Overview and Scope
Apixaban is an oral anticoagulant medication that belongs to a class of drugs known as direct oral anticoagulants (DOACs). It is used to reduce the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation, a type of irregular heartbeat. Apixaban is prescribed for the prevention and treatment of deep vein thrombosis (DVT) and pulmonary embolism (PE), as well as for the prevention of DVT, which can lead to PE in patients who have undergone hip or knee replacement surgery.
Sizing and Forecast
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 growth in the historic period can be attributed to increased incidence of atrial fibrillation, aging population, regulatory approvals and expansions, favorable clinical outcomes, and shift from warfarin to NOACs.
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 9.0%. The growth in the forecast period can be attributed to continued incidence of cardiovascular diseases, increasing awareness and diagnosis rates, expansion in emerging markets, aging global population, health policy and reimbursement changes. Major trends in the forecast period include advancements in drug delivery systems, increasing research and developments, innovation and collaborations, approval of apixaban by the FDA, digital health and telemedicine.
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Segmentation & Regional Insights
The apixaban market covered in this report is segmented –
1) By Dosage Form: Capsule, Tablets
2) By Application: Deep Vein Thrombosis (DVT), Pulmonary Embolism (PE)
3) By End-Users: Hospitals, Homecare, Specialty Clinics, Other End-Users
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.
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Major Driver Impacting Market Growth
The rising prevalence of cardiovascular disease is expected to propel the growth of the apixaban market going forward. Cardiovascular disease encompasses a range of conditions affecting the heart and blood vessels, including coronary artery disease, stroke, and heart failure. The rising prevalence of cardiovascular disease is due to sedentary lifestyles, poor dietary habits, tobacco use, obesity, high blood pressure, diabetes, and aging populations. Apixaban is utilized in the management of cardiovascular disease by reducing the risk of blood clots by preventing conditions such as stroke, deep vein thrombosis, and pulmonary embolism. For instance, in January 2024, according to the American Heart Association, a US-based nonprofit organization, the number of deaths caused by cardiovascular diseases reached 931,578, an uptick of fewer than 3,000 fatalities compared to the 928,741 in 2023. Therefore, the rising prevalence of cardiovascular disease drives the growth of the apixaban market.
Key Industry Players
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
The apixaban market report table of contents includes:
1. Executive Summary
2. Apixaban Market Characteristics
3. Apixaban Market Trends And Strategies
4. Apixaban Market – Macro Economic Scenario
5. Global Apixaban Market Size and Growth
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32. Global Apixaban Market Competitive Benchmarking
33. Global Apixaban Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Apixaban Market
35. Apixaban Market Future Outlook and Potential Analysis
36. Appendix
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