Warfarin is classified as an anticoagulant which is used to prevent the formation of blood clot and migraine. It is a vitamin K antagonist that inhibits its production by the vitamin K epoxide reductase.
Atrial fibrillation is representing the largest market share in the clinical application segment for the warfarin market. As per the latest information provided by the National Institute of Health (NIH), the global prevalence rate of atrial fibrillation has increased by 33% over the last 2 years. DVT/PE will be highlighting comfortable market growth in the near future on account of the growing prevalence rate in the elderly population worldwide. According to the recent information provided by the International Society on Thrombosis and Haemostasis (ISTH), annually 10 million new cases are reported worldwide to be suffering from venous thromboembolism. The clinical manifestations associated with venous thromboembolism are shortness of breath, chest pain swelling of foot and ankles, pain and tenderness in the calf region, lightheadedness, etc.
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Hospital pharmacy is currently leading the distribution channel segment for the warfarin market. Severe adverse events associated with warfarin such as throbbing headache, coughing of blood, joint pain makes it imperative for the accurate compounding of warfarin in the presence of a hospital pharmacist. Retail pharmacy is expected to garner impressive market performance during the forecast period owing to the availability of affordable essential medicines due to government subsidy and its capacity to provide medicinal requirements to households residing in remote locations.
North America is presently dominating the regional segment for the warfarin market. The growing incidence of cardiac diseases primarily drives the warfarin market growth in the region. According to the latest information provided by the Center for Disease Control and Prevention (CDC), the prevalence rate of DVT/PE is 1 to 2 per 1000 individuals annually in the United States. Domicile of key players such as Bristol-Myers Squibb Company, Apotex Corporation, Upsher-Smith Laboratories, LLC. etc. further consolidates the market growth in the region. Europe is placed 2nd in the regional segment for the warfarin market on account of the growing incidence of atrial fibrillation across all age groups in the region. Furthermore, the affordable reimbursement scenario associated with the medicinal use of warfarin determines the market growth in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment for the warfarin market owing to the effective implementation of treatment guidelines regarding cardiovascular diseases by the local healthcare agencies and the flourishing generic drugs market.
Pharmaceutical manufacturers actively engaged in the production of warfarin are Bristol-Myers Squibb Company, Apotex Corporation, Upsher-Smith Laboratories, LLC., Zydus Healthcare., Cipla Limited., Orion Pharma., Teva Pharmaceutical Industries Limited., Mylan Pharmaceutical Industries Limited., Taro Pharmaceutical Industries Ltd and IPCA Labs Ltd.
Key Market Movements:
Rising prevalence of atrial fibrillation worldwide
Significant increase in the number of individuals suffering with deep vein thrombosis across the globe
Affordable reimbursement scenario for the medicinal use of warfarin products further proles the market growth