July 20, 2024
Anticoagulant Market

The Expanding Use Of Targeted Anticoagulants Is Anticipated To Open Up The New Avenue For Anticoagulant Market

Market Overview:

The anticoagulant market comprises drugs that prevents blood clots internally. The main applications of these drugs are to treat venous thrombosis, pulmonary embolism, atrial fibrillation and flutter, deep vein thrombosis, and arterial thromboembolism. The commonly used anticoagulants are heparins, warfarin, direct thrombin inhibitors, and direct factor Xa inhibitors. Heparin administers parenterally whereas warfarin and other new oral anticoagulants (NOACs) are prescribed orally. NOACs hold major market share due to their easy dosing and reduced need for monitoring.

Market Dynamics:

The growth of the global anticoagulant market is primarily driven by rising cases of cardiovascular diseases and increasing adoption of targeted drug therapies. As per World Health Organization (WHO) data, cardiovascular diseases accounted for over 17.9 million deaths globally in 2019, making it the leading cause of death worldwide. The prevalent risk factors associated with cardiovascular diseases include diabetes, tobacco use, unhealthy diet and physical inactivity.
Moreover, increasing focus of market players on development of novel targeted anticoagulants with improved safety profiles is also fueling the market growth. For instance, in 2021, Phase 3 clinical trials data showed Boehringer Ingelheim’s oral Factor XIa inhibitor, bisantrene, met its primary efficacy. And safety endpoints for patients undergoing hip or knee replacement surgery. The NOAC offers potential advantages over current standard-of-care anticoagulants.

The global Anticoagulant Market Size is estimated to be valued at US$ 36,830.47 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.

Segment Analysis:

The global anticoagulant market is segmented into novel oral anticoagulants (NOACs) and vitamin K antagonists (VKAs). The NOACs segment dominates the market and is expected to continue its dominance over the forecast period. NOACs have relatively better efficacy, safety and convenience profiles as compared to VKAs. They do not require regular monitoring through blood tests and have lesser food and drug interactions. This ease of use without regular monitoring has made NOACs more preferred over VKAs in recent years.

PEST Analysis:

Political: The rising healthcare expenditure especially in developing regions will drive the market growth. Governments are increasingly supporting health insurance programs that cover anticoagulants which is fueling market growth.
Economic: The growth in aged population suffering from chronic diseases and rising healthcare costs will support market growth. However, patent expiries of blockbuster drugs may hamper market growth to some extent.
Social: Growing awareness about treatment and management of cardiovascular diseases and thromboembolic disorders is supporting the adoption of anticoagulants.
Technological: Continuous research focusing on development of NOACs with improved safety profiles. And long duration of action is helping expand clinical applications and driving the growth of anticoagulant market.

Key Takeaways:

The global anticoagulant market is expected to witness high growth, exhibiting CAGR of 9.4% over the forecast period. Due to increasing prevalence of cardiovascular disorders, rising geriatric population and growing number of surgical procedures worldwide.

Regionally, North America is dominating the global anticoagulant market during the forecast period. This attributes to developed healthcare systems, high healthcare spending and increasing rate of key therapeutic area incidences in the region.

Key players operating in the anticoagulant market are Pfizer Inc., Sanofi SA, Dr. Reddyâ€TMs Laboratories, Aspen Holdings, Abbott Laboratories, Leo Pharma AS, Alexion Pharmaceuticals Inc. Also Bayer AG, Johnson & Johnson, Bristol-Myers Squibb Company, Daiichi Sankyo Company, and Boehringer Ingelheim Pharmaceuticals Inc., among others. Key players are focusing on new product launches, collaborations and geographic expansions to garner higher market share.

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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it