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Thrombin inhibitors are administered during surgery to reduce blood loss and minimize the risk of thrombosis or blood clots. These inhibitors interfere with the coagulation cascade and prevent the conversion of fibrinogen to fibrin, which is essential for clot formation. The global thrombin inhibitor market plays a vital role in cardiovascular healthcare management to treat problems like heart attacks and strokes. An increasing geriatric population base that is highly susceptible to cardiovascular diseases has augmented the demand for anti-coagulants and thrombosis drugs. The global thrombin inhibitor Market is estimated to be valued at US$ 30.75 billion in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The increasing prevalence of cardiovascular diseases remains a key growth driver for the thrombin inhibitor market. As per the World Health Organization, cardiovascular diseases account for over 17.9 million deaths worldwide every year, of which more than 75% occur in low-and middle-income countries. Rising risk factors like obesity, physical inactivity, and stress have contributed significantly to the growing incidence of cardiovascular disorders among various age groups. Since thrombin inhibitors are commonly prescribed as blood thinners to prevent complications arising from cardiovascular diseases, their demand is expected to surge consistently with the uptick in cardiac disorders.
SWOT Analysis
Strength: Thrombin inhibitors provide effective treatment for diseases where thrombin plays a pathogenic role. They help in inhibiting blood clot formation and preventing thrombosis.
Weakness: Thrombin inhibitors have risk of excessive bleeding as side effect if not used carefully under medical supervision. Development of thrombin inhibitors also requires extensive research and clinical trials.
Opportunity: Rise in cardiovascular diseases, thrombosis and related conditions has increased demand for more effective anticoagulants and thrombin inhibitors. Growing geriatric population also provides new opportunities.
Threats: Presence of alternative anticoagulant drugs poses competition in the market. Regulatory approval process is long and stringent which delays market entry of new players.
Key Takeaways
The global thrombin inhibitor market is expected to witness high growth.
Regional analysis: Asia Pacific is poised to be the fastest growing region in the thrombin inhibitor market during the forecast period. Increase in healthcare expenditure, large geriatric population base and rise in incidence of cardiovascular conditions are driving the market growth.
Key players operating in the thrombin inhibitor market are Baxter International Inc., Bayer AG, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Daiichi Sankyo Company Limited, Johnson & Johnson, Pfizer, Inc., Sanofi, and Portola Pharmaceuticals, Inc. These companies are focused on strengthening their product portfolios through mergers and acquisitions and new product launches.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
