Selbyville, Delaware, March 08, 2021 (GLOBE NEWSWIRE) --
According to latest report “Anticoagulants Market by Drug Class (Factor Xa Inhibitors, Heparin, Warfarin, Direct Thrombin Inhibitors), Route of Administration (Oral, Injectables), Application (Venous Thromboembolism, Atrial Fibrillation/Flutter, Coronary Artery Disease), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of anticoagulants will cross $51.9 billion by 2027.
High demand for anticoagulant products for atrial fibrillation/flutter and coronary artery disease is a major impact rendering factor responsible for the market growth. According to Center for Disease Control and Prevention (CDC), coronary events affected around 1 million individuals in the U.S., accounting for 0.7 million new and 0.3 million recurrent coronary events in 2019. Thus, rising prevalence of disease will increase the adoption of anticoagulant products, thereby augmenting the market expansion. Furthermore, several organizations such as the CDC and National Institutes of Health (NIH) are undertaking initiatives regarding awareness levels through various programs. This will in turn increase the product demand and is expected to foster the market value.
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The heparin segment in the anticoagulants market accounted for USD 3.8 billion in 2020. Low molecular weight heparin offers advantages such as low incidence of heparin-induced thrombocytopenia and resistance to inhibit activated platelets. Thus, such advantages associated with heparin will fuel the segment growth. Additionally, better bioavailability, longer half-life and lower risk of osteoporosis are few other factors driving the segment expansion.
The injectable anticoagulants segment dominated more than 57.2% of the anticoagulants market share in 2020. The injectable anticoagulants such as low molecular weight heparin and other related drugs that are used in both prevention and treatment of clots will boost segment revenue. Moreover, the injectable anticoagulants last for longer time and are absorbed better from the subcutaneous injection. Also, dalteparin is the only injectable anticoagulant approved for the extended treatment of VTE in patients with cancer. Thus, availability of injectable anticoagulants for treatment of various conditions will propel the industry growth.
The anticoagulants market for venous thromboembolism application exceeded accounted for USD 1.9 billion in 2020 led by increasing prevalence of venous thromboembolism. According to the International Society on Thrombosis and Haemostasis (ISTH) report, nearly 10 million cases of venous thromboembolism (VTE) are recorded every year across the globe. The report also stated that, around 544,000 VTE related deaths are observed every year in Europe. Thus, rising prevalence of VTE will increase the product demand, thereby influencing the market revenue.
Online pharmacy held for 13.5% of the anticoagulants market share in 2020. Online pharmacy offers benefits such as availability of wide range of products, doorstep delivery and substantial discounts. This will attract more consumers and drive the segment value. Increasing popularity of online shopping among millennials and elderly in emerging countries will further enhance the segment demand.
Asia Pacific anticoagulants market is predicted to witness 7.9% growth rate till 2027 driven by presence of large patient pool in highly populous countries such as China and India. According to the Asia Pacific Thrombosis Advisory Board report, in 2019, cardiovascular disease was considered as one of the most common disorder in Asian population. The report further stated that, the incidence rate of coronary heart disease and myocardial infarction were approximately 150 per 100,000 population per annum. Such increase in the number of chronic disorders will impel the regional growth. In addition, presence of mass local manufacturers in Southeast Asia will further fuel the growth for APAC region.
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A few notable companies operating in the market include Bristol-Myers Sqiubb, Amphastar Pharmaceutical, Sanofi, Hepalink group, Pfizer, Leo Pharma, Laboratories Farmaceuticos Rovi SA among others. These industry players are focusing on various strategies such as business expansion, novel product launches and acquisitions to consolidate their market presence.
Table of Contents (ToC) of the report:
Chapter 3. Anticoagulants Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 - 2027
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls & challenges
3.4. Growth potential analysis
3.4.1. By drug class
3.4.2. By route of administration
3.4.3. By application
3.4.4. By distribution channel
3.5. COVID-19 impact analysis
3.6. Porter’s analysis
3.7. Competitive landscape
3.8. PESTEL analysis
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.