As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The primary driver for market expansion is the rising incidence and mortality rates of cardiovascular illnesses. The growing lifestyle concerns such as diabetes and obesity, as well as public health awareness, are driving the demand for more effective therapies. North America has the largest market share attributing to the rising mortality rates due to CVDs. Europe follows closely with over 11 million new cases of CVD being diagnosed every year, as per the European Society of Cardiology (ESC). The anticoagulant use has increased dramatically since the advent of NOACs. Its manufacturing and efficiency are increasing as pharmaceutical and therapeutic industries continue to grow and invest more in research and developments. The risks due to COVID-19 have prompted more investments in this sector. The increasing healthcare funding from the government and key market players is a major driver of market expansion.
In May 2019, Fragmin (dalteparin sodium) injection, for subcutaneous use, was approved by the US Food and Drug Administration (FDA) to decrease the recurrence of symptomatic venous thromboembolism (VTE) and mortality in paediatric patients aged one month and above. This has opened the industry to a different target market and further contributing to the market growth. As of January 2021, WHO recommended using low-dose anticoagulants in hospitalised patients to prevent blood clots from developing in blood arteries (thrombosis). According to NIH, full dose anticoagulation medications given to moderately unwell individuals hospitalised for COVID-19 reduced the need for critical organ support, such as breathing, in a large clinical trial done internationally in January 2021. A possible reduction in mortality was also noticed and is being investigated further. With the pandemic still in force, the need for anticoagulants in the healthcare industry is expected to increase over the forecast period.
Market Analysis by Drug Class, Application, and Region:
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The major players in the global market for anticoagulants are Johnson & Johnson Services, Inc., Bayer AG, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo Company, Limited, GlaxoSmithKline plc, Aspen Pharmacare Holdings Limited, Pfizer Inc., and Portola Pharmaceuticals, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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