Antithrombotic Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Antithrombotic Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Antithrombotic Drugs Market is projected to register a CAGR of 7.5% during the forecast period (2022 – 2027).

The COVID-19 pandemic has imposed a high burden on the healthcare industry, increasing its focus on providing better healthcare facilities, monitoring devices, services, and teleconsultation. For instance, according to the World Health Organization, 2020, more than half (53%) of the countries surveyed have partially or completely disrupted services for hypertension treatment and 31% for cardiovascular emergencies. According to the World Health Organization, in September 2020, more than half (53%) of the countries surveyed have partially or completely disrupted services for hypertension treatment and 31% for cardiovascular emergencies. There has been an increased number of cardiovascular deaths observed in the country during the pandemic. For instance, New York experienced the largest relative increase in deaths due to ischemic heart disease (139%) and hypertensive diseases (164%) during the pandemic, as reported by the American College of Cardiology. Thus, the restrictions imposed by the government and the lack of service provided to cardiac patients the demand for antithrombotic drugs market witnessed a negative impact during the COVID-19 pandemic.

Certain factors that are propelling the growth of the market are the increase in the prevalence of cardiac and hereditary diseases and the growing demand for novel oral anticoagulants coupled with the aging population.

The rising burden of cardiac and hereditary disease is the major factor driving the demand for the antithrombotic drugs market. For instance, according to an article published by the Cureus Journal of Medical Science, in July 2020, it has been observed that ischemic heart disease (IHD) is a leading cause of death worldwide, affecting around 126 million individuals (1,655 per 100,000) globally, which accounts for 1.72% of the world’s population. Additionally, as per an article titled “Effect of COVID-19 on the Cardiothoracic and Vascular Surgery Procedures Mix at a Tertiary Care Hospital” published in January 2022, the South Asian nations of India, Pakistan, Bangladesh, Sri Lanka, and Nepal are home to most the world's cardiovascular diseases cases. The prevalence of coronary heart disease (CHD) is highest in Pakistan, where 30%–40% of all fatalities are caused by CVD. This increase in cardiovascular disease across the globe increases the demand for antithrombotic drugs, thereby propelling market growth.

In addition, the increasing incidences and prevalence of diabetes mellitus, and obesity among the population are also contributing to the demand for antithrombotic drugs as these patients are more prone to atherosclerotic cardiovascular events. In such cases, antiplatelet drugs are the secondary prevention method that reduces the risk of atherosclerotic cardiovascular events and their adverse prognostic consequences. For instance, according to the 2022 statistics published by the International Diabetes Federation in the 10th edition of 2021, in Germany, 6,199.9 thousand people are living with diabetes, in 2021. Thus, inceasing number of people living with diabetes are at high risk of developing cardiovascular diseases, which is expected to increase the demand for antithombotic drugs, thereby propelling the market growth.

However, the stringent regulatory policies, high cost and side effects of antithrombotic drugs are likely to restrain the market growth over the forecast period.

Key Market TrendsAnticoagulants Segment Expects to Register a High CAGR During the Forecast Period

Anticoagulants also called blood-thinning drugs, are used to treat and prevent blood clots which can block blood vessels (an artery or a vein) that can lead to serious complications as the clot disrupts the flow of blood to important organs and can result in heart attack and stroke. These drugs work by interrupting the process involved in the formation of blood clots. Some of the commonly prescribed anticoagulant drugs are warfarin, Xarelto, Pradaxa, Eliquis, and Lixiana.

The anticoagulants segment holds a significant market share in the antithrombotic drugs market and is anticipated to show a similar trend over the forecast period owing to the incidence of chronic diseases, technological advances in the development of anticoagulants products, and the growing adoption of novel oral anticoagulants (NOACs) in developing countries. For instance, according to the data published by the Centers for Disease Control and Prevention (CDC), in May 2021, approximately 900,000 people (1 to 2 per 1,000 population) are affected by deep vein thrombosis, each year, in the United States. Also, according to the British Heart Foundation England Factsheet, published in January 2022, about 6.4 million people are living with cardiovascular diseases in England. Also, as per the British Heart Foundation 2020 fact sheet, around 7.4 million people are living with heart and circulatory diseases in the United Kingdom. Similarly, as per 2022 statistics published by the Centers for Disease Control and Prevention (CDC), 12.1 million people in the United States are expected to have atrial fibrillation by 2030. The rising number of people living with circulatory diseases is expected to increase the demand for anticoagulant drugs for preventing thrombotic events in patients, which in turn is anticipated to increase the segment growth.

Furthermore, the rising product launches and approvals are expected to contribute to the market growth over the forecast period. For instance, in June 2021, the United States Food and Drug Administration approved Boehringer Ingelheim's dabigatran etexilate (Pradaxa) anticoagulant oral pellets as the first oral anticoagulant to treat children aged 3 months to less than 12 years old with venous thromboembolism. Similarly, in December 2020, Natco Pharma launched a rivaroxaban molecule under the brand name RPIGAT, an anticoagulant medication used to treat and prevent blood clots, in India.

Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.

North America Dominates the Market and Expects to do Same During the Forecast Period

North America is expected to account for a major share of the antithrombotic drug market over the forecast period, owing to the increasing prevalence of cardiovascular diseases and hereditary diseases, the presence of well-established healthcare infrastructure, and the growing healthcare expenditure.

The increasing number of cardiovascular diseases such as stroke, hypertension, atrial fibrillation, and hereditary diseases among the population is the major factor driving the market growth. For instance, according to the 2021 statistics published by the American Heart Association, the prevalence rate of heart failure in the United States was 6 million, in 2021, which was 1.8% of its total population. In addition, as per the same source, the prevalence of heart failure in the Canadian population was between 1.5% to 1.9% in 2021. In 2020, about 500,000 open heart surgeries are carried out in the year. Therefore, the increasing requirement for cardiac surgeries requires antithrombotic therapy which ultimately increases the demand for antithrombotic drugs and is anticipated to accelerate the market growth over the forecast period.

Additionally, the growing population suffering from obesity and diabetes is also contributing to the market growth. For instance, according to 2022 statistics published by the International Diabetes Federation, in the 10th edition of 2021, 2,974.0 thousand people were living with diabetes in 2021 in Canada. In addition, as per the same source, this number is projected to reach 3,288.2 thousand by 2030 and 3,468.5 thousand by 2045. Therefore, high blood sugar caused by diabetes can damage the nerves that control the heart and blood vessels, leading to a variety of cardiovascular diseases like coronary artery disease and stroke, which can narrow the arteries and necessitate coronary artery bypass grafting, which further increases the demand for antiplatelet drugs, thereby fueling the market growth.

Furthermore, the rising geriatric population is expected to increase the market growth over the forecast period, as they are more prone to develop cardiovascular diseases. For instance, according to the 2022 statistics published by the United Nations Population Fund, in the United States, a large proportion of the living population is aged 15-64 and accounts for 65% in 2022. In addition, as per the same source, 17% of the population is aged 65 years and above in 2022.

Moreover, the rising company’s focus on developing drugs for treating patients with thrombosis is expected to increase the market growth over the forecast period. For instance, in December 2021, the United States Food and Drug Administration approved Janssen Pharmaceutical’s XARELTO (rivaroxaban), an oral anticoagulant, for two pediatric indications, for the prevention (prophylaxis) of deep vein thrombosis (DVT) which may lead to a pulmonary embolism (PE) in people undergoing knee or hip replacement surgery. Also, in June 2020, the United States Food and Drug Administration approved AstraZeneca’s Brilinta (ticagrelor), an oral, reversible, P2Y12 receptor antagonist that inhibits platelet activation, to decrease the risk of a first heart attack or stroke in high-risk patients suffering from coronary artery disease (CAD).

Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.

Competitive Landscape

The antithrombotic drugs market is highly competitive with the presence of a large number of local or regional players. The companies are focusing on adopting various business strategies such as drug development, product launches, and geographic expansions. Some of the key players operating in the market include Bristol-Myers Squibb Company, AstraZeneca plc, Eli Lilly and Company, C.H. Boehringer Sohn AG & Ko. KG and Aspen Holdings among the others

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