The antiplatelet drugs market has grown significantly over the recent past owing to the increasing prevalence of cardiovascular diseases such as coronary artery disease, heart attack and stroke. Antiplatelet drugs are an important component of secondary prevention strategies for managing cardiovascular risk. Some key antiplatelet drugs available in the market are clopidogrel, aspirin, prasugrel, ticagrelor and ticlopidine. Antiplatelet drugs work by inhibiting platelet aggregation and reducing the risk of blood clots. With rising geriatric population and changing lifestyle behaviors leading to increased incidence of conditions like obesity and diabetes, the need for antiplatelet drugs is growing substantially.
Key Takeaways
Key players operating in the antiplatelet drugs 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. Major players are focused on new product development and approval to strengthen their market position. For instance, in 2020, Dr. Reddy's Laboratories received approval from the USFDA for generic antiplatelet drug Ticagrelor.
The rising geriatric population suffering from cardiovascular diseases worldwide presents lucrative opportunities for players in the antiplatelet drugs market. According to the WHO, cardiovascular diseases are the leading cause of death globally, taking an estimated 17.9 million lives each year. This growing disease burden is expected to drive demand for antiplatelet drugs over the forecast period.
Key players are expanding their geographical presence through acquisitions and partnerships with local players. For example, in 2019, Shandong Xinhua Pharmaceutical acquired 40% of the equity stake of Shandong Lukang Pharmaceutical, a leading Chinese pharmaceutical company, to expand its product portfolio in antiplatelet and anticoagulant drugs.
Market Drivers
Increasing prevalence of cardiovascular diseases is a major factor driving the growth of the Antiplatelet Drugs Market Demand. Rising geriatric population, growing burden of obesity and diabetes, changing lifestyle behaviors have all contributed to the rise of cardiovascular disorders. According to the WHO, cardiovascular diseases are the leading global cause of mortality.
Strong product pipeline is also fueling market growth. Leading players are focusing on developing novel therapy areas, formulations and drug delivery systems to gain a competitive edge. For example, AstraZeneca’s Brilinta offers advantages over existing antiplatelet drugs.
Market Restraints
Side effects associated with antiplatelet drugs such as excessive bleeding risk limit their usage in certain patients. Antiplatelet drugs can cause bruising, nosebleeds and bleeding gums and contraindicated for those with active bleeding conditions. Physicians often hesitate to prescribe them to the elderly due to increased bleeding risks. Stringent regulatory framework also adds to development and commercialization costs of new molecules.
Segment Analysis
The antiplatelet drugs market is dominated by the aspirin sub segment which holds around 35% of the total market share. Aspirin is considered as the first line treatment option for preventing platelet aggregation and is widely used by geriatric patients suffering from cardiovascular diseases. Its affordability, easy availability and proven efficacy over decades makes aspirin the preferred antiplatelet drug across various regions. Clopidogrel sub segment holds the second largest share and works by selectively inhibiting the binding of adenosine diphosphate to its platelet receptor. It is prescribed for patients who show intolerance to aspirin or suffer from conditions where aspirin use is contraindicated like stomach ulcers. Other important sub segments include prasugrel, ticagrelor and cangrelor which work through different mechanisms of action and are indicated for more severe cases or post stent implantation.
Global Analysis
The Europe region dominates the global antiplatelet drugs market with a share of over 35% owing to rising burden of cardiovascular diseases, favourable reimbursement policies, product innovations and growing focus on preventive care. Availability of sophisticated healthcare infrastructure and presence of major market participants further supplements market growth in Europe. North America holds the second largest share and growth is fuelled by increase in elderly population, rising healthcare spending and presence of major pharmaceutical companies. Asia Pacific region is poised to showcase highest growth during the forecast period with a CAGR of around 15% mainly due to rapidly developing healthcare infrastructure, growing medical needs of expanding middle class population, shift towards branded pharmaceuticals and rising incomes in countries like India, China and Japan. Latin America and Middle East & Africa also present lucrative opportunities for market participants but growth may be constrained due to affordability issues and lack of awareness in some regions.
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