Anticoagulants are agents that prevent or reduce coagulation of blood and thus help in preventing formation of clots in the bloodstream. Anticoagulants play an important role in reducing the risk of thrombosis or stroke. Increase in aging population and rise in lifestyle diseases such cardiovascular diseases, has led to surge in demand for anticoagulants across the globe.

The global Anticoagulant Market is estimated to be valued at US$ 36830.47 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity: Rising Prevalence of Chronic Diseases

Rise in prevalence of chronic diseases such as diabetes, cardiovascular diseases, chronic kidney disease etc. has led to increased demand for anticoagulants. According to World Health Organization, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. Prevalence of atrial fibrillation, a common heart rhythm problem, increases with age and affects over 33 million people globally. Increased risk of strokes and heart attacks in patients with atrial fibrillation has boosted demand for anticoagulants. Growing geriatric population is also leading to rise in risk of chronic diseases thereby driving the anticoagulant market growth over the forecast period.

Porter's Analysis

Threat of new entrants: Low capital requirements however established brands, regulations and economies of scale pose significant barriers.

Bargaining power of buyers: Buyers have moderate power due to presence of many brands but switching costs and need for prescriptions reduce bargaining power.

Bargaining power of suppliers: Key raw material suppliers have moderate power due to specialized inputs and capabilities however market is global with many participants.

Threat of new substitutes: Threat is low as new drug development is intensive and substitutes must demonstrate clear advantages over existing drugs.

Competitive rivalry: Intense due to many global and local players and me-too products. Market consolidating with large M&As in past years.

SWOT Analysis
Strength: Wide applications, strong R&D led new product innovation, large geographic footprint, and economies of scale.
Weakness: High manufacturing and R&D costs, IP issues, stringent regulations.
Opportunity: Emerging markets growth, new applications, collaborations for new drug delivery systems.
Threats: Price erosion, drug expiration cliff, disruption from new oral anticoagulants.

Key Takeaways

The global Anticoagulant market size is expected to witness high growth over the forecast period of 2023-2030. The global Anticoagulant Market is estimated to be valued at US$ 36830.47 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.

The market is dominated by North America and Europe owing to high awareness, stringent regulations and advanced healthcare systems. The Asia Pacific region is expected to be the fastest growing market due to rising healthcare spending, growing incidences of cardiac diseases and increasing medical tourism.

Key players operating in the Anticoagulant market are CURT Group, B&W Trailer Hitches, Reese, Draw-Tite, Andersen Hitches, Blue Ox, Pro Series, Equal-i-zer, Buyers Products, Husky Towing, Gen-Y Hitch, Torklift International, PopUp Towing, BulletProof Hitches, Weigh Safe. Regional players are focusing on developing generic drugs and novel delivery mechanisms. Partnerships for expanding geographical presence are on the rise.

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