by Antiplatelet drugs are primarily used to prevent platelet activation and reduce the risk of harmful clot formation. Some common antiplatelet medications include aspirin, clopidogrel, ticlopidine, prasugrel, and ticagrelor. These drugs are prescribed to patients suffering from various cardiovascular diseases such as heart attack, stroke, unstable angina, coronary artery disease, and peripheral artery disease. The rising prevalence of cardiovascular disorders worldwide owing to sedentary lifestyles and growing geriatric population is expected to drive the demand for antiplatelet drugs over the forecast period.
The global antiplatelet drugs market is estimated to be valued at US$ 2321.37 Mn in 2023 and is expected to exhibit a CAGR of 0.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Antiplatelet Drugs Market is majorly driven by increasing prevalence of cardiovascular diseases. As per the World Health Organization (WHO), cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Hypertension, obesity and tobacco use are some of the key risk factors contributing to the rising burden of cardiovascular disorders. Furthermore, aging population who are more prone to develop heart conditions will further propel the antiplatelet drugs market growth over the forecast period.
However, side effects associated with long-term usage of antiplatelet agents such as increased risk of bleeding may hinder the market growth. Stringent regulatory conditions for drug approval is another challenge for market players. Nonetheless, continuous research and development towards developing novel therapeutic alternatives with improved safety profiles will provide lucrative opportunities in the upcoming years.
Segment Analysis
The global antiplatelet drugs market is dominated by the orthopedic surgery sub segment. Antiplatelet drugs are widely used during various orthopedic procedures such as hip and knee replacement surgeries to reduce bleeding and manage risks associated with surgery and implantation of devices. Rise in number of orthopedic surgeries globally is fueling demand for antiplatelet drugs from this segment.
PEST Analysis
Political: Government regulations around drug safety and efficacy are constantly evolving which manufacturers have to comply with. Recent patent expiries have allowed generic competition in the market.
Economic: Developed markets currently dominate the antiplatelet drugs market due to higher healthcare spends and aged population. However, growing middle class in developing countries will drive future growth opportunities.
Social: Increased health awareness and disposable income have led to rise in elective surgeries and cardiac interventions where antiplatelet therapy plays an important role in management of risks and care. Aging population profile further supports market growth.
Technological: Advanced drug delivery systems and novel compounds in clinical trials hold potential to improve patient outcome and compliance. Digitization of healthcare may help monitor patients remotely and facilitate access to therapy.
Key Takeaways
The global antiplatelet drugs market is expected to witness steady growth over the forecast period driven by rising incidence of cardiovascular and orthopedic conditions globally. The global antiplatelet drugs market is estimated to be valued at US$ 2321.37 Mn in 2023 and is expected to exhibit a CAGR of 0.8% over the forecast period 2023 to 2030.
The North America region currently dominates the market owing to concentration of key players, favorable reimbursements and higher healthcare spending. The Asia Pacific region is expected to emerge as the fastest growing market for antiplatelet drugs driven by improving access to healthcare services, rising medical tourism and increasing healthcare expenditures in countries like India and China.
Key players: Key players operating in the antiplatelet drugs market are Air Techniques, Inc., Maguire Refining, Inc., Solmetex, Durr Dental, Medentex GmbH, MARS Bio-Med Processes Inc., Dove Dental Products, METASYS, Crosstex International, Inc., Capsule Technologies Inc., A B Dental Trends, Inc., American Dental Accessories, Inc.,and Rebec Environmental. These companies are focusing on new product launches and expanding regional presence to strengthen their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
