by Market Overview:
Anticoagulant drugs are commonly referred to as blood thinners and are used to prevent the formation of blood clots in the circulatory system. They are used to treat various conditions such as deep vein thrombosis, pulmonary embolism, atrial fibrillation and stroke. The novel oral anticoagulants have certain advantages over traditional anticoagulants as they have fewer drug and food interactions and do not require regular blood monitoring.
Market key trends:
One of the key trends in the anticoagulant market is the shift from traditional anticoagulant drugs to novel oral anticoagulants (NOACs). NOACs have simpler dosing regimens than vitamin K antagonists due to fixed dosing without the need for routine coagulation monitoring or dose adjustments. Moreover, NOACs have a shorter half-life and faster onset of action as compared to traditional anticoagulants. These advantages of NOACs over traditional anticoagulants have been a major driver for the rising adoption of NOACs globally.
The anticoagulant market has been witnessing a rise in the development of novel oral anticoagulants (NOACs) over the past few years. NOACs have advantages over traditional anticoagulants such as vitamin K antagonists as they have fewer drug and food interactions and do not require frequent monitoring through blood tests. Moreover, the ongoing clinical trials evaluating the efficacy of NOACs in various therapeutic indications are further supporting their growth.
The global Anticoagulant Market Size is estimated to be valued at US$ 36,830.47 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strengths: Wide range of applications in thrombotic disorders. NOACs have better safety profiles than warfarin.
Weaknesses: Risk of bleeding. Require close monitoring due to lack of antidote.
Opportunities: Untapped demand in developing regions. Ongoing clinical trials evaluating new anticoagulant drugs.
Threats: Patent expiration of blockbuster drugs. stringent regulatory approvals of new drugs.
Key Takeaways
The global anticoagulant market size was valued at US$ 36,830.47 Mn in 2023 and is expected to reach US$ 67,264.33 Mn by 2030, expanding at a CAGR of 9.4% during the forecast period. Factors such as the increasing prevalence of cardiovascular disorders and growing geriatric population are expected to drive the growth.
Regionally, North America dominated the market with over 30% market share in 2023 due to the rising prevalence of atrial fibrillation and venous thromboembolism in the region. However, Asia Pacific region is anticipated to witness the fastest growth over the forecast period considering the improving healthcare infrastructure and increasing disposable income in developing countries such as India and China.
Key players operating in the anticoagulant market are Pfizer Inc., Sanofi SA, Dr. Reddy’s Laboratories, Aspen Holdings, Abbott Laboratories, Leo Pharma AS, Alexion Pharmaceuticals Inc., Bayer AG, Johnson & Johnson, Bristol-Myers Squibb Company, Daiichi Sankyo Company, and Boehringer Ingelheim Pharmaceuticals Inc., among others. Major players are focused on developing novel oral anticoagulants through strategic collaborations and drug partnerships to strengthen their product portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
