The global antifibrinolytic drugs market was valued at $13,593 million in 2018 and is expected to reach $19,333 million by 2026, registering a CAGR of 4.5% from 2019 to 2026. Antifibrinolytic drugs are used to prevent fibrinolysis or lysis of blood clots or thrombus. Fibrinolysis is a process in which stimulated plasminogen removes excess fibrin to promote fibrin clot formation and wound healing. Further, tissue plasminogen activators and other plasminogen activators are the first line mediators in lysis therapy. Blockers of fibrinolysis act when plasminogen is converted to plasmin, by reversely blocking the lysine binding sites of plasmin or by active inhibition of plasmin via serine protease inhibition. The antifibrinolytic drugs are widely used for inhibition of fibrinolysis and thus, are referred to as lysine analogues. The drugs are used to control massive hemorrhage and for other coagulation disorders. Moreover, antifibrinolytic agents are widely used in the management of mucosal bleeding where there is high fibrinolytic potential such as in oropharynx, nose, GI tract, and uterine-vaginal lining. In hemophilia, antifibrinolytic agents such as tranexamic acid or epsilon aminocaproic acid are generally used in the context of oral bleeding or dental surgery. Most common antifibrinolytic drugs used include tranexamic acid and ε-aminocaproic acid, and the serine protease inhibitor, aprotinin.
Significant rise in road accidents, accidental trauma, rise in medical surgeries, surge in incidence of angioedema, and growth in high-risk geriatric population across the globe are the major factors that drive the antifibrinolytic drugs market growth. For instance, trauma is the leading cause of mortality in people aged 1 to 65 years, according to the U.S. National Trauma Institute. In addition, as per the WHO, approximately 1.35 million people die each year as a result of road traffic crashes. Antifibrinolytic drugs play a vital role in averting clot lysis and thereby, loss of blood. Further, these drugs are also widely used to prevent heavy menstrual bleeding in women, also known as menorrhagia. These drugs are also used after surgeries such as cardiovascular surgeries and neurosurgeries to prevent enormous blood loss from patient’s body. Considerable surge in prevalence of bleeding disorders propel the antifibrinolytic drugs market growth. However, high cost of these drugs hamper the market growth. Furthermore, increase in research & development for developing novel innovative antifibrinolytic drugs is anticipated to create new opportunities for the market.
Global Antifibrinolytic Drugs Market Segmentation
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.
Indication segment review
By indication, the gynecology segment accounted for majority of the antifibrinolytic drugs 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.
Surgeries segment is projected as one of the most lucrative segments.
End user segment review
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. However, the trauma centers segment is anticipated to grow at the fastest rate owing to the significant increase in road accidents across the globe. Road traffic injury death rates are highest in the African region. Even within high-income countries, people from lower socioeconomic backgrounds are more likely to be involved in road traffic crashes.
By End User
Trauma Centers is projected as one of the most lucrative segments.
North America accounted for majority of the 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 rise in surgeries in this region propels the market growth. For instance, in 2018, there were a total of 377,763 cardiovascular surgeries performed in North America. However, the Asia-Pacific region is anticipated to grow at the fastest rate during the forecast period, owing to surge in road accidents in this region. For instance, as per the WHO, more than 90% of road traffic deaths occur in low- and middle-income economies.
Asia-Pacific region would exhibit the highest CAGR of 6.1% during 2019-2026.
Comprehensive competitive analysis and profiles of major market players such as Acic Fine Chems, Xanodyne Pharmaceuticals, Aurobindo Pharma Ltd., Akorn, Amerigen Pharms Ltd, Mylan, Pfizer (GenMed), Sanofi, Zydus Cadila, and Takeda are provided in this report.
Key Benefits for Stakeholders:
- The antifibrinolytic drugs market share and analysis is based on a comprehensive analysis of key developments in the antifibrinolytic drugs industry.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the global market.
- The study provides an in-depth analysis of the market trends to elucidate the imminent investment pockets.
- The global antifibrinolytic drugs market trends are studied from 2018 to 2026.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global antifibrinolytic drugs market from 2019 to 2026 is provided to determine the market potential.
Antifibrinolytic Drugs Market Report Highlights
By End User
Key Market Players
Mylan N.V., Ferring Holding SA, Novartis International AG (Sandoz), Takeda Pharmaceutical Company Limited, Akorn Inc., Vitruvias Therapeutics Inc., Pfizer Inc., Bayer AG, Sanofi S.A., Aurobindo Pharma Limited
Antifibrinolytic drugs or agents are used in specific situations or in combination with clotting factor replacement to treat hemophilia. These prevent the breakdown of blood clots by counteracting chemicals in the mucous membrane. Antifibrinolytics are increasingly being used in operations associated with high risk of bleeding. These drugs are useful in the management of optimal coagulation.
The antifibrinolytic drugs market is anticipated to witness a steady growth in the future, owing to its increased usage in patients suffering from hemophilia. In addition, surge in road accidents, accidental traumas, and medical surgeries further contribute to the market growth. However, high cost of these drugs and stringent reimbursement scenario is expected to hamper the growth in the future. Moreover, North America dominated the market in 2018, owing to the surge in cardiovascular surgeries and awareness among women toward usage of these drugs to prevent heavy menstrual flow. Asia-Pacific is anticipated to grow at the fastest rate in the future, owing to significant surge in the number of road accidents.