LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global anticoagulant market to grow at a CAGR of more than 7% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global anticoagulant market for 2017-2021. The report also lists Factor Xa inhibitors, Direct thrombin inhibitors (DTIs), Heparin, and Vitamin K antagonists as the four major segments based on drug class, of which the Factor Xa inhibitors accounted for around 53% of the market share in 2016.
According to Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research, “The market is expected to witness a paradigm shift towards novel oral anticoagulants, owing to increased benefits such as rapid action, better safety, and efficacy profiles. The launch of anti-reversal agents such as PRAXBIND will further supplement the growth of NOACs.”
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Technavio healthcare and life sciences analysts highlight the following three market drivers that are contributing to the growth of the global anticoagulant market:
- Increasing demand for NOACs
- Growing prevalence of coagulation disorders
- Increase in hip and knee surgeries
Increasing demand for NOACs
The increasing adoption rates of novel oral anticoagulant (NOACs) is driving the market growth. NOACs target either thrombin or factor Xa to prevent and treat thrombosis. They show quick action and do not require continuous monitoring. They also have better safety and efficacy profiles when compared with conventional therapies such as warfarin. Hence, the adoption rate of NOACs has witnessed a significant increase, to the extent of 62% of all the anticoagulant prescriptions were being written for novel oral anticoagulant during 2010-2013.
Growing prevalence of coagulation disorders
Due to unhealthy lifestyle and lack of physical activities, people are facing cardiovascular disorders, kidney disorders, and strokes. According to the CDC 2015 report, approximately 900,000 people are affected by deep vein thrombosis (DVT) or pulmonary embolism (PE), and 60,000-100,000 individuals die of this condition every year in the US. Also, over 10% of the adults in the US, are affected with kidney diseases, which are commonly associated with thrombosis. This leads to embolus, where the clot can break free and travel through the blood vessels, obstructing the normal blood flow. This condition is treated using an anticoagulant.
“The increasing number of surgeries for various diseases increase the risk of developing DVT. Thus, the rising prevalence of these diseases propels the growth of the anticoagulant market during the forecast period,” says Sapna.
Increase in hip and knee surgeries
The increase in hip and knee replacement surgeries can also increase the risk of DVT, which is likely to drive the market. Surgeries often result in long periods of immobility, increasing the chances of developing DVT due to reduced blood flow. It is reported that over a million Americans undergo joint replacement surgeries every year. Individuals undergoing knee replacement and hip replacement surgeries have an increased likelihood of developing DVT. The increasing number of surgical procedures would increase the chances of developing thromboembolic events after surgeries grow, thus requiring treatment using anticoagulants.
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