The fondaparinux market is expected to register a CAGR of 7.8% during the forecast period with a growing geriatric population and associated cardiovascular disorders.
- According to the World Health Organization, in 2016, 17.9 million people died due to heart-related diseases. It is the leading cause of death. The geriatric population is at high risk of cardiovascular disease. According to the American Heart Association, in 2019, the incidence rate of cardiovascular disease between age 60 and 79 years was 77.2% for men and 78.2% for women.
- Furthermore, the increasing research and development activities related to fondaparinux to broaden its application is expected to propel the fondaparinux market growth. However, lack of awareness among people regarding the deep venous thrombosis condition may obstruct the market growth.
Key Market Trends
Generics Market Segment is Expected to Hold a Major Market Share in the Fondaparinux Market
- The generics segment of the fondaparinux market is expected to be dominant due to the availability of drugs at a lower cost and its effectiveness. According to the study published in Progress in Molecular Biology and Translational Science, fondaparinux successfully exhibited the properties of factor XA inhibitor for preventing the clot formation after orthopedic surgery, deep vein thrombosis, and pulmonary embolism.
- Also, according to the data of 2019, Journal of Heart American Association, when fondaparinux was compared with other low molecular weight heparin, it showed superior efficacy in reducing venous thromboembolism.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the fondaparinux market with the growing burden of cardiovascular disorders and increasing product approvals. Deep Vein Thrombosis (DVT) is the condition wherein the clot formation takes place in deep veins, severity may lead to pulmonary embolism. According to the Cardiovascular Diagnosis and Therapy, in 2017, DVT and PE account for around 60,000 to 100,000 deaths in the United States. Furthermore, in 2017, Aurobindo Pharma Ltd, received a US FDA (Food & Drug Administration) approval for manufacturing the generic version of fondaparinux sodium injection. Hence, these factors are expected to drive the market in this region.
The market is consolidated and consists of few major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Mylan Inc., Aurobindo Pharma Ltd, Dr. Reddy's Laboratories Ltd, Jiangsu Hengrui Medicine Co. Ltd, and Scinopharm Taiwan Ltd.
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