The anticoagulant reversal drugs market is valued at approximately USD 985 million in 2020 and is expected to witness a revenue of USD 1,945 million in 2026, with a CAGR of 12.01% over the forecast period.
The impact of COVID-19 on the anticoagulant reversal drugs market is expected to be significant, owing to the increasing pace of research activities on COVID-19 infection. For instance, as per the research article published in the American Journal of Cardiovascular Drugs, 2020, more than 10 clinical trials are in progress in evaluating the potential of factor Xa inhibitors in COVID-19 patients, and research on strategies for the parenteral administration of these drugs are worked upon to be used in critically ill COVID-19 patients. Thus, the COVID-19 pandemic is expected to show the direct and indirect impact on the studied market.
The major factors which are attributing to the growth of the anticoagulant reversal drugs market are a rise in the global prevalence of multiple cardiovascular indications, atrial fibrillation, an increase in intracranial and gastrointestinal hemorrhages, along the increasing geriatric population. According to the World Health Organization, an estimated 17.9 million people die due to cardiovascular diseases worldwide, each year. This represents 35% of global deaths. Additionally, 85% of these cardiovascular disease deaths are due to heart attack and stroke.
Also, according to the "Global Health And Wellness Report", about 40% of the adult population in the United States have been diagnosed with a cardiovascular condition in 2018. Similarly, there were around 7.4 million people living with heart and circulatory diseases in the United Kingdom and more than 43,000 people under the age of 75 in the United Kingdom die from heart and circulatory diseases each year as per the British Heart Foundation Centre, 2018 report. Moreover, as per the estimates of the Heart Disease and Stroke Statistics 2019, the lifetime risk of atrial fibrillation recently has been estimated to be approximately 1 in 3 among whites in the United States. Hence, the growing burden of cardiovascular diseases globally is expected to be a major factor for the increasing demand of anticoagilant reversal drugs, which in turn surges the market growth in the coming years.
Few more factors play a pivotal role in taking the market to the next level such as approval of blockbuster drugs in recent years and the presence of a strong pipeline of products within the key players will boost the growth of the global market. However, the increased prices of most of the drugs bearing patents would restrain the growth of the anticoagulant reversal drugs market in emerging economies during the forecast period.
Key Market Trends
Coagulation Factor is Expected to Hold the Largest Market Share in the Anticoagulant Reversal Drugs Market
Coagulation factors are the proteins in the blood that control bleeding and comprise various coagulation factors in the blood.
According to the research article published in the Lancet, 2020, coagulopathy of varying severity was observed in most of the COVID-19 infected patients, which was characterized by increased D-dimer levels and fibrinogen or fibrin degradation products, along with abnormal measurements in the prothrombin time, acute partial thromboplastin time, and platelet counts. Hence, thorough research on various factors affecting the bleeding and coagulation among COVID-19 patients has to be carried out to understand the pathophysiology of the causal organism. Hence, COVID-19 is expected t impact the studied segment during the pandemic.
Andexxa is the first and only approved drug for the reversal of the effect of Coagulation Factor Xa inhibitors in adult patients. Portola Pharmaceuticals launched Andexxa in 2018 and has contributed to the major share of the company's revenue. For the financial year 2019, Andexxa generated a revenue of USD 104.5 million for Portola Pharmaceuticals Inc., which was a major share in the company's revenue for the year 2019. Additionally, the company has strategic plans for the global expansion of the product such as supporting its commercial marketing partners Bristol-Meyers Squibb Company and Pfizer, Inc. to accelerate the development and commercialization of Andexxa for the Japanese market by 2020. Thus, the increasing research activities in the development of new products by companies core to the anticoagulant domain are expected to drive the growth of the studied segment over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall anticoagulant reversal drugs market, throughout the forecast period. The high growth of the studied market in North America is due to factors such as the availability of direct reimbursement policies and the availability of advanced healthcare infrastructure in the region.
COVID-19 impact on the studied market is expected to be significant in the region owing to the emergence of the relation between COVID-19 infection and blood disorders. For instance, according to the research article published by Harvard Medical School, in the American Journal of Hematology, 2020, the COVID-19 infected patients who were admitted with severe complications associated with the viral infection were found to exhibit high levels of blood-clotting protein Factor V, which could eventually lead to the development of blood clots in various organs.
In the North American region, the United States holds the largest market share due to the accelerated drug approval initiative by USFDA, and the initiation of various prevention programs and awareness workshops for blood disorders by the Centers for Disease Control and Prevention is expected to drive the market growth in this region. Also, the high prevalence of cardiovascular diseases in the United States drives the studied market. According to American Heart Association, every 40 seconds, an American will have a myocardial infarction and coronary events are estimated to occur in about 1,055,000 individuals, including 720,000 new and 335,000 recurrent coronary events in 2019 in the United States.
Additionally, several key players of the studied market have their base in the United States and are expected to explore the market through R & D activities and product approvals. Thus, given the aforementioned factors, the anticoagulant reversal drugs market is anticipated to grow significantly over the forecast period in North America.
The anticoagulant reversal drugs market is consolidated and consists of few major players. The key players of the studied market include Pfizer Inc, Boehringer Ingelheim GmbH, CSL Behring Limited, Portola Pharmaceuticals Inc, Octapharma AG among others. Some prominent players are vigorously making acquisitions with the other companies to consolidate their market positions across the globe and while others are launching generic products, along with increasing the investment in research and development activities. For instance, in December 2020, OctaPharma USA presented the results of clinical research that was performed to evaluate the safety and efficacy of fibryga, a Human Fibrinogen Lyophilized Powder for Reconstitution, indicated for intravenous use in the treatment of congenital and acquired bleeding disorders in the 62nd American Society of Hematology (ASH) Annual Meeting and Exposition.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increasing Geriatric Population and Growing Blood Disorders
- 4.2.2 New Product Launches due to Accelerated Drug Approval Initiative by USFDA
- 4.3 Market Restraints
- 4.3.1 Stringent Regulatory Reforms due to Severe Risks Associated with the Reversal of Anticoagulation
- 4.3.2 Higher Challenges in Development Stage and Expensive Patented Products
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Drug Class
- 5.1.1 Prothrombin Complex Concentrates
- 5.1.2 Coagulation Factors
- 5.1.3 Monoclonal Antibodies
- 5.1.4 Phytonadione
- 5.1.5 Others
- 5.2 By End-User
- 5.2.1 Hospital Pharmacies
- 5.2.2 Retail Pharmacies
- 5.2.3 Others
- 5.3 Geography
- 5.3.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 5.3.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 184.108.40.206 GCC
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East and Africa
- 5.3.5 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Portola Pharmaceuticals Inc
- 6.1.2 Boehringer Ingelheim GmbH
- 6.1.3 CSL Behring Limited
- 6.1.4 Pfizer Inc
- 6.1.5 Octapharma AG
- 6.1.6 Bausch Health Companies Inc
- 6.1.7 Amneal Pharmaceuticals Inc
- 6.1.8 Fresenius Kabi AG
- 6.1.9 Perosphere Pharmaceuticals Inc
- 6.1.10 Ferring Pharmaceuticals, Inc.
- 6.1.11 Midas Pharma GmbH
- 6.1.12 Healthy Life Pharma Pvt Ltd
- 6.1.13 Pharma Cure Laboratories
- 6.1.14 Nischi Lifesciences
7 MARKET OPPORTUNITIES AND FUTURE TRENDS