According to a new report published by Allied Market Research, Argatroban Market . The global argatroban market is segmented based on product, application, and geography. On the basis of the product, the market is bifurcated into argatroban powder and argatroban injection. Applications covered in this study include heparin-induced thrombocytopenia (hit), percutaneous coronary intervention, cerebral arterial thrombosis, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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According to Porter’s Five Forces analysis, the bargaining power of the supplier is high as products are highly differentiated. High switching cost leads to the low bargaining power of buyers. Threat from substitutes is low as few substitutes are available in the market. Many competitors with high exit barriers lead to intense competition in the market. Threat from new entrants is low as brand names are well known and profitability requires economies of scale. SWOT analysis helps in determining the internal and external environmental factors, which would help in strategic business planning. Analysis of key players and their strategies help in developing a market entry and expansion strategy.
Key Takeaways:
- Growing Demand: The market for Argatroban was expected to experience steady growth due to the increasing incidence of conditions that require anticoagulant therapy. This includes patients with heparin-induced thrombocytopenia (HIT) and those undergoing percutaneous coronary intervention (PCI).
- HIT Treatment: Argatroban is a preferred treatment option for HIT, a potentially life-threatening condition that develops in some patients who receive heparin therapy. The demand for Argatroban is driven by the need for an effective and safe alternative to heparin in these cases.
- Cardiovascular Applications: The use of Argatroban in cardiovascular procedures, especially during PCI, has contributed to its market growth. It helps prevent blood clots during these procedures, reducing the risk of adverse events like myocardial infarctions.
- Hospital Settings: Argatroban is primarily administered in hospital settings, particularly in intensive care units and cardiac care units. The market relies on hospital purchases for its revenue.
- Competition: The Argatroban market has faced competition from other anticoagulant drugs, such as bivalirudin and fondaparinux. Manufacturers and suppliers may use pricing strategies and product differentiation to maintain market share.
- Generic Versions: Generic versions of Argatroban have been introduced into the market, potentially impacting the pricing dynamics. Generic drugs often provide a more cost-effective option for hospitals and healthcare providers.
- Regulatory Environment: Regulatory approvals and compliance are critical factors in the Argatroban market. Companies must meet quality and safety standards to gain and maintain market access.
- Market Expansion: The market for Argatroban may expand as new clinical applications and indications are explored. Research and development efforts may lead to the discovery of additional uses for this anticoagulant.
KEY BENEFITS
- This report offers a detailed quantitative analysis of the current market trends to identify the prevailing opportunities.
- The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.
- The global market is analyzed with respect to product type, application, and geography.
- In-depth analysis based on geography facilitates to analyze the regional market to assist in strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
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Competitive Landscape:
- Teva Pharmaceutical Industrie
- Mitsubishi Tanabe Pharma
- MIDAS PHARMA GMBH
- Eagle Pharmaceuticals
- WEST-WARD
- Fresenius Kabi
- GlaxoSmithKline
- AUROBINDO PHARMA LIMITED
Market Segments :
By Product :
- Argatroban Powder
- Argatroban Injection
MARKET BY APPLICATION
- Heparin-induced Thrombocytopenia (HIT)
- Percutaneous Coronary Intervention
- Cerebral Arterial Thrombosis
- Others
MARKET BY GEOGRAPHY
- North America (U.S., Canada, Mexico)
- Europe (France, Germany, Spain, UK, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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