Increasing R&D Investments by Leading Players to Help Anticoagulants Market in Coming Years, Notes Fact.MR
Players in the anticoagulants market are coming forward to shoulder the financial burden of individuals through patient-assistance programs, as an instrument to boost the exposure of anticoagulants. For instance, Bristol-Myers Squibb offers financial aid to patients to purchase medicines through the company’s foundation. However, the program offers assistance only to individuals who are residents of the U.S. and not insured by any privately- or publicly-held company. Besides this, Boehringer Ingelheim offers the PRADAXA savings card to buy medicines at minimum rates. Increase in the number of manufacturers taking financial initiatives is projected to boost the adoption of drugs during the forecast period.
Sensing high growth prospects of the anticoagulants market, leading players are leveraging research & development activities, which is increasing the number of pipeline drugs. All-in-all, the anticoagulants market is expected to witness a healthy growth, with an estimated CAGR of ~8% during the forecast period.
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North America Region to Continue Dominating Global Market
In 2020, ~54% of sales of the total North American anticoagulants market are projected to arrive from cases of atrial fibrillation and heart attacks, and factor XA inhibitors will remain the preferred drug class. “On a global level, the U.S. is found to have the highest obesity rate, with Canada occupying a position in the top 10 most obese countries across the world. Given the direct correlation between obesity and heart diseases, the sales of anticoagulants are high in the U.S., and are projected to grow during the forecast period,” states Fact.MR The high technological prowess of players operating in the North American anticoagulants market offers them an edge to produce effective drugs with utmost precision, which further accelerates the momentum of the regional market.
In contrast to this, healthcare facilities in Asia Pacific have transformed only recently, which has been drawing the attention of individuals towards the significance of ideal health. Central authorities and key healthcare organizations are devising guidelines to endorse the use of certain types of drugs to control anticoagulant disorders, which is boosting the growth of the Asia Pacific anticoagulants market. A shift from conventional heparins to factor XA inhibitors is seen in the developed countries of this region; however, the popularity of heparins is projected to remain high in developing countries during the forecast period.
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Growing Popularity of Warfarin May Impact Market Growth
The popularity of conventional drugs such as warfarin is high, especially in developing countries, owing to their cost-benefits. The monthly cost of generic warfarin is in the range of ~US$ 16 t0 ~US$ 20. Given this influence, the demand for advanced anticoagulants is likely to get impeded during the forecast period. “In addition, these drugs are used for long-term treatment, which requires individuals to allocate an additional budget for these advanced drugs for a long duration. As a result, individuals residing in India, China, Brazil, and similar developing countries are showing reluctance in buying advanced anticoagulants”, opines Fact.MR
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