Burgeoning demand for antiplatelet drugs to drive growth opportunities in the ticagrelor market

Ticagrelor Market 


The ticagrelor market is estimated to be valued at US$ 1,578.2 million in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Ticagrelor is an antiplatelet drug used to prevent heart attacks and strokes in patients with acute coronary syndrome or a history of myocardial infarction. It works by inhibiting platelet activation and aggregation to prevent clots from forming. Ticagrelor is generally prescribed after procedures like angioplasty or stent placement.


Market Dynamics:


The growth of the ticagrelor market is primarily driven by the increasing incidence of coronary artery disease globally. As per the World Health Organization, cardiovascular diseases account for over 17 million deaths annually, with coronary heart disease being the most common type. Moreover, rising geriatric population who are more susceptible to heart ailments is also contributing to the growth of the antiplatelet drug market. The market is also witnessing significant opportunities in emerging nations due to growing cases of cardiovascular disorders attributed to rapidly changing lifestyles and rising obesity rates. However, stringent regulations pertaining to drug approvals may hamper market growth during the forecast period.

Market key trends:


The ticagrelor market has been witnessing rising geriatric population globally which is increasing the risk of heart diseases thereby fuelling the market growth. According to the UN report, the number of people aged 65 years and above is expected to more than double by 2050 and outnumber children under 15 for the first time in history. Ticagrelor is an important antiplatelet drug used for treatment of acute coronary syndrome and prevention of atherothrombotic events in high-risk patients. Thus, growing aging population boosts the demand for ticagrelor. Another key trend is rising healthcare expenditure worldwide which is contributing to increased adoption of new drugs like ticagrelor for treatment of cardiovascular diseases. Additionally, growing burden of lifestyle diseases caused by changing dietary patterns and lack of physical activity are also propelling market growth.


SWOT Analysis:


Strength: Ticagrelor has strong efficacy and safety profile for treatment of acute coronary syndrome. It has demonstrated significant reduction in risk of myocardial infarction, stroke or cardiovascular death.
Weakness: Being a relatively new drug, its long term safety is not well established yet. It also has some side effects like bleeding risk which limits its usage.
Opportunity: Emerging markets offer huge untapped growth potential for ticagrelor market players. There is also scope for developing novel drug delivery systems to enhance patient compliance.
Threats: Patent expiry of ticagrelor in coming years can increase competition from generic drug makers. Stringent regulatory norms also poses challenges for market players.


Key Takeaways



The Global Ticagrelor Market Size is expected to witness high growth, exhibiting CAGR of 12.3% over the forecast period of 2023-2030, due to rising prevalence of cardiovascular diseases. The market was valued at US$ 1,145.0 million in 2017.

Regional analysis: North America is currently the largest ticagrelor market, owing to increasing healthcare spending and rising patient awareness about new effective treatments. Asia Pacific region is expected to grow at fastest pace during the forecast period due to growing geriatric population, improving access to healthcare in developing countries, and presence of many key generic drug players.

Key players: Key players operating in the ticagrelor market are C.H. Boehringer Sohn AG & Ko. KG, Pfizer Inc., Eli Lilly and Company, AstraZeneca plc, Natco Pharma Limited, Anhui Haikang Pharmaceutical Co., Ltd., Avra Laboratories Pvt. Ltd., and Sun Pharmaceutical Industries Ltd. Few players also pursue partnerships for advancing their product portfolios. For instance, Natco Pharma entered into agreement with Pfizer for manufacture and sale of ticagrelor in India.



Read More -  https://www.insightprobing.com/ticagrelor-market-analysis-share-size-and-demand-forecast/


 

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