by Ticagrelor is an antiplatelet drug used to reduce the risk of heart attack or stroke in certain patients with coronary artery disease. It works by inhibiting the activity of platelets in the blood which prevents them from clumping together and forming clots. With rising prevalence of cardiovascular diseases like coronary artery diseases, heart attacks, and strokes globally, the need for effective antiplatelet drugs like ticagrelor has increased tremendously. Ticagrelor offers advantages over other antiplatelet drugs like clopidogrel as it has shown superior efficacy in reducing heart attacks and deaths with similar safety profile. The global ticagrelor market is driven by growing geriatric population which are more prone to develop cardiovascular diseases and increasing awareness about cardiovascular health.
The global Ticagrelor Market is estimated to be valued at US$ 1285.83 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the ticagrelor market is the entry of low-cost generic versions. The patent of branded ticagrelor drug Brilinta expired in 2021, allowing other companies to launch generic ticagrelor at significantly lower prices. This has intensified the competition in the market and is expected to drive the overall ticagrelor market growth during the forecast period. The availability of low-cost generics has made ticagrelor accessible to more number of patients globally especially in developing regions. The companies are also focusing on developing fixed dose combinations and novel drug delivery systems to improve patient compliance and convenience of ticagrelor therapy.
Porter’s Analysis
Threat of new entrants: The ticagrelor market requires high R&D investment and regulatory approvals, limiting threat of new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative generic substitutes in the market.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to concentration of key raw material suppliers.
Threat of new substitutes: Threat of new substitutes is low as ticagrelor has firmly established itself in treatment of acute coronary syndrome.
Competitive rivalry: The ticagrelor market is highly competitive with presence of key global players.
Key Takeaways
The global Ticagrelor Market Growth is expected to witness high growth over the forecast period. The global Ticagrelor Market is estimated to be valued at US$ 1285.83 Mn in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030.
Regional analysis: North America is expected to dominate the market over the forecast period due to growing geriatric population and rising incidence of atrial fibrillation in the region.
Key players: Key players operating in the ticagrelor market are ANDRITZ Group, Baltur S.p.A, Bloom Engineering, Wood Group PLC, Honeywell International Inc., Limpsfield Combustion Engineering Ltd, Mitsubishi Hitachi Power Systems, Ltd, Oilon Group, Osaka Gas Co., Ltd, Selas Heat Technology Company, R.W. Beckett Corp, SAACKE GmbH, Industrial Combustion IC, Wesman Group, Striko Westofen, Forbes Marshall Pvt. Ltd., QED Combustion, Alzeta Corporation, Alfa Therm Limited, Weishaupt, Enertech GmbH, Power Flame (Astec), EOGB Energy Products Ltd., Babcock Wanson, Riello S.p.A, Zeeco, Inc., Alfa Laval, Corbett Industries, Inc., Faber Burner Company, AGF Burner Inc., John Zink Hamworthy Combustion, Oxilon Private Limited, Wayne Combustion Systems, SECO/WARWICK,
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
