Thrombin inhibitors are commonly used oral anticoagulant drugs that inhibit the activity of thrombin, a key enzyme in the coagulation cascade. These drugs help prevent formation of blood clots and vein and artery blockages and are used to treat conditions like deep vein thrombosis, pulmonary embolism, atrial fibrillation, heart attacks and strokes.
The global Thrombin Inhibitor Market is estimated to be valued at US$ 30.75 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of anticoagulant therapies due to rise in prevalence of cardiovascular diseases and blood clots is the key trend propelling the growth of the global Thrombin Inhibitor market. As per a report by the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2019, a number that is anticipated to grow to over 23.6 million by 2030. The growing disease burden has led to increased usage of anticoagulant drugs like thrombin inhibitors that help prevent formation of clots.
SWOT Analysis
Strength: Thrombin inhibitors have high selectivity and specificity for thrombin, making them effective anticoagulant drugs with minimal side effects.
Weakness: Thrombin inhibitors have a short half-life requiring frequent dosing. There is also a risk of increased bleeding due to their anticoagulant effect.
Opportunity: The aging population is prone to thrombotic diseases, thus representing an opportunity for growth. A direct oral anticoagulant with fewer drug-drug interactions than warfarin can capture more market share.
Threats: Patent expiries of blockbuster drugs will increase competition from generic versions. Biosimilars may also emerge as alternatives.
Key Takeaways
The global thrombin inhibitor market is expected to witness high growth. The global Thrombin Inhibitor Market is estimated to be valued at US$ 30.75 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
North America dominates the market currently due to high healthcare spending and growing geriatric population susceptible to cardiovascular diseases. Asia Pacific is poised to grow at the fastest pace with increased focus on healthcare development in countries like China and India.
Key players operating in the thrombin inhibitor market are Pfizer Inc., Bristol Myers Squibb, Bayer AG, Sanofi S.A., Boehringer Ingelheim GmbH, Johnson & Johnson, Daiichi Sankyo Company, Limited, CSL Behring, Portola Pharmaceuticals, Inc., AbbVie Inc., GlaxoSmithKline plc, Novartis International AG, Merck & Co., Inc., Aspen Pharmacare Holdings Limited, Eisai Co., Ltd. Major players are focusing on R&D to develop newer formulations with improved safety profiles. Partnerships and licensing agreements are also expected to rise in the forecast period.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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