US Anticoagulation Therapy Market to Grow at a CAGR of 7.9% until 2028
Published | 21 July 2022
United States Anticoagulation Therapy Market is flourishing owing to the growing rates of venous thromboembolism, atrial fibrillation, and stroke; long-term administration and significant recurrent sales of anticoagulation medications; and increased demand for innovative oral anticoagulants (NOACs) are all contributing factors…
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the United States Anticoagulation Therapy Market was worth USD 23.15 billion in the year 2021. The market is projected to grow at a CAGR of 7.9%, earning revenues of around USD 39.43 billion by the end of 2028. The United States Anticoagulation Therapy Market is booming because of the rising outpatient anticoagulation therapy, rising pipeline products in clinical trials, and rising heparin trade are driving the growth of the anticoagulation therapy market. These factors are also driving up the prevalence of blood vessel thromboembolism, arrhythmia, and stroke as well as the acceptance of NOACs. Moreover, for oncology patients whose risk of blood activation and thrombotic events varies depending on the type of cancer, anticoagulant therapy with heparin and heparin-like medications, vitamin K antagonists, or Direct Oral Anticoagulants gives prolonged life expectancy. Furthermore, the rising prevalence of cardiovascular diseases and blood disorders, high levels of medication adherence associated with clinics, and an aging population are driving growth in the anticoagulation therapy market. However, the target market is projected to be negatively impacted by the high cost of drug development and the potential of malfunctions such as increased bleeding.
Innovation in Blood Thinners and Greater Awareness
Two significant variables impacting the growth of the US market are the rise in cardiovascular health awareness and the subsequent rise in innovative pharmacological releases. Drugs that thin the blood are an essential component of the therapy plan. Cardiovascular therapy includes a broad approach that could lead to the recommendation of many different kinds of drugs. The urgent treatment needs for blood clot prevention have led several key market players to introduce a variety of anticoagulants.
Increasing Demand for New Therapies
The increasing usage of novel oral anticoagulants (NOACs) and rising knowledge of NOACs in developing nations are both positive trends in the market for anticoagulant drugs. The market is anticipated to grow as a result of the escalating geriatric population and the expanding demand for cutting-edge medical procedures. Novel medicines, usually referred to as new molecular entities or new compounds, are chemicals that are distinct from any prescription product that has previously obtained approval from the US Food and Drug Administration (FDA). These drugs are state-of-the-art products that offer a novel method of treating particular medical conditions. Additionally, the prevalence of cardiovascular issues and venous thromboembolism (VTE) has generated a significant growth prospect for the sector.
Because of the long-term ill effects created by chemically compounded medications, people are becoming more cautious about using them, which has posed a hurdle to the market's expansion. The surge in manufacturer competition and the variety of goods has also shown to be obstacles to the market expansion for anticoagulant products during the anticipated timeframe.
United States Anticoagulation Therapy Market – By Clinic
The United States Anticoagulation Therapy Market is divided into three types of clinics: Independent Clinics, Hospital Associated Clinics, and Pharmacy-Based Clinics. The section of these clinics that are located in pharmacies has the biggest market share. In the US during the past few years, the number of anticoagulation clinics housed in pharmacies has significantly increased. This is because treatment overseen by competent pharmacists performs better than care provided by family physicians. Because pharmacy-based anticoagulation clinics offer lower therapy costs than independent and hospital-affiliated anticoagulation clinics, the market for these clinics is expected to expand.
Impact of COVID-19 on United States Anticoagulation Therapy Market
The COVID-19 pandemic is expected to have a significant impact on the anticoagulant industry due to the increasing pace of research. Anticoagulant efficacy in COVID-19 patients is currently being studied in clinical trials. As a result, the COVID-19 pandemic will have both direct and indirect market implications. Furthermore, patients infected with COVID-19, both suspected and confirmed, must receive follow-up care that includes a low dose of anticoagulants, according to a World Health Organization update issued in January 2021. As a result, demand for anticoagulants rose during the pandemic and is expected to rise further during the forecast period (2022-2028).
The leading market players in the United States Anticoagulation Therapy Market are Bristol-Myers Squibb, Johnson & Johnson, Pfizer, Portola Pharmaceuticals, C.H. Boehringer Sohn, Daiichi Sankyo, Abbott, Siemens, Roche, Alere, and other prominent players. The United States Anticoagulation Therapy Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the United States Anticoagulation Therapy Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the United States Anticoagulation Therapy Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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