Coherent Market Insights

Anticoagulant Market to Surpass US$ 57,337.5 Mn by 2028

Anticoagulant Market to Surpass US$ 57,337.5 Mn by 2028 - Coherent Market Insights

Publish In: Jan 16, 2023

Anticoagulants, also known as blood thinners, are used to prevent or reduce coagulation of blood, prolonging the clotting time. These blood thinning medications help treats blood clots, and prevent blood clot formation in the veins and arteries. Direct oral anticoagulants (DOACs) are often used to prevent and treat cardiovascular disease. They are given to people at high risk of getting clots, to reduce the chance of developing serious conditions such as stroke and heart attack. Thus, there is an increase in demand for anticoagulants worldwide.

Market Statistics:

The global Anticoagulant Market is estimated to account for US$ 33,514.6 Mn in terms of value by the end of 2022.

Drivers:

Increase in demand for anticoagulants or increase in adoption of anticoagulants across the world is expected to propel the growth of the global anticoagulant market. For instance, with the increase in disease burden, the demand for anticoagulants is also increasing rapidly, as they help prevent blood clots. In June 2022, Teva UK launched a generic version of apixaban, an oral anticoagulant that directly inhibits factor X, thus restricting thrombin formation and the development of blood clots. It will be made available as a preventative treatment for stroke and systemic embolism in adults with non-valvular atrial fibrillation (NVAF), with one or more risk factors.

Opportunities:

Growing prevalence of chronic disease worldwide is expected to offer significant opportunities for players in the global anticoagulant market. For instance, direct oral anticoagulants (DOACs) are used for the prevention and treatment of several cardiovascular disease (CVDs). DOACs, such as rivaroxaban (Xarelto), apixaban (Eliquis), dabigatran (Pradaxa), edoxaban (Savaysa), betrixaban (Bevyxxa), and more are anticoagulation pharmacotherapy used for the prevention of thrombosis in cardiovascular contexts. According to the World Health Organization (WHO), CVDs are the leading cause of death globally, taking an estimated 17.9 million lives each year.

Restraints:

Stringent government regulations and side effects associated with anticoagulant are major factors expected to hamper the growth of the global anticoagulant market. For instance, anticoagulants can cause side effects that may lead to more serious complications. The use of oral anticoagulants is being monitored for adverse drug events. The United States Food Drug Administration (FDA) uses standard surveillance definitions for anticoagulant-related bleeding events in post-marketing and epidemiologic analyses, to access the accuracy of diagnostic and procedural coding to capture anticoagulant-related bleeding events.

Global Anticoagulant Market - Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 has had a substantial impact on the anticoagulant market. According to World Health Organization (WHO), January 2021 update, people with COVID-19, confirmed & suspected, should have access to follow-up care with low-dose anticoagulants. Anticoagulation in moderate to severe as well as critical cases of COVID-19 is advisable. Therefore, the demand for anticoagulants increased during the pandemic. Furthermore, in March 2021, The U.S. National Institutes of Health (NIH) initiated the Phase III clinical trials of blood thinners (anticoagulant) to prevent life-threatening blood clots in people with COVID-19. In short, the pandemic has had a positive impact on the global anticoagulant market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/anticoagulant-market-5486

Key Takeaways:

The global anticoagulant market was valued at US$ 30,773.2 Mn in 2021 and is forecast to reach a value of US$ 57,337.5 Mn by 2028 at a CAGR of 9.4% between 2022 and 2028.

Among drug class, novel oral anticoagulants (NOACs) segment held dominant position in the global anticoagulant market in 2021, accounting for 70.2% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

The development and introduction of novel anticoagulants represent a huge advancement in the field of anticoagulation. Moreover, the adoption of novel oral anticoagulants (NOAC) is increasing or has increased in developing countries, and is anticipated to show a similar trend over the forecast period owing to the high preference of NOAC over the warfarin. This in turn is expected to increase the demand for anticoagulants across the world.

Competitive Landscape:

Major players operating in the global anticoagulant market include Pfizer Inc., Sanofi SA, Dr. Reddy’s Laboratories, Abbott Laboratories, Leo Pharma AS, Alexion Pharmaceuticals Inc., Bayer AG, Johnson and Johnson, Bristol-Myers Squibb Company, Daiichi Sankyo Company, Aspen Holdings, and Boehringer Ingelheim Pharmaceuticals Inc., among others.

Recent Developments:

In August 2019, Bayer and Johnson & Johnson’s Xarelto (rivaroxaban) announced results of the phase 3 EINSTEIN-Jr study, which showed Xarelta was both safe and effective in children with thromboembolism.

In April 2019, B. Braun announced the launch of Heparin Sodium Prefilled Syringe, the first FDA-approved anticoagulant, with attached safety needle.

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