Ticagrelor is an antiplatelet medication that helps prevent platelets from clumping together and forming clots. It is predominantly used for acute coronary syndrome and myocardial infarction. Ticagrelor is usually prescribed after a stent surgery to prevent blood clots from forming on the stent. The drug improves blood flow by keeping platelets from clumping together and forming a blockage. Ticagrelor is available as a prescription medication under the brand name Brilinta. It comes as 90 mg tablets taken twice a day with or without food.
The Global Ticagrelor Market Size is estimated to be valued at US$ 1481.28 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing adoption of antiplatelet drug therapy and preference over clopidogrel: The adoption rate of antiplatelet drugs such as ticagrelor has increased significantly in the recent past owing to its superior efficacy over other antiplatelet drugs such as clopidogrel. Ticagrelor provides greater platelet inhibition and reduces the risk of cardiovascular events as compared to clopidogrel. Hence, it is increasingly being preferred by physicians over clopidogrel. This growing adoption is expected to drive the ticagrelor market growth over the forecast period.
Increasing prevalence of cardiovascular diseases: The rising prevalence of cardiovascular diseases such as atherosclerosis, myocardial infarction, and unstable angina globally is the major factor propelling the growth of ticagrelor market. Ticagrelor is predominantly used for the treatment of acute coronary syndrome (ACS) and myocardial infarction. According to the American Heart Association 2020 statistics, in the U.S. alone, about 16.8 million people were diagnosed with coronary heart disease in 2017 and around 655,000 people die every year due to heart disease. The growing incidence of cardiovascular diseases creates high demand for antiplatelet drugs such as ticagrelor, thereby fueling the market growth.
Segment Analysis
The ticagrelor market is segmented by Indication into acute coronary syndrome and other indications. The acute coronary syndrome segment is dominating the ticagrelor market currently as ticagrelor is widely used for treating patients with heart attacks or unstable angina. It has shown better efficacy in reducing chances of heart attack or stroke in such patients as compared to other antiplatelet drugs such as clopidogrel.
PEST Analysis
Political: Government regulations regarding usage of drugs for cardiovascular diseases are becoming more stringent. Drug makers have to meet various efficacy and safety parameters set by regulatory bodies to market ticagrelor.
Economic: Growing geriatric population globally who are at higher risk of cardiovascular diseases is driving demand for drugs such as ticagrelor. However, price control measures by some countries can impact sales.
Social: Increased health awareness and focus on preventive healthcare has led to greater adoption of antiplatelet drugs like ticagrelor for reducing chances of heart attacks and strokes. People are open to use such drugs as prescribed by doctors.
Technological: Manufacturers are focusing on developing new drug delivery systems like orally disintegrating tablets for ticagrelor to improve patient compliance especially for geriatric patients who have difficulty in swallowing conventional tablets.
Key Takeaways
The global ticagrelor market is expected to witness high growth over the forecast period of 2024 to 2031 driven by increasing incidence of acute coronary syndrome. The market size is projected to grow from US$ 1481.28 Mn in 2024 to cross US$ 2500 Mn by 2031 registering a CAGR of 3%.
Regional analysis: North America currently dominates the ticagrelor market owing to high awareness levels regarding cardiovascular health. However, Asia Pacific region is poised to witness fastest growth due to improving healthcare infrastructure and rising healthcare spending in major countries like China and India.
Key players: Key players operating in the ticagrelor market are Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc. These key players are focused on expanding their product portfolios and geographical presence through collaborations with regional players.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
