by Ticagrelor is an oral direct-acting P2Y12 receptor antagonist used to prevent thrombotic cardiovascular events in patients with acute coronary syndromes or prior myocardial infarction. The drug reversibly binds to the P2Y12 platelet receptor and inhibits adenosine diphosphate-induced platelet aggregation. Ticagrelor is often used in conjunction with low-dose aspirin and is commonly prescribed following a heart attack or placement of a coronary stent. It is commonly used with other antiplatelet drugs such as aspirin to reduce the chances of blood clots (thrombi) forming and causing another heart attack, unstable angina (chest pain), stroke or death in patients who have already experienced these conditions.
The global ticagrelor market is estimated to be valued at US$ 1285.83 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The expansion of the ticagrelor market is largely driven by the increasing prevalence of cardiovascular diseases across the globe. According to World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Increasing geriatric population base that is more prone to developing heart conditions is another major driver. Moreover, rising number of regulatory approvals for new indications is projected to provide significant opportunities in the coming years. For instance, in February 2022, ticagrelor received approval from the US FDA for reducing the risk of a first heart attack or stroke in high-risk patients with coronary or peripheral artery disease.
Segment Analysis
The ticagrelor market is segmented into indication, route of administration, distribution channel and end user. By indication, it is dominated by acute coronary syndrome segment which accounts for around 60% share. Ticagrelor is one of the preferred drugs for treating acute coronary syndrome like myocardial infarction due to its quicker action and effectiveness.
PEST Analysis
Political: The ticagrelor market is regulated by government bodies which approve new drugs and monitor supply and pricing. Favorable regulatory approvals boost market growth.
Economic: Rising disposable incomes and increasing healthcare spending in developing nations support market growth. However, price control policies can impact revenues.
Social: Growing geriatric population which is at high risk of cardiovascular diseases drives market demand. Increased awareness about treatment options also aids market growth.
Technological: Advancements in drug delivery systems and development of novel drugs with improved efficacy and safety benefit the market.
Key Takeaways
The global Ticagrelor Market Growth is expected to witness modest growth during the forecast period aided by increasing prevalence of cardiovascular diseases and growing adoption. The global ticagrelor market is estimated to be valued at US$ 1285.83 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.
Regionally, North America dominated the market in 2023 due to high healthcare spending and regulatory approvals. However, Asia Pacific is projected to witness fastest growth owing to rise in cardiac cases, growing medical tourism and increased investments by key market players in the region.
Key players operating in the ticagrelor market are ANDRITZ Group, Baltur S.p.A, Bloom Engineering, Wood Group PLC (Foster Wheeler AG), Honeywell International Inc. (Maxon), Limpsfield Combustion Engineering Ltd, Mitsubishi Hitachi Power Systems, Ltd (MHPS), Oilon Group, Osaka Gas Co., Ltd, Selas Heat Technology Company, R.W. Beckett Corp, SAACKE GmbH, Industrial Combustion IC, Wesman Group, Striko Westofen, Forbes Marshall Pvt. Ltd., QED Combustion, Alzeta Corporation, Alfa Therm Limited, Weishaupt, Enertech GmbH, Power Flame (Astec), EOGB Energy Products Ltd., Babcock Wanson, Riello S.p.A, Zeeco, Inc., Alfa Laval, Corbett Industries, Inc., Faber Burner Company, AGF Burner Inc., John Zink Hamworthy Combustion, Oxilon Private Limited, Wayne Combustion Systems, SECO/WARWICK, INC., Surface Combustion, Inc., Midco International, Inc., and ELCO GmbH. AstraZeneca dominates the market with its product Brilinta which contains ticagrelor as the active ingredient
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
