Aging Populations Will Increase Demand in the $35,802 Million Antithrombotic Drugs Market, Reports TBRC
LONDON, April 16, 2020 /PRNewswire/ -- The aging population profile of most countries contributed to the growth of the global anti-thrombotic drugs market. During 2014-2017, the number of people globally over the age of 65 grew from below 450 million to 601 million, an increase of 33%, according to estimates based on Population Reference Bureau data. This trend is expected to continue throughout the forecast period. The percentage of seniors is expected to grow from 24% in 2012 to 40% in 2050 in Japan. The increase in the aging population has increased the patient pool of cardiovascular diseases, which is a leading cause of premature deaths. In 2013, South Asia, including India, experienced more than 1.8 million deaths due to cardiovascular diseases. This has led to increased demand for antithrombotic drugs that prevent blood clots or thrombosis, and reduce the risk of stroke or heart attack, thus significantly impacting market growth during this period.
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Thrombosis Drugs' Side Effects
The global antithrombotic drugs market reached a value of nearly $35,801.9 million in 2019. The market is expected to grow at a compound annual growth rate (CAGR) of 7.7% to nearly $44,702.6 million by 2022. Side effects are the major issue faced by thrombosis patients, and therefore doctors often try to recommend alternate therapy to their patients. This factor is expected to limit the growth of the anti-thrombotic drugs market in the forecast period. Most of the side effects of antithrombotic drugs are increased bruising, red or pink colored urine, more bleeding than normal in menstrual periods in females, pain, increased risk of pregnancy complications, and a change in body temperature. For example, warfarin can lead to fetal death if a woman is pregnant and consuming the drug.
Novel Oral Anti-coagulants (NOACs) To Prevent Thrombosis
NOACs are gaining wider acceptance and are replacing traditionally used anti-coagulants such as Warfarin and Heparin. Anti-coagulants have long been used in the prevention of thrombus formation in patients suffering with cardiovascular diseases. Use of NOACs makes it easier for patients to continue therapy post discharge as opposed to injections of Heparin and Warfarin, which require medical assistance for administration. Some of the NOACs include Pradaxa (dabigatran etexilate) from Boehringer Ingelheim, Xarelto (rivaroxaban) from Janssen, and Eliquis (apixaban) from Bristol-Myers Squibb.
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Antithrombotic Drugs Market Overview And Segments
The antithrombotic drugs market consists of sales of antithrombotic drugs by entities (organizations, sole traders and partnerships) that manufacture antithrombotic drugs which are used to prevent and treat arterial and venous thrombosis, and reduce the formation of clots. The antithrombotic drug industry includes establishments that manufacture anti-thrombotic drugs such as anticoagulants, antiplatelets and thrombolytic drugs. The antithrombotic drugs market is segmented by type into anti-coagulant drugs, anti-fibrinolytics drugs, and anti-platelet drugs. By application, it is segmented into blood clot and thromboembolic treatment drugs, hyperlipidemia treatment, prophylactic treatment, and other applications. The antithrombotic drugs market can also be segmented by drug class into heparin, apixaban, rivaroxaban, others, dabigatran, and fondaparinux, and by route of administration into oral and parenteral route. The antithrombotic drugs market is also segmented by distribution channel into general pharmacies, hospital pharmacies, and online retailers.
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