The global Anticoagulant Market Growth Accelerated by Increasing Incidence of Cardiovascular Diseases

Anticoagulants are widely used medications that help prevent blood clots from forming or growing larger in the body. They work by interfering with the blood coagulation system, which is responsible for blood clotting. Some common examples of anticoagulants include warfarin, apixaban, rivaroxaban, and heparin. They are commonly prescribed to patients with conditions such as atrial fibrillation, deep vein thrombosis, pulmonary embolism, and mechanical heart valves. The growing prevalence of cardiovascular diseases and rising geriatric population has significantly driven the demand for anticoagulants over the past few years.

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 key trends:

The increasing incidence of cardiovascular diseases is one of the major trends fueling the growth of the anticoagulant market size. Cardiovascular diseases such as heart attacks, strokes, and peripheral artery disease are among the leading causes of death worldwide. According to the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2016, representing 31% of all global deaths. The growing geriatric population is another key factor augmenting the demand for anticoagulants as the risk of cardiovascular diseases increases with age. Moreover, increasing research and development activities focused on developing novel oral anticoagulants with improved safety profiles is also expected to positively impact market growth over the forecast period.

Segment Analysis

The global anticoagulant market can be segmented based on product, indication, route of administration and end user. Based on product, the market is dominated by NOACs (non-vitamin K antagonist oral anticoagulants) segment due to ease of use and less frequent monitoring requirement as compared to warfarin. Additionally, NOACs cause less bleeding and do not require regular monitoring of International Normalized Ratio (INR).

Key Takeaways:

The global anticoagulant market is expected to witness high growth during 2023-2030 period. 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.

Regionally, North America is expected to dominate the market owing to increasing prevalence of cardiovascular diseases, growing geriatric population adopting anticoagulant therapies and presence of key players. Europe also captures significant market share due to supportive government initiatives and improving reimbursement policies for anticoagulants. Asia Pacific is expected to witness fasted growth over the forecast period attributed to rising healthcare expenditure, development of healthcare infrastructure and increasing patient awareness.

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. CURT Group and B&W Trailer Hitches currently dominate the market due to their widespread distribution channels and strong brand image. Draw-Tite is also a leading player owing to its extensive product portfolio and focus on research and development to develop superior products.

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