Thrombosis Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Thrombosis Drugs Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The thrombosis drugs market is expected to register a CAGR of about 9.0% over the forecast period.

The COVID-19 pandemic has put a significant strain on the healthcare sector, causing it to put more emphasis on offering improved healthcare facilities, monitoring tools, services, and teleconsultation. For example, according to the World Health Organization, 2021, services for cardiovascular crises have been interrupted partially or entirely in more than half of the nations examined. According to the study titled "Antiplatelet therapy and outcome in COVID-19: the Health Outcome Predictive Evaluation Registry" published in the British Medical Journal in December 2021, in individuals with COVID-19, antiplatelet therapy (APT) may help reduce mortality; a randomized experiment (RECOVERY) found that aspirin therapy is linked to a 1.2% absolute gain in survival. Hence, as a result of the thrombosis medication therapy employed in the COVID-19 patient to increase survival, the market was significantly influenced during COVID-19.

The market is primarily driven by the increase in the geriatric and obese population, the rising burden of cardiovascular diseases and trauma cases, and the increase in technological advancement in hematology. According to the United Nations Department of Economic and Social Affairs report titled ‘World Population Ageing 2020 Highlights,’ there were 727 million persons aged 65 years or over in the world in 2020. It is expected to become more than double and reach nearly 1.5 billion in 2050. Since the older population is prone to the disease, it is expected to generate the need for these drugs for treatment, thereby driving the market’s growth.

Additionally, the increasing burden of obesity has also changed significantly in the last one decade, globally. Both developed and emerging markets are having significant issues in controlling the associated diseases. The growing consumption of alcohol and tobacco, with overweight and obesity, adds a high risk of developing significant high blood pressure in veins for a large period of life leading to several thrombosis-related complications, thus driving this market. For instance, according to the World Health Organization Report of March 2022, globally over 1 billion individuals, including 650 million adults, 340 million teenagers, and 39 million children, were obese in 2020. This figure is still rising. Additionally, 167 million adults and children is expected to have worse health by 2025 as a result of being overweight or obese. Thus, with the increase in the obese population, the demand for thrombotic drug is expected to increase over the forecast period as obesity is a significant cause of vascular diseases. Other factors contributing to the growth of this market are increasing the burden of cardiovascular and trauma cases, and the increasing research and development expenditure in the field of hematological disorders.

However, a lack of awareness about thromboembolism and the side effect associated with thrombosis drugs may restrain the market growth over the forecast period.

Key Market TrendsDeep Vein Thrombosis (DVT) Segment is Expected to Register a Significant Growth during the Forecast Years

Deep Vein Thrombosis (DVT) is a blood clot in one of the large, deep veins that returns blood from the leg, and very rarely in the arm or heart. The Segment growth is driven by the increasing prevalence of chronic deep vein thrombosis and product launches by the key market players. In addition, increasing focus on the development of low-cost drugs and a large patient pool contribute to the growth of the thrombosis drugs market.

A study titled "Deep Vein Thrombosis" that was published in the Library of Medicine in August 2021, stated that the prevalence of DVT in lower limbs had 1 case per 1000 persons, with an annual incidence of DVT predicted to be 80 cases per 100,000 people. Additionally, as per the same source, more than 200,000 people in the United States experienced venous thrombosis every year; 50,000 of these instances are exacerbated by pulmonary embolism. Thus, the growing prevalence of deep vein thrombosis is expected to drive segment growth over the forecast period.

Furthermore, the market players are focusing on the introduction of innovative products which is further adding to the market growth. For instance, in June 2021, the United States Food and Drug Administration approved Pradaxa (dabigatran etexilate) oral pellets to treat deep vein thrombosis (DVT) and pulmonary embolism (PE) in children aged three months to under twelve.

Thus, all aforementioned factors are expected to boost the market growth over the forecast period.

North America Dominates the Market and is Expected to do the Same Over the Forecast Period

North America is expected to dominate the market owing to the prevalence of cardiovascular diseases and obesity, the upsurge in the demand for progressive treatment options, early adoption of new technologies, and an increase in the elderly population. Besides, the presence of a diverse patient pool and the increase in participation of domestic and foreign companies in the campaign in these regions is also projected to contribute to the market growth.

For instance, as per the article titled "Overweight and Obesity" by the United States Centers for Disease Control and Prevention updated in May 2022, the obesity prevalence had increased from 30.5% during 1999 -2000 to 41.9% from 2017 to March 2020 in the United States. This is likely to positively impact the market growth in the region. Additionally, a growing geriatric population that is more prone to cardiovascular diseases is expected to boost the market growth. For instance, according to America’s Health Rankings Senior Report published in 2021, the number of older adults living in the United States is significant and growing and by 2050, it is anticipated that there will be 85.7 million adults in the country who are 65 years or older. Such a high prevalence of this disease along with the aging population is likely to increase the demand for advanced therapies, thereby contributing to market growth.

Competitive Landscape

The thrombosis drugs market is consolidated and few global players are in the market. For instance, Bayer AG, Boehringer Ingelheim GmbH, Bristol-Myers Squibb, Johnson & Johnson, Sanofi, Pfizer, Inc., etc. are providing these products across the world. The key players are evolving through various strategies, such as new product launches and acquisitions, to secure their positions in the global competitive market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.