The Antiplatelet Drugs Market is estimated to be valued at US$ 2321.37 Mn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Antiplatelet drugs are mainly used for prevention and treatment of cardiovascular diseases like myocardial infarction, stroke, peripheral arterial disease, and other conditions. The antiplatelet drugs inhibit the process of platelet activation and aggregation, which is a major cause for various cardiovascular events. The commonly used antiplatelet drugs include aspirin, clopidogrel, ticlopidine, prasugrel, ticagrelor and others.
Market Dynamics:
Rising prevalence of cardiovascular diseases is a major factor driving growth of the antiplatelet drugs market. For instance, according to the World Health Organization (WHO), cardiovascular diseases accounted for over 17.9 million deaths globally in 2016, representing 31% of all global deaths. In addition, increasing adoption of dual antiplatelet drug therapies such as aspirin and clopidogrel combination or aspirin and prasugrel combination for effective prevention of major adverse cardiovascular events is also expected to support the market growth over the forecast period. However, side effects associated with antiplatelet drugs such as bleeding risks may hamper the market growth.
Segment Analysis
The Global Antiplatelet Drugs Market Size is dominated by the aspirin segment. About 60-70% of patients undergoing angioplasty and stent implantation are prescribed aspirin. Aspirin is recommended as a preventive medication for those at high risk of heart attacks and strokes due to its effectiveness in relieving symptoms of pain, fever, and inflammation. It works by preventing blood clots from forming or growing larger.
PEST Analysis
Political: Governments worldwide are focusing on improving access to antiplatelet drugs particularly in developing nations. Many countries are also working on formulating favorable reimbursement policies to make treatment more affordable.
Economic: The rising global healthcare expenditure driven by increasing incidence of cardiovascular diseases is a major factor augmenting the growth of this market. The demand for low-cost generic antiplatelet drugs is also driving sales.
Social: Growing public awareness about cardiovascular conditions and lifestyle-related risks is encouraging people to seek timely medical intervention. Non-governmental organizations are working to spread knowledge about preventive care and management of heart diseases.
Technological: Companies are conducting extensive research to develop superior antiplatelet drugs with enhanced efficacy and safety profiles. Some new products in the pipeline have dual antiplatelet effects or target multiple platelet activation pathways.
Key Takeaways
The global antiplatelet drugs market is expected to witness high growth, exhibiting CAGR of 7.8% over the forecast period, due to increasing prevalence of cardiac disorders along with rising geriatric population who are more prone to heart attacks and strokes.
North America leads the global market for antiplatelet drugs due to the large target patient base undergoing angioplasty and stenting surgeries in this region, along with growing adoption of advanced treatments. Moreover, significant healthcare spending and strong presence of key players in the US and Canada fuel market growth.
Key players operating in the antiplatelet drugs market include AstraZeneca Plc, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo, Inc., Eli Lilly and Company, Merck & Co., Inc., Otsuka Pharmaceutical Company, Ltd., Sanofi, and The Medicines Company. Companies are investing heavily in developing novel therapies with improved efficacy and safety. For instance, AstraZeneca and Daiichi Sankyo are collaborating to commercialize Bempedoic acid for cardiovascular applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
