North American prazosin market is estimated to decline at a CAGR of around -1.9% during the forecast period. Moreover, the discontinuation of prazosin drug manufacturing by various companies also showcases the low opportunity in the market. In the US, Pfizer has discontinued Minipress XL, Minizide, and only marketing Minipress. Other companies including Watson Labs, Ani Pharms Inc., Dava Pharms Inc., Purepac Pharm has already discontinued the manufacturing of prazosin hydrochloride in the US market. Lower sales of the branded drug are also restraining the growth of the market. As per ClinCalc LLC (an online medical resource tool website), the prescription of prazosin in the US was increased to 2.4 million in 2016 from around 1.0 million in 2014. After 2016, the number of prescriptions of prazosin is expected to decrease continuously in the near future. 

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The North American prazosin market is segmented on the basis of application. Based on the application, the market is segmented into cardiovascular disease, neurological syndromes, prostate disorders, and kidney disorders. The CVD segment accounted for the significant share in the North American prazosin market. CVDs claim to take more lives each year than all forms of cancer and chronic lower respiratory diseases altogether. Thus, Prazosin is one of the treatments used for CVD mainly high BP and strokes. For instance, Minipress is specified for the treatment of hypertension, to control BP. Lowering blood pressure decreases the risk of fatal and nonfatal cardiovascular events, mainly strokes and myocardial infarction.   

The companies which are contributing to the growth of the North American prazosin market include  Apotex Inc., Teva Pharmaceuticals Industries Ltd., Cayman Chemical Co., Pfizer Inc., R&D Systems Inc., and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market. 

Research Methodology

The market study of the North American prazosin market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for prazosin market players, potential entrants, and pharmaceutical companies for the overall market and competitive analysis. The report provides an in-depth analysis on market size, products offered by the market players, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. North American prazosin Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the North American prazosin market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American prazosin market.
• Insights about market determinants which are stimulating the North American prazosin market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.