Antiplatelet Market: Analysis By Drug Class, By Route of Administration, By Distribution Channel, By Region Size and Trends

Antiplatelet drugs prevent platelets from sticking together and decrease the body’s ability to form blood clots. These medications are used to treat, and may help prevent, heart attack, abnormal heartbeat, and stroke. Aspirin is the most commonly used antiplatelet drug. They can also help relieve symptoms such as chest pain, poor circulation and shortness of breath. The global antiplatelet market value stood at US$3.53 billion in 2023, and is expected to reach US$4.50 billion by 2029.

The global antiplatelet market growth is driven by factors such as innovations in drug development, rising geriatric population, growing prevalence of cardiovascular diseases, and an increasing focus on preventive healthcare strategies. The growing number of individuals with a history of CVD contributes to sustained demand for antiplatelet drugs. As healthcare professionals strive to improve patient outcomes in cardiovascular care, the role of antiplatelet drugs remains pivotal in reducing the burden of thrombotic events. Moreover, growing adoption of antiplatelet drugs in emerging economies is further creating lucrative growth opportunities for the market. The market is expected to grow at a CAGR of 4.22% over the projected period of 2024-2029.

Market Segmentation Analysis:

By Drug Class: The report provides the bifurcation of the global antiplatelet market into three segments on the basis of drug class, namely, Adenosine Diphosphate Receptor Inhibitors, Irreversible Inhibitors Cyclooxygenase, and Other drug classes. The adenosine diphosphate (ADP) receptor inhibitors segment dominated the antiplatelet market in 2023, owing to well-established efficacy and safety profiles of ADP receptor inhibitors.

In addition, potent antiplatelet effects make them a preferred choice for the prevention and treatment of cardiovascular diseases, driving the demand for ADP receptor inhibitors. ADP receptor inhibitors are often prescribed in conjunction with COX inhibitors for dual antiplatelet therapy, especially following percutaneous coronary interventions (PCI) or in patients with acute coronary syndrome.

By Route of Administration: The report provides the bifurcation of the global antiplatelet market into two segments on the basis of route of administration Oral and Injectable. Oral held the highest share in the market. The oral route of administration involves taking medications by mouth, typically in the form of tablets, capsules, liquids, or suspensions. Aspirin is one of the oldest and most widely used oral antiplatelet medications. The oral route is convenient for patients as it allows self-administration without the need for healthcare professionals or specialized equipment.

On the other hand, the development of new oral therapies has expanded the options for antiplatelet treatment and increased the demand for oral administration, thus leading to an increase in demand. The injectable segment is anticipated to register the fastest growth over the forecast period due to increasing indications and approvals by regulatory agencies and advances in drug delivery systems to increase patient compliance.

By Distribution Channel: The global antiplatelet market can be divided into three segments, on the basis of distribution channel, namely, drug stores, hospital pharmacies, and online stores. Drug stores held the highest share of the market, as a result of easy accessibility and convenience, wide product range, reliable prescription fulfillment, patient consultation, and guidance services. These factors collectively contribute to the continued dominance of drug stores in the antiplatelet market. Drug stores are easily accessible to patients and provide convenient access to medications for patients with cardiovascular disease.

Online segment is also expected to be the fastest-growing segment in the forecasted period. Online pharmacies provide convenient access to medications for patients with cardiovascular disease, especially for those who may have limited access to nearby pharmacies. Moreover, online stores may have a wider range of medications available, that may not be readily accessible at local retail pharmacies, which contributes to market growth.

By Region: The report provides insight into the global antiplatelet market based on regions namely, North America, Europe, Asia Pacific, and Rest of World. North America is the largest region of global antiplatelet market, owing to aging population, increase in healthcare spending, presence of well-established healthcare infrastructure, existence of a sizable population suffering from cardiovascular diseases, well-established reimbursement policies and favorable healthcare regulations in countries like the US & Canada, and strong presence of major market players in the region. Also, North America is known for its strong scientific community, advanced research infrastructure, and early adoption of advanced medical technologies and procedures, fostering a conducive environment for the development of sophisticated & highly effective antiplatelet drugs.

Asia Pacific is the fastest growing region of global antiplatelet market as a result of rising prevalence of cardiovascular disorders, consistent positive outlook for cardiovascular care, large patient pool, growing geriatric population base, rapidly evolving healthcare industry, rising awareness about cardiac diseases, increasing medical tourism industry, implementation of government-funded insurance scheme and reimbursement scenario, and improvement in healthcare access in the region.

China is the largest region of Asia Pacific antiplatelet market owing to rapidly growing patient population, country's robust economic growth, rapid expansion of healthcare infrastructure, increasing middle-class healthcare spending, growing number of domestic manufacturers & innovators in the medical device sector, increased awareness about cardiovascular health, and ongoing development of advanced medical training programs and centers of excellence in cardiology and cardiac surgery in the country.

Market Dynamics:

Growth Drivers: The global antiplatelet market has been rapidly growing over the past few years, due to factors such as increased incidence of cardiovascular diseases, rising healthcare expenditure, surging geriatric population, health-conscious consumers, increasing research and development activities, etc. Increased incidence of cardiovascular diseases is a significant driver of the global antiplatelet market, as both healthcare professionals and patients are becoming more cognizant of the risks associated with cardiovascular diseases (CVD). According to CDC, about 1 in 20 adults age 20 and older have coronary artery disease (about 5%), and in 2022, 371,506 people were killed from coronary heart disease.

Antiplatelet medications lower the occurrence of cardiovascular events such as heart attacks and strokes. They have been proven to be effective at preventing platelet aggregation and reducing the formation of blood clots in clinical trials and research studies. Thus, the heightened awareness encourages individuals at risk to seek medical advice, routine screenings and early detection, leading to increased diagnoses and subsequently a greater demand for antiplatelet drugs.

Challenges: However, the global antiplatelet market growth would be negatively impacted by various challenges such as, availability of a number of alternatives to antiplatelet drugs, regulatory and safety considerations, etc. The availability of a number of alternatives to antiplatelet drugs poses a significant challenge to the antiplatelet market. Antiplatelets, like aspirin or clopidogrel, prevent blood cells called platelets from clumping together to form a clot.

Trends: The global antiplatelet market is projected to grow at a fast pace during the forecasted period, due to enhancements in drug delivery systems, combination therapies, advancements in antiplatelet drugs, etc. Enhancements in drug delivery systems present significant opportunities for the global antiplatelet market by improving the efficacy, safety, and patient compliance of antiplatelet therapies. The combination of antiplatelet and anticoagulant therapy is more effective than either treatment alone for the initial and long-term management of acute coronary syndromes in some cases. Thus, due to the growing preference of combination treatment, the demand for antiplatelet drugs is expected to increase during the forecast period.

Impact Analysis of COVID-19 and Way Forward:

The growth of global antiplatelet market witnessed mixed impact during the period 2019-2020, as with the healthcare system under pressure, there was an increased demand for Antiplatelet drugs to protect against associated incidences with COVID-19. There has been significant research on the potential benefits of antiplatelet therapy in COVID-19 patients. However, the pandemic has caused disruptions in global supply chains, leading to shortages of some antiplatelet drugs and increased costs for drug manufacturers. It made it more challenging for companies to produce and distribute antiplatelet medications, which as a result, reduced their revenue.

Competitive Landscape:

The global antiplatelet market is quite fragmented with the presence large number of local players’ operation in different regions. Leading companies in the market include Astrazeneca, Sanofi, Bayer AG, Sun Pharmaceuticals, etc. which dominate due to their product portfolios, geographic reach, market initiatives, mergers and acquisitions, and significant investments. These companies are investing heavily in research and development to introduce new drugs.

The key players of the market are:

• AstraZeneca
• Sanofi
• Daiichi Sankyo Co., Ltd.
• Bayer AG
• Sun Pharmaceutical Industries Ltd.
• Torrent Pharmaceuticals Ltd.
• Lupin Ltd.
• Cipla Limited
• Baxter International Inc
• Takeda Pharmaceutical Company Limited
• Glenmark Pharmaceuticals Inc., USA

The global industry is competitive in nature, with various large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced drugs with improved efficiency and cost-effectiveness is among a key market strategy adopted by antiplatelet manufacturers. Also, there has been increasing number of successful clinical trials obtaining regulatory approvals from agencies like the FDA or EMA, positively contributing to market expansion, and entry of new advanced drugs into the market.