50% of Anticoagulants Sales to Comprise of Factor X (NOAC/DOAC) Inhibitors until 2031: Fact.MR Study
Published : 15 Sep 2021 Industry: Healthcare
According to a recently published Fact.MR report, the global anticoagulants market is expected to reach US$ 30 Bn by 2021-end, with an expected value CAGR of 8.04% across the forthcoming decade. Furthermore, the market is expected to close in at US$ 65 Bn by the end of the 2021-2031 assessment period.
Historical performance of the market establishes that the market registered a steady CAGR of 5% from 2016 to 2020. Amidst the COVID-19 pandemic, demand for anticoagulants expanded significantly, as patients experienced high levels of post-COVID complications, majorly manifesting into cardiac anomalies.
The development of internet pharmacies is influencing the growing sales of anticoagulant medications. Online pharmacies are rapidly gaining traction in the anticoagulants market, and these channels are likely to become the normal distribution route in the future. Additionally, Novel Oral Anticoagulants (NOACs) category has a substantial market share in the anticoagulants market and is projected to exhibit a similar trend during the forecast period due to rising usage in emerging nations and the high preference for NOACs over warfarin.
Key Takeaways from Anticoagulants Market Study
- Global market for anticoagulants to surge more than 2x until 2031
- By route of administration, oral anticoagulants captured around 54% revenue in 2020
- Factor-X inhibitors (NOAC/DOAC) anticoagulants accounted for over 50% of global demand in 2019
- By distribution channel, hospitals remain primary anticoagulants disbursers, clocking 49.5% of total sales
- U.S to be an attractive market, experiencing a CAGR of 7.5% through 2031
- Japan to account for over 2 out of 5 anticoagulants sales in East Asia
- China is expected to increase at the fastest rate, registering a growth rate of 8% through 2031
“Manufacturers are capitalizing on online sales channels to fulfil growing demand for effective anticoagulant medications in underdeveloped countries, encouraging producers to seek undiscovered areas with less investment in distribution infrastructure”, says the Fact.MR Analyst
With several prominent players, the anticoagulants industry is competitive and fragmented. Players in the anticoagulants business are stepping forward to shoulder the financial burden of individuals through patient-assistance programmes as a strategy to expand anticoagulant exposure.
- For example, the Bristol-Myers Squibb Foundation provides financial assistance to patients in order for them to get medications. The programme, however, exclusively assists US citizens who are not covered by a privately or publicly traded firm.
- The PRADAXA savings card, which is provided by Boehringer Ingelheim, allows patients to purchase drugs at a discounted cost. A rise in the number of manufacturers using financial strategies is projected to boost medicine consumption throughout the forecast period.
More Insights Available
Fact.MR, in its new report, offers an unbiased analysis of the global anticoagulants market, analyzing historical demand from 2016-2020 and forecast statistics for 2021–2031.
The study reveals growth projections on the anticoagulants market on the basis of drug class (factor XA inhibitors (NOAC/DOAC), heparins, direct thrombin inhibitors and vitamin K antagonists), indication (deep vein thrombosis, pulmonary embolism, atrial fibrillation & heart attack and others), route of administration (oral and injectables) and sales channel (hospital pharmacies, retail pharmacies and online pharmacies) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant - Healthcare