Patients who require anticoagulation will have more and hopefully better options over the next 10 years, according to a report published by the International Self-Monitoring Association of Oral Anticoagulated Patients (ISMAAP).
What are Anticoagulants?
Anticoagulants are meant to reduce or eliminate the risk of blood clots, which form when platelets bind together and proteins in the blood stick together. Although blood clots play an important part in stopping external bleeding that occurs when skin is broken, when blood clots form in blood vessels, they are often dangerous because they can block the circulation of blood.
Blood clots occurring in the arteries or heart can block blood flow and lead to a heart attack, and clots in blood vessels in the brain can result in a stroke. Anticoagulants stop the platelets from sticking together and the proteins from binding together, and are commonly used to treat deep vein thrombosis (DVT), pulmonary embolism (PE), and atrial fibrillation and to manage the risk of stroke.
Anticoagulants in the Global Market
The aging population is an important factor in the success of the global anticoagulation market, as are the increasing investments in research and development made by the pharmaceutical industry. The introduction of novel oral anticoagulants (NOACs) like Xarelto, Pradaxa, and Eliquis has fueled tremendous growth in the anticoagulant market, a trend that is expected to continue.
North America, specifically the U.S., is expected to continue to dominate the global anticoagulant market over the next five years, due to increased awareness of therapeutic applications of anticoagulants in disease management. Canada, Germany, France, and the United Kingdom are expected to hold major shares of the market, and Asia is anticipated to exhibit high growth rates over the next five years, particularly in India, China, and Japan.
Strict regulations set by various governments are expected to hamper the growth of the global anticoagulant market, along with the risk of side effects and complications associated with NOACs, which include uncontrolled bleeding, the lack of an approved antidote, and a growing number of pending lawsuits.