Impact of Covid-19
Due to the COVID-19 pandemic the pharmaceutical production plants were shut down in the year 2020 which affected the growth of the anisindione market. Due to the import-export supply chain disruption, the availability of raw materials declined which further affected the market growth. Furthermore, considering the new normal condition and reopening of several industries in various regions, it is estimated that the market for anisindione will return to normal conditions in the forecast period (2021-2026).
Anisindione Market Segment Analysis – By Product Type
Oral Drugs held the largest share in the anisindione market in 2020. During the course of heparin, oral drugs are used to prevent the progression or recurrence of acute deep vein thrombosis or pulmonary embolism. Also, oral drugs are good at preventing venous thromboembolism in individuals having orthopaedic or gynecological surgery, as well as systemic embolization in patients who have had a heart attack, have artificial heart valves, or have chronic atrial fibrillation. Furthermore, the increasing usage of oral anticoagulants drugs is effective in the prevention and treatment of a wide range of thromboembolic diseases. Thus, rising usage of oral drugs would further drive the growth of the market over the forecast period.
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Anisindione Market Segment Analysis – By Application
Protein Hydrolysis held the largest share in the anisindione market in 2020and is projected to grow at a CAGR of 6.54% during 2021-2026. Major growth factors such as the modification and developments of features in food proteins, as well as the reduction in feed costs for protein hydrolysis enzymes, are expected to fuel demand for these enzymes. Other reasons, such as the increased use of protease enzymes in the reduction of phosphorus pollution and nitrogen content, are expected to contribute to the market’s expansion. However, the market’s growth is likely to be hampered by reasons such as the restricted number of applications of these enzymes in food applications and the increased use of chemicals as a substitute. Therefore, the increasing usage of anisindione in protein hydrolysis is estimated to drive the growth of the market.
Anisindione Market Segment Analysis – By Geography
The Europe region held the largest share of more than 37% in the anisindione market in 2020. Globally, the region’s growth in the market is mainly due to the rising investments in the healthcare and pharmaceutical sector. Rising investments for pharmaceutical industry in emerging economies such as UK, Germany, France, and Italy are increasingly driving the growth of the anisindione market. According to the European Federation of Pharmaceutical Industries and Association, in 2019, Europe accounted for 22.9% of world pharmaceutical sales. According to IQVIA (MIDAS May 2020), 18.4% of sales of new medicines launched during the period 2014-2019 were from the European market. Thus, with the rising growth of the pharmaceutical industry, the anisindione market is anticipated to increase in the forecast period.
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Anisindione Market Drivers
Rising Growth of Arterial and Venous Thrombosis Among Individuals
Thrombosis occurs when blood clots block the blood vessels. Veins transport blood back to the heart from the rest of the body. Increasing disease or injury to the leg veins, fracture, and consumption of medicines that increase the risk of clotting (such as certain birth control medicines) result in venous thrombosis. In recent years, rising venous thrombosis among people have raised the demand for anisindione. For instance, according to the Data & Statics of Centers for Disease Control and Prevention as of February 7, 2020, the exact number of people afflicted by DVT/PE(venous thrombosis) in the United States, is up to 900,000 people (1 to 2 per 1,000) impacted each year. Similarly, when a blood clot plugs an artery, it is known as arterial thrombosis. Arteries transport oxygen-rich blood from the heart to the rest of the body. With the rising arterial and venous thrombosis among individuals it can be estimated that the demand for anisindione would increase which would further drive the market growth.
Anisindione Market Challenges
Rising Side Effects will Hamper the Market Growth
The main challenges faced by the anisindione market are the rising side effects. Nausea, diarrhoea, pyrexia, dermatitis or exfoliative dermatitis, urticaria, alopecia, and sore mouth or mouth ulcers have all been documented as side effects of coumarin or indanedione anticoagulant medication. Furthermore, vomiting, abdominal cramps, anorexia, priapism, erythema, and necrosis of the skin and other tissues, appearing as purple toes and cutaneous gangrene, is estimated to hinder the adoption of anisindione over the forecast period. However, changing from one chemical type of oral anticoagulant to another can help you avoid unpleasant side effects like rash or diarrhoea. The only side effect reliably linked to anisindione therapy is dermatitis. Thus, due to the rising side effects the market growth for anisindione is estimated to face challenges in the upcoming years.
Anisindione Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the anisindione market. Major players in the anisindione market are:
Aimpow
Toronto Research Chemicals Inc.
Santacruz Biotechnology
Schering Plough Corp
Bayer Schering Pharma and among others.
Key Takeaways
Europe region dominated the anisindione market due to the huge government investments made in the pharmaceutical industries in emerging economies such as UK, Germany, France, and Italy.
Globally, the increasing demand for protein hydrolysis enzymes, owing to its alluring benefits is estimated to drive the growth of the anisindione market in the projected period.
The rising usage of oral and injectable drugs for curing and preventing arterial and venous thrombosis will drive up the demand for anisindione and raise the market growth over the forecast period.
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