April 18, 2024
Antiplatelet Drugs Market

Antiplatelet Drugs Market Poised to Witness High Growth Driven by Increasing Prevalence of Cardiovascular Diseases

The antiplatelet drugs market is estimated to witness robust growth over the forecast period owing to rise in cardiovascular diseases across the globe. Antiplatelet drugs help inhibit platelet aggregation and prevent blood clots from forming or growing larger at sites of vessel injury. Commonly used antiplatelet drugs include aspirin, clopidogrel, prasugrel, ticagrelor, and others. These drugs are prescribed to reduce the risk of heart attacks and strokes for patients with cardiovascular conditions such as coronary artery disease, peripheral artery disease, and cerebrovascular disease.

The global antiplatelet drugs market is estimated to be valued at US$2674.22 billion in 2024 and is expected to exhibit a CAGR of 12% over the forecast period of 2024 to 2031.

Key Takeaways

Key players operating in the antiplatelet drugs market are Chang Chun Group, Covestro AG, Dow, Hexion, Kumho P&B Chemicals Inc., LG Chem, Lihuayi Weiyuan Chemical Co. Ltd, Merck KGaA, Mitsubishi Chemical Corporation, Mitsui Chemicals Corporation., Nan Ya Plastics Industry Co. Ltd, Nantong Stars Synthetic Material Ltd, Nippon Steel Chemical & Material Co. Ltd, PTT Phenol Company Limited, SABIC, Samyang Holdings Corporation, Shanghai Sinopec Mitsui Chemicals Co. Ltd, and Sinopec Mitsubishi Chemical Polycarbonate (Beijing) Co., Ltd.

The key opportunities in the market include development of novel antiplatelet drugs with better efficacy and safety profiles to reduce side effects such as bleeding risks. Furthermore, increasing penetration in emerging markets through collaborations with regional pharmaceutical companies provides untapped potential for market players.

Global expansion of the antiplatelet drugs market is expected with pharmaceutical companies focusing on geographic expansion plans and investments towards manufacturing facilities in high growth regions. Asia Pacific region in particular presents lucrative prospects for antiplatelet drugs market players driven by rising cardiovascular disease burden and improving access to healthcare in the region.

Market Drivers

A key driver forĀ Antiplatelet Drugs Market Growth is the increasing prevalence of cardiovascular diseases globally. According to WHO estimates, cardiovascular diseases account for over 17 million deaths annually, with over 75% of these deaths occurring in low and middle income countries. Growing geriatric population also contributes to rising incidence of conditions requiring antiplatelet therapy such as atrial fibrillation, thereby positively impacting market revenues. Additionally, favorable reimbursement and healthcare insurance coverage for antiplatelet drugs in developed markets supports market expansion.

PEST Analysis

Political: The government policies and regulations play a key role in the antiplatelet drugs market. Regulations around drug pricing and intellectual property rights impact the growth of this market.

Economic: As the economy grows and healthcare expenditure increases globally, more funds are available for effective treatment of chronic diseases like cardiac disorders. This drives growth in the antiplatelet drugs market.

Social: Rising incidences of cardiovascular diseases and increasing awareness about personalized care positively influence the demand for antiplatelet drugs. Population ageing also contributes to the demand.

Technological: Continuous innovation in drug delivery systems helps design more effective antiplatelet therapies. Advancements in targeted drug delivery improve treatment outcomes and compliance. Automation in manufacturing aids mass production of such drugs.

Geographical regions of concentration

North America holds the largest share of the antiplatelet drugs market in terms of value, owing to the high prevalence of cardiovascular disorders and growing geriatric population in the US and Canada. Large healthcare expenditure and advanced healthcare infrastructure also support market growth in the region.

Fastest growing region

Asia Pacific is projected to witness the fastest growth in the antiplatelet drugs market during the forecast period due to increasing medical tourism, rising healthcare expenditure, growing heart disease burden and expanding pharmaceutical industry in India and China. Rising awareness about thrombotic disorders and improving access to healthcare contributes to market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it