The popularity of online pharmacies is growing at an unprecedented rate in the anticoagulants market, and these channels are projected to emerge as the standard distribution channel in the future. A rapid rise in sales from these channels is also attributable to the increasing demand for effective anticoagulant drugs in developing countries, which is influencing players in the anticoagulants market to target untapped countries with minimal investments in distribution establishments. However, frequent instances of patent expiry are offering a leeway to generic drugs, which is projected to impede the advancement of the anticoagulants market during the forecast period (2020-2026).
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The aforementioned insights are explored comprehensively, along with accurate data, in an exclusive study published by Fact.MR. According to the report, the anticoagulants market is projected to trace a healthy growth trajectory, and grow ~1.6X during 2020-2026.
Key Takeaways of Anticoagulants Market Study
- The cost-effective attribute of conventional drugs, such as warfarin, is boosting consumers’ loyalty towards these drugs, thereby limiting the opportunities for anticoagulants.
- Producers are leveraging the prowess of quality development by zooming in their focus on the development of products with fewer to nil side effects, as anticoagulants are found to have caused nausea, vomiting, and excessive bleeding in some patients.
- The introduction of patient-assistance programs by leading players to cushion the high finances required for the production of anticoagulant drugs is expected to serve as an instrument to strategize customer acquisition and retention. Daiichi Sankyo—a leading player in the anticoagulants market—illustrates this strategy. The company offers the SAVAYSA Savings Card to eligible patients at US$ 4 for a 30-day prescription, and US$ 12 for a 90-day prescription.
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- The oral route of drug administration remains the standard method, with an estimated share of ~54% in 2020, in the anticoagulants market. Concerns regarding the sterilization of needles leading to contagious diseases and infections are offering an edge to the oral consumption of drugs.
- Factor XA Inhibitors accounted for ~50% share in the anticoagulants market in 2019, and are likely to retain their dominance in the drug class during 2020-2026. These drugs do not have any food interactions, owing to minimal metabolism through the CYP450 system.
“Untapped markets with high RoI potential in the anticoagulants market—India, China, South Africa, Mexico, and Brazil—are worth exploring to reduce overhead cost, and, in turn, gain a price competitive advantage without squeezing profit margins”, recommends a seasoned analyst at Fact.MR.
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Market Majors Develop Blockbuster Drugs; Local Players Rely on Generic Drugs
Despite the growing popularity of blockbuster drugs, the threat of patent expiration is a cause of high concern among players in the anticoagulants market, which necessitates efforts and capital in research & development activities. The introduction of effective drugs remains the key strategy of leading players particularly, as the production of generic drugs by local and regional players hard-hits the revenue of these players. A leading player, Boehringer Ingelheim GmbH, announced the launch of a research & development program to explore its capabilities, increase number of pipeline drugs, and, in turn, collaborate with external partners. However, as novel drugs are cost-prohibitive in nature, small- and mid-level players are expanding in the anticoagulants market through the introduction of generic drugs.
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