Albany, NY -- (SBWIRE) -- 04/29/2019 -- Transparency Market Research (TMR) (www.transparencymarketresearch.com) has published a new report titled, "Anticoagulant Reversal Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026". According to the report, the global anticoagulant reversal drugs market was valued at US$ 607.3 Mn in 2017 and is projected to expand at a CAGR of 15.6% from 2018 to 2026. Rise in prevalence of atrial fibrillation among the geriatric population, increase in occurrence of intracranial hemorrhage and gastrointestinal hemorrhage, and surge in the number of cases of warfarin therapy requiring reversal of anticoagulants boost the growth of the global market.
AndeXXa to be Highly Lucrative Segment
The report offers detailed segmentation of the global anticoagulant reversal drugs market. Based on product, the market has been classified into prothrombin complex concentrates, vitamin K, protamine, tranexamic acid, idarucizumab, AndeXXa, and others. The vitamin K segment dominated the market in 2017. This is attributed to increase in usage of vitamin K in the reversal of warfarin anticoagulation therapy.
Furthermore, vitamin K is the preferred treatment for warfarin associated hemorrhage in the U.S. Outside the U.S., prothrombin complex concentrates (PCCs) is the common treatment for warfarin associated hemorrhage. AndeXXa is the first approved drug for the reversal of the effect of factor Xa inhibitors. Moreover, by 2020, there will be over 500,000 hospital admissions globally requiring antidote for factor Xa inhibitors. This is likely to fuel the growth of the AndeXXa segment. Furthermore, the segment is projected to be driven by strong sales of AndeXXa in the U.S., anticipated approval in Europe in mid-2019, and ongoing clinical trials in Japan.
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Hospital Pharmacies Segment Held Major Share
In terms of distribution channel, the global anticoagulation reversal drugs market has been divided into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment dominated the market in 2017 and the trend is anticipated to continue during the forecast period. Growth of the segment can be attributed to increase in focus of manufacturing companies on supplying anticoagulant reversal drugs to hospital pharmacies over other distribution channels.
North America Market to be Driven by Rise in Sales of AndeXXa
In terms of revenue, North America dominated the global anticoagulant reversal drugs market in 2017. The U.S. was the major market in the region in terms of revenue. The market in the U.S. is expected to expand at a high CAGR during the forecast period. Growth of the market in the country can be attributed to the approval of AndeXXa in May 2018 and high target population for the drug. According to estimates, the number of hospital admissions due to bleeding caused by factor Xa inhibitors has been increasing significantly, with high demand for its antidote.
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The annual rate of bleeding due to factor Xa inhibitors such as rivaroxaban and apixaban ranges between 1% and 4% in the U.S. Moreover, between 2014 and 2015, over 50,000 patients treated with Xarelto and Eliquis were admitted to hospitals for excessive bleeding. Hence, high unmet clinical needs for factor Xa inhibitors bleeding and launch of AndeXXa are the key factors expected to propel the market in North America in the next few years.
Product Launch is Key Strategy Adopted by Leading Players
The report provides profiles of leading players operating in the global anticoagulant reversal drugs market. These players include Bausch Health Companies, Inc., Pfizer, Inc., Fresenius Kabi AG, Amneal Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, CSL Limited, Octapharma AG, Portola Pharmaceuticals, Inc., and Perosphere Pharmaceuticals, Inc. In May 2018, Portola Pharmaceuticals received the U.S. FDA approval for Andexxa for reversing the effect of factor Xa inhibitors. Similarly, in October 2015, the U.S. FDA granted accelerated approval to Praxbind, developed by Bohringer Ingelheim for the reversal of anticoagulant effects of Pradaxa.
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