Ticagrelor is an oral, reversible P2Y12 platelet aggregation inhibitor that is used with aspirin to reduce the rate of thrombotic cardiovascular events in patients with acute coronary syndrome or a history of myocardial infarction. Ticagrelor prevents blood clots from forming by blocking platelet activation and aggregation. Common indications for ticagrelor include myocardial infarction, percutaneous coronary intervention, and unstable angina.

The Global Ticagrelor Market Size is estimated to be valued at US$ 1481.28 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the key drivers fueling growth of the ticagrelor market is the increasing prevalence of cardiovascular diseases across the globe. According to the American Heart Association, cardiovascular disease is the number one cause of death globally, with over 17.6 million deaths each year by cardiovascular disease worldwide. Ticagrelor is an effective treatment for reducing cardiovascular events in high-risk patients. Thus, the rising disease burden of cardiovascular diseases is expected to boost growth of the ticagrelor market over the forecast period. Additionally, frequent product approvals for new indications is also expected to propel the market growth during the forecast period. For instance, in September 2021, the U.S. Food and Drug Administration (FDA) approved AstraZeneca plc’s ticagrelor for reduction of cardiovascular death in high-risk patients with a history of myocardial infarction.

SWOT Analysis

Strength: Ticagrelor demonstrates strong antiplatelet effects by reversibly binding to the P2Y12 receptor on platelets to prevent platelet activation and aggregation. Ticagrelor has shown superior clinical efficacy over clopidogrel in reducing cardiovascular events such as heart attacks and strokes in patients with acute coronary syndrome or history of myocardial infarction without increasing overall bleeding risks. Ticagrelor's quick onset of action within 30 minutes of administration and its effectiveness for up to a year enable physicians to effectively manage patients' antithrombotic therapy.

Weakness: Ticagrelor requires twice-daily dosing compared to once-daily dosing of clopidogrel. This dosing schedule poses challenges with medication adherence. Ticagrelor is also more expensive than clopidogrel which impacts its market penetration in price-sensitive regions. Some rare but serious adverse events include intracranial hemorrhage and dyspnea have been reported with ticagrelor therapy.

Opportunity: Significant market potential exists in expanding ticagrelor's indications beyond acute coronary syndrome and history of myocardial infarction to include other cardiovascular and thrombotic conditions. Novel drug delivery systems aimed at developing once-daily ticagrelor formulations can help address current compliance issues related to twice-daily dosing. Emerging economies with growing disease burdens but price constraints offer opportunities through strategic partnerships and licensing agreements.

Threats: Intense competition exists from cheap generic versions of clopidogrel and other newer P2Y12 receptor antagonist drugs entering the market. Safety concerns continue to plague ticagrelor and any future reports of serious adverse events can negatively impact its growth prospects. Patent expirations of branded ticagrelor will enabled market entry of lower-cost generics further increasing competition.

Key Takeaways

The global ticagrelor market is expected to witness steady growth over the forecast period supported by its clinical advantages over clopidogrel and increasing adoption rates worldwide. The global Ticagrelor Market is estimated to be valued at US$ 1481.28 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2024 to 2031.

Regionally, North America currently dominates global sales owing to high disease awareness, diagnostic rates, and rapid uptake of premium therapies. Going forward, Asia Pacific is anticipated to emerge as the fastest growing regional market driven by expanding patient pools, growing healthcare expenditures, and improving access to innovative medicines across major countries.

Key players operating in the ticagrelor market are Atlas Roofing Corporation, BASF SE, Johns Manville, Duro-Last, Inc., E. I. Du Pont De Nemours, Inc., Owens Corning, Sika AG, Standard Industries Inc., and The Dow Chemical Company. Pricing pressure from generics and newer P2Y12 drugs remain major challenges. Consequently, companies are engaged in new drug delivery research and expanding ticagrelor's clinical profile to offset competition. Partnerships with local players also allow better access to high growth markets.

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