The antiplatelet drugs market is estimated to be valued at US$ 2321.37 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antiplatelet drugs are medicines that are used to prevent or reduce the clumping or aggregation of platelets in the blood. These drugs help prevent platelets from clumping together to form clots. They are mainly used in the prevention of atherothrombotic events like heart attacks and strokes. Some common antiplatelet drugs include clopidogrel, prasugrel, ticagrelor, and aspirin.
Market Dynamics:
The Global Antiplatelet Drugs Market Sizeis primarily driven by the increasing prevalence of cardiovascular diseases across the globe. For instance, according to World Health Organization (WHO), cardiovascular diseases are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. The other major driver is the growing geriatric population worldwide who are more prone to cardiovascular diseases. Moreover, rising awareness regarding preventive healthcare and availability of generic antiplatelet drugs is also fuelling market growth. However, side effects associated with antiplatelet drugs like increased risk of uncontrolled bleeding and requirement for blood monitoring during the treatment period can hinder the market growth.
SWOT Analysis
Strength: Antiplatelet drugs have a strong efficacy in preventing blood clots and reducing chances of heart attacks and strokes. These drugs have well established brands and large patient pool. Many antiplatelet drugs are available as cost-effective generic versions.
Weakness: Long term intake of antiplatelet drugs increases the risk of internal bleeding and bruising. Stopping these drugs abruptly can lead to rebound effects and increase thrombosis risk.
Opportunity: Increasing prevalence of cardiovascular diseases and growing geriatric population susceptible to heart conditions provide growth opportunities. Advancing drug delivery systems help improve patient compliance and safety.
Threats: Entry of biosimilar versions impact sales of established brands. Strong regulatory framework around approvals poses delay threats.
Key Takeaways
The global antiplatelet drugs market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing prevalence of cardiovascular diseases. Cardiovascular diseases pose a huge disease burden and their treatment requires long term management with antiplatelet drugs.
Regional analysis: North America dominated the antiplatelet drugs market in 2023 with share of over 35%, owing to large pharmaceutical industry presence, high healthcare spending and growing geriatric population susceptible to chronic diseases. However, Asia Pacific region is expected to witness fastest growth during the forecast period supported by rising income levels, healthcare reforms and growing awareness.
Key players operating in the antiplatelet drugs are 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. Market leaders are focusing on new drug development, strengthening their generic drug portfolios and partnerships to tap high growth regions.
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