Rivaroxaban, sold under the brand name Xarelto, is an anticoagulant medication used to prevent blood clots in the veins and arteries. It is used to prevent deep vein thrombosis and pulmonary embolism following hip or knee replacement surgery and to treat deep vein thrombosis.
The global rivaroxaban market is estimated to be valued at US$ 5,653 million in 2023 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rivaroxaban is estimated to witness moderate growth owing to high usage for the prevention of deep vein thrombosis and pulmonary embolism. According to the American College of Chest Physicians, around 300,000 to 600,000 cases of pulmonary embolism occur each year in the US. Additionally, over 900,000 Americans suffer a DVT annually, with about one-third developing potential long-term symptoms of post-thrombotic syndrome. Rivaroxaban reduces the risk of blood clots in patients undergoing hip or knee replacement surgeries, as well as reduces the risk of stroke in patients with nonvalvular atrial fibrillation. Its once-daily oral administration also makes it preferable over other traditional anticoagulant injections.
SWOT Analysis
Strength: Rivaroxaban is an oral anticoagulant drug used to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation. It provides an alternative to warfarin for reducing the risk of strokes with fewer drug and dietary interactions. Being an oral medication provides ease of administration over injectables.
Weakness: As with other oral anticoagulants, monitoring clotting levels is not possible with rivaroxaban like it is with warfarin. There is no specific antidote available in case of an overdose or bleeding complication, which can potentially lead to worse outcomes.
Opportunity: The aging global population susceptible to atrial fibrillation and high unmet need for safer anticoagulants offer potential for market growth. Expanding approved indications to cover more conditions can increase sales volumes.
Threats: Intense competition exists from other new oral anticoagulants like apixaban and edoxaban. Potential safety issues or restrictive regulations can impact demand. Patent expiries of major drugs may allow entry of cheaper generics.
Key Takeaways
The global rivaroxaban market is expected to witness steady growth over the forecast period supported by rising geriatric population vulnerable to clotting disorders. The global rivaroxaban market is estimated to be valued at US$ 5,653 million in 2023 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023 to 2030.
Regional analysis Asia Pacific region is projected to experience fastest gains owing to increasing healthcare spending per capita, greater awareness about stroke prevention, and expanding patient coverage. India particularly presents lucrative prospects for rivaroxaban sales as one of the top five countries globally in terms of atrial fibrillation cases.
Key players Janssen Pharmaceuticals Inc. and Bayer AG are the major players in the rivaroxaban market. Janssen markets rivaroxaban under the trade name Xarelto. Bayer joined as a marketing partner with Janssen post approval to aid commercialization on a global scale. Both companies continue new drug trials and regulatory submissions to expand approved uses of rivaroxaban.
