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The Global Anticoagulants Market size is estimated to grow at a CAGR of 8.42% between 2022 and 2027. The market size is forecast to increase by USD 18,091.94 million. The growth of the market depends on several factors, including the introduction of novel oral anticoagulants, the growing prevalence of coagulation disorders, and the increase in hip and knee surgeries.
This anticoagulants market report extensively covers market segmentation by route of administration (oral anticoagulants and injectable anticoagulants), type (Factor Xa inhibitors, DTIs, Heparin, and Vitamin K antagonists), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increase in hip and knee surgeries is notably driving the market growth, although factors such as strong side effects of anticoagulants may hinder the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increase in hip and knee surgeries is notably driving the global anticoagulants market growth. Hip and knee replacement surgeries often result in long periods of immobility, increasing the chances of developing DVT due to reduced blood flow. It is reported that more than 1 million Americans undergo joint replacement surgery each year. People who have had knee and hip replacement surgery are more likely to develop DVT.
Joint replacement surgery and cardiovascular disease are frequently observed in the elderly population. As the number of surgical procedures increases, the likelihood of postoperative thromboembolism increases, necessitating treatment with anticoagulants. Therefore, an increase in hip and knee surgeries is expected to boost the growth of the global anticoagulants market during the forecast period.
Increasing focus on emerging economies is the primary trend in the global anticoagulants market. Vendors are increasingly turning their attention to untapped markets such as the Middle East, Africa, India, and China. Large geriatric population bases in emerging markets such as China, Mexico, and India are showing significant growth in the healthcare sector, opening up opportunities for pharmaceutical companies to expand their operations in regions such as North America and Asia.
Additionally, the regulatory environment in many emerging markets is becoming more favorable for pharmaceutical companies, resulting in easier market entry and a faster approval process for new drugs. This has made it easier for companies to bring new anticoagulants to market and increase sales. Hence, increasing focus on emerging markets will drive the growth of the global anticoagulants market during the forecast period.
Strong side effects of anticoagulants are a major challenge to the growth of the global anticoagulants market. Blood clotting is the body's natural mechanism to stop excessive bleeding. Anticoagulants reduce the ability of blood to form clots, slowing the blood clotting process. This causes uncontrolled blood flow, even in small cuts. Long-term use of anticoagulants is associated with increased cardiovascular risks such as stroke and heart attack. Excessive bleeding from various heparin and warfarin uses can lead to a significant drop in platelet count.
Other side effects associated with anticoagulant use include severe bruising, persistent nosebleeds, and vomiting. Anticoagulant use is also associated with severe back pain, chest pain, dizziness, headache, and jaundice. Due to the strong side effects, the market is declining the use of these drugs. Thus, the increasing awareness of the side effects of anticoagulants is expected to hamper the growth of the global anticoagulants market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Anticoagulants Market Customer Landscape
The market share growth by the oral anticoagulants segment will be significant during the forecast period. Oral anticoagulants are used to treat a wide range of clotting disorders but are primarily used to treat atrial fibrillation and DVT/PE.
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The oral anticoagulants segment was valued at USD 19,827.74 million in 2017 and continued to grow until 2021. Oral anticoagulants can be categorized into two types, namely conventional oral anticoagulants, and NOACs. Conventional oral anticoagulants such as warfarin (COUMADIN) and generic warfarin have been on the market for 50 years. These drugs are vitamin K antagonists and prevent vitamin K activation. It is used for various indications, including cardiomyopathy and artery transplantation.NOACs are indicated for DVT and non-valvular atrial fibrillation. There are currently four approved NOAKs on the market: XARELTO, ELIQUIS, SAVAYSA, and PRADAXA. These drugs have shown better results in terms of safety and efficacy when compared to traditional means.
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North America is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The anticoagulants market in North America has experienced significant growth in recent years due to the increasing prevalence of DVT and pulmonary embolisms in the region. The US has one of the highest prevalence of thrombosis in the world. The country accounts for approximately 22.98% of the global market revenue. According to the Centers for Disease Control and Prevention (CDC), the incidence of DVT and pulmonary embolism has increased significantly, with approximately 900,000 new cases occurring annually in the United States. Factors such as increasing awareness of the seriousness of the disease and the advanced healthcare system in the US are playing an important role in the growth of the anticoagulants market in North America. Increasing government support in the form of patient assistance programs has also contributed to the market growth in the region.
The North American market is growing at a remarkable pace with the introduction of NOAK. Warfarin showed strong growth compared to oral anticoagulants. However, generic drugs are available for him 15 to 20 times cheaper than NOAK, so the revenue from selling warfarin is marginal. Despite side effects such as excessive bleeding, the increased benefits of anticoagulants outweigh any such possible negatives. As such, many vendors are developing reverse agents and plan to launch some of them during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the COVID-19 outbreak had a positive impact on the regional anticoagulants market. The outbreak forced governments of various countries, such as the United States, Canada, and Mexico, to impose strict lockdown restrictions. Moreover, the high prevalence of cardiovascular disease has increased the demand for anticoagulants in this region. The market is expanding due to technological developments such as the development of new anticoagulants and the acquisition of approval. For example, in June 2021, Boehringer Ingelheim's oral anticoagulant pellets dabigatran etexilate (Pradaxa) became the first oral drug used for the treatment of venous thromboembolism in children aged three months to under 12 years of age. It was approved by the US FDA as an anticoagulant. Moreover, the increasing number of cardiovascular disease-related cases in the US and other countries is expected to spur the growth of the regional anticoagulants market during the forecast period.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories: The company offers anticoagulants such as ACITROM which functions as vitamin K antagonist.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The anticoagulants market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Anticoagulants Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.42% |
Market growth 2023-2027 |
USD 18,091.94 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.44 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 51% |
Key countries |
US, Canada, Germany, UK, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Amphastar Pharmaceuticals Inc., Aspen Pharmacare Holdings Ltd, AstraZeneca PLC, Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb Co., Daiichi Sankyo Co. Ltd., Dr Reddys Laboratories Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Laboratorios Farmaceuticos ROVI S A, LEO Pharma AS, Novartis AG, Pfizer Inc., Sanofi SA, Shenzhen Hepalink Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., and United Therapeutics Corp. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Route of Administration
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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