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 the group of medicines that helps to prevent or reduces the formation of blood clots. It acts on building up of fibrin in the blood vessels and arteries, thereby preventing the formation of clots. Different types of anticoagulants are available in oral formulations as tablets, capsules or injectables, which are primarily used for treating and preventing conditions like deep vein thrombosis, pulmonary embolism, atrial fibrillation and others.
Market key trends:
One of the key trends in the anticoagulant market is the rising demand for long-acting oral anticoagulants. These novel oral anticoagulants do not require frequent monitoring and have predictable pharmacokinetics with minimal food and drug interactions. For instance, Eliquis (apixaban), Xarelto (rivaroxaban), Bevyxxa (betrixaban) and Savaysa (edoxaban) are some of the widely used long-acting oral anticoagulants. These are convenient to use as patients do not have to adhere to a strict dosing schedule or undergo frequent monitoring of international normalized ratio (INR). Hence, growing preference for long-acting anticoagulants is expected to drive the market growth over the forecast period.
SWOT Analysis
Strength: Anticoagulant drugs have a well-established history of efficacy and safety in reducing the risk of stroke and systemic embolism. They are preferred over other therapies owing to their easy administration and low risk of side effects.
Weakness: The use of anticoagulant therapy requires continuous monitoring due to the risk of bleeding. Missed doses can lead to thrombotic events while incorrect dosing may cause bleeding complications.
Opportunity: The aging population worldwide has increased the incidence of atrial fibrillation and other cardiac conditions requiring anticoagulation therapy. Growing awareness about prevention and treatment of cardiac disorders also presents an opportunity.
Threats: Entry of generic drugs and biosimilars pose pricing pressure on established anticoagulant brands. Stringent regulations for approval of new anticoagulant drugs also act as a barrier.
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 the increasing prevalence of cardiovascular diseases and the growing geriatric population worldwide.
Regional analysis
North America dominated the anticoagulant market in 2023 owing to high diagnosis and treatment rates in the region. Asia Pacific is poised to grow at fastest rate during the forecast period 2023-2030 due to rising healthcare expenditures and large patient pool in China and India.
Key players
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
