(MENAFN- GlobeNewsWire - Nasdaq) The global antiplatelet market has been rapidly growing over the past few years, due to factors such as increased incidence of cardiovascular diseases, rising healthcare expenditure, surging geriatric population, health-conscious consumers, increasing research and development activities.
Dublin, Nov. 29, 2024 (GLOBE NEWSWIRE) -- The "Antiplatelet Market: Analysis By Drug Class, By Route of Administration, By Distribution Channel, By Region Size and Trends" report has been added to ResearchAndMarkets.com's offering.
The global antiplatelet market value stood at US$3.53 billion in 2023, and is expected to reach US$4.50 billion by 2029. The market is expected to grow at a CAGR of 4.22% over the projected period of 2024-2029.
The global antiplatelet market growth is driven by factors such as innovations in drug development, rising geriatric population, growing prevalence of cardiovascular diseases, and an increasing focus on preventive healthcare strategies. The growing number of individuals with a history of CVD contributes to sustained demand for antiplatelet drugs. As healthcare professionals strive to improve patient outcomes in cardiovascular care, the role of antiplatelet drugs remains pivotal in reducing the burden of thrombotic events. Moreover, growing adoption of antiplatelet drugs in emerging economies is further creating lucrative growth opportunities for the market.
Market Segmentation Analysis:
By Drug Class: The adenosine diphosphate (ADP) receptor inhibitors segment dominated the antiplatelet market in 2023, owing to well-established efficacy and safety profiles of ADP receptor inhibitors. In addition, potent antiplatelet effects make them a preferred choice for the prevention and treatment of cardiovascular diseases, driving the demand for ADP receptor inhibitors. ADP receptor inhibitors are often prescribed in conjunction with COX inhibitors for dual antiplatelet therapy, especially following percutaneous coronary interventions (PCI) or in patients with acute coronary syndrome.
By Route of Administration: Oral held the highest share in the market. The oral route of administration involves taking medications by mouth, typically in the form of tablets, capsules, liquids, or suspensions. Aspirin is one of the oldest and most widely used oral antiplatelet medications. The oral route is convenient for patients as it allows self-administration without the need for healthcare professionals or specialized equipment.
On the other hand, the development of new oral therapies has expanded the options for antiplatelet treatment and increased the demand for oral administration, thus leading to an increase in demand. The injectable segment is anticipated to register the fastest growth over the forecast period due to increasing indications and approvals by regulatory agencies and advances in drug delivery systems to increase patient compliance.
By Distribution Channel: Drug stores held the highest share of the market, as a result of easy accessibility and convenience, wide product range, reliable prescription fulfillment, patient consultation, and guidance services. These factors collectively contribute to the continued dominance of drug stores in the antiplatelet market. Drug stores are easily accessible to patients and provide convenient access to medications for patients with cardiovascular disease.
Online segment is also expected to be the fastest-growing segment in the forecasted period. Online pharmacies provide convenient access to medications for patients with cardiovascular disease, especially for those who may have limited access to nearby pharmacies. Moreover, online stores may have a wider range of medications available, that may not be readily accessible at local retail pharmacies, which contributes to market growth.
Market Dynamics:
Growth Drivers: The global antiplatelet market has been rapidly growing over the past few years, due to factors such as increased incidence of cardiovascular diseases, rising healthcare expenditure, surging geriatric population, health-conscious consumers, increasing research and development activities, etc. Increased incidence of cardiovascular diseases is a significant driver of the global antiplatelet market, as both healthcare professionals and patients are becoming more cognizant of the risks associated with cardiovascular diseases (CVD). According to CDC, about 1 in 20 adults age 20 and older have coronary artery disease (about 5%), and in 2022, 371,506 people were killed from coronary heart disease.
Antiplatelet medications lower the occurrence of cardiovascular events such as heart attacks and strokes. They have been proven to be effective at preventing platelet aggregation and reducing the formation of blood clots in clinical trials and research studies. Thus, the heightened awareness encourages individuals at risk to seek medical advice, routine screenings and early detection, leading to increased diagnoses and subsequently a greater demand for antiplatelet drugs.
Challenges: However, the global antiplatelet market growth would be negatively impacted by various challenges such as, availability of a number of alternatives to antiplatelet drugs, regulatory and safety considerations, etc. The availability of a number of alternatives to antiplatelet drugs poses a significant challenge to the antiplatelet market. Antiplatelets, like aspirin or clopidogrel, prevent blood cells called platelets from clumping together to form a clot.
Trends: The global antiplatelet market is projected to grow at a fast pace during the forecasted period, due to enhancements in drug delivery systems, combination therapies, advancements in antiplatelet drugs, etc. Enhancements in drug delivery systems present significant opportunities for the global antiplatelet market by improving the efficacy, safety, and patient compliance of antiplatelet therapies. The combination of antiplatelet and anticoagulant therapy is more effective than either treatment alone for the initial and long-term management of acute coronary syndromes in some cases. Thus, due to the growing preference of combination treatment, the demand for antiplatelet drugs is expected to increase during the forecast period.
Competitive Landscape:
The global antiplatelet market is quite fragmented with the presence large number of local players' operation in different regions. Leading companies in the market include Astrazeneca, Sanofi, Bayer, Sun Pharmaceuticals, etc. which dominate due to their product portfolios, geographic reach, market initiatives, mergers and acquisitions, and significant investments. These companies are investing heavily in research and development to introduce new drugs.
The key players of the Antiplatelet market include:
AstraZeneca Sanofi Daiichi Sankyo Bayer Sun Pharmaceutical Industries Torrent Pharmaceuticals Lupin Cipla Baxter International Takeda Pharmaceutical Glenmark Pharmaceuticals
The global industry is competitive in nature, with various large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced drugs with improved efficiency and cost-effectiveness is among a key market strategy adopted by antiplatelet manufacturers. Also, there has been increasing number of successful clinical trials obtaining regulatory approvals from agencies like the FDA or EMA, positively contributing to market expansion, and entry of new advanced drugs into the market.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Antiplatelet Market Analysis
3.2 Global Antiplatelet Market: Drug Class Analysis
3.3 Global Antiplatelet Market: Route of Administration Analysis
3.4 Global Antiplatelet Market: Distribution Channel Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Increasing Incidence of Cardiovascular Diseases
6.1.2 Rise in Research and Development Activities
6.1.3 Rising Healthcare Expenditure
6.1.4 Rising Geriatric Population
6.1.5 Health-Conscious Consumers
6.2 Challenges
6.2.1 Availability of Alternative Therapies
6.2.2 Regulatory and Safety Considerations
6.2.3 Genetic Variability in Drug Response
6.3 Market Trends
6.3.1 Enhancements in Drug Delivery Systems
6.3.2 Combination Therapies
6.3.3 Advancements in Antiplatelet Drugs
7. Competitive Landscape
7.1 Global Antiplatelet Market: Competitive Landscape
8. Company Profiles
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