by The global Anticoagulant Market is estimated to be valued at US$ 36830.47 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anticoagulants are substances that prevent or reduce coagulation of blood and prolong the clotting time. They are commonly used to treat and prevent heart attacks, strokes, deep vein thrombosis and pulmonary embolism. The main classes of anticoagulants include heparins, warfarin, direct oral anticoagulants (DOACs), and thrombolytic drugs. Heparin and warfarin have been conventionally used as anticoagulants but direct oral anticoagulants like apixaban, rivaroxaban etc are gaining popularity due to ease of use and limited dietary restrictions.
Market Dynamics:
The rising prevalence of cardiovascular diseases and venous thromboembolism across the world is expected to drive the anticoagulant market growth. As per World Health Organization, cardiovascular disease (CVD) accounts for over 17 million deaths each year which is estimated to grow to over 23.6 million by 2030. Again, venous thromboembolism which includes deep vein thrombosis and pulmonary embolism affects millions globally every year. Around 60% of deep vein thrombosis patients develop post-thrombotic syndrome leading to long-term disability, enhanced morbidity, and impaired quality of life.
Second major driver is the growing geriatric population. As age advances, risk of cardiovascular diseases and thrombotic events increases. People aged 60 and above are at significantly higher risk. This demographic shift with increasing elderly population base is poised to promote the demand for anticoagulants in the near future. According to UN Population Division, number of people aged 60 years or over is expected to more than double, from 962 million globally in 2017 to about 2.1 billion in 2050.
Segment Analysis
The anticoagulant market can be segmented by product type into warfarin, heparin & low-molecular-weight heparin (LMWH), direct thrombin inhibitors, and direct factor Xa inhibitors. The direct factor Xa inhibitors segment held the largest market share in 2022 owing to benefits such as twice-a-day dosing and fewer potential drug and food interactions compared to warfarin.
PEST Analysis
Political: Stringent regulations governing the approval of new anticoagulants and growing focus on quality standards are influencing the market.
Economic: Rising healthcare expenditure and increasing prevalence of blood clotting disorders are driving market growth.
Social: Increasing awareness about prophylaxis and treatment of various cardiovascular diseases is supporting market expansion.
Technological: Innovation in drug delivery systems and development of novel oral anticoagulants is boosting the market.
Key Takeaways
The global Anticoagulant Market Share is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to increasing prevalence of cardiovascular diseases and rising focus on effective treatment of diabetes and obesity.
Regional analysis indicated that North America held the largest share of the anticoagulant market in 2023. Factors such as the rising prevalence of diabetes and cardiovascular diseases have contributed to its large share.
Key players operating in the anticoagulant market are Pfizer Inc., Sanofi SA, Aspen Holdings, Abbott Laboratories, Leo Pharma AS, Alexion Pharmaceuticals Inc., Bayer AG, Johnson & Johnson, Bristol-Myers Squibb Company, Daiichi Sankyo Company, and Boehringer Ingelheim Pharmaceuticals Inc., among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
