PORTLAND, Oregon, August 7, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, Anticoagulants Market, by Drug Class, Route of Administration, Application: Global Opportunity Analysis and Industry Forecast, 2018-2025," the market was valued at $24,265 million in 2017, and is expected to reach $43,427 million by 2025, growing at a CAGR of 7.5% from 2018 to 2025.
Anticoagulants are medicinal substances that reduce the coagulation of blood and prolong the clotting time. Anticoagulant drugs achieve their effects by suppressing the synthesis or function of various clotting factors that exist in the blood. The global anticoagulants market is anticipated to show significant market growth during the forecast period, owing to increase in prevalence of ischemic heart disease and venous thromboembolism (VTE) and awareness of novel oral anticoagulants (NOACs). In addition, increasing number of geriatric population and growing incidence of obese population is expected to further increase the demand for anticoagulants throughout the forecast period. On the other side, very high cost of NOACs is expected to negatively affect the growth of the anticoagulants market.
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On the basis of drug class, the anticoagulants market is segmented as NOACs, heparin & LMWH, vitamin K antagonist, and others. At present, the NOACs segment is a major revenue-generating segment and is anticipated to show dominance during the forecast period, owing to growing awareness of NOACs and rising use of NOACs over the warfarin. However, higher price of NOACs hinders the market growth. As per the route of administration, the anticoagulants market is segmented as oral anticoagulant and injectable anticoagulant. At present, the oral anticoagulant segment is a major revenue-generating segment and is anticipated to show dominance during the forecast period, owing to growing adoption of NOACs and rising availability of lower cost warfarin.
The application market is categorized as atrial fibrillation & heart attack, stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), and others. Presently, the atrial fibrillation & heart attack segment is a major revenue contributor and is anticipated to show dominance throughout the forecast period, owing to large target population and increase in use of anticoagulants to treat these conditions. However, the DVT segment is expected to show the fastest market growth, attributed to the increase in prevalence of DVT and technological advancement in diagnosis of DVT.
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Key Findings of the Anticoagulants Market:
- As per the drug class, the NOACs segment is expected to show the fastest market growth and grow at a CAGR of 8.0% from 2018 to 2025.
- On the basis of the route of administration, the oral anticoagulant segment held more than half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
- By application, the deep vein thrombosis (DVT) segment is expected to exhibit the fastest growth at a CAGR of 8.4% from 2018 to 2025.
- Region-wise, the Asia-Pacific region is expected to experience growth at the highest rate, registering a CAGR of 9.2% during the forecast period.
North America accounted approximately one-half of the global market share in 2017 and is expected to remain dominant throughout the forecast period. This was attributed to the higher demand for novel therapeutics, strong presence of key players, early diagnosis, developed healthcare infrastructure, presence of trained medical professionals, and larger target population. However, the Asia-Pacific region is expected to experience the highest growth rate during the forecast period, majorly owing to improving healthcare infrastructure with developing economies, rising diagnosis rate, enhancing health awareness, and increasing prevalence of cardiovascular disease and VTE.
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SOURCE Allied Market Research