According to FutureWise analysis the market for anticoagulants in 2023 is US$ 32.29 billion, and is expected to reach US$ 55.52 billion by 2031 at a CAGR of 7.00% over the forecast period of 2023-2031.
Anticoagulant medicines (also known as blood thinners) are chemical agents that inhibit or diminish blood coagulation and lengthen the time it takes for blood to clot. These medications are mostly used in patients with a high risk of blood clots in illnesses such as atrial fibrillation, deep vein thrombosis, myocardial infarction, pulmonary embolism, stroke, and others. The global anticoagulants industry is expected to grow significantly during the forecast period, owing to an increase in the prevalence of venous thromboembolism (VTE) and cardiovascular disorders, increased adoption of novel oral anticoagulants (NOACs), and increased awareness of NOACs in the developing region. Furthermore, an increase in the number of obese and aged individuals, increased unmet requirements, and a surge in demand for innovative therapies all contribute to market growth. However, the greater price of NOACs and the absence of NOAC antidotes restrict market expansion. This is due to a rise in the prevalence of chronic illnesses as well as technological breakthroughs in the production of anticoagulant products. Anticoagulants are used to treat and prevent blood clots, which can block blood vessels (an artery or a vein) and cause significant consequences such as heart attack and stroke because the clot restricts the flow of blood to vital organs.
Furthermore, technical progress in the creation of anticoagulant products is projected to drive the market. According to the study "Technology Advancements in Blood Coagulation Measurements for Point-of-Care Diagnostic Testing," published in the Frontier in Biotechnology and Bioengineering, advanced technologies such as microfluidics, fluorescent microscopy, electrochemical sensing, photoacoustic detection, and micro/nano electromechanical systems (MEMS/NEMS) have been used to develop highly accurate, robust, and cost-effective anticoagulant products.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Anticoagulants Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Anticoagulants Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.