THROMBIN INHIBITOR MARKET ANALYSIS

The global thrombin inhibitor market is estimated to be valued at US$ 30.75 billion in 2023 and is expected to reach US$ 46.85 billion by 2030, growing at a CAGR of 6.2% during the forecast period of 2023-2030. The growth is attributed to the increasing prevalence of thrombosis-related disorders, such as deep vein thrombosis (DVT) and pulmonary embolism (PE), and the rising demand for anticoagulant therapies for the prevention and treatment of the same. However, market trends and forecasts are subject to change based on various factors such as economic, political, and environmental conditions, and should be interpreted with caution.

Thrombin Inhibitor Market Regional Insights

• North America is expected to hold 35.0% market share during the forecast period due to the presence of a large patient population suffering from thrombosis-related disorders, the high healthcare expenditure, and the availability of advanced healthcare infrastructure in the region.
• Europe is expected to hold 24.4% market share due to the increasing prevalence of thrombosis-related disorders and the rising adoption of anticoagulant therapies for the same in the region.
• The Asia Pacific region is expected to witness 8.2% growth rate during the forecast period due to the increasing incidence of thrombosis-related disorders, the rising healthcare expenditure, and the growing focus on the development of advanced anticoagulant therapies in the region.

Figure 1. Global Thrombin Inhibitor Market Share (%), by Region, 2023

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Analysts’ Views on Global Thrombin Inhibitor Market:

• Thrombin inhibitors are a type of anticoagulant that work by preventing blood clots. They are used to treat and prevent blood clots in conditions like deep vein thrombosis (DVT), pulmonary embolism (PE), and atrial fibrillation (AF). The global thrombin inhibitor market is expected to witness significant growth in the coming years. This growth is primarily driven by the increasing prevalence of coagulation disorders and the growing geriatric population who are more prone to these conditions.

Thrombin Inhibitor Market Drivers:

1. Increasing prevalence of thrombosis-related disorders: Thrombosis-related disorders, such as deep vein thrombosis (DVT) and pulmonary embolism (PE), are a significant public health problem globally, with a high incidence in the elderly population. The increasing prevalence of these disorders is driving the demand for anticoagulant therapies, thus boosting the growth of the Thrombin Inhibitor Market. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC) in June 28, 2023, 900,000 people are affected by deep vein thrombosis (DVT) or pulmonary embolism (PE) globally. Moreover, 33% among people who have had a DVT, one third to one half will have long-term complications such as swelling, pain, discoloration, and scaling in the affected limb.
2. Growing awareness programs about thrombosis-related disorders: The growing awareness programs about thrombosis-related disorders among healthcare providers and the general public is expected to drive the market growth over the forecast period. For instance, the International Society on Thrombosis and Hemostasis (ISTH) on October 23, 2023 created the world thrombosis day campaign to bring awareness against the deadly disease.

Thrombin Inhibitor Market Opportunities:

1. Increasing Product Launches by the Market Players: The market players are focusing on launching new products in the market to increase their market share, which is expected to propel the market growth over the forecast period. For instance, on July 18, 2023, Endo International plc, a pharmaceutical company, executed agreements with MAIA Pharmaceuticals, Inc., a pharmaceutical company and Gland Pharma Limited, a pharmaceutical company based in India to commercialize ready-to-use bivalirudin in the U.S. The product, manufactured by Gland Pharma Limited, is an anticoagulant (thrombin inhibitor) that helps prevent the formation of blood clots.
2. Development of new anticoagulant therapies: The development of new anticoagulant therapies with improved efficacy and safety profiles presents an opportunity for market players to capture a larger market share and meet the unmet medical needs of patients. For instance, on June 1, 2023, Sirnaomics Ltd., a biotechnology company, announced that it had dosed the first participant in a phase 1 clinical trial of STP122G for anticoagulation treatment.

Thrombin Inhibitor Market Trends:

1. Increasing R&D Research for the Development of Novel Treatment: The market players are investing in the research and development for the development of thrombin inhibitor, which is expected to propel the market growth over the forecast period. For instance, on August 23, 2022, Merck, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had granted Fast Track Designation for Merck’s investigational anticoagulant therapy MK-2060 for the reduction in risk of major thrombotic cardiovascular events in patients with end-stage renal disease (ESRD).
2. Growing focus on personalized medicine: The growing focus on personalized medicine is driving the development of targeted anticoagulant therapies for specific patient populations, such as those with renal impairment or cancer. Market players are responding to this trend by investing in research and development to develop personalized anticoagulant therapies, which is likely to drive the growth of the thrombin inhibitor market.

Thrombin Inhibitor Market Restraints:

1. Increasing Product Recalls: Increasing product recalls by the market players due to adverse effects is expected to hinder the market growth over the forecast period. For instance, on March 23, 2023, Ascend Laboratories, a pharmaceutical company, issued a voluntary recall of 10 lots of the anticoagulants dabigatran etcxilate in capsule form after finding higher than acceptable levels of the suspected carcinogen N-nitroso-dabigatran during routine testing.
2. Stringent regulatory requirements: The regulatory requirements for the approval of anticoagulant therapies can be stringent and time-consuming, which can hinder the introduction of new products and limit the growth of the thrombin inhibitor market.

Recent Developments

New product launches

1. In August 2023, Fresenius Kabi Canada Ltd., a pharmaceutical company, launched anticoagulant sodium citrate 4% solution, USP, 250ml in Canada
2. In December 2020, Nato Pharma, a pharmaceutical company based in India, launched the Rivaroxaban molecule under the brand name RPIGAT, an anticogulant

Acquisition and partnerships

1. In July 2020, Alexion Pharmaceuticals, Inc., a pharmaceutical company, announced the completion of its acquisition of Portola Pharmaceuticals, Inc. The acquisition adds Factor Xa inhibitor reversal agent Andexxa [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya in Europe, to Alexion’s commercial portfolio.

Figure 2. Global Thrombin Inhibitor Market Share (%), by Application, 2023

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Top Companies in Thrombin Inhibitor Market

• Pfizer Inc.
• Bristol Myers Squibb
• Bayer AG
• Sanofi S.A.
• Boehringer Ingelheim GmbH
• Johnson & Johnson
• Daiichi Sankyo Company, Limited
• CSL Behring
• Portola Pharmaceuticals, Inc.
• AbbVie Inc.
• GlaxoSmithKline plc
• Novartis International AG
• Merck & Co., Inc.
• Aspen Pharmacare Holdings Limited
• Eisai Co., Ltd.

*Definition: The thrombin inhibitor market refers to the commercial market for pharmaceutical drugs or agents that inhibit the activity of thrombin, a key enzyme involved in blood clotting. Thrombin inhibitors are used in the treatment and prevention of various cardiovascular conditions, such as deep vein thrombosis, atrial fibrillation, and pulmonary embolism. These inhibitors work by preventing the formation of blood clots or by dissolving existing clots. The market includes the development, manufacturing, and sale of thrombin inhibitor drugs by pharmaceutical companies, as well as the associated medical devices and technologies used in their administration.