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Thrombin inhibitors are a class of anticoagulant pharmaceuticals that work by competitively and reversibly binding to thrombin and directly inhibiting its enzymatic activity. They are used to prevent the formation of blood clots after surgeries or in case of thrombotic conditions such as deep vein thrombosis, pulmonary embolism, myocardial infarction and unstable angina. The global thrombin inhibitor market is dominated by direct thrombin inhibitors (DTIs) such as bivalirudin, argatroban and dabigatran which are widely used for hemodialysis, cardiopulmonary bypass surgeries and treatment of venous thromboembolism.
The global Thrombin Inhibitor Market is estimated to be valued at US$ 30.75 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rising prevalence of cardiovascular diseases, increasing number of surgeries being performed worldwide and rapid growth in geriatric population are expected to drive the thrombin inhibitor market growth over the forecast period. As per estimates by the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2019 and are the leading cause of death globally. Growing acceptance of thrombin inhibitors to reduce bleeding risks associated with anticoagulants such as heparin during surgical procedures and rising adoption in treatment of thrombotic disorders are some of the major factors propelling the market growth. However, stringent regulatory policies and high costs associated with DTIs may hamper the market expansion during the forecast period.
Segment Analysis
The thrombin inhibitor market can be segmented based on product, application, distribution channel, and region. Based on product, the market is segmented into direct thrombin inhibitors and indirect thrombin inhibitors. The direct thrombin inhibitors segment is dominating the market as they have greater affinity for thrombin and act as competitive inhibitors of thrombin. These drugs like Dabigatran and Argatroban have more effectiveness in treating conditions like atrial fibrillation.
PEST Analysis
Political: Government regulations regarding approval of new drugs is a critical factor. Safety standards set by regulatory authorities impacts the R&D and approval process.
Economic: Rising healthcare spending coupled with growing geriatric population prone to thrombotic conditions drives market growth. However, pricing pressure and patent expiries of blockbuster drugs impede market economics.
Social: Increasing awareness about treatment of conditions like heart attacks, strokes, pulmonary embolism and deep vein thrombosis boosts product demand.
Technological: Advancements in thrombolytic drugs and their delivery systems aid better patient outcomes. Combination therapies with antiplatelets or anticoagulants show potential.
Key Takeaways
The global thrombin inhibitor market is expected to witness high growth. The global Thrombin Inhibitor Market is estimated to be valued at US$ 30.75 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
The North America region currently dominates the market attributed to advanced healthcare infrastructure and rising healthcare spending. Europe also captures a sizable market share owing to increasing research focus on newer drug formulations. The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is credited to growing medical tourism, rapidly improving healthcare infrastructure, and increasing spending capacity of the large patient pool in emerging countries like India and China.
Key players related content comprises
Key players operating in the thrombin inhibitor market are Pfizer Inc., Bristol Myers Squibb, Bayer AG, Sanofi S.A., Boehringer Ingelheim GmbH, Johnson & Johnson, Daiichi Sankyo Company, Limited, CSL Behring, Portola Pharmaceuticals, Inc., AbbVie Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Aspen Pharmacare Holdings Limited, Eisai Co., Ltd.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
