Fondaparinux Market Size, Share, Industry, Forecast and outlook (2023-2030)
Global Fondaparinux Market is segmented By Type (Branded, Generic), By Application (Orthopedics, Cardiovascular, Others), By End User (Hospitals and Clinics, Diagnostic Centers, Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Fondaparinux Market Overview
"Fondaparinux Market" size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).
Fondaparinux is a synthetic anticoagulant, or blood thinner, used to prevent and treat blood clots in the legs, lungs, and other body parts. It works by hindering the activity of a specific enzyme in the blood called thrombin, which helps to prevent the formation of clots. Fondaparinux is administered by injection under the skin and is often used in combination with other medications to reduce the risk of blood clots.
Fondaparinux Market Dynamics
Technological advancements, the growing burden of cardiovascular disease, the increasing geriatric population, research and development activities and rising surgical procedures of knee & hip cases drive the global fondaparinux market growth.
Growing burden of cardiovascular disease drives the market growth
Ischemic heart disease and stroke are the primary causes of mortality and disability worldwide. Cardiovascular diseases (CVDs) are another important cause of disability. As per the article published in the Journal of American College of Cardiology, in 2022, 1.87 million (95% CI: 1.44-2.34 million) cardiovascular deaths and 3.47 million (95% CI: 2.93-4.00 million) deaths overall were attributable to reduced kidney function. Nearly all non-high-income nations continue to experience an increase in the burden of CVD, and frighteningly, the age-standardized rate of CVD has started to rise in several areas where it had been dropping in high-income countries.
In addition, unhealthy eating, inactivity, usage of tobacco products, and abusing alcohol are the main behavioral risk factors for heart disease and stroke. Individuals may experience elevated blood pressure, elevated blood glucose, elevated blood lipids, as well as overweight and obesity as a result of behavioral risk factors.
In addition, in February 2022, the Joint Procurement Office (JPO) of China issued a notice to collect drug information related to the seventh batch of volume-based procurement (VBP) of fondaparinux, which will boost China’s national bulk buying of drugs.
The side effects associated with fondaparinux will hamper the growth of the market
However, Fondaparinux is an anticoagulant medication used to prevent and treat blood clots. Some common side effects of fondaparinux include bleeding, bruising, red or purple spots on the skin, and stomach or abdominal pain. Other possible side effects include hematoma, pain, swelling and redness at the injection site, and allergic reactions.
COVID-19 Impact Analysis on Fondaparinux Market
The COVID-19 pandemic has had a positive impact on the fondaparinux market. The World Health Organization recommends using pharmacological prophylaxis with heparin for venous thromboembolism prevention in COVID-19 patients. The once-daily dosing regimen of low-molecular-weight heparins or fondaparinux should be preferred over unfractionated heparin to reduce personal protective equipment use and exposure of healthcare workers.
The COVID-19 pandemic has likely had an impact on the market for fondaparinux. This medication is used to prevent blood clots and is often given to patients who are critically ill or hospitalized, such as those with COVID-19. As a result, there may have been an increased demand for fondaparinux during the pandemic.
Fondaparinux Market Segment Analysis
The cardiovascular segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The cardiovascular segment accounts for the highest market share. Fondaparinux is a synthetic anticoagulant medication used to prevent and treat blood clots in the veins of the legs, lungs and other organs. It is a factor Xa inhibitor, which prevents the formation of thrombin, a clotting factor in the blood, by binding to and inhibiting factor Xa. This lowers the risk of deep vein thrombosis (DVT) and pulmonary embolism (PE), serious complications that can occur after certain types of surgery, such as hip or knee replacement.
Fondaparinux is also used in treating patients with acute coronary syndromes (ACS), such as unstable angina and non-ST-segment elevation myocardial infarction (NSTEMI). It is usually administered in subcutaneous injection once daily, and it is preferred in patients with renal impairment because it does not require dose adjustments.
Fondaparinux is a highly effective anticoagulant and is as safe and effective as other anticoagulants such as enoxaparin and warfarin. However, it has a longer half-life than other anticoagulants, which means it stays in the body longer and has a lower risk of bleeding. It is also less likely to interact with other medications, making it an attractive option for patients taking multiple medications.
Fondaparinux Market Geographical Analysis
Asia Pacific region holds the largest market share of the global Fondaparinux market
Asia Pacific dominates the market for fondaparinux and is expected to show a similar trend over the forecast period. The rising prevalence of heart disease and active regional players in the Asia Pacific region drives the market.
As per the article published in the World Journal of Cardiology in 2022, acute coronary syndrome (ACS) is one of the main causes of fatality worldwide. Compared to other countries, South Asians have a higher rate of myocardial infarction (MI) at a younger age (average age 53 vs. average age 58.8 years). In the Indian population, ACS also presents a decade earlier than the West. Furthermore, India has the greatest ACS load in the world, with a burden of 3 to 4 times that of White Americans, six times that of Chinese, and 20 times that of Japanese people. ACS is responsible for 3 million fatalities annually in India, accounting for 25% of all deaths. Anti-coagulant therapies form the cornerstone in the management of ACS. The rising burden of heart disease in the Asia Pacific region drives the market for fondaparinux.
Fondaparinux Market Competitive Landscape
The fondaparinux market is a moderately competitive presence of local and global companies. Some of the key players contributing to the market's growth are Dr. Reddy's Laboratories, Inc., GlaxoSmithKline Plc, Mylan N.V., Pfizer, Inc., Bayer Healthcare AG, Boehringer Ingelheim, Sanofi S.A., Abbott, Aspen Holdings, and Bristol-Myers Squibb Company, among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the growth of the fondaparinux market globally.
Dr. Reddy’s Laboratories, Inc.
Overview:
Dr. Reddy’s Laboratories, Inc was founded in 1984 and headquartered in India. The company provides products and services spread across its core businesses of Active Pharmaceutical Ingredients (API), generics, branded generics, biosimilars and over-the-counter pharmaceutical products worldwide.
Product Portfolio:
Fondaparinux Sodium Injection: It is used for patients having orthopedic procedures on their lower limbs, such as hip replacement, knee surgery, or prophylaxis against venous thromboembolic events (VTE), for up to a month following surgery.
The global fondaparinux market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.