by P2Y12 inhibitors are used as anti-platelet drugs in cardiovascular diseases treatments. They block the adenosine diphosphate (ADP) receptor P2Y12 on platelets, inhibiting ADP-mediated activation and aggregation of platelets. Drugs such as clopidogrel, ticagrelor, cangrelor and elinogrel are commonly used as P2Y12 inhibitors. The demand for advanced P2Y12 inhibitors is increasing owing to rise in cardiovascular diseases like myocardial infarction, ischemia, and atherosclerosis amongst others. Global P2Y12 inhibitors market is estimated to be valued at US$ 267.73 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Global P2Y12 Inhibitors Market Share are Abcam plc, Bio-Rad Laboratories, Inc., Cell Signaling Technology, Inc., BD Biosciences, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., BioLegend, Inc., Merck KGaA, Novus Biologicals, LLC, R&D Systems, Inc. (a Bio-Techne brand), Santa Cruz Biotechnology, Inc., Beckman Coulter, Inc., Miltenyi Biotec GmbH, GeneTex, Inc., MBL International Corporation. The demand for P2Y12 inhibitors is increasing owing to rising prevalence of cardiovascular diseases. Growing geriatric population suffering from chronic diseases like heart diseases is a key factor boosting the market growth. Technological advancements in drug development have led to availability of novel and improved P2Y12 inhibitor drugs with reduced side effects.
Market Trends
Increasing adoption of combination drug therapies: Drug makers are focusing on developing combination drug therapies using P2Y12 inhibitors along with other antiplatelet drugs to achieve enhanced therapeutic efficacy. This trend is expected to continue in the forecast period.
Growing preference for biosimilars: Biosimilar versions of some major P2Y12 inhibitor drugs are being developed and commercialized at significantly lower costs compared to originator brands. This will enable more patients to access these life-saving drugs.
Market Opportunities
Emerging economies: Emerging countries in Asia Pacific and Latin America are expected to offer lucrative opportunities for P2Y12 inhibitors market players owing to growing healthcare infrastructure and increasing medical expenditures.
Novel drug delivery approaches: Companies are exploring advanced drug delivery approaches like orally disintegrating tablets, lipid-based formulations etc. to enhance patient compliance for P2Y12 inhibitors requiring frequent dosing.
Impact of COVID-19 on U.S. P2Y12 Inhibitors Market Growth
The COVID-19 pandemic has significantly impacted the growth of the U.S. P2Y12 inhibitors market. In the initial phases, restrictions on non-essential medical procedures led to a decline in overall patient volumes and elective surgeries. This resulted in reduced usage of antiplatelet drugs like P2Y12 inhibitors which are commonly prescribed after procedures like angioplasty and stenting. However, as COVID-19 can increase the risk of blood clots and thrombotic complications, the usage of antiplatelet medications increased significantly for high-risk patients diagnosed with coronavirus. This provided some respite to market revenues.
Going forward, the market is expected to witness steady growth as more patients resume elective surgeries and procedures in a phased manner. Meanwhile, drug manufacturers are focusing on developing new formulations and delivery methods to improve patient adherence to long-term antiplatelet therapy. For instance, newer once-daily oral P2Y12 inhibitor drugs have gained preference over previous options requiring multiple doses. Telehealth and digital healthcare are also enabling continued care and medication management. Overall, while short-term earnings were impacted, the underlying need for antiplatelet therapy especially in high-risk groups is expected to drive the market back towards its pre-pandemic forecast in the coming years.
In terms of geography, California accounts for the largest share of the U.S. P2Y12 inhibitors market in terms of value. This is mainly attributed to the presence of leading healthcare institutions and a sizeable patient pool undergoing procedures in high volume centers located across major cities in the state. Florida is projected to emerge as the fastest growing regional market over the forecast period. This can be credited to the rising geriatric population who are more prone to cardiovascular diseases and thrombotic complications. The expanding healthcare infrastructure and continued migration are also supporting the market growth in Florida.
The Northeast region including states like New York, New Jersey and Pennsylvania concentrates significant market revenues as well. This is due to the presence of top academic medical centers, research institutes and availability of advanced treatment options especially in metropolitan areas. Overall the Southern and Western parts of the country will continue to provide lucrative opportunities for stakeholders in the U.S. P2Y12 inhibitors industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
