by The ticagrelor market caters to the growing requirement for platelet aggregation inhibitors worldwide. Ticagrelor is an oral platelet aggregation inhibitor that helps in reducing myocardial infarction and heart-related deaths. It works by reversibly binding to the platelet P2Y12 ADP receptor and inhibiting adenosine diphosphate-induced platelet activation and aggregation. Ticagrelor Market is used in patients with acute coronary syndrome or a history of myocardial infarction.
The global ticagrelor market is estimated to be valued at US$ 1481.28 Mn in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Ticagrelor Market Demand are tlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. Key players are investing heavily in R&D activities to develop novel therapies and gain a competitive advantage.
The global demand for ticagrelor market is increasing owing to the rising prevalence of cardiovascular diseases and growing awareness regarding the benefits of antiplatelet drugs. According to the World Health Organization, cardiovascular diseases cause over 17.9 million deaths per year.
Major pharma companies are exploring Ticagrelor Market opportunities in emerging economies to benefit from the increasing healthcare expenditure. Companies are focusing on strengthening their distribution channels and adapting new strategies to capture the high growth potential markets of Asia Pacific and Latin America.
Market key trends
Collaborations and partnerships between pharmaceutical companies and research institutions are expected to boost ticagrelor market drug development. In 2021, AstraZeneca collaborated with the British Heart Foundation Centre of Research Excellence to advance cardiovascular research. Companies are also focusing on developing fixed-dose combinations and novel drug delivery methods to improve patient compliance.
Generic versions of ticagrelor will further drive the market growth during the forecast period. In 2020, Alkem Laboratories Ltd received approval from the USFDA to market Ticagrelor tablets, which is a cheaper alternative to branded ticagrelor. Increased penetration of generics is positively impacting the overall ticagrelor market reach.
Porter’s Analysis
Threat of new entrants: New players need high initial investments for R&D, clinical trials, and manufacturing plants which creates entry barriers.
Bargaining power of buyers: Large pharmaceutical companies have significant influence over suppliers and put pressure on price.
Bargaining power of suppliers: Suppliers have specialized ingredients and production processes which gives them some power in negotiations.
Threat of new substitutes: Alternate antiplatelet drugs like clopidogrel pose competition but ticagrelor differentiates itself through superior clinical efficacy.
Competitive rivalry: Major players like AstraZeneca, Pfizer, and generic manufacturers fiercely compete on launch of innovative formulations and price undercutting.
Geographical Regions
North America dominates the ticagrelor market accounting for over 40% value share majorly due to high incidence of atherothrombotic diseases and greater adoption of ticagrelor as first-line treatment compared to clopidogrel.
Asia Pacific registers fastest growth led by expanding patient pool, rising healthcare spending, increasing awareness about antiplatelet therapy, and presence of leading generic manufacturers in India and China. Growing medical tourism further supplements regional market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
