Market Trends of Thrombosis Drugs Industry
Deep Vein Thrombosis (DVT) Segment is Expected to Register a Significant Growth during the Forecast Period
Deep vein thrombosis (DVT) is a blood clot in one of the large, deep veins that returns blood from the leg and rarely in the arm or heart. The Segment growth is driven by the increasing prevalence of chronic deep vein thrombosis and product launches by the key market players. In addition, increasing focus on developing low-cost drugs and a large patient pool contribute to the growth of the thrombosis drugs market.
According to a study published in the National Library of Medicine in August 2021, the prevalence of DVT in lower limbs is 1 per 1000 persons every year, with an annual incidence of DVT predicted to be 80 cases per 100,000 people. Additionally, per the same source, more than 200,000 people in the United States experience venous thrombosis yearly; 50,000 of these instances are exacerbated by pulmonary embolism. Thus, the growing prevalence of deep vein thrombosis is expected to drive segment growth over the forecast period.
Furthermore, the market players are focusing on introducing innovative products, further adding to the market growth. For instance, in June 2021, the United States Food and Drug Administration approved Pradaxa (dabigatran etexilate) oral pellets to treat deep vein thrombosis (DVT) and pulmonary embolism (PE) in children aged three months to under twelve. Moreover, DVT is often associated with old age, which is also expected to enhance the segment growth.
Thus, all factors above, such as the high prevalence of DVT and increasing product launches, are expected to boost the market growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to hold a significant share of the market owing to the prevalence of cardiovascular diseases and obesity, the upsurge in demand for progressive treatment options, the early adoption of new technologies, and an increase in the elderly population. Besides, the presence of a diverse patient pool and the increase in participation of domestic and foreign companies in the campaign in these regions is also projected to contribute to the market growth.
For instance, as per the data updated by the Trust for America's Health (TFAH) in September 2022, an estimated 19 states in the United States had obesity rates over 35% in 2022, which increased from 16 states in 2021. This is likely to impact the market growth in the region positively.
Additionally, a growing geriatric population that is more prone to cardiovascular diseases is expected to boost market growth. For instance, according to America's Health Rankings Senior Report published in 2021, the number of older adults living in the United States is significant and growing. Itt is anticipated that there will be 85.7 million adults in the country who are 65 years or older, in 27 years. Such a high disease prevalence, along with the aging population, is likely to increase the demand for advanced therapies, thereby contributing to market growth.
Moreover, according to the data updated by the Canadian Institute for Health Information in July 2022, it was estimated that about 2.4 million Canadians had heart disease in the current year. Thus, with the increasing burden of cardiovascular diseases across the country, the studied market is expected to witness strong growth, as it would lead to increased usage of thrombosis drugs for treatment.
Thus, all aforementioned factors such as the high prevalence of cardiovascular diseases and the growing geriatric population are expected to boost the market growth over the forecast period.
