Apixaban Global Market Report 2024

The apixaban market size has grown strongly in recent years. It will grow from $2.69 billion in 2023 to $2.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The escalation observed in the historical period can be credited to a rise in atrial fibrillation cases, the aging demographic, regulatory endorsements and expansions, positive clinical results, and the transition from warfarin to NOACs (novel oral anticoagulants).

The apixaban market size is expected to see strong growth in the next few years. It will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 9%. The projected expansion in the forecast period can be ascribed to the sustained prevalence of cardiovascular ailments, heightened awareness and diagnosis rates, burgeoning markets in emerging economies, the aging of the global populace, and alterations in health policies and reimbursements. Key trends anticipated during this period encompass enhancements in drug delivery mechanisms, augmented research and development endeavors, innovation and collaborative initiatives, FDA approval of apixaban, and the integration of digital health and telemedicine services.

The increasing prevalence of cardiovascular disease is anticipated to drive the expansion of the apixaban market. Cardiovascular disease encompasses various heart and blood vessel conditions, such as coronary artery disease, stroke, and heart failure. This rise is attributed to factors such as sedentary lifestyles, poor diets, tobacco use, obesity, high blood pressure, diabetes, and aging populations. Apixaban plays a crucial role in managing cardiovascular disease by reducing the risk of blood clots and preventing conditions such as stroke, deep vein thrombosis, and pulmonary embolism. For example, in January 2024, the American Heart Association reported a slight increase in cardiovascular disease-related deaths in the US compared to the previous year. This underscores the significance of apixaban in addressing this health concern.

Key players in the apixaban market are prioritizing the development of innovative products, including generic anticoagulant medications, to enhance affordability and accessibility for patients. Generic anticoagulant drugs inhibit blood clot formation, thereby reducing the risk of stroke and other cardiovascular events. For instance, in October 2022, Tiefenbacher Pharmaceuticals introduced a generic version of apixaban in Canada, catering to various thrombotic disorders. Through partnerships with generic pharmaceutical companies, they aim to distribute these cost-effective anticoagulant tablets globally, benefiting healthcare systems and patients alike.

In September 2022, SK Capital Partners acquired Apotex Pharmaceutical Holdings Inc., a Canada-based pharmaceutical company specializing in apixaban oral anticoagulants. This acquisition is poised to bring significant changes to the pharmaceutical sector, impacting drug manufacturing, distribution, and research efforts.

Major companies operating in the apixaban market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Merck & Co. Inc., Sanofi S.A., Bristol-Myers Squibb Company, Eli Lilly and Company, Amgen Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Sandoz Group AG, Daiichi Sankyo Company Limited, Fresenius Kabi AG, Hetero Drugs Ltd, Eisai Co. Ltd, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Cipla Limited, Aspen Pharmacare Holdings Limited, Lupin Limited, Glenmark Pharmaceuticals Ltd., Torrent Pharmaceuticals Ltd, Medichem S.A., Centaur Pharmaceuticals Pvt. Ltd., Simson Pharma Limited, OPOCRIN SPA, Pinnacle Life Sciences Private Limited.

North America was the largest region in the apixaban market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the apixaban market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the apixaban market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Apixaban, classified as a direct oral anticoagulant (DOAC), is an oral medication employed to mitigate the risk of stroke and systemic embolism in individuals afflicted with nonvalvular atrial fibrillation, a type of irregular heartbeat. Furthermore, it is administered to prevent and treat deep vein thrombosis (DVT) and pulmonary embolism (PE), as well as to forestall DVT, which can culminate in PE, particularly following hip or knee replacement surgery.

Apixaban is available primarily in capsule and tablet forms. Capsules, encasing the medication within a gelatin shell meant for ingestion as a whole, dissolve within the digestive tract to release the active compound. Its utilization spans various applications such as DVT and PE across diverse end-user settings including hospitals, home care, specialty clinics, and others.

The apixaban market research report is one of a series of new reports that provides apixaban market statistics, including apixaban industry global market size, regional shares, competitors with an apixaban market share, detailed apixaban market segments, market trends, and opportunities, and any further data you may need to thrive in the apixaban industry. This apixaban market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The apixaban market consists of sales of generic drugs, oral tablets and blister packs. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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