The global clot-busting drugs market is expected to develop at an impressive rate, reaching a value of approximately US$ 28.8 billion by 2022. By the end of 2032, the market is expected to have grown at a remarkable Compound Annual Growth Rate (CAGR) of 7.3%, valued at US$ 58.4 billion. As of 2021, the injectable mode of administration is propelling the growth of the global market for clot-busting medications.
Thrombolytics, another name for clot busting medications, are essential for the treatment of heart attacks, strokes, and pulmonary embolisms, among other thrombotic conditions. In critical medical situations, these medications can reduce the likelihood of major problems and enhance patient outcomes by breaking up blood clots and reestablishing blood flow to damaged tissues.
Thrombolytic medicines, another name for clot-busting medications, are vital for treating cardiovascular conditions such as heart attacks and strokes. The global market for clot-busting medications is growing quickly due to developments in biological and molecular customisation as well as the growing need for prophylactic treatments.
Because consumers aren’t receiving clot busting drugs as desired due to ignorance and the adverse effects of the treatments, companies are developing new clot busting medications with reduced side effects at inexpensive costs. This is expected to significantly boost the acceptance and application of clot-busting drugs. Growing product launches and approvals are expected to drive market expansion even more over the projected period.
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Key Takeaways from Market Study
- Anticoagulants are the leading segment as a product, and hold approximately 36.7% market share in 2021, due to the rise in chronic diseases, the development of anticoagulant medicines has become more molecularly and biologically advanced, and emerging nations are increasingly using novel oral anticoagulants.
- Pulmonary Embolism are the leading segment by indication, and held about 31.2% market share in 2021, owing to the increasing number of cancer patients and patients who have a family history of cardiovascular issues.
- Injectable category is the leading segment in route of administration of drugs by holding more than half of the global market share owed to growing need for tools like safety syringes, prefilled syringes, and auto-injectors for the prevention of needle stick injuries.
- Hospital Pharmacy is the leading distribution channel as of 2021, withholding about one third of the global market share by value due to wide range of product availability, convenience and patients’ reliance on hospitals for treatments.
- By region, North America is leading in the global clot busting drugs market with 32.4% of the revenue share on 2021 and is expected to continue to do so with a projected CAGR rate of 8.0% during the forecasted years.
“Rising initiatives to promote health benefits of clot busting drugs, as well as the increasing awareness about the prevention of heart attacks and strokes is set to propel the sales of clot busting drugs devices across the globe,” says an analyst of Future Market Insights.
Market Competition
The market for clot busting drugs is quite competitive due to the presence of numerous local or regional players. The companies are concentrating on implementing different business strategies, such as product launches, drug development, and geographic expansions. For Instance:
- In Dec 2021, Janssen Pharmaceutical received U.S. FDA approval for its oral anticoagulant called XARELTO (rivaroxaban). The drug was approved for 2 indications for pediatric category which includes prophylaxis of DVT or deep vein thrombosis resulting in pulmonary embolism.
- AstraZeneca’s Brilinta (ticagrelor) received FDA approval for its P2Y12 receptor antagonist, an oral, reversible drug that prevents platelet activation, in June 2020 to lower the risk of a stroke or a first heart attack in patients with high-risk of coronary artery disease (CAD).
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Key Segments Covered in Clot Busting Drugs Industry Research
By Product:
- Thrombolytic Drugs
- Anti-Platelet Drugs
- Anticoagulants
- Others
By Indication:
- Pulmonary Embolism
- Deep Vein Thrombosis
- Atrial Fibrillation
- Others
By Route of Administration:
- Oral
- Injectable
By Distribution Channel:
- Hospital Pharmacy
- Drug Store
- Online Pharmacy
- Retail Pharmacy
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle-East and Africa (MEA)
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