Apixaban is a Food and Drug Administrator (FDA) approved anticoagulant used for the treatment of venous thromboembolic events (blood clot) that forms within a vein. Venous thromboembolic events (VTE) can occur without any prior symptoms or warning signs and can go undiagnosed and unrecognized by a healthcare professional. Symptoms that do appear may be associated with pulmonary embolism (PE) or either deep vein thrombosis (DVT) such as pain in the calf, swelling in the ankle or foot, redness or noticeable discoloration spots, rapid breathing, chest pain, and others. Apixaban is sold under the trade-name of Eliquis. Factor Xa is a trypsin-like serine protease that plays a key role in blood coagulation cascade. Apixaban mechanism works on inhibiting factor Xa, which indirectly decreases the clot formation stimulated by thrombin. Apixaban is 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 as capsules and tablet form.
Apixaban Market – Dynamics
Increasing prevalence of venous thromboembolism related conditions is expected to aid in growth of the apixaban market. For instance, according to International Society on Thrombosis and Haemostasis 2014 facts, revealed that around 10 million cases of venous thromboembolism occur annually across low, middle and high income countries. Moreover, increasing therapeutic indications for apixaban is expected to boost the apixaban market growth. For instance, in 2014, the U.S. Food and Drug Administration approved Eliquis for the treatment of deep vein thrombosis (DVT) prophylaxis and pulmonary embolism (PE) and also for the reduction in risk of recurrent PE and DVT following initial therapy. Furthermore, government and private organizations are significantly investing capital in healthcare research and development and this is also likely to propel growth of the Apixaban market. However, adverse effects of apixaban such as increased risk of thrombotic events after premature discontinuation and bleeding is expected to hamper adoption of this. This in turn is expected to adversely affect growth of the market. According to a study published in the Current Medical Research and Opinion 2017 stated about the bleeding risk associated with use of apixaban.
Apixaban Market – Regional Insights
Based on the region, the global apixaban market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds the dominant position in terms of revenue generated by the high price of the drug in treating venous thromboembolic events. For instance, according to GoodRx Inc. 2018 pricing detail, 60 tablets of Eliquis 5mg cost around US$ 524.38 on an average in the U.S. Moreover, increasing prevalence of venous thromboembolic events has boosted adoption of apixaban in North America market significantly. For instance, according to study published in the American Journal of Preventive Medicine in 2010, venous thromboembolism (VTE) affects approximately 300,000-600,000 people in the U.S. annually, causing considerable mortality. Furthermore, venous thromboembolism (VTE) disorder can occur in all ethnicities, all age groups, and both genders.
Asia Pacific market is expected to witness significant growth followed by Europe market over the forecast period, owing to increasing healthcare initiatives by respective governments. Moreover, a study published PLOS ONE 2016 showed, the cost effectiveness of apixaban drug versus warfarin in Chinese patients with non-valvular atrial fibrillation in Hong Kong are some the factors that are also propelling the growth of apixaban market in the particular region.
Apixaban Market – Competitive Landscape
Major players operating in the global apixaban market include Bristol-Myers Squibb, Portola Pharmaceuticals, C. H. Boehringer Sohn, Pfizer, Roche, CoaguSense, Siemens, Alere, and Abbott. Market players are focusing on developing new technologies, and on mergers, and collaborations in order to gain dominant position in the market. For instance, in 2016, Pfizer and Bristol-Myers Squibb entered into collaboration with Portola Pharmaceuticals to commercialize and develop investigational Andexanet Alfa, a clinical phase 3 drug, which is developed to reverse the anticoagulant effect of Factor Xa inhibitors that will be helpful for patients experience a major bleeding issue on the use of Eliquis.
Apixaban Market – Taxonomy
On the basis of dosage form, the global apixaban market is segmented into:
On the basis of distribution channel, the global apixaban market is segmented into:
- Retail Pharmacies
- Online Pharmacies
On the basis of geography, the global apixaban market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East