Apixaban is a Food and Drug Administration (FDA) approved anticoagulant that is used for the treatment of venous thromboembolic events (blood clot) that forms inside the vein. Venous thromboembolic events (VTE) can occur without any prior symptoms or warning signs and can go unrecognized and undiagnosed by a healthcare professional. The sign and symptoms that do appear may be associated with pulmonary embolism (PE) or either deep vein thrombosis (DVT) such as pain in the swelling in the ankle or foot, calf, redness, or noticeable discoloration spots, chest pain, rapid breathing, and others. Furthermore, factor Xa is a trypsin-like serine protease that plays a major role in the blood coagulation cascade. Apixaban works on the factor Xa inhibitory mechanism, which decreases the formation of clots stimulated by thrombin. Apixaban is indicated to reduce the risk of systemic embolism and stroke in patients with nonvalvular atrial fibrillation. Apixaban is sold under the trade name of Eliquis.
COVID-19 Impact Analysis
- COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
- Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the apixaban market.
Top Impacting Factors
Increase in prevalence of venous thromboembolism related conditions and rise in incidences of cardiovascular diseases are expected to drive the growth of the apixaban market.
In addition, rise in the prevalence of atrial fibrillation, venous thromboembolism and stroke, increase in number of geriatric population, rise in prevalence of obesity are some factors which boost the market growth.
Moreover, increase in therapeutic indications for apixaban is expected to propel the apixaban market growth.
Furthermore, continuous economic development with developing healthcare infrastructure and improving healthcare awareness have been further supporting the market growth.
However, adverse effects of apixaban such as increased risk of thrombotic events after premature discontinuation and bleeding is expected to hamper the growth of the market.
Market Trends
- New Product Launches to Flourish the Market
- In December 2020, Natco Pharma launched an anti-blood clot medication Rivaroxaban. It is an anticoagulant medication used to treat and prevent blood clots.
- In December 2020, Glenmark Pharma received tentative approval from the U.S. FDA (Food and Drug Administration) for anticoagulant Dabigatran Etexilate capsules. The approved product is a generic version of Boehringer Ingelheim Pharmaceuticals' Pradaxa capsules. Pradaxa is used to prevent blood clots from forming because of certain irregular heart rhythm.
Key Benefits of the Report
- This study presents the analytical depiction of the apixaban market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the apixaban market share.
- The current market is quantitatively analyzed to highlight the apixaban market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Apixaban Market Report
- Which are the leading market players active in the apixaban market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is apixaban market?
- What is apixaban market prediction in the future?
- Who are the leading global players in the apixaban market?
- What are the current trends and predicted trends?
- What are the key benefits of the apixaban market report?
Apixaban Market, by Type Report Highlights
| Aspects | Details |
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 By End User |
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 By Region |
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 Key Market Players | Pfizer Inc., Fresenius Kabi AG, Eisai Co., Ltd, Mylan N.V., Bristol Myers Squibb Company, Hebei Changshan Biochemical Pharmaceutical Co. Ltd, F. Hoffmann-La Roche Ltd, Nanjing Jianyou Biochemical Pharmaceutical Co., Ltd.,, Sanofi, Abbott, Hikma Pharmaceuticals PLC, Yino Pharma Limited., Aspen Holdings |
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