Rivaroxaban Market To Find Better Growth with US$ 7.0 Billion By 2026 | CAGR: 1.5%: Coherent Market Insights
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The Global Rivaroxaban Market, by Strength (10 mg, 15 mg, and 20 mg), by Application (Deep Vein Thrombosis Prophylaxis and Pulmonary Embolism), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5,653 million in 2017 and is estimated to exhibit a CAGR of 1.5% over the forecast period (2018-2026).
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The API patent will expire in 2020 and product patent in 2023 that will lead to estimated price erosion in the drug. Moreover, oral anticoagulant named Rivaroxaban was developed by Bayer and it is sold under the brand name Xarelto. The drug is indicated for the treatment of deep vein thrombosis prophylaxis or pulmonary embolism and to reduce the risk of stroke and systemic embolism in patients with non-valvular atrial fibrillation (AF). Furthermore, the drug is marketed by Bayer outside the U.S. and in the U.S., and it is marketed by Janssen Pharmaceuticals, Inc. Xarelto is among the most popular anticoagulants, which include brands such as Caumadin, Praxada, and Eliquis.
The growth of the rivaroxaban market is attributed to rising number of clinical trials by companies and universities to expand the indication of the drug or to use in combination with other drug. For instance, the University Hospital Inselspital, Berne, enterd into a collaboration with Bayer and Janssen, and two others, in order to study the efficacy of rivaroxaban in patients undergoing bariatric surgery. Until May 2018, the trial was under phase II.
Browse Market Data 22 Tables and 20 Figures spread through 150 Pages and in-depth TOC on ‘Rivaroxaban Market, by Strength (10 mg, 15 mg, and 20 mg), by Application (Deep Vein Thrombosis Prophylaxis and Pulmonary Embolism), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026’
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Moreover, major market players in rivaroxaban market are engaged on enhancing effectiveness and reducing the side effects such as bleeding of the drug. For instance, as of June 2018, Janssen Scientific Affairs, LLC was studying the effectiveness of Xarelto with a mobile adherence platform, to improve medication adherence in patients with atrial fibrillation. However, availability and increasing adoption of low priced alternative drugs such as warfarin, apixaban, and dabigatran are the factors that are expected to hamper the market growth over the forecast period. For instance, the treatment cost using warfarin is as low as US$ 4 per month, whereas the cost of rivaroxaban is around US$ 450 per month.
Key takeaways of the Rivaroxaban Market:
- The global rivaroxaban market is expected to exhibit a CAGR of 1.5% over the forecast period (2018 – 2026), attributed to increasing clinical trials by key players
- High cost of rivaroxaban therapy compared to it alternatives is expected to hamper the market growth over the forecast period
- Patent expiration leading to manufacturing of generics is expected to pose challenge to the Xarelto brand and may result in price reduction
- Key players operating in the global rivaroxaban market include Janssen Pharmaceuticals Inc. and Bayer AG, among others.
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