Rivaroxaban Market Growth Augmented By Increasing Number Of Hip And Knee Replacement Surgeries By 2026 With Key Players Janssen Pharmaceuticals Inc. and Bayer AG

Increasing clinical trials for the expansion of present indication of rivaroxaban is expected to be the key factor driving the rivaroxaban market growth over the forecast period. For instance, as per the data of clinical trials accessed on July 2018, Swiss Paraplegic Centre was evaluating rivaroxaban for cervical spinal cord injuries, with its successful entry in phase IV. The high cost of patented drug is a major factor contributing to high revenues and compound annual growth rate (CAGR). However, patent expiration of the drug in 2021 is expected to decrease the company revenues with the entry of new entrants with generic version of the drug at lower cost. The adverse effects of the drug such as risk of bleeding in patients leading to serious and fatal conditions are expected to restrain rivaroxaban market growth. Moreover, alternative therapies such as warfarin and heparin are cheaper, as compared to rivaroxaban and are expected to hamper growth of the global rivaroxaban market.

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As an anti-coagulant drug is intended to be used for the prevention and treatment of embolism and non-hemorrhagic stroke, increasing incidences of such medical conditions are expected to boost the rivaroxaban market growth over the forecast period.

For instance, according to the Centers for Disease Control and Prevention (CDC) data of 2015, around 900,000 people are expected to be affected by venous thromboembolism each year in the U.S. Furthermore, the number of affected individuals are expected to increase by around 5% to 8% in the U.S., owing to several genetic risk factors such as condition known as inherited thrombophilia.

Moreover, endeavor to use the drug for additional indication is expected to support the market growth. For instance, Swiss Paraplegic Centre Nottwil was investigating the drug for cervical spinal cord injury, which is in phase 4 clinical trial as on December 2017. 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.

Another major factor negatively affecting the rivaroxaban market growth is patent expiration of the drug Xarelto. Patent expiration leads to the manufacturing of generic drugs, which can be leveraged by the generic manufactures. The availability of generic drugs is expected to lower the treatment cost making it affordable to a wider class of individuals.

Rivaroxaban Market Regional Outlook

On the basis of region, the global rivaroxaban market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is holding dominant position in the global rivaroxaban market, owing to high product sales coupled with high cost of the drug. For instance, 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.

Moreover, according to an article published in the ‘Journal of The American Heart Association’, 2018, a hospital-based survey suggested the global burden of disability-adjusted life-years from venous thromboembolism to be 7.6 per 100,000 person-years. The high rate of mortality associated with venous thromboembolism increases the demand for drugs such as rivaroxaban.

Key players in the global rivaroxaban market

Major players operating in the global rivaroxaban market include Janssen Pharmaceuticals Inc. and Bayer AG.

Market players strategize to strengthen their foot hold in the market in spite of high cost by implementing cost-effective treatment schemes. For instance, Janssen Pharmaceuticals offer Xarelto manufacturer coupon or patient assistance program to lower the cost of the drug.

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Global Rivaroxaban Market Taxanomy :

Global Rivaroxaban Market, By Strength:
10 mg
15 mg
20 mg

Global Rivaroxaban Market, By Application:
Deep Vein Thrombosis Prophylaxis
Pulmonary Embolism

Global Rivaroxaban Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

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