ALBANY, New York, May 3, 2019 /PRNewswire/ -- TMR's analysts estimate that the global anticoagulants market is expected to touch US$ 40,158.4 mn by the end of the forecast period. The market was valued US$ 21,759.3 mn in 2018. The growth of the market is anticipated to occur at a promising 8.0% CAGR during 2018-2026.
From the perspective of drug class, factor Xa inhibitors segment is gaining traction in the global anticoagulants market due to its high usage in various indications such as stroke, heart attack, pulmonary embolism (PE), angina, surgery, and deep venous thrombosis (DVT). On the regional front, North America showcases the highest share in the global anticoagulants market with growing number of several surgical procedures such as knee and hip replacements, and rising healthcare expenditures.
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Rapid Introduction of Innovative Oral Anticoagulants Drugs Fillip Market
Anticoagulants drugs are the chemical substances which prevent blood coagulation and prolong blood clotting time. Such drugs are primarily used for reducing the risks associated with blood clots in several medical conditions. Therefore, growth of the global anticoagulants market is majorly fueled by the rising prevalence of cardiovascular diseases and venous thromboembolism (VTE). Along with this, rapid adoption of novel oral anticoagulants (NOACs) and growing awareness about NOACs to reduce risks of chronic diseases in the developing regions are also providing impetus to the growth of the global anticoagulants market.
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Furthermore, surging demand of novel therapeutics and higher unmet medical needs in both developing and developed economies are also supporting growth in the global anticoagulants market. Apart from these, other major factors such as increasing number of people with obesity, rising elderly population, and flourishing healthcare industry worldwide are also propelling expansion in the global anticoagulants market. However, rising investments in research and development in the pharmaceutical sector and growing cases of hip and knee replacement surgeries are also contributing to an increasing demand in the global anticoagulants market.
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Risk of Drugs' Side-effects to Obstruct Market Growth
Although, the global anticoagulants market is growing steadily due to the numerous advantages it provides to the patients, however, it still faces some challenges which hamper its growth. Stringent rules and regulations set by several governments and risk of complications and side-effects associated with consuming oral anticoagulants are a couple of these roadblocks. Nonetheless, technological advancements in diagnosis of deep vein thrombosis (DVT) and rising incidences of DVT are believed to overcome these obstructions in the coming years.
The global anticoagulants market depicts a highly fragmented vendor landscape, observes Transparency Market Research (TMR). Different scales of players in the market are competing among themselves to achieve the top spot. Other than the players, several companies in the global anticoagulants market are also vying for a permanent position.
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The topmost companies in the global anticoagulants market are emphasizing on delivering the most effective drugs. Their mission is to develop, discover, and deliver innovative medicines which help patients prevail over serious illnesses and diseases. Therefore, these companies are heavily investing in research and development to invent specific drugs with great potential. Moreover, through the research and development organization, such companies are trying to build a sustainable pipeline of several potential therapies. They are partnering with other large vendors in the global anticoagulants market to broaden their geographical territories and accelerate their research work. A few renowned companies' names in the global anticoagulants market include Bristol-Myers Squibb Company, Johnson & Johnson Services, Daiichi Sankyo, Bayer Healthcare, and Sanofi.
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The review is based on a market research report by TMR, titled, "Anticoagulants Market (Route of Administration - Oral, Injectable; Drug Class - Factor XA Inhibitors (NOAC/DOAC), Heparins, Direct Thrombin Inhibitors, Vitamin K Antagonists; Indication - Deep Vein Thrombosis (DVT), Pulmonary Embolism (PE), Atrial Fibrillation and Heart Attack; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026".
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