Rivaroxaban Market Development is Changing Business Needs? – A Progress Review | Janssen Pharmaceuticals Inc. and Bayer AG
Rivaroxaban Market report provides emerging opportunities in the market and the future impact of major drivers and challenges and, support decision makers in making cost-effective business decisions. One of the objectives of this report is to identify the latest developments, market shares, and strategies employed by the major market players. Besides, the least competitive market niches with significant growth potential are also identified. For research methodology, secondary research, primary research, subject matter expert advice, quality check, and final review was utilized.
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Rivaroxaban is a Non-Vitamin K Antagonist Oral Anticoagulants (NOAC) that is marketed as Xarelto. Anticoagulant medicines are potent therapeutic agents used in the prevention or treatment of serious illnesses and potentially life-threatening conditions associated with blood coagulation. Rivaroxaban was discovered by Bayer and is being jointly developed with Janssen Research & Development, LLC.
Xarelto is approved for indications such as stroke prevention in non-valvular atrial fibrillation, pulmonary embolism, deep vein thrombosis, prevention of recurrent venous thromboembolism (VTE), prevention of VTE after elective hip and knee replacement surgery, and secondary prevention after acute coronary syndrome.
In September 2008, the drug received CE approval for venous thromboembolism in adults undergoing knee and hip replacement surgeries and in 2011, it was approved by the U.S. Food and Drug Administration (FDA) for the same indication. Xarelto is approved in over 130 countries by respective regulatory bodies.
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
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.
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Dreadful injuries caused due to Xarelto, has led the company face many legal issues in the U.S. market. For instance, as of January 30, 2018, Bayer Group had been served in the U.S. with around 22,000 claims of Xarelto for personal injuries from the use of Xarelto, which includes cerebral, gastrointestinal or other bleeding and death causes. On clearance of the claims, the market of the product is expected to be affected in terms of revenue.
Major Players Are Operating In This Market Are: Janssen Pharmaceuticals Inc. and Bayer AG
Highlights of the Rivaroxaban report:
1. A complete backdrop analysis, which includes an assessment of the Rivaroxaban Market
2. An objective assessment of the trajectory of the market
3. Market segmentation up to the second or third level
4. Reporting and evaluation of recent industry developments
5. Important changes in market dynamics
6. Emerging niche segments and regional markets
7. Historical, current, and projected size of the market from the standpoint of both value and volume
8. Market shares and strategies of key players
9. Recommendations to companies for strengthening their foothold in the market
To conclude, the Rivaroxaban Market report mentions the key geographies, market landscapes alongside the production and consumption analysis, supply and demand analysis, market growth rate, along with future forecast etc. This report also provides SWOT and PEST analysis, investment feasibility and return analysis. Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report.
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