The Global Market for Anticoagulants is Projected to Reach US$28.5 Billion by 2024

Aging Population & Rising Demand for Novel Oral Anticoagulants to Drive the Global Anticoagulants Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Anticoagulants market. The global market for Anticoagulants is projected to reach US$28.5 billion by 2024, driven by the rapidly aging world population; rising incidence of cardiovascular diseases, and acute hip and knee complications; growing volume of surgeries performed globally; and rising popularity of novel oral anticoagulants. 

The global anticoagulants market is significantly boosted by growing aging population; rising incidence of cardiovascular diseases, and acute hip and knee complications; and increase in number of surgeries being performed globally.  The introduction of Novel Oral Anticoagulants (NOACs), which are increasingly used to treat all types of coagulant disorders, has also been a key factor driving the market for anti-coagulants.  

The leading NOAC drugs that are greatly impacting the market growth include rivaroxaban (Xarelto), apixaban (Eliquis), dabigatran (Pradaxa), and edoxaban (Savaysa). FDA’s approval of Portola’s betrixaban (Bevyxxa) added a fifth drug to the NOAC race. While Xarelto and Eliquis are the leading anti-coagulants, the demand for Pradaxa is also expected to increase due to the recent approval of NOAC-first reversal agent, Praxbind, in 2015. The US FDA is also in the midst of approving AndexXa (Andexanet alfa), developed by Portola Pharmaceuticals, as a reversal agent or antidote for Xarelto and Eliquis’ bleeding side-effects. These reversal agents are expected to overcome the adverse effects of bleeding associated with the use of NOACs, and strengthen the demand for the drugs. Another challenge impacting the novel oral anti-coagulants market is the impending patent expiries of several NOACs, including Pradaxa, Eliquis, and Xarelto starting from 2018. Nevertheless, efforts by manufacturers, such as agreement with Mylan to hold the launch of generic Pradaxa, and the extension of Xarelto’s patent expiry, are expected to sustain the growth of NOACs. 

As stated by the new market research report on Anticoagulants, the United States represents the largest market worldwide, supported by increasing incidence of cardiac disorders, including AF and stroke, and higher awareness about anticoagulants and their therapeutic applications. Asia-Pacific ranks as the fastest growing market with a projected compounded annual growth rate of 8.2% over the analysis period. The growth in the region is supported by aging population and a parallel increase in healthcare needs. Oral anticoagulants are expected to drive future growth in the market, while injectable anticoagulants are forecast to decline over the analysis period. 

Major players in the market include Abbott India Limited, Aspen Holdings, Bayer Healthcare AG, Boehringer Ingelheim, Bristol-Myers Squibb Company, Mitsubishi Tanabe Pharma Corp., Pfizer Inc., Sanofi S.A., and Teva Pharmaceutical Industries Ltd., among others. 

The research report titled “Anticoagulants: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market trends, market issues, growth drivers, and strategic industry activity of global companies.  The report provides market estimates and projections for major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. Product types analyzed include Oral Anticoagulants and Injectable Anticoagulants [Unfractionated Heparin and Low Molecular Weight Heparin (LMWH)].

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