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Antiplatelet Market Expected to Reach $5.8 Billion by 2032—Allied Market Research

 
Antiplatelet Market Expected to Reach $5.8 Billion by 2032—Allied Market Research
2022
Antiplatelet Market

Report Code : A10479

quote A rise in the prevalence of cardiovascular diseases, and increasing awareness about the importance of early detection and treatment of the diseases has contributed to the growth of the antiplatelet market. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Antiplatelet Market," The antiplatelet market was valued at $3.8 billion in 2022, and is estimated to reach $5.8 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.

Antiplatelet drugs are a class of medications that work to inhibit or reduce the ability of platelets (small cell fragments in the blood) to stick together and form blood clots. These medications interfere with the processes involved in platelet activation and aggregation, thereby reducing the risk of thrombosis (formation of blood clots within blood vessels). Commonly used antiplatelet drugs include aspirin, clopidogrel, ticagrelor, prasugrel, and dipyridamole. These medications are prescribed for various cardiovascular conditions, such as acute coronary syndrome, ischemic stroke, peripheral artery disease, and coronary artery stenting among others.  

Cardiovascular diseases such as coronary artery disease, heart attacks, and strokes, are a leading cause of morbidity and mortality worldwide. For instance, according to 2021 report by the National Library of Medicines, high 10-year atherosclerotic cardiovascular disease (ASCVD) risk was found in 32% men and 7.6% women, whereas lifetime risk was present in 67% and 51%, respectively, in Saudi Arabia. Thus, rise in incidence and prevalence of these diseases led to rise in the demand for effective treatments such as antiplatelet drugs thereby boosting the market growth.   

In addition, increase in awareness about the importance of early detection and treatment of cardiovascular diseases has contributed to the growth of the antiplatelet market. Governments, non-profit organizations, and pharmaceutical companies are actively involved in conducting awareness campaigns and screening initiatives to educate the public about the risk factors associated with cardiovascular diseases. As a result, more individuals are seeking medical attention and being diagnosed with these conditions, leading to an increased demand for antiplatelet drugs.  

Furthermore, the rise in aging population is a significant factor contributing to market growth. A rise in age led to increase in susceptibility to cardiovascular diseases, leading to higher demand for antiplatelet medications thereby boosting the market growth and is also the antiplatelet market trends. The availability of healthcare insurance coverage and reimbursement policies for cardiovascular diseases has further fueled market growth.  

On the basis of drug class, the market is categorized into adenosine diphosphate (ADP) receptor inhibitors, irreversible inhibitors cyclooxygenase, and others. The adenosine diphosphate (ADP) receptor inhibitors segment accounted for the largest antiplatelet market size in 2022 and is also expected to remain dominant during the forecast period, owing to its effectiveness in preventing platelet aggregation and reducing the risk of cardiovascular events. In addition, there is a rise in demand for ADP receptor inhibitors, such as clopidogrel, ticagrelor, and prasugrel, as they are commonly prescribed antiplatelet medications used in the treatment of conditions such as acute coronary syndrome, myocardial infarction, and stroke prevention.  

On the basis of the route of administration, the antiplatelet market analysis is categorized into oral and injectable. The oral segment accounted for the largest antiplatelet market size in 2022 and is also expected to remain dominant during the forecast period. This is attributed to the availability of wide variety of oral drugs, such as aspirin, which are less expensive than other route drugs and are easy to administer.  

On the basis of distribution channel, the market is categorized into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores & retail pharmacies segment occupied largest antiplatelet market share in 2022 owing to ease of accessibility of retail pharmacies and large chain of distribution networks for antiplatelets. In addition, drug stores and retail pharmacies play an important role in providing education and counseling to patients about their medications, potential side effects, and the importance of adhering to their treatment plans that further support the segment growth.  

However, the online providers segment exhibited the fastest CAGR growth during the forecast period. This is attributed to availability of wider range of antiplatelet drugs on e-commerce platform, making it easier for patients to purchase medications and access information related to their condition. In addition, the rise in popularity of online pharmacies and surge in number of users preferring online pharmacies further drive the antiplatelet market forecast.  

Region wise, North America occupied largest antiplatelet market share in 2022 and is expected to witness growth, in terms of revenue, owing to rise in prevalence of cardiovascular diseases such as myocardial infarction, stroke, coronary artery diseases, arterial thrombosis, and higher health awareness about early diagnosis and treatment. In addition, a rise in regulatory product approvals is expected to drive market growth in the region during the forecast period. In November 2020, AstraZeneca received the product approval for Brilinta (ticagrelor) in the U.S. to reduce the risk of stroke in patients with acute ischemic stroke or high-risk transient ischemic attack (TIA).  

However, Asia-Pacific is anticipated to witness notable growth, owing to surge in prevalence of cardiovascular diseases such as myocardial infraction, stroke, and coronary artery diseases and rise in awareness regarding early diagnosis and treatment for cardiovascular diseases which is expected to drive the growth of the market during the forecast period. In addition, the upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for market expansion.  

Key Findings of the Study  

  • On the basis of drug class, the adenosine diphosphate (ADP) receptor inhibitors was largest contributor to the antiplatelet industry in 2022.  
  • On the basis of route of administration, the oral segment was largest contributor to the antiplatelet industry 2022.  
  • On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022. However, the online providers segment is anticipated to grow at the highest CAGR during the forecast period.  
  • Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period. 

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quote Antiplatelet Market by Drug Class (Adenosine diphosphate (ADP) receptor inhibitors, Irreversible inhibitors cyclooxygenase, Others), by Route of Administration (Oral, Injectable), by Distribution Channel (Hospital pharmacies, Drug store and retail pharmacies, Online providers): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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