by The ticagrelor market comprises products like Brilliant and generic ticagrelor that are used for the treatment of acute coronary syndrome (ACS) and the prevention of atherothrombotic events in patients with a history of myocardial infarction. Ticagrelor works by reversibly binding to the P2Y12 receptor on platelets to prevent further platelet activation and aggregation.
The global ticagrelor market is estimated to be valued at US$ 1481.28 million in 2024 and is expected to exhibit a CAGR of 3.0% over the forecast period of 2024 to 2031.
Key players operating in the ticagrelor market are AstraZeneca, Sun Pharmaceutical, Alembic Pharmaceuticals, Cipla, and Dr Reddy’s Laboratories. These players collectively account for a substantial share of the global market. Ticagrelor offers advantages over other antiplatelet drugs like clopidogrel as it provides faster offset of action and more consistent platelet inhibition. It is predominantly prescribed along with aspirin to treat conditions like unstable angina, myocardial infarction, and stroke. The growing geriatric population suffering from cardiovascular ailments and increasing adoption of ticagrelor as first-line therapy have been fueling the market growth.
Key Takeaways
Key players: Key players operating in the ticagrelor market are AstraZeneca, Sun Pharmaceutical, Alembic Pharmaceuticals, Cipla, and Dr Reddy’s Laboratories. AstraZeneca’s Brilinta is the leading brand in the global ticagrelor market.
Growing demand: The increasing incidences of coronary artery disease, myocardial infarction, and strokes globally have boosted the demand for antiplatelet drugs like Ticagrelor. It is seeing higher utilization as first-line therapy for ACS over alternatives.
Global expansion: Major manufacturers are expanding their production capacities and distribution networks in emerging nations to tap the growth opportunities. Regional and global collaborations allow companies to strengthen their presence worldwide.
Market key trends
Personalized medicine approach Ticagrelor Market Size and Trends: There is a growing trend of adopting a precision medicine approach for antiplatelet treatment. Pharmacogenomic tests can help identify patients who are fast or poor metabolizers of ticagrelor. This helps optimize dosing and maximize therapeutic benefits.
Porter’s Analysis
Threat of new entrants: Explaining in two line that new generics manufacturer will take time to gain market share due to existing brand loyalty.
Bargaining power of buyers: Explaining in two line that larger buyers can negotiate for lower prices but individual consumers have low bargaining power.
Bargaining power of suppliers: Explaining in two line that Active Pharmaceutical Ingredients (API) manufacturers have some bargaining power due to differentiated technology and quality requirements.
Threat of new substitutes: Explaining in one line that new oral antiplatelets or other cardiac devices pose competition.
Competitive rivalry: Explaining in one line that competition is high among existing manufacturers.
Geographical Regions
North American region accounts for the largest share of the global ticagrelor market in terms of value due to high adoption of ticagrelor in the treatment of acute coronary syndrome. The technological advancements and awareness regarding benefits of ticagrelor over other antiplatelet drugs drive the market growth in the region.
Asia-Pacific region is expected to witness the highest growth over the forecast period owing to rising population with cardiovascular diseases, increasing healthcare spending, and growing medical tourism. Rising disposable incomes and expanding healthcare infrastructure also support regional market growth.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
