Rise in severe road accidents and significant increase in surgical procedures drive the growth of the global antifibrinolytic drugs market.
PORTLAND, Oregon, Jan. 14, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Antifibrinolytic Drugs Market by Indication (Gynecology, Hereditary Angiedema, Fibrinolytic Response Testing, Surgeries, and Others) and End user (Hospitals & Clinics, Ambulatory Surgical Centers, and Healthcare Specialty Process): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global antifibrinolytic drugs industry was pegged at $13.59 billion in 2018 and is projected to reach $19.33 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
Chief reasons for market fluctuations
Rise in severe road accidents and significant increase in surgical procedures have boosted the growth of the global antifibrinolytic drugs market. However, high cost of these drugs hampers the market growth. On the contrary, untapped potential in developing countries is expected to create lucrative opportunities in the near future.
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The gynecology segment dominated the market
The gynecology segment held the largest share in 2018, contributing to nearly one-third of the global antifibrinolytic drugs market, owing to increased adoption of these drugs to prevent menorrhagia i.e. heavy menstrual flow. However, the surgeries segment is expected to manifest the fastest CAGR of 5.9% during the study period, owing to significant increase in the number of surgeries being performed across the globe.
The trauma centers segment to manifest the fastest growth
The trauma center segment is anticipated to portray the fastest CAGR of 5.1% during the forecast period, owing to remarkable increase in road accidents globally. However, the hospitals and clinics segment held the largest share in 2018, accounting for nearly half of the global antifibrinolytic drugs market share. This is due to increased usage of these drugs in hospitals as most of the surgeries such as cardiovascular and neurosurgeries are performed in hospitals.
North America region held the lion's share
The global antifibrinolytic drugs market across North America held the largest share in 2018, contributing to more than two-fifths of the market, owing to surge in surgeries in the region. However, the market across the Asia-Pacific region is expected to register the fastest 6.1% during the forecast period, owing to increase in road accidents in this region.
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Major market players
- Xanodyne Pharmaceuticals
- ACIC Fine Chems
- Aurobindo Pharma Ltd.
- Amerigen Pharms Ltd
- Pfizer (GenMed)
- Zydus Cadila
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