Apixaban Market Size, Share, Outlook, and Opportunity Analysis, 2022-2028

 

Apixaban Market
Apixaban Market

Apixaban is a novel oral anticoagulant (NOAC) that is used to reduce the risk of stroke and blood clots in patients with atrial fibrillation, deep vein thrombosis (DVT), and pulmonary embolism (PE). It is a direct inhibitor of Factor Xa, a clotting factor in the blood that plays a crucial role in the formation of blood clots. Apixaban is marketed under the brand name Eliquis and was jointly developed by Pfizer and Bristol-Myers Squibb.

The apixaban market has been growing steadily over the past few years, driven by an increasing prevalence of cardiovascular diseases and a growing awareness of the benefits of NOACs over traditional anticoagulants such as warfarin. According to a report by Grand View Research, the global apixaban market size was valued at USD 6.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.6% from 2021 to 2028.

One of the key drivers of the apixaban market is the rising incidence of atrial fibrillation (AF), a condition characterized by an irregular heartbeat that can lead to blood clots, stroke, and heart failure. According to the American Heart Association, AF affects more than 33 million people worldwide and is expected to double in prevalence by 2050. Apixaban is one of the preferred anticoagulant therapies for AF due to its efficacy and safety profile, as demonstrated in numerous clinical trials.

Another key driver of the apixaban market is the increasing adoption of NOACs over traditional anticoagulants such as warfarin. Warfarin has been the standard of care for anticoagulation for many years, but it has several limitations, including a narrow therapeutic window, a need for regular monitoring, and a high risk of bleeding. NOACs such as apixaban have a wider therapeutic window, require no regular monitoring, and have a lower risk of bleeding, making them an attractive alternative to warfarin.

The apixaban market is also benefiting from the expanding use of NOACs in indications beyond AF, such as DVT and PE. DVT occurs when a blood clot forms in a deep vein, usually in the leg, while PE occurs when a blood clot travels to the lungs. Both conditions can be life-threatening and require prompt treatment with anticoagulants such as apixaban. The growing awareness of the benefits of NOACs in these indications is expected to drive the growth of the apixaban market in the coming years.

The apixaban market is highly competitive, with several other NOACs available in the market, including rivaroxaban (Xarelto) and dabigatran (Pradaxa). However, apixaban has several advantages over these drugs, including a lower risk of bleeding and a more convenient dosing regimen. Apixaban is taken twice daily for the first 7 days after DVT or PE diagnosis, followed by once-daily dosing thereafter. In contrast, rivaroxaban requires once-daily dosing for both DVT and PE, while dabigatran requires twice-daily dosing for DVT and PE.

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