Wilmington, Delaware, USA, Transparency Market Research Inc. – The report suggests that increasing geriatric population, which is more susceptible to thrombotic events, globally is likely to drive the demand for thrombosis drugs during the forecast period. North America and Europe are expected to dominate the global market thrombosis drug market owing to the rise in awareness and heightened focus of key players on the development of new drugs in the market in these regions.
Growing penetration and growing prevalence of thrombotic events in emerging markets such as Japan, Hong Kong, and Taiwan are likely to drive the Asia Pacific Thrombosis Drugs Market at a CAGR of 9.0% from 2018 to 2026 .
According to the new report, the global thrombosis drug market was valued at approximately US$20,012 million in 2017. It is expected to grow at a CAGR of over 9.5% from 2018 to 2026.
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Expansion of the generic drug industry to hinder the market
The generic drug industry has experienced significant expansion in recent years. Branded drugs of molecules such as heparin are constantly losing market share due to the availability and continuous launch of generic version of drugs. For example, recently, in January 2018, Aurobindo Pharma launched fondaparinux sodium injection, a generic version of the Arixtra brand, which is used to prevent deep vein thrombosis, after its patent expired.
Low molecular weight heparin will lose market share
The report offers a detailed segmentation of the global Thrombosis Drugs market based on drug class, indication, and distribution channel. Based on the drug class, the factor Xa inhibitor drugs segment is estimated to account for a major share of the global market by the end of the forecast period. This is due to the increase in the use of factor Xa inhibitor drugs for their benefits such that no drug monitoring is required after intake.
In addition, several studies have proven that factor Xa inhibitor drugs are effective in both deep vein thrombosis and pulmonary embolism and help reduce the rate of hospitalization after use. The low molecular weight heparin segment is expected to lose market share over the forecast period and is expected to decline from 14.7% held in 2017 to 5.9% by 2026. Patent expiration, availability of generic drugs and increased preference for oral formulation of injectable dose drugs are factors likely to restrain this segment.
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Pulmonary embolism: main indication for drugs against thrombosis
In terms of indication, the pulmonary embolism segment is expected to hold a dominant share in the global thrombosis drug market by the end of the forecast period. The segment is likely to grow at a CAGR of over 10.0% from 2018 to 2026. Most of the companies are focused on developing low-cost drugs to serve the large pool of pulmonary embolism patients across the world ; therefore, the pulmonary embolism segment is likely to account for a dominant share of the market.
For example, UK-based pharmaceutical company AstraZeneca is developing a drug candidate called Brilliant Thales for the indication of cardiovascular events. The atrial fibrillation segment accounted for more than 27.0% of the global thrombosis drug market, by value, in 2017. It is expected to grow at a substantial rate during the forecast period. The segment is expected to gain market share marginally to reach 27.8% by 2026.
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The market in North America is set to grow at a considerable rate and create additional opportunities
In terms of value, North America held a major share of the global market in 2017. This is due to the high healthcare expenditures and increased awareness about the benefits of new formulation of oral anticoagulants in the United States. Additionally, several players such as Johnson & Johnson and Exithera Pharmaceutical have increased their investment in research and development to develop advanced drugs to treat thrombosis. Thus, the presence of these players is expected to propel the North America thrombosis drugs market at a rapid pace during the forecast period.
Rising incidence of age-related chronic diseases such as cancer and neurological diseases are increasing thrombosis events in Asia-Pacific. Additionally, improving economic conditions, increasing purchasing power, and better access to healthcare services are fueling the market in Asia Pacific. Economic growth in countries like Brazil is increasing research and development activities and processing expenditures in Latin America. These factors are likely to propel the thrombosis drugs market in Latin America. It is expected to grow at a CAGR of 9.0% from 2018 to 2026.
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Bayer AG, Aspen Pharmacare Holdings Limited and Boehringer Ingelheim GmbH will dominate the market
The report also provides profiles of key players operating in the global Thrombosis Drugs Market. These include GlaxoSmithKline plc, Baxter International Inc., Johnson & Johnson, Sanofi, Bristol-Myers Squibb Company, AstraZeneca plc and Pfizer, Inc. Expanding the product portfolio through new product development or acquisition and a license agreement to develop products is a key strategy adopted by several key players. For example, in 2015, Isis Pharmaceuticals, Inc. entered into an exclusive license agreement with Bayer HealthCare to develop and commercialize ISIS-FXIRx for the prevention of thrombosis. Other key players are also adopting such strategies.
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