Apixaban Industry Players, Key Trends Insights, Market Size, Estimation, By Apixaban Associates, Application And Regional Forecast To 2026
SEATTLE, April 08, 2021, (PHARMIWEB) — Global Apixaban Market
Apixaban is an FDA-approved anticoagulant used for the treatment of venous thromboembolic events (blood clot) that form within a vein. Venous thromboembolic events (VTE) can occur without any prior symptoms or warning signs, and can go undiagnosed and unrecognized by a healthcare professional. Symptoms that usually do appear may be associated with pulmonary embolism (PE) or deep vein thrombosis (DVT), such as pain in the calves of legs, swelling in the ankle or foot, redness or noticeable discoloration spots, rapid breathing, chest pain, and others. Apixaban is sold under the trade-name of ‘Eliquis’.
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Factor Xa is a trypsin-like serine protease that plays a key role in blood coagulation cascade. Therefore, the apixaban mechanism works on inhibiting the factor Xa, which in turn, decreases the clot formation stimulated by thrombin. Apixaban is indicated to reduce the risk of stroke and systemic embolism in patients with non-valvular atrial fibrillation. The recommended dose of Eliquis, orally, is 5mg, twice a day. Apixaban is available in the market in the forms of capsules and tablets.
Global Apixaban Market Dynamics
Increasing prevalence of venous thromboembolism-related conditions is expected to aid in growth of the apixaban market. According to the International Society on Thrombosis and Haemostasis 2014 facts, revealed that around 10 million cases of venous thromboembolism occur annually across low, middle and high income countries.
Moreover, increasing therapeutic indications for apixaban is most likely to boost the global apixaban market growth. For instance, in 2014, the U.S. FDA approved Eliquis for the treatment of deep vein thrombosis (DVT) prophylaxis and pulmonary embolism (PE), and also for the risk reduction of recurrent PE and DVT, following initial therapies. Furthermore, government and private organizations are significantly investing capital in healthcare research and development and this is also likely to propel growth of the Apixaban market.
On the other hand, adverse effects of apixaban, such as increased risk of thrombotic events after premature discontinuation and bleeding is expected to hamper the adoption of this drug on a global scale. This in turn is expected to adversely affect growth of the market. A study published in the Current Medical Research and Opinion 2017 suggested that a major risk of bleeding is associated with use of apixaban.
Global Apixaban Market – Geographical Insights
North America holds a dominant position in terms of revenue generated by the high price of the drug in treating venous thromboembolic events. For instance, according to GoodRx Inc. 2018 pricing detail, 60 tablets of Eliquis 5mg cost around US$ 524.38 on an average in the U.S. Moreover, increasing prevalence of venous thromboembolic events has boosted adoption of apixaban in North America market significantly. For instance, according to study published in the American Journal of Preventive Medicine in 2010, venous thromboembolism (VTE) affects approximately 300,000-600,000 people in the U.S. annually, causing considerable mortality. Furthermore, venous thromboembolism (VTE) disorder can occur in all ethnicities, all age groups, and both genders.
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The Asia Pacific market, followed by the European market, is expected to witness immense growth over the forecast period, owing to the escalating number of healthcare initiatives by the governments of these regions. Furthermore, a study published in PLOS ONE 2016 reported that the cost-effectiveness of the apixaban drug versus warfarin in Chinese patients with non-valvular atrial fibrillation in Hong Kong are some the factors that are also propelling the growth of the apixaban market in this region.
Global Apixaban Market – Competitive Landscape
The major players operating in the global apixaban market include Bristol-Myers Squibb, Portola Pharmaceuticals, C. H. Boehringer Sohn, Pfizer, Roche, CoaguSense, Siemens, Alere, and Abbott.
These players are presently focusing on mergers, collaborations, and development of new technologies, in order to gain a dominant position in the global market. For instance, in 2016, Pfizer and Bristol-Myers Squibb entered into collaboration with Portola Pharmaceuticals to commercialize and develop investigational Andexanet Alfa, a clinical phase 3 drug, which is developed to reverse the anticoagulant effect of Factor Xa inhibitors that will be helpful for patients experience a major bleeding issue on the use of Eliquis.
On the basis of dosage form:
By distribution channel:
- Retail Pharmacies
- Online Pharmacies
Based on geography:
- North America
- Latin America
- Asia Pacific
- Middle East
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