The Global Ticagrelor Market Growth Accelerated By Increasing Prevalence Of Cardiovascular Disorders

 

Ticagrelor is an antiplatelet medication used for the prevention of thrombotic events such as heart attacks and strokes. It works by inhibiting platelet activation and aggregation. Ticagrelor is prescribed to patients with a history of myocardial infarction or stroke who are at risk of forming blood clots. The medication reduces the rates of death from vascular causes, heart attack and stroke compared to clopidogrel.

The Global Ticagrelor Market Size is estimated to be valued at US$ 1481.28 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing prevalence of cardiovascular disorders such as myocardial infarction and stroke has been a major factor driving the growth of the ticagrelor market. Cardiovascular diseases (CVDs) are the leading cause of morbidity and mortality worldwide. According to estimates by the World Health Organization (WHO), CVDs account for over 17 million deaths annually, with 85% of these deaths occurring in low and middle income countries. The increasing risk factors for CVDs such as obesity, physical inactivity and unhealthy diet have further augmented the disease burden. Ticagrelor, with its superior efficacy in preventing heart attacks and strokes, has seen wider adoption for secondary prevention in high risk CVD patients. This has significantly contributed to the growth of the ticagrelor market over the forecast period.

Segment Analysis

The global ticagrelor market is dominated by the hospital pharmacy sub-segment. Hospital pharmacies account for over 40% market share owing to a large number of patients undergoing percutaneous coronary intervention (PCI) procedures in hospitals. Ticagrelor is predominantly used for treatment of acute coronary syndrome patients post PCI. As majority of these high risk cardiac procedures are performed in hospitals, it has led to higher uptake of ticagrelor through hospital pharmacies.

Key Takeaways

The global ticagrelor market is expected to witness high growth over the forecast period of 2024 to 2031. The market is estimated to rise at a CAGR of 3.0% during this period and reach a value of US$ 1481.28 Mn by 2031.

Regional analysis

North America currently dominates the ticagrelor market and is expected to continue its leading position through 2031. Higher prevalence of coronary artery disease and growing number of PCI procedures have driven ticagrelor sales in the region. Additionally, favorable reimbursement environment for novel drugs in the US and Canada is boosting market growth. Asia Pacific is anticipated to emerge as the fastest growing market during the forecast period supported by rising healthcare expenditures and increasing access to advanced cardiac care in countries like China and India.

Key players

Key players operating in the ticagrelor market are Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. These leading drug makers have strong focus on development of novel formulations to improve patient compliance. Manufacturers are also investing in expanding geographic reach through partnerships with regional pharma distributors. Intense competition exists between players to achieve higher market shares through new product launches and marketing initiatives.

Get More Insights Here: https://www.newswirestats.com/ticagrelor-market-size-share-and-growth-forecast-2023-2030/