Global Apixaban Market Size, Industry Analysis By Segmentations, Key Players ,Regional Analysis, Trends, Growth & Future Forecast 2023-2032
The apixaban market has been growing rapidly in recent years
due to the increasing prevalence of cardiovascular diseases and the rising
demand for effective anticoagulants. According to a report by Market Research
Future, the global apixaban market is expected to reach a value of over $10
billion by 2023, growing at a CAGR of around 7.3% during the forecast period.
Apixaban
is an anticoagulant medication that works by inhibiting clotting factors in the
blood, thereby reducing the risk of blood clots and stroke in patients with
conditions such as atrial fibrillation and deep vein thrombosis. It is sold
under the brand name Eliquis and is manufactured by Bristol-Myers Squibb and
Pfizer Inc.
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The apixaban market has
been growing rapidly in recent years due to the increasing prevalence of
cardiovascular diseases and the rising demand for effective anticoagulants.
According to a report by Market Research Future, the global apixaban market is
expected to reach a value of over $10 billion by 2023, growing at a CAGR of
around 7.3% during the forecast period.
North America is currently
the largest market for apixaban, followed by Europe, due to the high prevalence
of atrial fibrillation and deep vein thrombosis in these regions. However, the
Asia Pacific region is expected to show the fastest growth in the coming years,
driven by increasing healthcare expenditure, rising awareness of cardiovascular
diseases, and improving healthcare infrastructure.
The major players in the
apixaban market include Bristol-Myers Squibb, Pfizer Inc., and other
pharmaceutical companies such as Bayer AG, Boehringer Ingelheim GmbH, and
Daiichi Sankyo Company Limited. These companies are investing heavily in
research and development activities to improve the efficacy of apixaban and
develop new formulations to expand their market share.
Market
Segmentation:
The apixaban market can be
segmented based on various factors such as indication, dosage form,
distribution channel, and geography.
By Indication: The market can be segmented based on the indication for which apixaban
is used, such as atrial fibrillation, deep vein thrombosis, pulmonary embolism,
and others.
By Dosage Form: The market can also be segmented based on the dosage form of apixaban,
such as tablets and injections.
By Distribution Channel: The market can be segmented based on the distribution channel through
which apixaban is sold, such as hospital pharmacies, retail pharmacies, and
online pharmacies.
By Geography: The market can be segmented based on geography, such as North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa.
Each of these segments has
its own unique characteristics and dynamics that influence the growth and
demand for apixaban. For example, the tablet dosage form is more popular than
the injection form, and hospital pharmacies are the primary distribution
channel for apixaban due to its use in critical care settings. Furthermore, the
prevalence of cardiovascular diseases and availability of healthcare
infrastructure and services also influence the demand for apixaban in different
regions.
COVID Impact
The COVID-19 pandemic has
had a significant impact on the global pharmaceutical industry, including the
apixaban market. The pandemic has disrupted the supply chain and manufacturing
activities, leading to a shortage of raw materials and delays in drug
development and clinical trials. Additionally, the lockdowns and social
distancing measures have led to a reduction in hospital visits and elective
surgeries, which has affected the demand for apixaban.
However, the impact of
COVID-19 on the apixaban market has been relatively limited compared to other
therapeutic areas. The use of apixaban in the treatment of cardiovascular
diseases is considered essential, and the demand for the drug has remained
stable throughout the pandemic. Furthermore, the high prevalence of
cardiovascular diseases, coupled with the increasing awareness of the benefits
of anticoagulants in preventing blood clots, has contributed to the steady
growth of the apixaban market.
The COVID-19 pandemic has
also led to an increased focus on telemedicine and remote patient monitoring,
which has facilitated the management of cardiovascular diseases and the use of
anticoagulants such as apixaban. Moreover, the pharmaceutical companies have
adopted digital technologies to ensure continuity of drug supply and to enable
remote monitoring of drug safety and efficacy.
Overall, while the COVID-19
pandemic has had a significant impact on the pharmaceutical industry, including
the apixaban market, the demand for the drug has remained stable, and the
market is expected to continue growing in the coming years.
Key
Player:
1. Pfizer: Pfizer is a leading
player in the apixaban market, with its product Eliquis being one of the most
widely used apixaban formulations.
2. Bristol-Myers Squibb:
Bristol-Myers Squibb is another major player in the apixaban market, with its
product Eliquis being co-developed and marketed with Pfizer.
3. Johnson & Johnson: Johnson & Johnson is
a key player in the apixaban market, with its product Xarelto being a major
competitor to Eliquis.
4. Daiichi Sankyo: Daiichi Sankyo is a
leading player in the apixaban market, with its product Savaysa being approved
for use in Japan and other countries.
5. Boehringer Ingelheim: Boehringer Ingelheim is a
major player in the anticoagulant market, with its product Pradaxa being a
major competitor to Eliquis and Xarelto.
These companies compete
based on factors such as product efficacy, safety profile, pricing, marketing,
and distribution. They invest heavily in research and development to develop
innovative formulations and improve the efficacy and safety of their products.
Additionally, they focus on marketing and branding strategies to differentiate
their products and expand their customer base.
Moreover, the apixaban
market is highly regulated, and the approval process for new products is
stringent, which acts as a barrier to entry for new players. Thus, established
players with strong financial capabilities and a well-established distribution
network have a significant advantage in the market.
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Regional
Analysis:
1. North America: North America is
currently the largest market for apixaban, driven by the high prevalence of atrial
fibrillation and deep vein thrombosis in the region. The United States is the
major contributor to the North American apixaban market.
2. Europe: Europe is the
second-largest market for apixaban, with countries such as Germany, France, and
the United Kingdom accounting for a significant share of the market. The high
adoption rate of apixaban in these countries and the presence of key market
players are the major factors driving the growth of the market in Europe.
3. Asia Pacific: The Asia Pacific region
is expected to show the fastest growth in the coming years due to the
increasing healthcare expenditure, rising awareness of cardiovascular diseases,
and improving healthcare infrastructure. Countries such as China and India are
expected to contribute significantly to the growth of the market in this
region.
4. Latin America: Latin America is also an
emerging market for apixaban, with countries such as Brazil and Mexico showing
significant growth potential due to the increasing prevalence of cardiovascular
diseases.
5. Middle East & Africa:
The Middle East & Africa region is expected to show moderate growth in the
coming years, primarily driven by increasing government initiatives to improve
healthcare infrastructure and rising awareness of cardiovascular diseases.
Overall, the apixaban
market is expected to grow significantly in all regions due to the increasing
prevalence of cardiovascular diseases and the rising demand for effective
anticoagulants. However, the growth rate may vary depending on the healthcare
infrastructure, availability of healthcare services, and government initiatives
in each region.
Key
Points:
• The analysis
provides an overview of the factors driving and limiting the growth of the
market including trends, structure and others.
• Market estimation for type and geographic
segments is derived from the current market scenario and expected market
trends.
• Porter’s Five Force Model and SWOT analysis
are used to study the global Apixaban market and would help stakeholders make
strategic decisions.
• The analysis assists in understanding the
strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Apixaban
would help in identifying future applications in this market.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the
market based on segmentation involving both economic as well as non-economic
factors
• Provision of market value (USD
Billion) data for each segment and sub-segment
• Indicates the region and segment
that is expected to witness the fastest growth as well as to dominate the
market
• Analysis by geography highlighting
the consumption of the product/service in the region as well as indicating the
factors that are affecting the market within each region
• Competitive landscape which
incorporates the market ranking of the major players, along with new
service/product launches, partnerships, business expansions, and acquisitions
in the past five years of companies profiled
• Extensive company profiles
comprising of company overview, company insights, product benchmarking, and
SWOT analysis for the major market players
• The current as well as the future
market outlook of the industry with respect to recent developments which
involve growth opportunities and drivers as well as challenges and restraints
of both emerging as well as developed regions
• Includes in-depth analysis of the
market of various perspectives through Porter’s five forces analysis
• Provides insight into the market
through Value Chain
• Market dynamics scenario, along
with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Key
Points
• The analysis
provides an overview of the factors driving and limiting the growth of the
market including trends, structure and others.
• Market
estimation for type and geographic segments is derived from the current market
scenario and expected market trends.
• Porter’s Five
Force Model and SWOT analysis are used to study the global Dextrose Injection
market and would help stakeholders make strategic decisions.
• The analysis
assists in understanding the strategies adopted by the companies for the growth
of this market.
• In-depth
analysis of the types of Dextrose Injection would help in identifying future
applications in this market.
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