Anti-Coagulants - Iceland

Iceland

Highlights

In Iceland, the revenue in the Anti-Coagulants market is estimated to reach US$7.14m in 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 8.61%, leading to a market volume of US$10.79m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with US$16.74bn in 2024.
Despite its small population, Iceland has seen a significant increase in the demand for anti-coagulants, driven by a growing elderly population and rising awareness about cardiovascular health.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Anti-Coagulants are a vital part of the pharmaceutical industry, commonly used to prevent blood clots. Iceland, a small island nation in the North Atlantic, has seen a steady growth in the Anti-Coagulants market in recent years.

Customer preferences: The Icelandic population has a high life expectancy and an aging population, which has led to an increase in the prevalence of chronic diseases such as cardiovascular diseases. This has resulted in a growing demand for Anti-Coagulants, as they are commonly used to prevent blood clots in patients with such diseases.

Trends in the market: The Anti-Coagulants market in Iceland is dominated by oral anticoagulants, which are more convenient and have fewer side effects compared to traditional anticoagulants. The market has seen a shift towards direct oral anticoagulants (DOACs), which are more effective and have a lower risk of bleeding compared to traditional anticoagulants. The increasing adoption of DOACs is expected to continue, driven by their better safety profile and ease of use.

Local special circumstances: Iceland has a small population of just over 360,000 people, which limits the size of the Anti-Coagulants market. However, the country has a well-developed healthcare system, which provides universal access to healthcare services. The government has also implemented policies to promote the use of generic drugs, which has helped to reduce the cost of Anti-Coagulants for patients.

Underlying macroeconomic factors: Iceland has a high-income economy, with a strong social welfare system. The country has a well-educated population, which has contributed to the development of a highly skilled workforce in the healthcare sector. The government has also implemented policies to promote research and development in the pharmaceutical industry, which has helped to attract investment from multinational pharmaceutical companies.In conclusion, the Anti-Coagulants market in Iceland is expected to continue to grow, driven by the increasing prevalence of chronic diseases and the shift towards more effective and safer DOACs. The small size of the market and the government's policies to promote the use of generic drugs will continue to be key factors influencing the market's development.

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.