The global tranexamic acid market demand is expected to witness considerable growth over the forecast period on account of its application in the medical sector. The drug belongs to the category of medications known as antifibrinolytic agents. The product is a structural analog of amino acid lysine. It is whitish crystalline powder and is soluble in glacial acetic acid and water.
Its rising use in various surgeries including liver, heart, and vascular is expected to open new avenues for the product over the next seven years. It is widely used to prevent bleeding after an operation. Tranexamic prevents blood clots from dissolving and helps the healing process.
The product has gained importance in skincare treatment on account of its high lightening properties. It can be injected intradermally in patients suffering from melasma. Furthermore, rising importance of the product to prevent melanin formation and avoid marks left by pimples is expected to augment tranexamic acid market demand over the forecast period.
Increasing demand for the chemical from patients suffering from hemophilia is expected to have a positive impact on the market. Furthermore, huge demand for the chemical in medical cases with excessive bleeding such as epistaxis and prostatectomy is expected to propel tranexamic acid market growth. However, it has numerous side-effects including change in eyesight, pain in chest and legs, low blood pressure, and swelling which is expected to hinder growth. Further, the product has limitations in various cases such as allergies, pregnancy, and breastfeeding which are expected to limit the product demand in a competitive market over the next seven years.
The product finds its applications in women related medical problems such as excessive bleeding during menstrual cycle. It has a huge demand among women aged between 38 and 40 years owing to its application in menorrhagia. Increasing demand for the product in dentistry in the form of mouth rinse after surgery is expected to propel tranexamic acid market growth over the forecast period.
Tranexamic acid is used in obstetrics in order to limit blood loss after pregnancy. R&D related to application of the product to reduce maternal death rates is expected to have a positive impact on growth. The drug can be administrated orally; hence, it has a huge consumer demand. Furthermore, it is used to treat genetic blood disorders, such as angioedema, which is expected to open new opportunities in the near future.
The drug is marketed in various forms including tablets, injections, and oral liquids. Tranexamic acid injection is widely used to prevent or reduce hemorrhage. The drug gained consumer attention since it does not interact with food from diet. It is manufactured by a number of pharmaceutical companies including Pfizer and Wockhardt Ltd. under multiple brand names.
North America is expected to be a lucrative market on account of its well-developed pharmaceutical sector. Increasing health concerns owing to financial development in economies including the U.S. and Europe are leading to an increased adoption of tranexamic acid to lower the risk of blood loss related diseases.
Rising demand for health products because of changing consumer habits along with better living standards is expected to augment demand for the product in emerging economies including India, China, and Brazil. The U.S. is facing increasing competition from emerging economies such as China, Brazil, and India in the medical sector over the past few decades owing to rising demand for the product in these regions.
The global market is highly fragmented in nature due to the presence of numerous players spread evenly across the globe. Key players in the tranexamic acid market include Pfizer, Wockhardt Ltd., FDC Limited, Taicang Pharmaceutical Factory, Asahi Kasei Finechem, Cipla, Taj Pharmaceutical Ltd., Wuhan Xinzekang Chemical Co., Ltd., Vega Pharma Limited, Dalian Richon Chem Co., Ltd., Nanjing Gemsen International Co., Ltd., Taicang Pharmaceutical Factory, Changzhou Hangyu Pharmaceutical Technology Co., Ltd., Hunan Dongting Pharmaceuticals, Yinsheng Pharmaceutical, Mascot Industries, Alembic Ltd., and Hangzhou Lianzheng Chemicals Co., Ltd.
The U.S. based Pfizer, offers tranexamic acid injection with the brand name ‘Cyklokapron’. The product is marketed as 100 mg/mL single-dose ampoules and CYKLOKAPRON Injection 100 mg/mL single-dose vials.
Wockhardt Ltd., headquarter in Mumbai, manufactures and markets tranexamic acid tablets under the trade name ‘Cymin’. The product is available in the form of 500 mg tablet, used primarily to prevent blood loss during menstrual cycle and surgery.
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