by The global Anticoagulant market is estimated to be valued at US$ 30,773.2 Mn in 2021 and is expected to exhibit a CAGR of 9.4% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Anticoagulants are used to prevent the formation of blood clots and are widely prescribed for the treatment of cardiovascular diseases such as deep vein thrombosis, atrial fibrillation, and pulmonary embolism. These drugs help in reducing the risk of strokes and heart attacks by thinning the blood. Key products in the Anticoagulant market include warfarin, heparin, dabigatran, rivaroxaban, apixaban, and edoxaban.
B) Market Dynamics:
The Anticoagulant market is driven by two main factors: increasing prevalence of cardiovascular diseases and a rising geriatric population. Cardiovascular diseases are the leading cause of death globally, and their prevalence is expected to increase in the coming years. This is creating a high demand for anticoagulant drugs to prevent and treat these conditions. Additionally, the geriatric population is more prone to developing cardiovascular diseases and requires long-term anticoagulant therapy, further driving market growth.
C) Segment Analysis:
The Anticoagulant Market Share can be segmented by drug class, indication, route of administration, and distribution channel. By drug class, the market is dominated by the direct oral anticoagulants (DOACs) segment, which includes drugs such as dabigatran, rivaroxaban, apixaban, and edoxaban. DOACs offer advantages over traditional anticoagulants such as warfarin, including fewer drug interactions, no need for regular monitoring, and lower risk of bleeding complications.
D) PEST Analysis:
Political factors: Government regulations and policies regarding drug approvals and pricing can impact the Anticoagulant market.
Economic factors: Economic conditions and healthcare expenditure play a significant role in the market growth of Anticoagulants.
Social factors: Increasing awareness about cardiovascular diseases and the importance of anticoagulant therapy among the general population.
Technological factors: Advancements in drug delivery systems and innovative anticoagulant therapies are driving the market.
E) Key Takeaways:
The global Anticoagulant market is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to increasing prevalence of cardiovascular diseases and a rising geriatric population. The market is dominated by direct oral anticoagulants (DOACs), which offer advantages over traditional anticoagulants. Regionally, North America is the fastest-growing and dominating region in the market, followed by Europe and Asia Pacific. Key players operating in the global Anticoagulant market include Pfizer Inc., Sanofi SA, Dr. Reddy’s Laboratories, 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.
In conclusion, the global Anticoagulant market is expected to witness significant growth in the coming years, driven by the increasing prevalence of cardiovascular diseases and a growing geriatric population. The market is dominated by direct oral anticoagulants, which offer advantages in terms of convenience and safety. With advancements in technology and increasing awareness, the market is poised for further expansion.
