by The ticagrelor market is estimated to be valued at US$ 1,350 Mn 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 oral, reversible, direct-acting P2Y12 platelet inhibitor. It selectively binds to the P2Y12 receptor and blocks ADP-mediated activation of the receptor. Ticagrelor is an antiplatelet drug used to prevent heart attacks and other cardiovascular events in patients with acute coronary syndrome or a history of myocardial infarction. It is commonly used with aspirin therapy for preventing future complications in patients with acute coronary syndrome (heart attack or unstable angina).
Market Dynamics:
The ticagrelor market is driven by growing prevalence of cardiovascular diseases and rising usage of antiplatelet therapy. According to the American Heart Association, cardiovascular diseases account for over 800,000 deaths in the United States every year. Increasing sedentary lifestyle, changing dietary patterns, obesity and growing geriatric population are key factors driving the prevalence of cardiovascular disorders globally. Ticagrelor is increasingly prescribed as an antiplatelet drug along with aspirin for management of acute coronary syndrome and prevention of secondary cardiovascular events. Ticagrelor has shown significantly higher efficacy in reducing thrombotic complications compared to clopidogrel. Moreover, preference for ticagrelor over clopidogrel by clinical guidelines is also propelling the demand for ticagrelor drugs.
SWOT Analysis
Strength: Ticagrelor offers fast and effective platelet inhibition resulting in reduced mortality rate. It has better absorption than other drugs and comes in a convenient fixed dose tablet form. The safety and efficacy profiles of ticagrelor have been well established based on large clinical trial data.
Weakness: Ticagrelor causes more bleeding complications than clopidogrel. It also causes dyspnea in some patients which may lead to non-compliance. Being a new drug, it is more expensive than generic antiplatelet drugs.
Opportunity: The increasing prevalence of cardiovascular diseases globally presents an opportunity for growth of ticagrelor market. Emerging economies with large patient pools offer significant untapped potential. New drug delivery approaches can help address current weaknesses and expand market reach.
Threats: Patent expiration of ticagrelor in few countries allows market entry of cheaper generic versions. side effects continue to be a concern limiting wide acceptance and replacements by alternatives in development. Stringent regulatory pathways for new drug approvals delay market entry of potential substitutes.
Key Takeaways
The Global Ticagrelor Market Growth is expected to witness high, exhibiting CAGR of 12.3% over the forecast period, due to increasing incidence of acute coronary syndrome. The market was valued at US$ 1,145.0 million in 2017.
Regional analysis
North America dominates the global ticagrelor market currently owing to developed healthcare infrastructure and growing prevalence of cardiovascular diseases. Asia Pacific region is expected to grow at a highest CAGR due to rising healthcare expenditures, large patient pool and fast adoption of new drug therapies in countries like China and India.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
