Global Rivaroxaban Market to Surpass US$ 7.0 Billion by 2026: CMI

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) is estimated to be valued at US$ 5,653 million in 2017 and is projected to exhibit a CAGR of 1.5% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights. The API patent is set to expire in 2020 and product patent in 2023 leading to anticipated price erosion if the drug.

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Rivaroxaban is an oral anticoagulant, which was developed by Bayer and 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). The drug is marketed by Bayer outside the U.S. and in the U.S., it is marketed by Janssen Pharmaceuticals, Inc.

Xarelto is among the most popular anticoagulants, which includes brands like Caumadin, Praxada, and Eliquis. The trajectory growth of rivaroxaban market can be attributed to increasing 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, in collaboration with Bayer and Janssen, and two others, are studying the efficacy of rivaroxaban in patients undergoing bariatric surgery and as on May 2018, the trial was under phase II.

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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 - Global Forecast to 2026’

The market players of rivaroxaban market are also concentrating on enhancing effectiveness and reducing the side effects such as bleeding of the drug. For instance, as of June 2018, Janssen Scientific Affairs, LLC is studying the effectiveness of Xarelto with a mobile adherence platform, to improve medication adherence in patients with atrial fibrillation.

However, the presence of cheaper alternative drugs such as warfarin, apixaban, and dabigatran are expected to be major factors hindering the rivaroxaban market growth. The treatment cost using warfarin is as low as US$ 4 per month whereas the cost of rivaroxaban is around US$ 450 per month. This vast difference in cost of the drug lead the patients towards adopting cheaper alternative, thereby negatively affecting the market growth.

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Key takeaways of the Rivaroxaban Market:

The global rivaroxaban market is expected to expand at a CAGR of -3.1% over the forecast period (2018 – 2026), owing to increasing clinical trials
High cost of rivaroxaban therapy compared to it alternatives may restrain the market growth
Patent expiration leading to manufacturing of generics is expected to pose challenge to the Xarelto brand and may result in price reduction
Some of the major players operating in the global rivaroxaban market include Janssen Pharmaceuticals Inc. and Bayer AG.

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This release was published on openPR.