USD 28.50 Billion
Report ID:
SQMIG35B2093 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
61 |
Figures:
75
The Global Anticoagulants Market size size was valued at USD 28.50 Billion in 2022 and is poised to grow from USD 31.44 Billion in 2023 to USD 68.87 Billion by 2031, at a CAGR of 10.30% during the forecast period (2024-2031).
Global anticoagulants market has witnessed significant growth in recent years, driven by rising prevalence of chronic diseases and the adoption of unhealthy lifestyles that have contributed to the growing incidence of cardiovascular diseases. Consequently, there is a rising demand for anticoagulants in the market. According to the World Health Organization (WHO) and the Cureus Journal of Medical Science, cardiovascular diseases are a leading cause of death worldwide, with approximately 17.9 million deaths occurring annually, representing 35% of global deaths. Among these deaths, 85% are attributed to heart attacks and strokes. Ischemic heart disease (IHD) has emerged as a prominent contributor to global mortality. It affects around 126 million individuals worldwide, accounting for approximately 1.72% of the world's population. Moreover, projections indicate that the prevalence of IHD is expected to surpass 1,845 per 100,000 individuals by 2030. Anticoagulants help prevent blood clotting, reducing the risk of heart attacks, strokes, and other cardiovascular complications. In addition to conventional anticoagulant therapies, novel oral anticoagulants (NOACs) have gained prominence. These newer drugs offer advantages such as improved safety profiles, simplified dosing regimens, and fewer drug interactions compared to traditional anticoagulants like warfarin. The growing adoption of NOACs by healthcare professionals and patients has further fueled the growth of the global anticoagulants market.
US Anticoagulants Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 28.50 Billion
Largest Segment
Flour
Fastest Growth
Flour
Growth Rate
10.30% CAGR
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Global Anticoagulants Market is segmented by drug class, distribution channel, and region. Based on drug class, the market can be segmented into vitamin k antagonists (vkas), and direct oral anticoagulants (doacs). Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Anticoagulants Market Analysis by Drug class
By drug class, the market can be segmented into vitamin k antagonists (vkas), and direct oral anticoagulants (doacs). VKAs continue to hold a substantial market share due to their affordability and established efficacy. The segment is primarily driven by the demand from patients who have been using VKAs for a long time and have not switched to newer therapies. This includes patients with stable International Normalized Ratio (INR) control and those who are not suitable candidates for direct oral anticoagulants (DOACs).
The fastest-growing segment, DOACs, has witnessed remarkable expansion in market share as more clinical evidence supports their efficacy and safety profiles. Their improved convenience, reduced need for regular monitoring, and lower risk of bleeding complications have attracted a large patient population, particularly in the indications of atrial fibrillation (AF) and venous thromboembolism (VTE).
Anticoagulants Market Analysis by Distribution channel
By distribution channel, the market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Hospital Pharmacies dominated the distribution of anticoagulants. Anticoagulants are frequently administered and dispensed within hospital settings, where patients receive immediate medical care and monitoring. Hospital pharmacies have established relationships with healthcare professionals, ensuring a consistent supply of anticoagulants for inpatient use. The dominating position of hospital pharmacies is mainly due to the critical nature of anticoagulant therapy, often requiring timely initiation and adjustment based on the patient's condition.
Online Pharmacies segment is expected to grow at the fastest CAGR. The increasing popularity of e-commerce and digital platforms has facilitated the growth of online pharmacies, enabling patients to conveniently order and receive anticoagulants at their doorstep. Online pharmacies offer several benefits, such as ease of access, convenience, competitive pricing, and a wide range of product options.
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North America holds a significant share in the global anticoagulants market. The region's dominance can be attributed to several factors, including a high prevalence of cardiovascular diseases, a well-established healthcare infrastructure, and the presence of key market players. The United States, in particular, plays a crucial role in driving the growth of the anticoagulants market in North America, owing to its large population and advanced healthcare system.
The Asia-Pacific region is experiencing rapid growth in the anticoagulants market. Factors such as a growing geriatric population, changing lifestyles, and an increasing prevalence of cardiovascular diseases have led to a surge in demand for anticoagulant therapies in this region. Countries like China and India have witnessed a significant rise in cardiovascular disease cases, driving the market growth in APAC.
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Anticoagulants Market Drivers
Increasing prevalence of cardiovascular diseases
Anticoagulants Market Restraints
Potential risk of bleeding complications
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The global anticoagulants market is characterized by a diverse range of pharmaceutical companies and research institutions striving to develop innovative anticoagulant therapies. These players focus on research and development activities to introduce novel treatment options with improved efficacy and safety profiles. Collaborations and partnerships are also common strategies to enhance product portfolios and expand market reach. Additionally, regulatory approvals and clinical trials play a crucial role in shaping the competitive dynamics of the market, as they determine the commercial success of new anticoagulant drugs.
Anticoagulants Market Top Player’s Company Profiles
Anticoagulants Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global anticoagulants market analysis, the market is witnessing significant growth due to the high prevalence of cardiovascular diseases, particularly ischemic heart disease (IHD), worldwide. With millions of deaths annually attributed to cardiovascular diseases, there is a growing demand for effective anticoagulant therapies to prevent heart attacks and strokes. The market is driven by factors such as the increasing adoption of novel oral anticoagulants (NOACs), advancements in treatment options, and rising awareness about preventive healthcare measures. However, the market faces challenges related to the potential risk of bleeding complications and the high cost of medications. The competitive landscape involves key players engaged in research and development activities to introduce innovative anticoagulant therapies.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 28.50 Billion |
Market size value in 2031 | USD 68.87 Billion |
Growth Rate | 10.30% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Anticoagulants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Anticoagulants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Anticoagulants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Anticoagulants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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