Antifibrinolytic Drugs Market to Incur Steady Growth $19,333 million by 2026 | CAGR 4.5%
The global antifibrinolytic drugs market size is expected to reach $19,333 million by 2026, registering a CAGR of 4.5% from 2019 to 2026, in terms of value.
Antifibrinolytic is the class of drugs that is widely used to inhibit fibrinolysis by stopping activation of the proenzyme plasminogen to plasmin. This intrusion is crucial for averting clot degradation in areas rich in the fibrinolysis prone areas such as oral cavity, nasal cavity, and female reproductive tract. Approved antifibrinolytic drugs include Epsilon aminocaproic acid, Tranexamic acid, Amicar, aminocaproic acid, aprotinin, and Cyklokapron. In addition, these drugs find their application in surgeries such as cardiovascular surgeries, neurosurgeries, and dental surgeries. Furthermore, antifibrinolytic drugs are used by women to control heavy menstrual flow.
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Considerable increase in road accidents, rise in medical surgeries including cardiac, and dental, and surge in prevalence of angioedema are the major factors that drive the antifibrinolytic drugs market growth. Antifibrinolytic drugs play a vital role in averting clot lysis and thereby, blood loss.
The antifibrinolytic drugs market is segmented on the basis of indication, end-users, and region. On the basis of indication, it is classified into gynecology, hereditary angiedema, fibrinolytic response testing, surgeries, and others. By end user, it is divided into hospitals & clinics, ambulatory surgical centers, and healthcare specialty process. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the gynaecology segment accounted for majority of the market share in 2018 and is expected to exhibit a prominent growth rate in the near future, owing to the increased adoption of these drugs to prevent menorrhagia i.e. heavy menstrual flow. Further, these drugs are manufactured to reduce bleeding by inhibiting endometrial clot-dissolving enzymes in the uterine lining. Tranexamic acid (TXA) is the most widely used drug for controlling menorrhagia.
By end user, the hospitals & clinics segment dominated the antifibrinolytic drugs market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to the increased usage of these drugs in hospitals as most of the surgeries such as cardiovascular and neurosurgeries are performed in hospitals.
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North America accounted for most of the Antifibrinolytics Drug Market share in 2018, and is anticipated to continue this trend during the forecast period. This is attributed to the increased adoption of these drugs by women to control heavy menstrual flow. Moreover, significant surge in surgeries in this region propels the market growth. However, the Asia-Pacific region is anticipated to grow at the fastest rate due to surge in road accidents and increased usage of these drugs by women to control heavy menstrual flow.
The Major Key Players Are:
• Acic Fine Chems
• Xanodyne Pharmaceuticals
• Aurobindo Pharma Ltd.
• Amerigen Pharms Ltd
• Pfizer (GenMed)
• Zydus Cadila
Key Findings of the Study:
1. By indication, the gynecology segment accounted for the highest Antifibrinolytics Drug Market share of 28% in 2018, and is anticipated to grow at the fastest rate during the forecast period.
2. By region, North America was the major shareholder and accounted for the highest share of 42% in 2018.
3. Asia-Pacific is expected to grow at a CAGR of 6.1% during the forecast period.
4. By end user, the hospital & clinics segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
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