The ticagrelor market is estimated to witness high growth owing to increasing product launches.
The ticagrelor Market is estimated to be valued at US$ 2,109.0 Mn in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ticagrelor is an oral, reversible P2Y12 platelet inhibitor that is used to prevent heart attacks and strokes in patients with acute coronary syndrome or a history of myocardial infarction. It works by inhibiting platelet activation and aggregation, which helps to prevent harmful clots from forming or growing larger. Ticagrelor provides advantages like rapid onset of action within 30 minutes, predictable pharmacokinetics and pharmacodynamics, and a safer alternative to clopidogrel.
Market key trends:
The ticagrelor market is witnessing high growth owing to increasing product launches catering to a wider patient base. For instance, in 2019, AstraZeneca received FDA approval for its generic ticagrelor tablets in the strengths of 60 mg and 90 mg. This low-cost alternative expanded treatment access for more patients. Furthermore, ongoing clinical trials are assessing ticagrelor’s potential in new indications such as peripheral artery disease and venous thromboembolism. In 2020, a Phase 3 trial investigated ticagrelor versus placebo for reducing the risk of major cardiovascular events in patients with peripheral artery disease. Positive results from such studies can augment the drug’s adoption across different therapeutic areas. Rising chronic diseases and the need for improved anticoagulation medications are also fueling market revenues.
Market Dynamics:
The Ticagrelor Market Demand is estimated to be valued at US$ 2,550.12 Mn in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Growing patient population suffering from cardiovascular diseases and increasing usage rates of ticagrelor in treatment are the major factors estimated to drive the global ticagrelor market growth over the forecast period. According to the World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Moreover, as per the Centers for Disease Control and Prevention, about 655,000 Americans die from heart disease each year—that’s 1 in every 4 deaths. The increasing prevalence of cardiovascular diseases has resulted in rising demand for efficacious drugs such as ticagrelor for their prevention and treatment. Ticagrelor has proven its potential in reducing mortality and morbidity risk in patients, leading to more physicians preferring it over other platelet inhibitors. Additionally, increasing healthcare spending over the years is expected to improve the accessibility of novel drugs like ticagrelor, thereby propelling the market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
