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Rivaroxaban belongs to a class of anticoagulants known as direct factor Xa inhibitors that are used to prevent blood clots in the veins and arteries. It is commonly prescribed for conditions such as deep vein thrombosis (DVT), pulmonary embolism (PE), atrial fibrillation (AF), and to reduce the risk of cardiovascular events in patients with acute coronary syndrome (ACS). Rivaroxaban offers several advantages over other anticoagulants as it has a rapid onset of action, predictable pharmacokinetics, less interactions with food and other drugs, and fixed oral dosing without routine coagulation monitoring. The global Rivaroxaban market is expanding rapidly due to the growing prevalence of cardiovascular disorders and increasing demand for more convenient anticoagulants.
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 key trends:
One of the key trends in the Rivaroxaban market is the increase in new product launches. In 2020, Bayer AG launched a new authorized generic version of rivaroxaban called Baycol to reduce healthcare costs. Generic versions help in expanding patient access to important medicines. Another trend is the high demand in emerging economies. Countries like India, China, Brazil and others are witnessing rising incidences of thromboembolic disorders due to increasing risk factors such as sedentary lifestyles, obesity and smoking. This is fueling the sales of novel oral anticoagulants including rivaroxaban in these untapped markets. Furthermore, ongoing clinical trials evaluating the efficacy of rivaroxaban in new therapeutic areas such as acute limb ischemia, hemodialysis and cardioversion are anticipated to support market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as rivaroxaban market is dominated by few major global players and requires high R&D and capital investments.
Bargaining power of buyers: The bargaining power of buyers is moderate as rivaroxaban has limited substitutes and buyers have few alternatives.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the presence of many raw material suppliers and commodity nature of raw materials.
Threat of new substitutes: The threat of new substitutes is moderate as rivaroxaban faces competition from apixaban and dabigatran.
Competitive rivalry: The competition among existing players is high due to their global presence and large product portfolio.
Key Takeaways
The global rivaroxaban market is expected to witness high growth. 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 comprises the North America region dominates the global rivaroxaban market and is expected to maintain its leading position during the forecast period, supported by growing prevalence of cardiovascular diseases and increasing uptake of oral anticoagulants. The Europe region follows North America and is a major contributor to the global market, supported by rising cases of atrial fibrillation, increasing initiatives to spread awareness about stroke prevention, and expanding penetration of rivaroxaban.
Key players operating in the rivaroxaban market are Janssen Pharmaceuticals Inc. and Bayer AG. Janssen Pharmaceuticals Inc. offers Xarelto, which holds a major market share in the global rivaroxaban market. Bayer AG offers Xarelto through its Bayer Pharma business. Increasing sales of Xarelto by the key players is a major factor driving the global rivaroxaban market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
