Pune, India, April 07, 2021 (News) — According to our new research study on “Anticoagulant Reversal Drugs Market to 2027 – Global Analysis and Forecast – by Product and Distribution Channel,” the Anticoagulant Reversal Drugs Market was valued at US$ 922.55 million in 2019 and is projected to reach US$ 2,276.54 million by 2027; it is expected to grow at a CAGR of 12.6% during 2020–2027. The growth of the market is attributed to rise in prevalence of atrial fibrillation (AFib) and increase in prevalence of stroke. However, the high cost of anticoagulant reversal drugs is hindering the anticoagulant reversal drugs market growth.
Anticoagulant Reversal Drugs Market: Key InsightsIn 2019, North America dominated the anticoagulant reversal drugs market and with approximately half of the market revenue share. The market growth in North America is credited to the increasing incidence of cardiovascular diseases due to changes in lifestyle, and government support for the prevention and treatment of cardiovascular diseases.
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As the COVID-19 crisis moves forward due to lockdown and supply chain disruptions that have affected the sales and manufacturing of anticoagulant reversal drugs for a short period, overall prospects for market growth are considered to be positive. On the basis of product, the anticoagulant reversal drugs market is segmented into Prothrombin Complex Concentrates, Vitamin K, AndeXXa, Protamine, Idarucizumab, and Tranexamic Acid. The prothrombin complex concentrates segment accounted for more than 25% of the market in 2019. On the basis of distribution channel, the anticoagulant reversal drugs market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment is expected to register the highest CAGR in the market during the forecast period.
Anticoagulant reversal drugs are required to reverse the effect of anticoagulation in situations such as unplanned surgeries, anticoagulant therapy overdose, and uncontrolled bleeding. Oral anticoagulants are widely used and are highly effective in preventing thromboembolism among AFib patients. However, the administration may lead to bleeding in these patients, which can be prevented through the use of anticoagulant reversal drugs. These drugs are being used for treating venous thromboembolism, atrial fibrillation (AF), mechanical valve replacement, and other coagulation disorders such as antiphospholipid antibody syndrome and Factor V Leiden. As per the Centers for Disease Control and Prevention (CDC), in 2018, AFib was mentioned on around 175,326 death certificates in the US, and it was a primary cause of death in ~25,845 of these mortalities. Additionally, the number of AFib patients is anticipated to reach 12.1 million in the country by 2030. Thus, such high prevalence of AFib in many countries in the world is favoring the growth of the anticoagulant reversal drugs market
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Anticoagulant Reversal Drugs Market: Segmental OverviewIn terms of products, the AndeXXa segment is anticipated to register the highest CAGR in the anticoagulant reversal drugs market during the forecast period. In terms of distribution channel, the hospital pharmacies segment accounted for more than 40% share in global anticoagulant reversal drugs market in 2019.
Anticoagulant Reversal Drugs Market: Competition Landscape & Key DevelopmentsBoehringer Ingelheim International GmbH; Pfizer Inc; Octapharma AG; Amag Pharmaceuticals, Inc; Fresenius Kabi AG; Alexion Pharmaceuticals, Inc. (Portola Pharmaceuticals); CSL Limited; China Biologic Products, Inc; Grifols, S.A; and Shanghai RAAS Blood Products Co., Ltd. are among the key companies operating in the global anticoagulant reversal drugs market. The leading players are focusing on the expansion and diversification of their market presence, and acquisition of new clientele, thereby tapping prevailing business opportunities.
In July 2020, Alexion completed the acquisition of Portola. The acquisition added Andexxa, a Factor Xa inhibitor reversal agent, to Alexion’s commercial portfolio. Marketed as Ondexxya in Europe, Andexxa is a recombinant coagulation factor Xa, with inactivated-zhzo.
In April 2018, Boehringer Ingelheim made an announcement regarding the US Food and Drug Administration (FDA) approval of Praxbind (idarucizumab), which is the specific reversal agent for Pradaxa (dabigatran etexilate mesylate).
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