Anticoagulants Market to Discern Magnified Growth During 2020 to 2026
Thrombosis conditions have been thought to be a major cause of deaths and disabilities around the world, and anticoagulant products are key to treatment and prevention of such ailments. Some of the most commonly used types of anticoagulants include unfractionated heparin and vitamin K antagonists including warfarin.
Overall, the global anticoagulants market is projected to display a healthy rate of growth owing to a CAGR anticipated to reach ~ 8 per cent through the forecast period till 2026. The growth can be attributed to a number of factors such as increasing research and development activities, the rising numbers of online pharmacies, poor lifestyles, and the growing incidences of heart attacks, which increase the demand for anticoagulant products.
XA Inhibitors Gain Traction in North America, Asia Sticks to Heparins
The anticoagulant market within North America is expected to be largely driven by incidences of heart attacks and atrial fibrillation. Consequently, XA inhibitors have rapidly become the drug of choice for treatment and prevention in the region. This trend is supported by the growing and high rate of obesity in both the United States and Canada.
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Since obesity and heart disease are often linked together, this has increased the sales of anticoagulants in the region. In addition, the United States and Canada have easier access to cutting edge technologies and high standards of medication production, which increases the rate of growth of the regional market and the use of XA inhibitors.
On the other hand, nations in the Asia Pacific region have only started to modernize in recent years, with growing patient awareness about the importance of ideal health. In addition, government authorities in the region have been working towards guidelines needed for the use of anticoagulant drugs, and control of associated disorders, which is adding the growth of the anticoagulants market in the Asia Pacific region. However, instead of XA inhibitors, these countries are witnessing continued popularity in the demands for heparins.
Demand for Conventional Warfarin Restricts Developments
The popularity and usage of older anticoagulant drugs such as warfarin continues to stay high, particularly in developing countries, owing to affordability benefits, which can be around 3 to 4 times cheaper than the newer NOAC variants.
The wide disparity in pricing is expected to have a substantial restricting effect on the sales of advanced anticoagulant products for the entire forecast period. In addition, the newer anticoagulants are designed for long term administration, which increases costs even further, which also increases the reluctance of patients and health care professionals adopt advanced anticoagulants.
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Further, patients and professionals are increasingly becoming aware of a range of side effects from NOAC options, which include nausea, excessive bleeding, and vomiting, which although lesser than that of conventional drugs, is still limiting the prospects of sales for the foreseeable future. The use of DOAC anticoagulants is rapidly gaining traction in terms of ambulatory use and is currently accounting for around 50 per cent of all anticoagulant uses, matching the adoption of warfarin.
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