Global Apixaban Market – Industry Trends and Forecast to 2030

Apixaban Market Analysis and Size

The market is projected to observe major growth during the forecast period. Apixaban is generally indicated to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation. The recommended dose of Eliquis is 5mg orally twice a day. Apixaban is available in the market in both capsule and tablet form. The development of advanced anticoagulants increases the demand and provides numerous options to patients and healthcare professionals.

Data Bridge Market Research analyses a growth rate in the global apixaban market in the forecast period 2023-2030. The expected CAGR of the global apixaban market tends to be around 5.70% in the mentioned forecast period. The market was valued at USD 1,765.8 million in 2022 and would grow to USD 2,908.17 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Apixaban Market Scope and Segmentation

Market Definition

Apixaban is an FDA-approved anticoagulant which is used for the treatment of venous thromboembolic events that forms inside a vein. Venous thromboembolic events (VTE) can occur without any typical symptoms or warning signs. The common symptoms associated with either deep vein thrombosis (DVT) or either pulmonary embolism (PE) are chest pain, pain in the calf, redness or noticeable discoloration spots, swelling in the ankle or foot, and others.

Global Apixaban Market Dynamics

Drivers

• Rising prevalence of venous thromboembolism

The growing prevalence of venous thromboembolism-related conditions is anticipated to help grow the market. According to American Heart Association, VTE affects around 300,000 to 600,000 Americans yearly. The records of the International Society on Thrombosis and Haemostasis 2014 revealed that about 10 million cases of venous thromboembolism occur yearly across low, middle, and high-income countries. Thus, it acts as a major driver in market growth.

• Increase in the FDA-approved drugs       

The development of various advanced anticoagulants increases the demand and provides numerous options to patients and healthcare professionals. Apixaban has undergone large clinical trials and received FDA approval for several indications. Apixaban is a significant anticoagulant that acts by blocking certain clotting proteins in the blood.

Opportunities

• Increasing R&D developments

There has been an increasing development in the research end front, creating many opportunities for market growth. For instance, the ARISTOTLE trial showed that apixaban is superior to warfarin in decreasing stroke and systemic embolism in patients with atrial fibrillation. Pfizer collaborated with Bristol-Myers Squibb to develop and commercialize apixaban; the alliance strengthens both companies to expand potential in cardiovascular drug development and commercialization.  

• Presence of cost-effective alternative

The apixaban is the third non-vitamin K antagonist oral anticoagulant used for clinical practice. The regular dose of apixaban is highly effective in decreasing thromboembolic events compared to warfarin. In December 2019, the US FDA approved the first generics of apixaban tablets, and FDA's generic drug program enables access to cost-effective and high-quality drugs

Restraints/Challenges

• Side effects of apixaban

Several adverse effects of apixaban, such as the increased risk of thrombotic events after premature discontinuation and bleeding, are projected to hamper this drug's usage. This, in turn, is estimated to adversely affect the market's growth.

• Unavailability of appropriate treatments

To treat conditions that are rare, several times, all treatments are not available, particularly in underdeveloped countries. Severe patients need to be treated with advanced techniques, but these are sometimes unavailable in hospitals and clinics. Thus, it hampers market growth.

This global apixaban market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global apixaban market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Apixaban Market

The COVID-19 pandemic significantly impacted the global apixaban market. COVID-19 patients often develop a pro-coagulative state caused by virus-induced endothelial dysfunction, cytokine storm, and complement cascade hyperactivation. Numerous medications are being used for the treatment of COVID-19 patients. Sarilumab and tocilizumab can increase cytochrome P450 enzyme activity, so they should not be used together with apixaban or rivaroxaban and may also increase the doses of warfarin required. The thrombotic risk is linked with disease severity and worsens patients' prognosis; the management strategies need to be assessed.

Global Apixaban Market Scope

The global apixaban market is segmented on the basis of dosage form, end-user, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Dosage Form

• Capsule
• Tablets 

End-Users

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacies
• Others

Apixaban Market Regional Analysis/Insights

The global apixaban market is analysed and market size insights and trends are provided by dosage form,end-user, distribution channel as referenced above.

The major countries covered in the global apixaban market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market due to the highest investment in healthcare and awareness.

Asia-Pacific is considered to have the most lucrative period because of the developing healthcare facilities, large number of generic manufacturers, and increase in government initiatives

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Apixaban Market Share Analysis

The global apixaban market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global apixaban market.

Key players operating in the global apixaban market include:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (U.S.)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi (France), Pfizer Inc. (US.)
• GSK plc (UK.)
• Novartis AG (Switzerland)
• AstraZeneca (UK.)
• Johnson & Johnson Private Limited (US.)
• Sun Pharmaceutical Industries Ltd. (India)
• Merck & Co., Inc. (US.)
• Bristol-Myers Squibb Company (US.)
• Lilly (US.)
• Amgen Inc. (US.)
• Eisai Co., Ltd (Japan)
• Aspen Holdings (South Africa)
• Fresenius Kabi AG (Germany)
• Nanjing Jianyou Biochemical Pharmaceutical Co., Ltd. (China)
• OPOCRIN SPA (Italy)
• SARIA International GmbH (Germany)
• Hepalink Group (China).
• Shenzhen Techdow Pharmaceutical Co., Ltd (China)
• Yino Pharma Limited (China)

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