propranolol is a beta adrenergic receptor-blocking type medication used in the treatment or prevention of high blood pressure, post-traumatic stress disorder, irregular heartbeats, tremors, angina pectoris, migraine and anxiety. According to study published in American Heart Association, Inc., hypertension is the leading risk factor for disability and death worldwide. In 2010, Asia and Pacific region had highest burden of hypertension with 439 Mn people suffering from hypertension. As per WHO, propranolol is considered as one of the most essential pharmaceutical drug required in a basic health system. The drug is non selective beta blocker and also able to cross via blood –brain barrier. It inhibit the actions of neurotransmitter and enhances memory consolidation. This advantage of propranolol made it useful for brain disorder too, which created a positive impact of propranolol drug in both heart and brain disorder. Propranolol drug is investigated as potential treatment for post-traumatic stress disorder. Propranolol was first marketed in 1965 under the brand name Inderal by ICI Pharmaceutical which is now known as AstraZeneca.
Propranolol Drug Market: Drivers and Restraints
The global market for propranolol drug market is expected to be driven by rise in incidence of hypertension, and rapidly changing lifestyles in developing countries. Moreover, advancement in pharmaceutical market and funding initiatives in R&D sector are some other key factors that expected to propel the growth of propranolol drug market in the forecast period. As propranolol is a non-selective beta- blocker drug, it shows similar results on lungs, heart and other areas of body, which contributes to the adverse effects like allergic reaction, breathing problem, sudden weight gain, changes in blood sugar etc. Alternative option for propranolol drug and side effects related to drug may restrain the growth of this market.
Propranolol Drug Market: Overview
North America and Europe lead the propranolol drug market due to increase in sedentary lifestyles and increasing aging population, which ultimately increases the rate of hypertension and angina related cases. Under route of administration segment, oral route shows high market growth in propranolol drug market as tablet form is more prescribed by doctors for long term positive effects. Tablets and extended-release capsules come under this segment, which are more preferred and shows favorable patient outcomes. Based on disease indication segment, hypertension account for high shares as compared with other disease types in the propranolol drug market. Hypertension is lifelong disease that means, patient may require to take tablets every day for rest of the life.
Propranolol Drug Market: Regional Overview
Region wise, the global propranolol drug market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America dominated the global market for propranolol drug market. As per the study published by Center for Disease Control and Prevention (CDC) in 2014, nearly 70 Mn American population suffered from hypertension and expected to increase in coming years which will create growth opportunity for propranolol drug market. On other hand, Asia-Pacific is expected to grow at a fast pace over the forecast period owing to changing lifestyle and growing disease population. Moreover, variouspublic awareness programs initiated by medical organizations, to encourage people for regular checkups and explore available treatment options, will result in the strong growth opportunity of propranolol drug market in these regions.
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Propranolol Drug Market: Key Players
Some of the key players in global propranolol drug market includes Glaxosmithkline, Mylan pharmaceuticals inc, Actavis elizabeth llc, Inwood laboratories inc sub forest laboratories inc, Roxane laboratories inc, Baxter healthcare corp, Bedford laboratories, Wyeth ayerst laboratories, Ipca laboratories ltd, Teva pharmaceuticals, Vintage pharmaceuticals, Northstar healthcare holdings ltd, Pliva inc, Interpharm inc, Ivax pharmaceuticals inc, Clonmel healthcare ltd.