Apixaban Market – Dynamics
Increasing prevalence of venous thromboembolism related conditions is expected to aid in growth of the apixaban market. For instance, according to International Society on Thrombosis and Haemostasis 2014 facts, revealed that around 10 million cases of venous thromboembolism occur annually across low, middle and high income countries. Moreover, increasing therapeutic indications for apixaban is expected to boost the apixaban market growth. For instance, in 2014, the U.S. Food and Drug Administration approved Eliquis for the treatment of deep vein thrombosis (DVT) prophylaxis and pulmonary embolism (PE) and also for the reduction in risk of recurrent PE and DVT following initial therapy. Furthermore, government and private organizations are significantly investing capital in healthcare research and development and this is also likely to propel growth of the Apixaban market. However, adverse effects of apixaban such as increased risk of thrombotic events after premature discontinuation and bleeding is expected to hamper adoption of this. This in turn is expected to adversely affect growth of the market. According to a study published in the Current Medical Research and Opinion 2017 stated about the bleeding risk associated with use of apixaban.
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Apixaban Market – Regional Insights
Based on the region, the global apixaban market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds the dominant position in terms of revenue generated by the high price of the drug in treating venous thromboembolic events. For instance, according to GoodRx Inc. 2018 pricing detail, 60 tablets of Eliquis 5mg cost around US$ 524.38 on an average in the U.S. Moreover, increasing prevalence of venous thromboembolic events has boosted adoption of apixaban in North America market significantly. For instance, according to study published in the American Journal of Preventive Medicine in 2010, venous thromboembolism (VTE) affects approximately 300,000-600,000 people in the U.S. annually, causing considerable mortality. Furthermore, venous thromboembolism (VTE) disorder can occur in all ethnicities, all age groups, and both genders.
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