Burgeoning demand for antiplatelet drugs to drive growth opportunities in the ticagrelor market
SWOT Analysis:
Strength: Ticagrelor has strong efficacy and safety profile for treatment of acute coronary syndrome. It has demonstrated significant reduction in risk of myocardial infarction, stroke or cardiovascular death.
Weakness: Being a relatively new drug, its long term safety is not well established yet. It also has some side effects like bleeding risk which limits its usage.
Opportunity: Emerging markets offer huge untapped growth potential for ticagrelor market players. There is also scope for developing novel drug delivery systems to enhance patient compliance.
Threats: Patent expiry of ticagrelor in coming years can increase competition from generic drug makers. Stringent regulatory norms also poses challenges for market players.
Key Takeaways
The Global Ticagrelor Market Size is expected to witness high growth, exhibiting CAGR of 12.3% over the forecast period of 2023-2030, due to rising prevalence of cardiovascular diseases. The market was valued at US$ 1,145.0 million in 2017.
Regional analysis: North America is currently the largest ticagrelor market, owing to increasing healthcare spending and rising patient awareness about new effective treatments. Asia Pacific region is expected to grow at fastest pace during the forecast period due to growing geriatric population, improving access to healthcare in developing countries, and presence of many key generic drug players.
Key players: Key players operating in the ticagrelor market are C.H. Boehringer Sohn AG & Ko. KG, Pfizer Inc., Eli Lilly and Company, AstraZeneca plc, Natco Pharma Limited, Anhui Haikang Pharmaceutical Co., Ltd., Avra Laboratories Pvt. Ltd., and Sun Pharmaceutical Industries Ltd. Few players also pursue partnerships for advancing their product portfolios. For instance, Natco Pharma entered into agreement with Pfizer for manufacture and sale of ticagrelor in India.
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