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.
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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.
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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 – 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.
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