The global anticoagulants market is estimated to project a CAGR of 8.42% during the forecast period of 2021 to 2028. The key market growth drivers include, the surging approval of novel oral anticoagulants (NOAC), technical advancements, and the surging incidence of chronic diseases.
Anticoagulants or blood thinners, entail chemical substances that minimize or prevent blood coagulation, thereby prolonging the clotting period. Typically, a blood clot is a seal created by the blood to stop bleeding from wounds, and anticoagulants are medicines that aid the prevention of blood clots. They are prescribed to patients with a high risk of forming clots, in order to reduce the chances of developing critical ailments, such as heart attacks and strokes.
Chronic conditions like atrial fibrillation, pulmonary embolism, neurological ailments, deep vein thrombosis, and the rising number of surgical procedures cause complications such as, blood clotting, nose bleeds, menorrhagia, and bruising during surgery. Besides, the most common chronic diseases result in clinical blood clotting, including inherited deficiencies. As per the World Health Organization (WHO), chronic diseases have continued to remain a mostly global issue, accounting for nearly 60% of all fatalities, across the world. Therefore, the rising incidence of chronic diseases has resulted in the increased use of coagulants for treating them.
The global anticoagulants market growth is assessed by analyzing the Asia Pacific, North America, Europe, and the rest of the world. North America is anticipated to harbor the largest revenue share during the forecast period, primarily owing to the high awareness regarding novel therapeutics among patients as well as health care professionals, and the easy availability of treatments. Additionally, the easy disease diagnosis, the strong presence of hospitals and diagnostic centers, and the massive target population also play a crucial role in augmenting the market growth.
The industrial rivalry is anticipated to be high among key players, especially in the process of developing new drugs. The global anticoagulant market’s pipeline products are also gradually increasing among significant biopharmaceutical enterprises, across several major nations.
Some of the leading enterprises operating in the market include, Bayer AG, Daiichi Sankyo, Abbott Laboratories, Pfizer Inc, etc.
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