Rivaroxaban Market is Expected to Propelled by increasing prevalence of atrial fibrillation

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Rivaroxaban is an oral anticoagulant drug used for preventing strokes in patients with nonvalvular atrial fibrillation and treating deep vein thrombosis (DVT) and pulmonary embolism (PE). It offers fixed single daily dosing without the need for routine monitoring through blood tests.

 

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: The increasing prevalence of atrial fibrillation and deep vein thrombosis has been a key growth driver for the Rivaroxaban market. According to recent estimates, around 33.5 million people are suffering from atrial fibrillation globally. Further, deep vein thrombosis affects over 900,000 Americans every year. Rivaroxaban has emerged as an effective anticoagulant for managing these conditions with its advantages over warfarin such as fixed single daily dosing and lack of need for routine monitoring through blood tests. This has contributed to its increasing uptake in such patients thereby propelling the market growth over the forecast period.

SWOT Analysis
Strength: Rivaroxaban is an oral anticoagulant that provides an alternative to current anticoagulant drugs like warfarin. It has predictable pharmacological effects without the need for coagulation monitoring.
Weakness: Rivaroxaban has specific drug and food interactions. It is also associated with certain risks like bleeding.
Opportunity: Rise in prevalence of thromboembolic disorders will drive the demand for new oral anticoagulants like rivaroxaban. Growing elderly population prone to such conditions offers new opportunities.
Threats: Entry of generic versions and alternate novel oral anticoagulants pose competition to rivaroxaban. Stringent regulations associated with new drug approvals are also a challenge.

Key Takeaways
The global rivaroxaban market is expected to witness high growth over the forecast period. 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.

North America is currently dominating the market owing to high prescription rates for rivaroxaban in VTE and AF indications. The growing prevalence of cardiovascular conditions and increasing access to novel drugs in developing Asian markets will boost the regional market over the coming years.

Key players operating in the rivaroxaban market are Janssen Pharmaceuticals Inc. and Bayer AG. Janssen Pharmaceuticals Inc. markets rivaroxaban under the brand name Xarelto. It has garnered significant share with extensive clinical research and marketing support for Xarelto. Bayer AG co-developed rivaroxaban with Janssen Pharmaceuticals Inc. and shares the profits from its sales globally. Both companies are investing in developing the market for new indications to stay competitive amid rising entry of generics.

*Note:

1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it

Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.