Global Rivaroxaban Market, By Type (2.5mg, 10mg, 15mg, and 20mg), Application (Acute Coronary Syndrome (ACS), Pulmonary Embolism, Venous Thromboembolism (VTE), and Others), Dosage (Tablet, Suspension), Route of Administration (Oral and Others), End-Users (Clinic, Hospital, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) - Industry Trends and Forecast to 2030.
Rivaroxaban Market Analysis and Size
Rivaroxaban is an oral anticoagulant and factor Xa inhibitor used to treat deep vein thrombosis and pulmonary embolism. It is also used against strokes and blood clots in atrial fibrillation patients. It is sold under the brand name Xarelto. Due to its anticoagulant property, it is used in treating and preventing embolism and non-hemorrhagic stroke. Also, the increase in the number of hip and knee replacement surgeries, the growing use of the drug for different indications, and advancement in healthcare expenditure are the factors that will expand the global rivaroxaban market. Rising R&D activities and emerging markets will provide beneficial opportunities for the global rivaroxaban market in the forecast period of 2023-2030.
High cost of drugs and side effects of rivaroxaban, such as muscle pain, headache, dizziness, itching, brown urine, and blurred vision, are the factors that will restrain the market growth and will further challenge the global etanercept market in the forecast period mentioned above.
The type segment is dominating the global rivaroxaban market due to the rise in patient population and the high cost of patented drugs is a major factor contributing to high revenues and compound annual growth rate (CAGR).
Data Bridge Market Research analyses that the rivaroxaban market, valued at USD 14.89 million in 2022, will reach USD 25.59 million by 2030, growing at a CAGR of 7.0% during the forecast period of 2023 to 2030. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Rivaroxaban Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (2.5mg, 10mg, 15mg, and 20mg), Application (Acute Coronary Syndrome (ACS), Pulmonary Embolism, Venous Thromboembolism (VTE), and Others), Dosage (Tablet, Suspension), Route of Administration (Oral and Others), End-Users (Clinic, Hospital, and Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Peru, rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, rest of Middle East and Africa
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Market Players Covered
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Janssen Pharmaceuticals, Inc. (Belgium), Dr. Reddy’s Laboratories Ltd. (India), Anant Pharmaceuticals Pvt. Ltd.(India), Taj Pharmaceuticals Limited (India), and Bayer AG (Germany) among other
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Market Opportunities
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Market Definition
Rivaroxaban is an anticoagulant used primarily to prevent and treat blood clots and to reduce the risk of stroke and systemic embolism in patients with non-valvular atrial fibrillation. It is a Direct Oral Anticoagulant (DOAC) that inhibits the activity of factor Xa, an important part of the blood clotting cascade. This market includes not only the manufacture, distribution, and sale of rivaroxaban by pharmaceutical companies but also the consumption and use of rivaroxaban by healthcare professionals and patients worldwide. Factors influencing market trends include the prevalence of thromboembolic diseases, advances in medical infrastructure, regulatory frameworks, and competition from other anticoagulant.
Rivaroxaban Market Dynamics
Drivers
- Increasing Prevalence of Thromboembolic Disorders
Thromboembolic disorders, such as Deep Vein Thrombosis (DVT), Pulmonary Embolism (PE), and Atrial Fibrillation (AF), are becoming more prevalent globally. DVT occurs when blood clots form in deep veins, usually in the legs, while PE refers to the obstruction of pulmonary arteries by blood clots. AF is a heart rhythm disorder that increases the risk of blood clots forming in the heart. These conditions can have severe consequences, including organ damage and death. The rising incidence of these disorders drives the demand for effective anticoagulant medications such as rivaroxaban. It helps prevent the formation of blood clots and reduces the risk of thromboembolic events, making it a valuable treatment option for patients with these conditions.
- Growing Aging Population
The global population is experiencing a significant demographic shift with a growing aging population. Elderly individuals are more susceptible to various cardiovascular diseases, including thromboembolic disorders. As people age, the risk of developing conditions such as DVT, PE, and AF increases. This demographic trend is expected to drive the demand for anticoagulant therapy, including drugs such as rivaroxaban. The elderly population requires effective and safe anticoagulant medications to manage cardiovascular health and reduce the risk of thromboembolic events. With its specific indications and advantages, rivaroxaban is well-positioned to cater to the needs of this growing population segment.
- Advantages over Traditional Anticoagulants
Rivaroxaban offers several advantages over traditional anticoagulants, such as warfarin. Unlike warfarin, which requires frequent blood monitoring and dosage adjustments, rivaroxaban has a predictable pharmacokinetic profile and does not necessitate routine monitoring. This makes it more convenient for patients and healthcare providers. Additionally, rivaroxaban has a lower risk of drug interactions than warfarin, reducing the potential for complications caused by concurrent medication use. Furthermore, rivaroxaban is administered orally, eliminating the need for injections or hospital visits for administration. The ease of administration, reduced monitoring requirements, and lower risk of drug interactions contribute to the growing preference for rivaroxaban among healthcare professionals and patients, driving its market growth.
Opportunities
- Expansion into Emerging Markets
Emerging markets present a significant opportunity for Rivaroxaban manufacturers due to multiple factors. Firstly, the prevalence of thromboembolic disorders is rising in these regions, partly due to changing lifestyles and increased risk factors such as obesity and sedentary lifestyles. This growing incidence creates a higher demand for anticoagulant medications such as rivaroxaban. Additionally, as healthcare infrastructure improves in emerging markets, there is better access to healthcare services, including the availability of advanced medications. This, coupled with increasing awareness and diagnosis rates, creates a favorable environment for Rivaroxaban manufacturers to expand their market presence. By targeting these emerging markets, manufacturers can tap into a growing customer base and establish their brand as a trusted and accessible option for patients requiring anticoagulant therapy.
- Increasing Ongoing Research and Development
Continued research and development (R&D) efforts surrounding rivaroxaban offer significant opportunities for the market. research can focus on exploring new indications for rivaroxaban beyond its current approved uses. For instance, investigating its efficacy and safety in treating additional cardiovascular conditions, such as coronary or peripheral artery disease, could expand its market potential. Furthermore, there is a possibility of exploring combination therapies, where rivaroxaban is used in conjunction with other medications to address specific patient populations or enhance therapeutic outcomes. Such developments can lead to expanded treatment options, increased market penetration, and improved patient outcomes. Ongoing R&D efforts also contribute to scientific advancements and knowledge about the drug, which can further solidify rivaroxaban's position in the market and create opportunities for differentiation and competitive advantage.
Restraints/Challenges
- Safety Concerns and Adverse Effects
Like any medication, rivaroxaban has potential side effects and safety concerns. These can include bleeding complications, liver toxicity, and drug interactions. Such safety concerns can act as a restraint in the market, requiring careful monitoring and appropriate use.
- Competition from Other Anticoagulants
The market for anticoagulant medications is highly competitive, with several other drugs available in the same therapeutic class as rivaroxaban. Competing with established and emerging anticoagulant medications challenges Rivaroxaban manufacturers to maintain market share and differentiate their products.
This rivaroxaban market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Rivaroxaban Market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2020, the U.S. Food and Drug Administration (FDA) approved rivaroxaban for the prevention of venous thromboembolism (VTE) in acutely ill medical patients
- In 2020, the European Medicines Agency (EMA) expanded the indication of rivaroxaban to prevent atherothrombotic events in patients with coronary artery disease or symptomatic peripheral artery disease
Global Rivaroxaban Market Scope
The global rivaroxaban market is segmented on the basis of type, application, dosage, route of administration, end-users, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- 2.5mg
- 10mg
- 15mg
- 20mg
Application
- Acute coronary syndrome (ACS)
- Pulmonary embolism
- Venous thromboembolism (VTE)
- Others
Dosage
- Tablet
- Suspension
Route of administration
- Oral
- Others
End User
- Hospitals
- Clinics
- Others
Distribution channel
- Hospital pharmacy
- Retail pharmacy
- Online pharmacy
Rivaroxaban Market Regional Analysis/Insights
Rivaroxaban market is analysed and market size information is provided by the country, type, application, dosage, route of administration, end-users, and distribution channel as referenced above.
The countries covered in the rivaroxaban market report are the U.S., Canada, Mexico, Brazil, Argentina, Peru, rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, Kuwait, South Africa, rest of Middle East and Africa.
North America is expected to dominate the market due to the presence of major key players, a well-developed healthcare sector, and growing product sales with high drug costs in this region. Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to increasing research and development activities, emerging markets, rising investment in the healthcare sector, and growing government support.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The rivaroxaban market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Rivaroxaban Market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Rivaroxaban Market. The data is available for historic period 2015-2021.
Competitive Landscape and Rivaroxaban Market Share Analysis
The rivaroxaban market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Rivaroxaban Market.
Some of the major players operating in the Rivaroxaban Market are:
- Janssen Pharmaceuticals, Inc. (Belgium)
- Dr. Reddy’s Laboratories Ltd. (India)
- Anant Pharmaceuticals Pvt. Ltd.(India)
- Taj Pharmaceuticals Limited (India)
- Bayer AG (Germany)
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