Thrombosis Drugs Market: The Market in North America to Expand at a Considerable Pace and Create Incremental Opportunity
Global Thrombosis Drugs Market – An Overview
Over the forecast period of 2018 to 2026, notable growth would be charted by global thrombosis drugs market, creating a string of advantageous opportunities and driving the market valuation to a higher worth. Multiple factors of growth are helping the global thrombosis drugs market stay on an upward and steep growth curve over the stated period. Some of these include poor lifestyle choices gaining foothold among consumers, increasing burden of cardiovascular diseases, and growing government efforts towards improvement in healthcare outcomes.
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A detailed overview of trends and drivers that are contributing significantly to growth in the global thrombosis drugs market can be found below:
- Number of people in the geriatric age group is increasing and it is increasing at a rapid pace. As per research undertaken recently, there would be an increase from approximately 970million in 2017 to 2 billion in 2050 in the number of people aged 60 and above. This phenomenon is going to be quite pronounced in regions of Europe and North America where one in every four people will be aged 65 and above by this year. One in every six people will be the ratio of people in this age group across the world. This demographic is a major consumer of thrombosis drugs and is therefore set to propel notable growth in the market.
- Research and development in the market is witnessing increase in activity and intensity – a result of growing number of cases of cardiovascular diseases. Poor diet and habits such as excessive drinking and smoking is leading to increase in incidence of these diseases across the globe. This is contributing massively to growth that is anticipated in the global thrombosis drugs market. Additionally, obesity or being over-weight is also increasing the risk of CVD, driving demand for thrombosis drugs by a notable factor over the forecast period,
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Global Thrombosis Drugs Market - Snapshot
Thrombosis is the medical term for an abnormal blood clot in an artery or vein. Thrombosis drugs are used to prevent or treat the blood clot, which can cause different thrombotic events. Medication to treat is likely to include anticoagulants drugs and thrombin inhibitors drugs. In terms of revenue, the global thrombosis market was valued at approximately US$ 20,000 Mn in 2017 and is anticipated to surpass US$ 47,000 Mn by 2026, expanding at a CAGR of 9.5% from 2018 to 2026. Rise in the number of patients affected by thrombosis and availability of new drugs formulation products with improved features are likely to fuel the global thrombosis drugs market from 2018 to 2026.
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Thrombosis drugs are generally blood thinners. These drugs decrease the clotting power of blood and consequently, the chances of thrombosis events, such as pulmonary embolism, decrease. These drugs are available in the form of injection, capsule, and tablet. Key players are focusing on the development of drugs with better efficacy. For instance, Grifols Therapeutics Inc., a U.S.-based biotechnology company is projected to launch AT- lll, a new type of human recombinant thrombosis drugs for the indication of cardiac surgery cardiopulmonary bypass. Such key developments are likely to fuel the global thrombosis drugs market in the near future. However, the high price of non-vitamin K oral anticoagulant drugs and the availability of generic drugs are likely to hamper the global thrombosis drugs market during the forecast period.
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Several unmet needs are anticipated to create significant opportunities for existing players and new entrants in the global thrombosis drugs market. Rapid technological advancements in treatment therapies create opportunities for players operating in the global thrombosis drugs market. Ongoing developments in thrombosis drugs, such as Revo Biologic’s ATryn with continuous infusion of drugs are likely drive the thrombosis drugs market during the forecast period.
The global thrombosis drugs market can be segmented based on drug class, indication, distribution channel, and geography. In terms of drug class, the factor Xa inhibitor segment dominated the market and is expected to continue this trend during the forecast period, followed by the P2Y12 platelet inhibitor segment. Increasing preference for the usage of oral anticoagulant drugs with predictable dose release response is likely to propel the segment during the forecast period. The low molecular weight heparin drug class segment, is likely to lose market share during the forecast period owing to patent expiry. Based on indication, the pulmonary embolism segment led the market, in terms of revenue, in 2017. The segment is projected to continue to dominate the market during the forecast period. In terms of distribution channel, the hospital pharmacies segment accounted for a large share of the market in 2017 and is likely to continue its dominance during the forecast period.
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In terms of geography, North America held a major share of the global thrombosis drugs market in 2017. High utilization rate of new oral anticoagulant drugs is a key factor that propels the market in North America. Moreover, favorable reimbursement for the treatment of different thrombosis events under Medicare policy also boosts the market in this region. In terms of revenue, the market in Europe and Asia Pacific is projected to expand during the forecast period. Rising prevalence of deep vein thrombosis and increasing awareness about the treatment and usage of drugs to treat different thrombosis events in countries such as Brazil and South Africa are likely to boost the market in Latin America and Middle East & Africa.
Key companies operating in the global thrombosis drugs market, which are profiled in the report, include GlaxoSmithKline plc., Baxter International Inc., Johnson & Johnson, Sanofi, Bristol-Myers Squibb Company, AstraZeneca plc, Bayer AG, Aspen Pharmacare Holdings Limited, Boehringer Ingelheim GmbH, and Pfizer, Inc. These players are adopting organic and in-organic growth strategies to expand their product offerings, strengthen their geographical reach, increase customer base, and gain market share. For instance, in September 2014, Mylan Inc., acquired the U.S. commercialization, marketing, and intellectual property rights relating to Arixtra (fondaparinux sodium) injection and the authorized generic of Arixtra from Aspen Global Incorporated. This acquisition enhanced Mylan Inc’s expansion opportunities in the U.S. market.
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