Presence of Various Unmet Needs Drives the Peripheral Arterial Disease (PAD) Therapeutics Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) July 09, 2012
Follow us on LinkedIn – Peripheral Arterial Disease (PAD) is a degenerative condition which could lead to claudication, ulcers, gangrene, and possible loss of limbs. Despite various serious implications such as amputations, cardiovascular events and even death, and high prevalence rates, estimated at around 21.56 million by 2015, PAD Therapeutics presents a grim picture in terms of diagnosis and treatment options. Within the medical community, PAD garners far less appeal as compared to conditions such as coronary artery disease, and this comparatively neglectful attitude towards the disease has slowed the uptake of research and development in the field. The revenue-earning potential of the PAD therapeutics market is expected to be significantly impacted in the near future as most of the drugs presently available in the market are generics and inexpensive. This, along with the recent patent expiry of Plavix, the dominant drug in the PAD market, and a weak drug pipeline, would also limit the PAD market revenues in future.
Treatment options presently available for PAD include drugs, surgery, lasers, and drills, which enable opening up of clogged arteries and hardened plague-ridden arterial walls. Therapeutics options presently available for PAD, merely comprises tablets for oral administration, with anti-platelet agents and blood thinners dominating the therapeutics regimen. However, these drugs are marred by safety and efficacy issues. The cost of treating PAD is estimated to be about 6.0% higher than the treatment for Coronary Artery Disease, as blockages in peripheral arteries are of greater length and more diffuse than coronary arteries. Despite initial interventions to free blocked leg arteries, recurrence is a common characteristic of PAD. Repeat hospitalizations and related expenses increase the overall treatment costs as the condition advances. Additionally, as diabetics are found to have more extensive PAD than non-diabetics, greater expense is incurred in the treatment of diabetic PAD sufferers as compared to the non-diabetic PAD patients. In order to prevent the comparatively higher costs associated with the treatment of PAD, more widespread use of diagnostic testing and preventive measures is therefore required to help curb the onset of PAD and to better manage the disease.
Given this backdrop, the presence of various unmet needs imply that the market is moderately served by the current product options and has wide scope available for new entrants that can capture value from the underserved segments. Therefore, pharmaceutical risk-factor modification therapies such as anti-lipid, anti-platelet, and anti-hypertensive medication which can be used to prevent the onset of PAD and Critical Limb Ischemia represent a major market opportunity with the potential to bring in additional revenues. Other contributory factors to realize growth in the PAD therapeutics market include the introduction of innovative molecules that offer enhanced levels of safety and efficacy in the treatment of PAD and CLI, increased awareness, and more widespread utilization of present-day medications that are already commonly available, but underused.
The US represents the largest regional market worldwide, as stated by the new market research report on Peripheral Arterial Disease Therapeutics. Low awareness levels characterize the PAD market in the US, especially among the lesser educated and lower-income strata of the American society. Moreover, only about 25% of the total population in the US is aware of the cardiovascular risk factors that are associated with PAD, such as stroke and heart attack. Even among the medical community, interest and awareness levels about PAD are low, and screening tests are not routinely recommended by healthcare practitioners. Such factors form the underlying contributory causes for the stifled growth observed in the PAD market. However, in recent years, the gravity of the disease has become more widely acknowledged, and with the purpose of increasing awareness levels, early diagnosis of PAD was made a major public health goal in the country. After the US, Europe is the second major market for PAD therapeutics. However, the future growth prospect is expected to emanate from the emerging markets in the Asia-Pacific region, which is the fastest growing market for PAD therapeutics worldwide. Asia-Pacific is forecast to increase at a CAGR of about 7.2% over the analysis period.
A new therapy that is expected to make a significant positive impact on the end stage PAD patients is the placenta-derived stem cell therapy. The therapy, which is presently undergoing early stage clinical trials by Pluristem Therapeutics, showed positive clinical results in terms of safety and improvement in quality of life. Placenta-derived stem cells have been found to be effective in treating critical limb ischemia (CLI), also known as end stage PAD. The key advantage of placenta-derived stem cells is that such therapies would not face ethical issues as faced by stem cells derived from embryos.
Major players profiled in the report include 7TM Pharma A/S, AnGes MG Inc., AstraZeneca Plc., CardioVascular BioTherapeutics Inc., Cytokinetics Inc., Diffusion Pharmaceuticals LLC, Eli Lilly and Company, LTT Bio-Pharma Co., Ltd., miRagen Therapeutics Inc., Multi Gene Vascular Systems Ltd., Nissan Chemical Industries Ltd., Otsuka Pharmaceutical Co., Pluristem Therapeutics Inc., ReNeuron Group PLC, Sanofi, Sucampo Pharmaceuticals Inc., t2cure GmbH, TCA Cellular Therapy LLC, TheraVasc Inc., vasopharm GmbH, among others.
The research report titled “Peripheral Arterial Disease (PAD) Therapeutics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the PAD market, current market trends, key growth drivers, current marketed products, pipeline analysis, patent expiries, product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and forecasts for peripheral arterial disease (PAD) therapeutics market for the years 2010 through 2018 for the following geographic markets - US, Canada, Europe, Asia-Pacific, Latin America, and Rest of World. Also, a six-year (2004-2009) historic analysis is provided for additional perspective.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.