Rivaroxaban Market 2021 : Fascinating Tactics That Can Help Your Business Grow
The Global Rivaroxaban Market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2021-2027). The research presents a complete assessment of the market and contains Future trend, Current Growth Factors, attentive opinions, facts, historical data, and statistically supported and industry validated market data.
Rivaroxaban, marketed as Xarelto, is a Non-Vitamin K Antagonist Oral Anticoagulants (NOAC). Anticoagulant medications are powerful therapeutic drugs that are used to prevent or cure serious illnesses and potentially life-threatening situations caused by blood coagulation. Bayer discovered Rivaroxaban, which is being developed in collaboration with Janssen Research & Development, LLC.
Xarelto is licenced to prevent stroke in non-valvular atrial fibrillation, pulmonary embolism, deep vein thrombosis, recurrent venous thromboembolism (VTE), VTE after elective hip and knee replacement surgery, and secondary prevention after an acute coronary syndrome.
The medicine got CE clearance in September 2008 for venous thromboembolism in adults following knee and hip replacement procedures, and the US Food and Drug Administration (FDA) approved it for the same indication in 2011. Xarelto has been approved by regulatory organisations in over 130 countries.
The global rivaroxaban market size is estimated to be valued at US$ 5,653 million in 2017 and is expected to witness a CAGR of 1.5% over the forecast period (2018 – 2026) on account of patent expiry during the forecast period.
Increasing number of hip and knee replacement surgeries are augmenting rivaroxaban market growth
Because rivaroxaban is an anti-coagulant medicine used to prevent and treat embolism and non-hemorrhagic stroke, rising incidences of these medical diseases are likely to drive market growth throughout the forecast period.
According to 2015 estimates from the Centers for Disease Control and Prevention (CDC), 900,000 persons in the United States are estimated to be impacted by venous thromboembolism each year. Furthermore, numerous genetic risk factors, such as the condition known as hereditary thrombophilia, are predicted to increase the number of affected individuals in the United States by roughly 5% to 8%..
Furthermore, the industry is projected to benefit from efforts to use the medicine for additional indications. For example, as of December 2017, the Swiss Paraplegic Centre Nottwil was exploring a medication for cervical spinal cord injury that was in phase 4 clinical testing. Furthermore, Onze Lieve Vrouw Hospital and AZ Sint-Jan AV are conducting clinical trial of 10 mg rivaroxaban for the indication of chronic renal failure.
The patent expiration of the medicine Xarelto is another important factor limiting the growth of the rivaroxaban industry. Patent expiration leads to the production of generic medications, which generic manufacturers can profit from. The availability of generic medications is projected to cut the cost of therapy, making it more accessible to a broader group of people.
Because of the terrible damage caused by Xarelto, the business has had to deal with a slew of legal difficulties in the United States. For example, as of January 30, 2018, Bayer Group had received around 22,000 Xarelto claims in the United States for personal injuries caused by the drug, including brain, gastrointestinal, and other bleeding, as well as death. On clearance of the claims, the market of the product is expected to be affected in terms of revenue.
Rivaroxaban Market Regional Outlook
. The global rivaroxaban market is divided into five regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Because of strong product sales and high drug costs, North America holds a leading position in the worldwide rivaroxaban market. For example, the treatment cost for rivaroxaban is around US$ 450-500 per month and around 45% of the market revenue generated in 2017 was from the U.S. market.
Furthermore, according to a hospital-based survey published in the ‘Journal of The American Heart Association’ in 2018, the global burden of disability-adjusted life-years caused by venous thromboembolism is 7.6 per 100,000 person-years. Because of the high fatality rate linked with venous thromboembolism, medications like rivaroxaban are in high demand.
Market participants want to increase their market share despite the high cost by adopting cost-effective treatment solutions. Janssen Pharmaceuticals, for example, offers a Xarelto manufacturer coupon or a patient assistance programme to help with the drug’s cost.
Major Key Players Include In Rivaroxaban Market: Janssen Pharmaceuticals Inc. and Bayer AG.
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Main points in Rivaroxaban Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Rivaroxaban Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Rivaroxaban Industry Impact
Chapter 2 Global Rivaroxaban Competition by Types, Applications, and Top Regions and Countries
2.1 Global Rivaroxaban (Volume and Value) by Type
2.3 Global Rivaroxaban (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Rivaroxaban Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Rivaroxaban Market Analysis
Chapter 6 East Asia Rivaroxaban Market Analysis
Chapter 7 Europe Rivaroxaban Market Analysis
Chapter 8 South Asia Rivaroxaban Market Analysis
Chapter 9 Southeast Asia Rivaroxaban Market Analysis
Chapter 10 Middle East Rivaroxaban Market Analysis
Chapter 11 Africa Rivaroxaban Market Analysis
Chapter 12 Oceania Rivaroxaban Market Analysis
Chapter 13 South America Rivaroxaban Market Analysis
Chapter 14 Company Profiles and Key Figures in Rivaroxaban Business
Chapter 15 Global Rivaroxaban Market Forecast (2021-2027)
Chapter 16 Conclusions
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