The Global Ticagrelor Market is estimated to be valued at US$ 1285.83 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ticagrelor works as an antiplatelet drug administered orally to prevent heart attack or stroke in patients with acute coronary syndrome (ACS) or a history of myocardial infarction. It inhibits adenosine diphosphate-mediated platelet activation and aggregation which helps in reducing thrombotic cardiovascular events.
Market key trends:
One of the key trends in the ticagrelor market is its increasing demand in the treatment of acute coronary syndrome. Ticagrelor has demonstrated higher efficacy than clopidogrel in reducing major adverse cardiovascular events in patients with ACS. It inhibits platelet aggregation more rapidly and to a greater extent than clopidogrel. Ticagrelor also exhibits a predictable pharmacokinetic profile and shorter onset of action as compared to clopidogrel. This increased efficacy and safety profile has boosted the demand of ticagrelor globally.
SWOT Analysis
Strength: Ticagrelor offers faster and stronger platelet inhibition than other oral antiplatelet drugs like clopidogrel. Ticagrelor provides additional protective benefits against cardiovascular ischemic events.
Weakness: Ticagrelor increases the risk of major bleeding events compared to clopidogrel. It is associated with dyspnea and is generally more expensive than clopidogrel.
Opportunity: Growing geriatric population and rising prevalence of coronary artery disease, myocardial infarction, and stroke presents an opportunity for ticagrelor market growth. Increasing awareness about cardiovascular health also supports market expansion.
Threats: Patient non-compliance due to side effects of ticagrelor and availability of cheaper generic antiplatelet drugs pose significant threats. Entry of new therapeutic alternatives further intensifies the competition.
Key Takeaways
The Global Ticagrelor Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of coronary artery diseases and rising cardiovascular procedures worldwide.
Regional analysis: North America currently dominates the ticagrelor market and is anticipated to continue its dominance in the coming years owing to developed healthcare infrastructure and higher healthcare spending. However, Asia Pacific region is expected to exhibit fastest growth over the forecast period due to growing geriatric population, increasing focus on cardiac care, and rising healthcare expenditure in emerging countries of China and India.
Key players operating in the ticagrelor market are C.H. Boehringer Sohn AG & Ko. KG, Pfizer Inc., Eli Lilly and Company, AstraZeneca plc, Natco Pharma Limited, Anhui Haikang Pharmaceutical Co., Ltd., Avra Laboratories Pvt. Ltd., and Sun Pharmaceutical Industries Ltd. Generic versions of ticagrelor are also gaining significance owing to their lower cost. Major players are focused on strengthening their product portfolios and expanding presence in developing markets through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
