Clot Bursting Drugs Market Size Projected to Generate a Revenue of $60,009.20 Million by 2032Download Sample Reports Overview
The Global Clot Bursting Drugs Market Size is predicted to be valued at $60,009.20 million by 2032, surging from $28,616.40 million in 2022, at a CAGR of 8.2%.
Impact Analysis of COVID-19 on the Clot Bursting Drugs Market
The global supply chain for pharmaceuticals experienced disruptions during the pandemic, impacting the availability and distribution of various medications, including clot bursting drugs. Factors such as manufacturing challenges, transportation restrictions, and increase in demand for critical care medications have affected the supply of clot bursting drugs in certain regions. Fear of contracting COVID-19 and lockdown measures implemented in many countries led to a significant decrease in patients seeking medical care, even for urgent conditions. This reluctance to seek medical attention resulted in underdiagnosis and undertreatment of thrombotic disorders, including reduced utilization of clot bursting drugs.
During the pandemic, healthcare systems focused on handling COVID-19 cases, resulting in a shift in treatment priorities. Resources and attention were focused on treating and limiting the spread of the virus, which had an impact on the use of clot buster medications for cardiovascular problems.
Global Clot Busting Drugs Market Analysis
The prevalence of cardiovascular diseases including heart attacks and strokes is predicted to increase demand for clot-busting drugs. The increasing frequency of strokes necessitates a quick response, and clot buster medications can help by dissolving blood clots collecting in veins, lowering blood pressure. Strokes are increasing the death rate in the population, which is driving demand for clot busting drugs. Furthermore, the rising risk of ischemic stroke in the global population is expected to boost the clot busting drugs market growth during the forecast period.
However, strict laws imposed by various countries, higher NOAC prices, and a lack of NOAC antidotes impede the growth of the clot busting drugs market. Furthermore, the danger of adverse effects and complications associated with the use of oral anticoagulants is also expected to hamper the demand for clot busting drugs. All these are the major factors projected to hinder the market size during the forecast years.
The global clot busting drugs market share is expected to grow significantly during the forecast period, owing to rising rates of venous thromboembolism (VTE) and cardiovascular disorders, increasing use of novel oral anticoagulants (NOACs), and rising awareness of NOACs in developing countries. Furthermore, the rise in obesity and elderly population, as well as the increase in unmet requirements and surge in demand for breakthrough therapies, all contribute to the market expansion. In addition, increased R&D expenditure in the pharmaceutical sector, as well as the release of novel oral anticoagulant medicines, are expected to propel the expansion of this market in the upcoming years.
Global Clot Busting Drugs Market, Segmentation
The clot busting drugs market is segmented on the basis of product, indication, route of administration, distribution channel, and region.
The product segment is classified into thrombolytic drugs, anti-platelet drugs, anticoagulants, and others. Among these, the thrombolytic drugs sub-segment is anticipated to be the fastest growing during the forecast period. Thrombolytic therapy involves the use of medications to dissolve or break up blood clots. A blood clot may obstruct a cardiac vessel. A significant clot is immediately dissolved with thrombolytics. This aids in resuming blood flow to the heart and guards against heart muscle damage. Thrombolytics can halt a heart attack before it becomes worse or becomes fatal. In addition, thrombolysis increases blood flow, which reduces the harm that blood clots does to the body's tissues and organs. Healthcare professionals may use thrombolytic therapy as an emergency treatment if there are sudden impediments to normal blood flow, such as a heart attack, stroke, or blood clots in the lungs (pulmonary embolism).
The indication segment is further classified into pulmonary embolism, deep vein thrombosis, atrial fibrillation, and others. Among these, the atrial fibrillation sub-segment is anticipated to be the fastest growing during the forecast period. A common cardiac rhythm disease known as atrial fibrillation (AF) is characterized by irregular and frequently fast heartbeats. A stroke or other severe consequence such as blood clot formation in the heart can result from AF. Patients with AF are frequently given anticoagulant medicines to reduce this risk. The anticoagulant drugs industry has expanded dramatically in recent years due to the rising prevalence of illnesses like atrial fibrillation. The aging population, better AF detection and diagnosis, and improvements in anticoagulant treatments are the main factors driving the segment growth.
Route of Administration:
The route of administration segment is further classified into oral and injectable. Among these, the injectable sub-segment is predicted to have the fastest growth during the forecast period. The main factors propelling the expansion of this segment are the increase in usage of biological pharmaceuticals, the prevalence of chronic diseases, the rise in accidents, and the advantages of injectables. These problems have increased the need for equipment like safety syringes, prefilled syringes, and auto-injectors.
The distribution channel segment is further classified into hospital pharmacy, online pharmacy, and retail pharmacy. Among these, the hospital pharmacy sub-segment is predicted to have the fastest growth during the forecast period. Hospital pharmacies are critical in terms of providing and dispensing pharmaceuticals, especially clot-busting treatments. Pharmaceutical corporations and regulatory bodies normally handle the development, manufacturing, and marketing of pharmaceutical goods, including clot-busting medicines. The rising prevalence of chronic diseases, patient compliance, and the extensive and easy availability of a wide range of items within hospital surroundings all contribute to the segment growth.
The clot busting drugs market analysis in Europe is projected to show the fastest growth during the forecast period. In Europe, cardiovascular disorders, such as heart attacks and strokes, pose serious health risks. These disorders affect a sizable portion of the population in the region, which raises the demand for clot-busting medications to manage and treat such situations. High blood pressure can lead to fatal consequences such as cardiac arrhythmias, renal failure, a stroke, or a heart attack. With an increasing number of drug makers for disorders such as stroke and an expanding pipeline of clot busting pharmaceuticals, the regional clot busting drugs market is predicted to rise significantly during the forecast period.
Key Players in the Global Clot Busting Drugs Market
Some of the leading clot bursting drugs market players are
- Pfizer Inc.
- Johnson & Johnson Services Inc
- Dr. Reddy’s Laboratories
- Bayer AG
- Boehringer Ingelheim Gmbh
- Genentech Inc.
- Eli Lilly and Company
- Sun Pharmaceutical Industries Ltd.
- Merck & Co.