Market Overview
The global ticagrelor market is predicted to register a striking CAGR during the forecast period (2017-2027) owing to the rising patient population suffering from heart problems, asserts Market Research Future (MRFR). Ticagrelor is referred to as an antiplatelet drug, a member of the pharmaceuticals section which helps to tackle the problem of platelet aggression. It keeps the platelets from coagulating in order to prevent unwanted blood clots that can occur with certain blood vessel or heart conditions. Ticagrelor outperformed an established product named Clopidogrel by the SOC in the clinical trials in terms of safety of the patients and end results. The drug is also used as an agent to reduce stent thrombosis. Ticagrelor is a product of an already established entity, AstraZeneca and will be offered enough market space to achieve high growth rates in the market.
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Competitive Dashboard
The prominent players operating the global ticagrelor market are Alexion, Ingelheim, Roche, Ingelheim Pfizer, Pfizer, GSK, Boehringer, Amgen, Boehringer, Merck, Amgen, and Eli Lilly.
Global Ticagrelor Market: Segmental Analysis
The global ticagrelor market has been segmented on the basis of end-users and region.
- By mode of end-users, the global ticagrelor market has been segmented into hospitals, clinics, and medical institutions. Among these, the hospital segment is considered to experience a significant growth rate during the assessment period owing to the well-developed infrastructure and latest devices offered by the hospitals. Moreover, rising incidences of heart attacks are propelling the segment growth.
Drivers and Constraints Impacting the Market
The global ticagrelor market is estimated to register a healthy CAGR due to several driving factors. With increasing patient population suffering from heart problems, the market is estimated to foster during the assessment period. Increasing product development by the companies, funding for research and development activities by the major market players and improving market access scenarios are further estimated to propel the market. Moreover, owing to the presence of several well-established players, the ticagrelor market is estimated to flourish in the coming years.
On the flip side, side effects of ticagrelor such as chest pain, irregular heartbeat, shortness of breath, nose bleeding, and spots under the skin are some of the major concerns considered to impede the market growth during the estimated period.
Regional Insights
Geographically, the ticagrelor market span across regions namely, Europe, Americas, Asia Pacific, and the Middle East Africa.
Among all the regions, America occupies the largest market share of approx. more than 40% owing to the extensive use of the drug by the patients who are discharged from hospitals in this region. Moreover, presence of major manufactures in this region is further contributing to the market growth.
Europe is estimated to be the second largest market and is anticipated to maintain its dominance during the appraisal period owing to the increasing awareness of ticagrelor in this region. Moreover, well-developed hospital infrastructure has further promoted the market growth.
The Asia Pacific region is considered to expand at the fastest growth rate owing to the increased number of cardiovascular patients in this region. Economies such as China and India are predicted to be the fastest growing regions. Moreover, major key players are expanding their presence in this region which is further contributing to the market growth. For instance, Sun Pharmaceutical Industries Ltd. and AstraZeneca Pharma India Limited had announced that they had entered entered into a distribution services agreement in India for Axcer, which is a new brand of ticagrelor.
On the other hand, the Middle East Africa is presumed to occupy the least market share owing to poor medical facilities, lack of awareness, and limited market scenario activities.
Industry Updates
- September 05, 2018: The US Food and Drug Administration has recently approved the first generic medication which has been developed forminimizing the risk of heart attack and also death caused from heart attack in patients suffering from acute coronary syndrome. A generic version of Brilinta from AstraZeneca Pharmaceuticals, Ticagrelor tablet shave been granted Abbreviated New Drug Application approval in 60 and 90 mg doses.
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