Antithrombotic Drugs Market Definition
The antithrombotic drugs market consists of sales of antithrombotic drugs by entities (organizations, sole traders and partnerships) that manufacture antithrombotic drugs which are used to prevent and treat arterial and venous thrombosis and as well reduce the formation of clots. The antithrombotic drug industry includes establishments that manufacture anti-thrombotic drugs such as anticoagulant, antiplatelet and thrombolytic drugs.
Antithrombotic Drugs Market Size
The global antithrombotic drugs market reached a value of nearly $35,801.9 million in 2019, having grown at a compound annual growth rate (CAGR) of 9.8% since 2015. Growth in the historic period resulted from aging population and emerging markets.
Growth in the historic period resulted from aging population and emerging markets. Factors that negatively affected growth in the historic period were patent expiry of drugs, pricing, high costs of drug approval. The market is expected to grow at a CAGR of 7.7% to nearly $44,702.6 million by 2022.Also the market is expected to growth to $55,172.2 million in 2025 at a CAGR of 7.3% and to $ 72,996.5 million in 2030 at a CAGR of 5.8%.
Going forward, busy life styles, technology and faster economic growth is expected to drive the market. Factor that could hinder the growth of the antithrombotic drugs market in the future include pricing pressures and side effects of antithrombotic drugs.
Antithrombotic Drugs Market Drivers
The key drivers of the antithrombotic drugs market include:
Aging Populations
The aging population profile of most countries contributed to the growth of the anti-thrombotic drugs market. During 2014-2017 the number of people globally over the age of 65 grew from below 450 million to 601 million, an increase of 33%, according to estimates based on Population Reference Bureau data. This trend is expected to continue throughout the forecast period. The percentage of seniors is expected to grow from 24% in 2012 to 40% in 2050 in Japan. The increase in the aging population has increased the patient pool of cardiovascular diseases which is a leading cause of premature deaths. In 2013, South Asia, including India, has experienced more than 1.8 million deaths due to cardiovascular diseases. This has led to increased demand for antithrombotic drugs that prevents blood clots or thrombosis and reduces the risk of stroke or heart attack, significantly impacting market growth during this period.
Antithrombotic Drugs Market Restraints
The key restraints on the antithrombotic drugs market include:
Thrombosis Drugs’ Side Effects
Side effects are the major issue faced by the thrombosis patients and therefore often doctors try to recommend alternate therapy to their patients and this factor is expected to limit the growth of anti-thrombotic drug market in the forecast period. Most of the side effects of the antithrombotic drugs are increased bruising, red or pink colored urine, more bleeding than normal in menstrual periods in females, pain, increased risk of pregnancy complications, and a change in temperature. For example, warfarin can lead to fetal death if a woman is pregnant and consuming the drug.
Antithrombotic Drugs Market Trends
Major trends influencing the antithrombotic drugs market include:
Novel Oral Anti-coagulants (NOACs) To Prevent Thrombosis
NOACs are gaining wider acceptance and are replacing traditionally used anti-coagulants such as Warfarin and Heparin. Anti-coagulants have long been used in prevention of thrombus formation in patients suffering with cardiovascular diseases. Use of NOACs makes it easier for patients to continue therapy post discharge as opposed to injections of Heparin and Warfarin which need medical assistance for administration. Some of the NOACs include Pradaxa (dabigatran etexilate) from Boehringer Ingelheim, Xarelto (rivaroxaban) from Janssen, and Eliquis (apixaban) from Bristol-Myers Squibb.
Tranexamic Acid To Prevent Postpartum Hemorrhage
Tranexamic acid is increasingly being used to prevent postpartum hemorrhage (blood loss of over 500 ml or 1,000 ml within 24 hours of childbirth) due to its cheap price and wide availability. Tranexamic acid is an antifibrinolytic drug that helps in reducing bleeding in surgical and trauma patients, including women with postpartum hemorrhage. In April 2017, WOMAN (World Maternal Antifibrinolytic), an international, randomized, double-blind, placebo-controlled trial including over 20,000 women from 193 hospitals in 21 countries, found that using tranexamic acid within three hours of childbirth lowered death from bleeding by 31% and reduced the need for laparotomy (emergency bleeding control surgery) by 36%, as compared to placebo. Tranexamic acids are also used in treating bleeding that can be caused by new antithrombotic drugs such as dagibatran, rivaroxaban, and fondaparinux.
Opportunities And Recommendations In The Antithrombotic Drugs Market
Opportunities – The antithrombotic drugs market size will gain the most in China at $2,674.0 million. Market-trend-based strategies for the antithrombotic drugs market include developing effective therapies that replace traditional therapies, developing tranexamic acid drug and new patented drugs to offer improved treatment to thrombosis patients. Player-adopted strategies in the antithrombotic drugs industry include strengthening portfolio through mergers and acquisitions and investing in research and development for development of new drug regimen for thrombotic conditions.
Recommendations – To take advantage of these opportunities, The Business Research Company recommends the antithrombotic drugs companies to focus on Developing Novel Oral Anti-coagulants (NOACs), adopting skimming price strategy, scaling up through collaborations, and using Direct-To-Consumer (DTC) advertising, among other strategies.
Antithrombotic Drugs Market Segmentation
The antithrombotic drugs market is segmented by type, by end-use industry and by geography.
By Type-
The antithrombotic drugs market can be segmented by type into
- a) Anti-Coagulant Drugs
- b) Anti-Fibrinolytics Drugs
- c) Anti-Platelet Drugs
The anticoagulant drugs market was the largest segment of the antithrombotic drugs market, accounting for 54.6% of the total market in 2019. The antiplatelet drugs market is expected to be the fastest-growing segment going forward at a CAGR of 8.7%.
By Application-
The antithrombotic drugs market can be segmented by application into
- a) Blood Clot And Thromboembolic Treatment Drugs
- b) Hyperlipidemia Treatment
- c) Prophylactic Treatment
- d) Other Applications
The blood clot and thromboembolic treatment drugs was the largest and fastest growing segment of the antithrombotic drugs market by application, accounting for 35.9% of the total market in 2019.
By Drug Class -
The antithrombotic drugs market can be segmented by drug class into
- a) Heparin
- b) Apixaban
- c) Rivaroxaban
- d) Others
- e) Dabigatran
- f) Fondaparinux
The heparin was the largest segment of the antithrombotic drugs market by drug class, accounting for 38.6% of the total market in 2019. The apixaban market is expected to be the fastest-growing segment going forward at a CAGR of 12.5%.
By Route Of Administration-
The antithrombotic drugs market can be segmented by route of administration into
- a) Oral
- b) Parenteral Route
The oral was largest segment of the antithrombotic drugs market, accounting for 70.8% of the total market in 2019, and is expected to be the fastest-growing segment going forward at a CAGR of 8.2%.
By Distribution Channel-
The antithrombotic drugs market can be segmented by distribution channel into
- a) General Pharmacies
- b) Hospital Pharmacies
- c) Online Retailers
The general pharmacies was largest segment of the antithrombotic drugs market, accounting for 62.2% of the total market in 2019. The online retailers’ distribution channel is expected to be the fastest-growing segment going forward at a CAGR of 13.0%.
By Geography- The antithrombotic drugs market is segmented into
- o North America
- o Western Europe
- o Asia Pacific
- China
- Japan
- India
- Australia
- Indonesia
- South Korea
- o Eastern Europe
- o South America
- o Middle East
- o Africa
Asia-Pacific was the largest region in the antithrombotic drugs market, accounting for 36.1% of the global market in 2019. It was followed by North America, Western Europe and the other regions. Going forward, the fastest growing regions in the antithrombotic drugs market will be Asia-Pacific and the Middle East
Antithrombotic Drugs Competitive Landscape
Major Competitors are:
- • Bristol Myers Squibb
- • Bayer AG
- • Pfizer
- • Johnson & Johnson
- • Boehringer-Ingelheim
Other Competitors Include:
- • AstraZeneca
- • Daichii Sankyo
- • Eli Lilly
- • Otsuka Pharmaceutical
- • Portola Pharmaceutical Inc.
- • Yuyu Pharma Inc.
- • Daiichi Sankyo Company, Limited
- • Glenmark Pharmaceuticals Limited
- • China National Pharmaceutical Group Corp
- • Novartis
- • Acetlion Pharmaceuticals
- • Generium
- • Aspen
- • Servier
- • Sun Pharmaceutical Industries Ltd
- • Petrovax LLC
- • Janssen Pharmaceuticals
- • Merck & Co
- • Servier Canada Inc
- • Valeo Pharma
- • JP Indústria Pharmaceutica SA
- • Cristália
- • Julphar
- • SAJA Pharmaceuticals
- • Saudi Pharmaceutical Industries & Medical Appliances Corporation