Anticoagulants Market by Offering [Novel Oral
Anticoagulants (NOACs), Vitamin K Antagonist, and Heparin & Low Molecular
Weight Heparin (LMWH)], Application [Deep Vein Thrombosis (DVT), Pulmonary Embolism,
Myocardial Infarction (MI), and Atrial Fibrillation (AF)] – Global Outlook
& Forecast 2021-2031
According to the deep-dive market assessment study
conducted by Growth+ Reports, the global anticoagulants market was pegged at ~US$ 30.15
billion in 2020. The market is expected to witness a CAGR of ~7.3% from 2021 to
2031.
Government
bodies and numerous organizations across the globe are implementing several
initiatives to fast-track the development of anticoagulants by providing the
necessary funding, grants, permissions, clearances, and approvals. For
instance, in December 2019, the U.S. Food and Drug Administration approved the
first generic version of the powerful blood thinner Eliquis (apixaban) made by
Mylan and Micro Labs. Eliquis (apixaban) is an anticoagulant used for the
treatment of blood clots and prevention of stroke in people with nonvalvular
atrial fibrillation, marketed by Bristol-Myers Squibb and Pfizer.
Atrial
fibrillation (AF) is an abnormal heart rhythm (arrhythmia) characterized by the
rapid and irregular beating of the atrial chambers of the heart. It is
associated with an increased risk of heart failure, dementia, and stroke. It
was projected that the prevalence of AFib in the United States will rise to 12.1
million in 2030. Likewise, Deep vein thrombosis (DVT) is the formation of a
blood clot in a deep vein, most commonly in the legs or pelvis. It was
estimated that 60,000-100,000 Americans die of DVT each year. Anticoagulation
therapy is an effective treatment for the prevention of further complications in
patients with AF and DVT. Therefore, the increasing prevalence of AF & DVT
is expected to propel the growth of the market.
In
an effort to maintain their position in the market, the prominent players are
continuously implementing collaborative strategies to boost R&D activities
and launch more effective drugs. For instance, in June 2020, Lonza announced a
partnership agreement with Anthos Therapeutics, a biotech company created by
Blackstone Life Sciences and Novartis, for the development and manufacturing of
abelacimab, a novel factor XI and XIa antibody, which could address a range of
thrombotic disorders. Mylan NV in September 2020 announced the acquisition of
Aspen Pharmacare Holdings Limited’s thrombosis portfolio in Europe, thus making
Mylan Europe’s second-largest provider of anticoagulants.
However, the high cost of NOACs compared to
warfarin is expected to restrain the market to a certain extent. The novel oral
anticoagulants (NOACs) are a new class of anticoagulant drugs. NOACs have major
pharmacologic advantages over warfarin, such as rapid onset and offset of
action, lesser drug interactions, and predictable pharmacokinetics. However,
these novel drugs have a higher price and lead to an increase in health care costs
which may limit their adoption and in turn hinder the market growth.
The Asia
Pacific region is projected to be the fastest-growing anticoagulants market. The
high growth of the region can mainly be attributed to the presence of a large
patient pool, developing healthcare infrastructure, and the rising prevalence
of cardiovascular diseases in the region. Countries such as India and China in
the APAC region are projected to offer significant growth opportunities owing to
high clinical unmet needs and the rising geriatric population in the region.
Therefore, India, China, and Japan are the key markets for anticoagulants in the
Asia Pacific. North America due to its large addressable patient pool, presence
of greater awareness, and robust healthcare infrastructure dominates the global
anticoagulants market. The U.S. holds the largest share in the North American
market, followed by Canada.
Some of the prominent players operating in the
anticoagulants market are Johnson & Johnson Services, Inc., F. Hoffmann-La
Roche Ltd, Siemens Healthcare GmbH, Bayer AG, Daiichi Sankyo Company, Limited,
Pfizer Limited., Bristol-Myers Squibb Company, Boehringer Ingelheim, Amphastar
Pharmaceuticals, Inc., and Leo Pharma Inc., among others.
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