Anti-Coagulants - Sri Lanka

Sri Lanka

Highlights

The Anti-Coagulants market in Sri Lanka is expected to achieve a projected revenue of US$6.59m in the year 2024.
Furthermore, it is anticipated that the market will exhibit an annual growth rate (CAGR 2024-2029) of 4.85%, leading to a market volume of US$8.36m by 2029.
When compared to other countries worldwide, United States is projected to generate the highest revenue in the Anti-Coagulants market, amounting to US$16.74bn in the year 2024.
Sri Lanka's anti-coagulant market is witnessing a surge in demand due to the aging population and increasing prevalence of cardiovascular diseases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Anti-Coagulants in Sri Lanka has been on the rise in recent years.

Customer preferences: The increasing prevalence of lifestyle diseases such as hypertension, diabetes, and obesity has led to a rise in the number of patients with cardiovascular diseases in Sri Lanka. As a result, there has been a growing demand for Anti-Coagulants among patients suffering from these diseases. Patients are increasingly preferring Anti-Coagulants due to their effectiveness in preventing blood clots and reducing the risk of strokes and heart attacks.

Trends in the market: The Anti-Coagulants market in Sri Lanka is witnessing a shift towards novel oral anticoagulants (NOACs) from traditional anticoagulants such as warfarin. NOACs are more convenient and offer better clinical outcomes than traditional anticoagulants. They also have fewer side effects and do not require regular monitoring. This shift towards NOACs is expected to continue in the coming years, driving the growth of the Anti-Coagulants market in Sri Lanka.

Local special circumstances: Sri Lanka has a rapidly aging population, which is expected to drive the demand for Anti-Coagulants in the country. The elderly population is more prone to cardiovascular diseases and is likely to require Anti-Coagulants to manage their condition. Additionally, the country has a high incidence of dengue fever, which can cause bleeding disorders. Anti-Coagulants are often used to manage bleeding in patients with dengue fever, further driving the demand for these drugs in the country.

Underlying macroeconomic factors: Sri Lanka has a developing healthcare sector, which is expected to drive the growth of the Anti-Coagulants market in the country. The government has been investing in improving healthcare infrastructure and increasing access to healthcare services. This is likely to increase the number of patients seeking treatment for cardiovascular diseases, further driving the demand for Anti-Coagulants. Additionally, the country has a growing middle class, which is increasingly able to afford expensive treatments such as Anti-Coagulants. This is expected to further boost the growth of the Anti-Coagulants market in Sri Lanka.

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.