The anticoagulants market size in Europe is expected to grow at a CAGR of 10.23% from 2023 to 2028 and be worth USD 17.08 billion by 2028 from USD 10.49 billion in 2023.
The increasing prevalence of chronic diseases such as cardiovascular diseases and deep vein thrombosis majorly drives the growth of the European anticoagulant market. Oral anticoagulants have been utilized in the healthcare sector for over 60 years to mitigate thromboembolic diseases. Deep vein thrombosis, characterized by the formation of blood clots in deep veins within the body, particularly affects larger veins in the lower leg and thigh. The population aged 60 years and above is more susceptible to thrombosis. Various factors contribute to thrombosis, including extended periods of bed rest, reduced physical activity, familial predisposition to blood clots, and obesity. Unhealthy lifestyles, elevated alcohol consumption, genetic predispositions, and sedentary behaviors are prominent factors contributing to the prevalence of heart disease. Anticoagulation products play a vital role in the treatment of cardiovascular diseases, percutaneous coronary intervention, and strokes. Shockingly, approximately 45% of deaths in Europe can be attributed to heart-related issues. Moreover, the formation of blood clots within blood vessels poses a significant risk for brain-related complications and strokes.
The ongoing advancements in anticoagulant therapies further contribute to the growth of the European anticoagulant market. Researchers have been dedicating their efforts to the development of innovative anticoagulant drugs that are available in oral and liquid formulations and commonly referred to as blood thinners. The substantial investments in research and development, robust support from the pharmaceutical companies, improved infrastructure facilities and an increasing number of suppliers boost the growth rate of the European market.
The growing awareness about the importance of anticoagulation therapy, favorable reimbursement policies, rapid adoption of novel oral anticoagulants, increasing number of collaborations and partnerships between pharmaceutical companies and research institutes, the availability of a wide range of anticoagulant options and growing healthcare expenditure in Europe further fuel the growth rate of the European anticoagulant market growth.
Stringent regulatory requirements for drug approval, the high cost of anticoagulant therapy and side effects and complications associated with anticoagulant drugs in Europe majorly hamper the European market growth. Limited access to healthcare facilities in remote areas, resistance to change and traditional preference for conventional therapies and lack of awareness and knowledge about anticoagulant therapy among patients and healthcare professionals further inhibit the growth rate of the European market. Reimbursement challenges and variability across different European countries, adherence issues and non-compliance with anticoagulant treatment regimens and potential risk of bleeding events and other complications with anticoagulant therapy are some of the significant obstacles to the growth rate of the European market.
This research report on the Europe anticoagulant market has been segmented and sub-segmented into the following categories.
By Drug Class:
Based on drug class, the NOACs segment had the leading share of the European market in 2022, followed by Heparin & LMWH segment.
By Route:
By Application:
Based on application, the atrial fibrillation and heart attack segment held the major share of the European market in 2022.
By Country:
Europe had a substantial share of the global market in 2022 and is predicted to account for a notable share of the worldwide market during the forecast period owing to the widespread adoption of anticoagulation therapy in hospitals and growing awareness about the benefits of anticoagulant drugs. European patients rely on oral anticoagulants prescribed by healthcare professionals, with stringent regulations in place to ensure product efficacy and safety.
Among European countries, Germany had the leading share of the European market in 2022 and is predicted to grow at a healthy CAGR during the forecast period owing to the strong manufacturing base and the presence of key market players. The COVID-19 pandemic has further contributed to the demand for anticoagulant drugs in Germany, as the virus's impact on the body increases the risk of blood clotting and respiratory complications.
Similarly, the United Kingdom has a significant presence in the market, supported by specialized hospitals offering blood clot treatments and the availability of generic versions of oral anticoagulants that effectively prevent clot formation. Notably, deep vein thrombosis (DVT) affects a considerable number of individuals in the UK annually. These factors collectively fuel the growth of the anticoagulant market in Europe, presenting opportunities for market players to meet the region's healthcare needs and drive further advancements in anticoagulation therapy.
KEY MARKET PLAYERS:
Bayer AG, Pfizer Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Cpany and Sanofi S.A. are some of the major players in the Europe anticoagulant market
Frequently Asked Questions
Bayer AG, Pfizer Inc., Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company and Sanofi S.A. are some of the major players in the Europe anticoagulant market.
The growth rate of the europe anticoagulants market is 10.23% during the forecast period.
The europe anticoagulants market size is projected to reach USD 17.08 billion by 2028.
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