Anti-Coagulants - South Korea

South Korea

In South Korea, the Anti-Coagulants market is estimated to see a significant growth in revenue.
By 2024, the projected revenue is expected to reach €0.37bn.
Looking ahead, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 8.25%.
This growth trajectory will lead to a market volume of €0.55bn by 2029.
When compared globally, United States stands out as the country generating the highest revenue in the Anti-Coagulants market.
In 2024, United States is predicted to generate a revenue of €15,520.00m.
South Korea is experiencing a growing demand for novel oral anticoagulants due to their convenience and efficacy.

Key regions: Australia, Japan, United States, Germany, Europe

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Analyst Opinion

The Anti-Coagulants market in South Korea is experiencing significant growth in recent years.

Customer preferences: South Korea has an aging population, and as people age, they become more susceptible to conditions that require anti-coagulants. Additionally, there is a growing awareness of the importance of preventative healthcare, which has led to an increase in the number of people seeking treatment for conditions such as atrial fibrillation, deep vein thrombosis, and pulmonary embolism.

Trends in the market: One of the major trends in the Anti-Coagulants market in South Korea is the shift towards newer oral anti-coagulants (NOACs) such as apixaban, dabigatran, edoxaban, and rivaroxaban. These drugs have several advantages over traditional anti-coagulants such as warfarin, including a lower risk of bleeding and fewer drug interactions. As a result, NOACs are becoming increasingly popular among patients and physicians alike.Another trend in the market is the growing use of anti-coagulants for indications beyond the traditional ones. For example, anti-coagulants are now being used to prevent stroke in patients with non-valvular atrial fibrillation, as well as to prevent deep vein thrombosis in patients undergoing major orthopedic surgery.

Local special circumstances: South Korea has a well-developed healthcare system that provides universal coverage to its citizens. This has led to a high level of access to healthcare services, including anti-coagulant therapy. Additionally, the government has implemented several initiatives to promote the use of NOACs over traditional anti-coagulants, including the inclusion of NOACs in the national drug formulary and the provision of financial incentives to physicians who prescribe them.

Underlying macroeconomic factors: South Korea is one of the largest economies in Asia and has a high level of healthcare spending per capita. This has enabled the country to invest in the development of its healthcare infrastructure and to provide high-quality healthcare services to its citizens. Additionally, South Korea has a strong pharmaceutical industry that is focused on the development of innovative drugs, including anti-coagulants. This has led to the availability of a wide range of anti-coagulant therapies in the country, including both traditional and newer oral anti-coagulants.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.