Ticagrelor Market Estimated To Witness High Growth Owing To Increasing Prevalence of Cardiovascular Diseases and Rising Geriatric Population

The ticagrelor market is estimated to be valued at US$ 1,617.6 million in 2023 and is expected to exhibit a CAGR of 12.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Ticagrelor is an oral, reversible antagonist of the platelet P2Y12 adenosine diphosphate (ADP) receptor. It is used alongside aspirin to prevent blood clots in patients with acute coronary syndromes or a history of myocardial infarction. Ticagrelor is prescribed to patients undergoing percutaneous coronary intervention (PCI) or those with a history of myocardial infarction. It acts by blocking platelets from clumping together and forming dangerous clots in the arteries.

Market Dynamics:

The ticagrelor market is driven by the increasing prevalence of cardiovascular diseases across the globe. According to the World Health Organization (WHO), cardiovascular diseases account for over 17.9 million deaths globally every year, which is about 31% of all death worldwide. Moreover, rising geriatric population is also contributing to the growth of this market. As per the United Nations (UN), the world’s population aged 60 years or above is expected to double from 12% to 22% between 2015 and 2050. The elderly are more prone to developing cardiovascular disorders requiring long term medication such as ticagrelor.

The rising diabetic population is also fueling the market growth. Diabetes is another major risk factor for developing cardiovascular diseases which may require treatment with antiplatelet drugs like ticagrelor.

Segment Analysis

The ticagrelor market is dominated by the platelet aggregation inhibitor sub-segment. Ticagrelor is used as a platelet aggregation inhibitor to reduce the risk of heart attacks and strokes in patients with acute coronary syndrome or a history of myocardial infarction. Ticagrelor works by blocking Platelet Activation Factor (PAF), thereby preventing the formation of blood clots. Its distinct mechanism of action as a reversable P2Y12 platelet inhibitor differentiates it from clopidogrel and makes it more effective at reducing adverse cardiovascular events.

PEST Analysis

Political: Governments across countries are raising awareness about cardiovascular diseases through health campaigns and promoting the use of drugs like ticagrelor to prevent heart attacks.
Economic: The rising prevalence of cardiovascular diseases globally has increased healthcare spending on treatments. The economic burden of heart disease drives the growth of the ticagrelor market.
Social: Unhealthy lifestyles including sedentary jobs, smoking, high stress levels, and junk food diet have increased cardiac risks in populations. This raises the demand for antiplatelet drugs like ticagrelor.
Technological: Research is ongoing to develop new oral antiplatelet agents and drug-eluting stents that effectively treat acute coronary syndrome when used with ticagrelor.

Key Takeaways

The Global Ticagrelor Market Growth  is expected to witness high, exhibiting CAGR of 12.3% over the forecast period, due to increasing prevalence of cardiovascular diseases worldwide. The American Heart Association estimated that cardiovascular disease costs the U.S. over $200 billion annually.

On a regional basis, North America dominated the ticagrelor market in 2017 due to a high adoption rate of novel drug-eluting stents in complex cardiac surgeries and percutaneous coronary intervention procedures in the region. However, Asia Pacific is projected to witness the fastest growth during the forecast period owing to rising geriatric population, improving healthcare infrastructure and growing medical tourism in China, India and Japan.

Key players operating in the ticagrelor market are C.H. Boehringer Sohn AG & Ko. KG, Pfizer Inc., Eli Lilly and Company, AstraZeneca plc, Natco Pharma Limited, Anhui Haikang Pharmaceutical Co., Ltd., Avra Laboratories Pvt. Ltd., and Sun Pharmaceutical Industries Ltd. These companies are focusing on developing new drug delivery methods and formulations of ticagrelor to increase its efficacy and reduce side effects.

 

Read More –  https://www.newsanalyticspro.com/ticagrelor-market-analysis-share-trends-and-demand-forecast/

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