New York, US, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Anticoagulation Market Overview
According to a comprehensive research report by Market Research Future (MRFR), the “Anticoagulation Market Information by Drug Class, Disease Indication, Route Of Administration, Distribution Channel, and Region- Forecast till 2027”. the market is projected to cross USD 31,696.59 Million by 2027 at 7.80% CAGR.
Market Scope:
The global anticoagulation market is growing steadily due to the rising demand for anticoagulants, which creates lucrative growth opportunities for thenumber of players coming forward with new and better products. The value chain analysis of the anticoagulationmarket comprises four major components: research & development and designing, manufacturing the products, distribution & sales, and post-sales services.
Research &development start with conceptualizing, followed by design, then development, and lastly, testing. The R&D segment comprises 25-30% of the value chain. After the product designs are final, the manufacturing of the product starts. Manufacturing consists of 45-50% of the value chain. Then comes distribution and sales, which is essential for any industry
Market USP exclusively encompassed:
Top Growth Boosters
Escalating cases of heart attacks worldwide, on the backdrop of bad eating habits and soaring number of smokers and alcoholics, have widened the patient base for anticoagulants in recent years. Anticoagulation drugs are witnessing strong sales worldwide, but particularly in emerging countries, in view of the rising financial aid by the government and other authorities to upgrade medical facilities and service quality. Sensing the lucrative opportunities that lie in the anticoagulation market, most of the players are focusing on conducting exhaustive research & development activities, which is bolstering the number of pipeline drugs. This has ultimately had an excellent impact on the global industry.
The booming geriatric population worldwide has been favorable for the global market as well. This demography is significantly vulnerable to several chronic ailments, which fosters the need for anticoagulation drugs. Players active in this field are shouldering the financial burden of patients via programs, as a way to foster the awareness about anticoagulants. For example, Bristol-Myers Squibb is a well-known brand that provides financial assistance to patients with respect to buying medicines via its foundation. This program is primarily for patients from the United States.
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Competitive Landscape:
The MRFR report has profiled a few key companies, including:
- Pfizer Inc (US)
- Novartis AG (Switzerland)
- Sanofi (France)
- GlaxoSmithKline plc (UK)
- Daiichi Sankyo Company, Limited (Japan)
- Johnson & Johnson Services Inc (US)
- Boehringer Ingelheim International GmbH (Germany)
- Bristol-Myers Squibb Company (US)
- Hoffmann-La Roche Ltd (Switzerland)
- Portola Pharmaceuticals Inc (US)
Most of these contenders are known for developing strategies to further enhance their market positions, focusing on designing and launching advanced products as well as solutions in the market. They are primarily involved in forming strategic alliances, partnerships, collaborations, and acquisition. Launch of new drugs and seeking FDA approval is another practise of the players to widen their customer base. For instance, in June 2021, The Janssen Pharmaceutical Companies owned by Johnson & Johnson is seeking approval from the U.S. Food and Drug Administration for commercialization of XARELTO (rivaroxaban) for use in pediatric patients. The company has submitted the NDA for the same, seeking two indications, including treating venous thromboembolism (VTE/blood clots) as well as reducing the chances of recurrent VTE in individuals aged less than 18 years.
Market Restraints:
Substandard medical facilities, especially in underdeveloped countries along with strict FDA policies could curb the market growth in the following years.
COVID 19 Analysis
The COVID-19 outbreak has exposed the vulnerability of the healthcare sector to a large extent, with medical professionals now resorting to digitization and remote patient monitoring to continue business. With the prime focus on finding vaccines and viral tests, the anticoagulation market growth rate has dipped to some extent.
With that said, major firms active in the anticoagulants industry are progressively opting to sell their products on online channels for better customer reach with lower capital investment, which should ensure steady business growth in the years to follow.
Browse In-depth Market Research Report (145 Pages) on Anticoagulation: https://www.marketresearchfuture.com/reports/anticoagulation-market-10649
Market Segmentation
The drug class-based segments considered in the MRFR report include warfarin, vitamin K, heparins & Low Molecular Weight Heparin (LMWH) and direct oral anticoagulants (DOACs). Direct oral anticoagulant drugs such as Apixaban, Rivaroxaban, Edoxaban, Betrixaban, and Dabigatran offer several benefits, including cutting down the chances of systemic embolism and stroke, preventing pulmonary embolism (PE) and deep vein thrombosis (DVT).
Disease indications mentioned in the market study are stroke, heart attacks, Mechanical Heart Valves (MHV), Deep Vein Thrombosis (DVT)/Pulmonary Embolism (PE), and more. Frequent occurrence of deep vein thrombosis/pulmonary embolism, mechanical Heart Valves (MHV), and atrial fibrillation worldwide drive the market expansion rate.
Depending on route of administration, the major segments are injectable, oral, and more.
The top distribution channels listed in the MRFR study of the global market include hospital pharmacies, online pharmacies, and retail pharmacies. Retail pharmacies touched USD 8,618.33 million in the year 2019 and can project a growth rate of around 6.86% from 2020 to 2027. The segment’s lead in the global industry is due to the cost-effective drugs sold by retail pharmacies, especially when compared to hospital-based pharmacies.
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Regional Analysis
North America is the biggest market for anticoagulation and will remain the leader throughout the evaluation period. The North American market is largely fuelled by the expanding pool of heart patient base, increased awareness regarding lifestyle and chronic diseases, as well as frequent new product launches by the leading vendors. Backed by large-scale healthcare spending in the region, use of anticoagulation for reducing clot formation among heart patients has risen considerably and will continue to surge over the years ahead. Additionally, major firms keenly interested in bolstering their geographical reach continually launch or expand their product portfolios by strategic joint ventures and alliances.
Asia Pacific would show the fastest growth in the coming years, given the rising burden of various chronic diseases, booming population, and the expanding geriatric patient pool. The drastic rise in people’s disposable income, paired with the expanding manufacturing units of the significant players in the region further elevate the market status. Plus, the emergence of new and highly advanced treatment lines along with the vast pool of highly skilled healthcare professionals have a remarkable impact on the APAC market.
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