The antiplatelet drugs market comprises drugs that are used to inhibit platelet activation and aggregation, thereby reducing the risk of thrombosis and reducing the chance of myocardial infarction, stroke, and cardiovascular death. Antiplatelet drugs are mainly used for prevention and treatment of arterial thromboembolic events like heart attacks and ischemic strokes. Some of the commonly used antiplatelet drugs are aspirin, clopidogrel, ticagrelor, prasugrel, and ticlopidine.
The Global antiplatelet drugs market is estimated to be valued at US$ 2674.22 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 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 demand for antiplatelet drugs is growing owing to the increasing prevalence of cardiovascular diseases across the globe. Several technological advancements like development of enhanced antiplatelet drugs with fewer side effects and higher efficacy have been witnessed in the antiplatelet drugs market.
Market Trends
One of the key trends witnessed in the Antiplatelet Drugs Market Growth is the increasing usage of novel oral antiplatelet drugs like ticagrelor and prasugrel. These drugs have shown better efficacy in reducing cardiovascular events as compared to conventional drugs like clopidogrel. Another trend is the development of biologics and novel targets for antiplatelet therapy. Biologics targeting platelet receptors like PAR-1 antagonist vorapaxar and GPVI antagonist revacept are in late stages of clinical trials.
Market Opportunities
The increasing burden of cardiovascular diseases in developing regions presents significant growth opportunities. As per the WHO, over 75% of global cardiovascular deaths occur in low and middle-income countries. Hence these regions present a huge untapped market. Also, many developed antiplatelet drugs are still under patent protection providing opportunities for market exclusivity. Developing enhanced antiplatelet drugs with lower bleeding risks and higher efficacy can further expand the market opportunities.
Impact of COVID-19 on Antiplatelet Drugs Market
The COVID-19 pandemic has significantly impacted the growth of the antiplatelet drugs market globally. As COVID-19 attacks the respiratory system, it increases the risk of blood clots and strokes. This led to a surge in demand for antiplatelet drugs in the initial stages of the pandemic. However, during lockdowns imposed worldwide, the supply chain disruptions hindered the steady availability of these drugs. The restrictions on travel and transportation made it difficult for pharmaceutical companies to transport raw materials and finished drugs. This caused shortages of some essential antiplatelet drugs in many countries.
With restrictions now being lifted globally post widespread vaccination programs, the supply chain issues have been resolved. The market is gradually recovering from the short term shocks of the pandemic. However, the fear of COVID-19 induced strokes and blood clots continues to drive the demand for antiplatelet drugs. The pandemic has also accelerated the shift towards telemedicine and online consultations. Many patients now choose to obtain prescription refills and consult doctors through virtual platforms. This trends is benefiting the antiplatelet market in the long run. Overall, while the pandemic posed initial challenges, investments in digital infrastructure and streamlining of supply chains are expected to aid strong market growth in the coming years.
Geographical Regions with Highest Market Concentration
North America dominates the global antiplatelet drugs market, accounting for over 40% of the total market value as of 2024. This is attributed to the high prevalence of cardiovascular diseases in the US and Canada. According to the CDC, heart disease is the leading cause of death in the US, killing over 600,000 Americans each year. Additionally, advanced healthcare infrastructure and widespread medical insurance coverage in the region ensures high patient access to antiplatelet drugs.
Asia Pacific is projected to be the fastest growing regional market during the forecast period from 2024 to 2031. Countries like China, India and Japan are witnessing rapid economic growth as well as aging populations. This is expected to significantly drive the demand for antiplatelet drugs in Asia Pacific as cardiovascular risk increases with age. Increasing investments by leading global pharmaceutical companies in the region will also boost market expansion.
Geographical Region with Fastest Market Growth
Asia Pacific is poised to rise as the fastest growing regional market for antiplatelet drugs globally during the forecast period. This is attributed to rising geriatric population, growing prevalence of target diseases like myocardial infarction and strokes, and improving access to healthcare across developing Asian countries.
China currently dominates the Asia Pacific market, accounting for over 30% of regional revenues. However, other Southeast Asian countries like India, Indonesia, Philippines, Vietnam and Malaysia are projected to witness exponential growth rates exceeding 15% annually between 2024 and 2031. This can be accredited to extensive healthcare reforms, increasing investments in medical infrastructure and surge in medical tourism in these nations. Additionally, with presence of leading global drug makers and patent expiries of blockbuster drugs, the Asia Pacific antiplatelet drugs market is well-placed to outpace other regions in terms of value growth in the coming years.
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