NEW YORK, April 24, 2024 /PRNewswire/ — The global anticoagulants market size is estimated to grow by USD 18.09 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of over 8.42% during the forecast period.
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Key Trends Fueling Growth:
- Increasing focus on emerging economies:
- 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.
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Major Challenge
- Strong side effects of anticoagulants:
- 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.
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Analyst Review
The Anticoagulants Market encompasses a range of drugs used to prevent the coagulation of blood and reduce the risk of blood clot formation in individuals with chronic disorders such as Deep Vein Thrombosis, Atrial Fibrillation, and Cardiovascular Diseases. Novel Oral Anticoagulants and injectable anticoagulants are the two primary drug categories, with the former gaining significant product penetration due to their convenience and ease of administration via the oral route.
Genetic testing plays a crucial role in identifying patients who may benefit from anticoagulant therapy, particularly those at risk for Venous Thromboembolism, Pulmonary Embolism, and Myocardial Infarction. The geriatric population and those with a prevalence of obesity are key demographics for the anticoagulants market, as they are at higher risk for cardiovascular disorders and blood clotting complications. The coagulation pathway is the primary target for anticoagulant drugs, which function by inhibiting specific coagulation factors or extending clotting time.
Market Overview
The Anticoagulants Market encompasses a range of drugs used for preventing and treating abnormal blood clotting. These therapies, including Direct Oral Anticoagulants (DOACs) and Vitamin K Antagonists (VKAs), are essential in managing various cardiovascular conditions, such as deep vein thrombosis, pulmonary embolism, and atrial fibrillation. Cardiovascular diseases are a leading cause of mortality worldwide, making the Anticoagulants Market a significant player in healthcare.
The market is driven by factors like an aging population, rising prevalence of cardiovascular diseases, and increasing awareness and adoption of anticoagulant therapies. Additionally, technological advancements in anticoagulant drugs, such as novel oral anticoagulants, contribute to market growth.
However, challenges like drug interactions, bleeding risks, and high costs remain concerns for market stakeholders. The market is expected to witness robust growth in the coming years, with key players focusing on innovation, expanding their product portfolios, and enhancing patient safety.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Route Of Administration
- Oral Anticoagulants
- Injectable Anticoagulants
- Type
- Factor Xa Inhibitors
- DTIs
- Heparin
- Vitamin K Antagonists
- Geography
- North America
- Europe
- Asia
- Rest Of World (ROW)
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
