Middle East Antithrombotic Drugs Market Analysis

The Middle East Antithrombotic Drugs Market size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Middle East Antithrombotic Drugs Market Analysis Executive Summary

Most of the time blood circulates through our arteries and veins without any problems however it is not the same when a clot or a thrombus hinders the smooth flow of blood resulting in thrombosis which may lead to severe conditions including death. Some of the diseases that are associated with clots in the blood vessels include heart attack and stroke among others. Together these disorders are responsible for more deaths and disability than any other illness in the developed world. Deep vein thrombosis and pulmonary embolism affect approximately 1% of adults per year. Prices rising dramatically after approximately 45 years of age, and slightly higher for males than for females over the age of 45. The normal management of the acute DVT includes the use of blood-thinning medication (anticoagulants) like heparin and warfarin (Coumadin).

Market growth factors include increase in cardiovascular diseases, increasing population of aging people, development in technology, and increase in the accessibility of healthcare in developing nations. However, there are key issues affecting the market including; strict government regulations, high costs of drugs, product safety among others, and rivalry by traditional therapies and generics. Governments’ policies, inconsistent insurance regulations, and patient support programs remain vital factors that define the market prospects and existing issues.    

Middle East Antithrombotic Drugs Market Dynamics

Market Growth Drivers

The overall market for antithrombotic drugs is characterized by constant growth, and this process is driven by several factors. Whereas, cardiovascular diseases such as the deep vein thrombosis and the atrial fibrillation are on the rise and widely affecting the ageing population hence the need for these drugs. Another reason for this is the availability of new forms of oral anticoagulants (NOACs) that are ahead of old generation drugs such as warfarin. Moreover, more money has been invested in research and development, which has resulted in new and better treatments. Greater consciousness and upgraded diagnostic measures are making therapies more accessible whereas, advancement in drug delivery technologies is making treatments more effective and less resistant. These factors indicate the potential for strong overall growth in this market for antithrombotic drugs.

Opportunity

These are some of the significant opportunities that hold promise for the antithrombotic drugs market in the near future. The emerging classes of drugs like NOACs including apixaban and rivaroxaban that pose new features including few dietary restrictions and no requirement to monitor the drug levels in the patient’s body frequently also known as routine monitoring are some of the drivers for this market. Also, the amplified rate of cardiovascular diseases and an aging population create a demand for efficacious treatments. There are collective expansion prospects in rapidly developing regions like, Asia-Pacific because of the advancing healthcare needs and literacy. Other factors contributing to market prospects include: new and innovative technologies in drug delivery and formulation, a shift towards preventive medicine, and continuous research and innovation. Promotive regulations that enable approval of new therapies also concerns a positive outlook in the antithrombotic drugs market.

Market Restraints

There are several challenges that exist in the antithrombotic drugs market which may affect its growth. Some regulatory agencies such as the FDA and EMA have strict regulatory measures that slow down the rate at which new drugs are developed and approved, and this in turn has a bearing on the costs of development. High prices of novel oral anticoagulants may pose a threat to patients’ access to medication and compliance towards adherence especially in areas with little insurance coverage. Risk factors such as bleeding issues may result in more conservative prescribing and make therapy regimens challenging. Further, the market faces competition from other anticoagulant medication like warfarin and generic drugs, and low health literacy about thrombotic disorders may lead to underdiagnosis and, therefore, undertreatment. These challenges, therefore, call for more innovation, enhanced education, and favourable policies for the development of the antithrombotic drugs market.

Competitive Landscape Antithrombotic Drugs Market in Middle East

Key Players

• Bristol-Myers Squibb Company
• AstraZeneca plc
• Eli Lilly and Company
• C.H. Boehringer Sohn AG & Co.
• Johnson & Johnson
• Sanofi S.A.

Recent Developments

May 2023, Milvexian Granted U.S. FDA Fast Track Designation for All Three Indications Under Evaluation in Phase 3 Librexia Program: Ischemic Stroke, Acute Coronary Syndrome and Atrial Fibrillation.

2024, Ciraparantag is a promising new universal anticoagulant reversal agent currently being investigated in a phase 3 trial. Phase 1 and 2 trials show that ciraparantag is an antidote for both heparins and DOAC with a very fast onset of action, no renal clearance and no known drug-drug interactions.

Healthcare Policies and Regulatory Landscape for Antithrombotic Drugs Market in Middle East

Policy changes and Reimbursement scenario

Governments are increasingly recognizing the importance of managing thrombotic disorders, leading to the implementation of health policies that promote the use of antithrombotic drugs. Authorities like the FDA and EMA are improving their guidelines to address the novelty and approval of NOACs and other antithrombotic drugs. There is increased effort by governments and health organizations to support research and development of new concepts in antithrombotic drugs. It must be noted that the process of reimbursement of antithrombotic drugs depends from one geographical location or insurance plan to another. While the study found several areas with extensive coverage for NOACs and other antithrombotic medications, in some of them there may be limited coverage for these medicines and thereby limiting the access of these patients. Several studies have documented that healthcare antithrombotic medications have been pro Prescription through promotion of reimbursement policies in many regions. Several pharmaceutical companies have established patient assistance programs in order to decrease the out-of-pocket expenses on antithrombotic drugs.