by Ticagrelor is an antiplatelet medication used to prevent heart attacks and strokes in patients with acute coronary syndrome or a history of myocardial infarction. As an oral medication, ticagrelor helps prevent blood clots and reduces the risks of further heart attacks or strokes. The global ticagrelor market is widely driven by the growing prevalence of cardiovascular diseases worldwide.
The Global Ticagrelor Market Size is estimated to be valued at US$ 1481.28 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of cardiovascular diseases is expected to drive the growth of the global ticagrelor market over the forecast period. Cardiovascular diseases such as coronary artery disease, heart failure, and strokes remain the leading causes of death and disability worldwide. As per the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2019, representing 32% of all global deaths. Moreover, conditions such as obesity and diabetes that increase the risks of cardiovascular diseases are also on the rise globally. This is expected to fuel the demand for ticagrelor for prevention of complications in cardiovascular disease patients over the coming years.
SWOT Analysis
Strength: Ticagrelor drug has strong efficacy in reducing major adverse cardiovascular events like heart attacks. It can help prevent clots better than standard treatment Plavix.
Weakness: Ticagrelor causes higher rates of bleeding complications compared to clopidogrel. Side effects like excessive bleeding can limit its use in patients.
Opportunity: Increasing prevalence of cardiovascular diseases and risks of thrombosis provides scope for ticagrelor market growth. Rising healthcare expenditure in emerging nations also opens up opportunities.
Threats: Patent expiries of blockbuster drugs mean lower profit margins. Stringent regulations for drug approvals can also delay product launches.
Key Takeaways
The global ticagrelor market is expected to witness high growth over the forecast period of 2024 to 2031. The market was valued at US$ 1481.28 Mn in 2024 and is projected to reach above US$ 2200 Mn by 2031, reporting a CAGR of 3.0%.
Regional analysis
North America currently dominates the ticagrelor market due to rising prevalence of chronic diseases. However, Asia Pacific is likely to emerge as the fastest growing regional market supported by growing healthcare spending. Countries like India, China and Japan are expected to be major revenue contributors in the coming years.
Key players
Key players operating in the ticagrelor market are tlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. These companies are focusing on new drug launches and geographical expansions to consolidate their market shares. Partnerships with regional pharmaceutical companies can help them enhance market reach in developing Asian and Latin American countries.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
