Antiplatelet Drugs Market

Rising Prevalence of Cardiovascular Diseases Boosts Demand for Antiplatelet Drugs Market


Antiplatelet drugs are medications that help thin the blood and prevent blood clots from forming or getting bigger. They work by preventing platelets from sticking together and building up in the bloodstream. The growing prevalence of cardiovascular diseases and conditions that increase the risk of blood clots, such as heart attacks and strokes, has boosted the demand for antiplatelet drugs globally.

The Global Antiplatelet Drugs Market is estimated to be valued at US$ 2674.22 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeways

Key players operating in the Antiplatelet Drugs market include Chang Chun Group, Covestro AG, Dow, Hexion, Kumho P&B Chemicals Inc., LG Chem, Lihuayi Weiyuan Chemical Co. Ltd, Merck KGaA, Mitsubishi Chemical Corporation, Mitsui Chemicals Corporation., Nan Ya Plastics Industry Co. Ltd, Nantong Stars Synthetic Material Ltd, Nippon Steel Chemical & Material Co. Ltd, PTT Phenol Company Limited, SABIC, Samyang Holdings Corporation, Shanghai Sinopec Mitsui Chemicals Co. Ltd, and Sinopec Mitsubishi Chemical Polycarbonate (Beijing) Co., Ltd. Stringent regulatory norms and growing awareness about cardiovascular health have propelled the demand for antiplatelet drugs. The rising healthcare expenditure in emerging economies along with the increasing use of generic antiplatelet drugs have further augmented the market growth.

The growing prevalence of cardiovascular diseases is one of the major factors driving the antiplatelet drugs market. Cardiovascular diseases (CVDs) are the number one cause of death globally, taking an estimated 17.9 million lives each year according to WHO. High blood pressure, diabetes and other risk factors have significantly contributed to the cardiovascular burden. This has increased the uptake of antiplatelet drugs like clopidogrel and ticagrelor that inhibit platelet aggregation and reduce the risk of heart attacks and strokes in high-risk CVD patients.

Expanding healthcare infrastructure and greater accessibility of healthcare services have also bolstered the antiplatelet drugs market across regions. Moreover, increasing generic penetration, growing focus on preventive healthcare, rise of medical tourism and emergence of new advanced antiplatelet drugs with novel delivery mechanisms are expected to open new avenues for antiplatelet drugs market over the coming years.

One of the emerging trends in the Antiplatelet Drugs Market Demand is the rising preference of novel oral antiplatelet agents over aspirin. While aspirin has been a mainstay for decades, newer drugs like ticagrelor and vorapaxar offer advantages like greater safety, reduced risk of bleeding and improved antiplatelet activity. Their superior efficacy profiles over traditional aspirin therapy is contributing significantly to the antiplatelet drugs market revenue. Moreover, combination therapies using multiple antiplatelet mechanisms are also gaining traction as they provide robust platelet inhibition with an acceptable safety profile.

Porter’s Analysis

Threat of new entrants: Low as high capital requirements, patents and expertise are significant barriers to entry. However, new drugs are often researched and invested in.

Bargaining power of buyers: Moderate as buyers have some options but alternatives may not provide all benefits of antiplatelet drugs. Buyers seek quality and value from suppliers.

Bargaining power of suppliers: Moderate as suppliers have expertise and patents but competition exists. Suppliers aim to strengthen customer relationships through innovation.

Threat of new substitutes: Low as new substitute drugs require extensive research, testing and capital. New substitutes may offer benefits but cannot replace all antiplatelet drug functions.

Competitive rivalry: High as major players compete on drug quality, efficacy and price. Brand loyalty and product differentiation are important competitive factors.

Geographical Regions

North America accounts for the largest share in the antiplatelet drugs market, valued at over US$ 1 Bn in 2024 owing to major healthcare spends. It is also a key region for clinical trials and drug approvals are comparatively faster.

Asia Pacific region is expected to grow the fastest during the forecast period, anticipated to register a CAGR of over 15% from 2024-2031. Factors such as increasing healthcare expenditures, rise in disposable income, growing awareness, and expansion strategies by key market players provide opportunities for growth. Countries like China and India have emerged as global pharmaceutical manufacturing hubs and offer significant potential.

1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it