The global antiplatelet drugs market is estimated to be valued at US$ 2,153.4 million in 2022 and is expected to exhibit a CAGR of 7.8% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antiplatelet drugs are medications that help prevent blood clot formation by inhibiting platelet aggregation. These drugs play a crucial role in the treatment and prevention of cardiovascular diseases, such as heart attacks and strokes. They are also used in patients with coronary artery disease, peripheral artery disease, and atrial fibrillation. Some of the commonly prescribed antiplatelet drugs include aspirin, clopidogrel, ticagrelor, and prasugrel.
Market Dynamics:
The antiplatelet drugs market is primarily driven by two key factors: the increasing incidence of cardiovascular diseases and the growing geriatric population.
1. Increasing incidence of cardiovascular diseases: According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, accounting for approximately 17.9 million deaths each year. The rising prevalence of risk factors such as hypertension, obesity, and diabetes has contributed to the increased occurrence of cardiovascular diseases. Antiplatelet drugs are widely prescribed to reduce the risk of blood clot formation and subsequent cardiovascular events, which is driving the demand for these drugs.
2. Growing geriatric population: The global geriatric population is growing at a significant rate. According to the United Nations, the number of people aged 60 years and above is expected to reach 2.1 billion by 2050. The elderly population is more prone to cardiovascular diseases, requiring long-term management and preventive measures. As antiplatelet drugs are integral in the management of cardiovascular diseases, the growing geriatric population is fueling the demand for these drugs.
SWOT Analysis:
Strength:
1. Effective prevention of blood clot formation: Antiplatelet drugs have been proven to effectively reduce the risk of blood clot formation, thereby preventing cardiovascular diseases and related events.
2. Wide range of available drugs: There are several antiplatelet drugs available in the market, providing physicians with various options to customize treatment plans for individual patients.
Weakness:
1. Side effects: Antiplatelet drugs can have side effects such as bleeding, gastrointestinal distress, and allergic reactions. This may limit their use in certain patients.
2. Resistance: Some patients may develop resistance to certain antiplatelet drugs, reducing their effectiveness in preventing blood clot formation.
Opportunity:
1. Emerging markets: The increasing awareness about cardiovascular diseases and the improving healthcare infrastructure in emerging markets present significant opportunities for market growth.
2. Technological advancements: Ongoing research and development activities in the field of antiplatelet drugs are expected to lead to the development of new and improved drugs with enhanced efficacy and reduced side effects.
Threats:
1. Patent expiry: The patent expiry of certain antiplatelet drugs may lead to the entry of generic versions in the market, resulting in pricing pressure for branded drugs.
2. Stringent regulatory requirements: The regulatory requirements for the approval of antiplatelet drugs are stringent and time-consuming, which may hinder market growth.
Key Takeaways:
- The global antiplatelet drugs market is expected to witness high growth, exhibiting a CAGR of 7.8% over the forecast period, due to increasing incidence of cardiovascular diseases and growing geriatric population.
- In terms of regional analysis, North America is currently the fastest growing and dominating region in the antiplatelet drugs market. The region has a well-established healthcare infrastructure, high awareness about cardiovascular diseases, and a large patient pool.
- Key players operating in the global antiplatelet drugs market include AstraZeneca Plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo, Inc., Eli Lilly and Company, Merck & Co., Inc., Otsuka Pharmaceutical Company, Ltd., Sanofi, and The Medicines Company. These companies are focusing on research and development activities to introduce new and improved antiplatelet drugs in the market.
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