Ticagrelor Market Report Overview
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The global ticagrelor market size was USD 1123 million in 2021 and is expected to reach USD 1904.17 million by 2031, exhibiting a CAGR of 5.1% during the forecast period.
Ticagrelor is a medication commonly used to prevent blood clots in individuals with acute coronary syndrome (ACS) or a history of heart attack. It belongs to the class of drugs known as P2Y12 inhibitors. Ticagrelor works by inhibiting platelet activation and aggregation, which reduces the risk of clot formation in the blood vessels. Unlike other P2Y12 inhibitors, ticagrelor has the advantage of reversible binding, allowing for a quicker recovery of platelet function once the drug is discontinued. It is typically administered orally and is known to have a rapid onset of action. However, ticagrelor may also carry certain side effects, such as bleeding, shortness of breath, and irregular heart rhythms, which should be monitored closely during treatment.
The ticagrelor market size is experiencing growth due to various factors contributing to an increasing demand for this medication. One significant factor is the rising incidence of acute coronary syndrome (ACS) and heart-related conditions worldwide. As the prevalence of these conditions continues to rise, more individuals require effective antithrombotic therapy like ticagrelor to prevent blood clot formation and subsequent complications. Additionally, advancements in healthcare infrastructure and increased awareness among physicians and patients about the benefits of ticagrelor have further fueled its demand. Furthermore, ongoing clinical research and studies exploring new indications and potential benefits of ticagrelor are expanding its market reach and driving its growth in the pharmaceutical industry.
COVID-19 Impact: The Pandemic Affected International Supply Chains And Led To Shortages Of Several Drugs, Notably Ticagrelor
The COVID-19 pandemic has been unprecedented and staggering, with ticagrelor market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
The COVID-19 pandemic has had a significant impact on the market for ticagrelor and other pharmaceutical products. Firstly, the pandemic led to a surge in COVID-19 cases, resulting in a strain on healthcare systems worldwide. This diverted attention and resources towards treating COVID-19 patients, potentially causing delays in the diagnosis and treatment of other conditions, including acute coronary syndrome. As a result, the demand for ticagrelor and other cardiovascular medications may have been affected during the pandemic. Moreover, the pandemic also disrupted global supply chains and caused shortages in the availability of certain medications, including ticagrelor. Manufacturing and distribution challenges, lockdown measures, and travel restrictions further hindered the smooth flow of pharmaceutical products, potentially impacting the market for ticagrelor. Furthermore, the economic impact of the pandemic, such as job losses and financial uncertainties, may have affected patients' ability to access healthcare and afford prescribed medications, including ticagrelor.
Latest Trends
"A Noteworthy Development In The Market For Antithrombotic Drugs Like Ticagrelor Is The Appearance Of Innovative Formulations And Delivery Methods"
One notable trend in the market for antithrombotic medications like ticagrelor is the emergence of novel formulations and delivery technologies. Pharmaceutical companies are focusing on developing new products that offer improved patient convenience and compliance. For example, there has been a rise in the development of extended-release formulations of ticagrelor, allowing for once-daily dosing instead of the traditional twice-daily dosing. This enhances patient adherence to the medication regimen and simplifies treatment.
In terms of leading players, major pharmaceutical companies are actively engaged in research and development efforts to enhance their offerings in the antithrombotic market. They are investing in clinical trials to explore new indications and expand the use of ticagrelor in different patient populations. Additionally, these companies are leveraging their expertise and resources to optimize drug delivery systems, such as exploring novel drug delivery methods like transdermal patches or subcutaneous injections, to improve the efficacy and convenience of ticagrelor and similar medications.
Ticagrelor Market Segmentation
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- By type
Depending on ticagrelor market given are types: 90 mg Tablet, 60 mg Tablet. The 90 mg Tablet type will capture the maximum market share through 2028.
- By Application
The market is divided into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies based on application. The global ticagrelor market players in cover segment like Hospital Pharmacies will dominate the market share during 2022-2028.
Driving Factors
"The Rising Frequency Of Cardiovascular Disorders Worldwide Is One Element Fueling The Ticagrelor Market's Expansion"
One driving factor behind the ticagrelor market growth is the increasing prevalence of cardiovascular diseases globally. As the incidence of conditions such as acute coronary syndrome, myocardial infarction, and stroke continues to rise, there is a greater need for effective antithrombotic therapy. Ticagrelor, with its potent antiplatelet properties, has proven to be a valuable medication in preventing blood clot formation and reducing the risk of cardiovascular events. Additionally, the growing awareness among physicians and patients about the benefits of ticagrelor in improving outcomes and reducing mortality further contributes to its market growth. The rising demand for ticagrelor is driven by the urgent need to address the burden of cardiovascular diseases and improve patient care in the face of this global health challenge.
"The Growing Use Of Evidence-Based Medicine And Treatment Recommendations Is Another Factor Boosting The Market For Ticagrelor"
Another driving factor behind the market growth for ticagrelor is the increasing adoption of evidence-based medicine and treatment guidelines. Medical societies and organizations, such as the American Heart Association and the European Society of Cardiology, have recommended the use of ticagrelor as a first-line therapy in the management of acute coronary syndrome. These treatment guidelines provide healthcare professionals with clear recommendations, promoting the widespread use of ticagrelor in clinical practice. As healthcare providers align their treatment strategies with these guidelines, the demand for ticagrelor rises significantly. Moreover, the robust clinical evidence supporting the efficacy and safety of ticagrelor, derived from large-scale clinical trials, reinforces the confidence of physicians in prescribing ticagrelor, further driving its market growth. The growing acceptance and incorporation of evidence-based medicine contribute to the expanding market for ticagrelor.
Restraining Factors
"The Possibility For Bleeding Issues Associated With Its Usage Is One Reason Limiting The Expansion Of The Ticagrelor Market And Ticagrelor Demand"
One restraining factor affecting the ticagrelor market growth and demand for ticagrelor is the potential for bleeding complications associated with its use. As an antithrombotic medication, ticagrelor carries a risk of increased bleeding, which can be a concern for both healthcare professionals and patients. This risk may lead to cautious prescribing practices, especially in individuals with a higher bleeding risk, such as those undergoing invasive procedures or with a history of bleeding disorders. Furthermore, the potential for bleeding complications may also contribute to patient non-compliance or discontinuation of the medication, which can impact the overall demand for ticagrelor. Close monitoring, risk assessment, and patient education are crucial in addressing this restraining factor and optimizing the use of ticagrelor.
Ticagrelor Market Regional Insights
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"North America Is Anticipated To Continue Dominating The Market Due To Pharmaceutical Firms' Spending In R&D Efforts"
North America is considered the leading region in the market for ticagrelor. The region's dominance can be attributed to several factors. Firstly, North America has a high prevalence of cardiovascular diseases, including acute coronary syndrome, contributing to a significant demand for antithrombotic medications like ticagrelor. Secondly, the region has a well-established healthcare infrastructure and advanced medical research facilities, facilitating clinical trials and the introduction of new therapies. Additionally, healthcare providers in North America often adhere to evidence-based treatment guidelines that recommend the use of ticagrelor. The region's strong market position is also supported by the presence of major pharmaceutical companies and their investments in research and development activities. Overall, North America is expected to continue leading the market for ticagrelor in terms of market share and growth rate.
Europe emerges as the second-leading region in the ticagrelor market share. Europe's significant market share can be attributed to various factors. The region has a high prevalence of cardiovascular diseases, including acute coronary syndrome, which drives the demand for effective antithrombotic medications like ticagrelor. European countries also have well-established healthcare systems and strong pharmaceutical regulations, facilitating access to and utilization of innovative therapies. Moreover, Europe is known for its strong clinical research capabilities, contributing to the development of clinical evidence and guidelines that endorse the use of ticagrelor. The region's robust market position is supported by a competitive landscape with key pharmaceutical companies actively operating in the European market.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Astrazeneca (U.K)
- Pfizer (U.S.)
- Bayer (Germany)
- Johnson & Johnson (U.S.)
- Merck (U.S.)
- Boehringer Ingelheim (Germany)
- Eli Lilly (U.S.)
- Sun Pharmaceutical (India)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1123 Million in 2021 |
Market Size Value By |
US$ 1904.17 Million by 2031 |
Growth Rate |
CAGR of 5.1% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the ticagrelor market expected to touch by 2031?
The global ticagrelor market size is expected to reach USD 1904.17 million by 2031.
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What CAGR is the ticagrelor market expected to exhibit by 2031?
The ticagrelor market is expected to exhibit a CAGR of 5.1% by 2031.
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Which are the driving factors of the ticagrelor market?
The driving factors of the ticagrelor market are the rising frequency of cardiovascular disorders worldwide and the growing use of evidence-based medicine and treatment recommendations.
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Which are the key players or most dominating companies functioning in the ticagrelor market?
The dominating companies in the ticagrelor market are Astrazeneca, Pfizer, Bayer, Johnson & Johnson, Merck, Boehringer Ingelheim.