The global anticoagulant reversal drugs market is on track to experience significant growth in the short term, as highlighted by the latest market insights. The report delves into the factors shaping the markets growth trajectory over the next few years.
Demand Escalates in Anticoagulant Reversal Drugs Market as Bleeding Disorders Continue to Prevail at a Notable Pace
The surge in demand for anticoagulant reversal drugs can be primarily attributed to the increasing prevalence of various cardiovascular diseases worldwide, such as atrial fibrillation, gastrointestinal and intracranial hemorrhages, and the growing elderly population. According to the World Health Organization, cardiovascular diseases claim the lives of 17.9 million individuals globally each year, with heart attacks and strokes accounting for 85% of these deaths. Other significant drivers include the approval of novel medications, rising incidences of bleeding disorders, and the expanding indications for anticoagulant therapy. Bleeding disorders like hemophilia A and B, von Willebrand disease, and blood clots contribute to the need for anticoagulant reversal drugs during uncontrolled bleeding, thereby accelerating market growth.
Anticoagulant Reversal Drugs Market: COVID-19 Impact
The ongoing research on COVID-19 infection is expected to have a substantial impact on the anticoagulant reversal drugs market. Multiple clinical studies are currently assessing the potential of factor Xa inhibitors in COVID-19 patients, with research focusing on methods of administering these medications to critically ill COVID-19 patients. Consequently, the COVID-19 pandemic is anticipated to exert both direct and indirect effects on the market.
Increase in GI and ICH Hemorrhage Rates to Drive Demand for Anticoagulant Reversal Drugs Market
Patients receiving direct oral anticoagulants (DOAC) often experience intracranial hemorrhages (ICH) and gastrointestinal hemorrhages (GI). GI hemorrhages are particularly common due to poor GI absorption, leading to higher local drug levels. The need to manage bleeding events associated with DOACs is expected to boost the global anticoagulant reversal drugs market during the forecast period.
Rising Necessity of Anticoagulants Further Paves the Way for Anticoagulant Reversal Drugs Market
The increasing demand for anticoagulant reversal drugs to address uncontrolled bleeding is predicted to drive market growth. Blood clots, von Willebrand disease, and bleeding disorders like hemophilia A and B are among the most prevalent bleeding conditions. These disorders can lead to uncontrollable bleeding, making anticoagulants essential and increasing the demand for anticoagulant reversal medications.
Higher Costs Hamper Anticoagulant Reversal Drugs Market Growth
One of the challenges facing the market is the high cost of anticoagulant reversal drugs, which could hinder growth. For example, the recommended dose of 4-F PCC (Kcentra) for treating bleeding caused by apixaban or rivaroxaban is expensive, potentially limiting access to these drugs. To address this cost concern, regional and local players are exploring options to introduce generic medications.
Idarucizumab to Dominate Anticoagulant Reversal Drugs Market Based on Increased Efficacy
The idarucizumab segment is expected to witness the highest growth during the forecast period, driven by its efficacy and specificity. This anticoagulant reversal drug has gained popularity due to its swift clearance and high demand in critical regions.
With Increased Use During Surgeries, Hospital Pharmacies Dominate Anticoagulant Reversal Drugs Market
Hospital pharmacies dominate the anticoagulant reversal drugs market, primarily due to their role in diagnosing and treating bleeding disorders. These pharmacies play a crucial role in addressing emergencies related to uncontrolled bleeding during surgeries, further propelling market growth.
North America to Acquire a Major Value Share in Anticoagulant Reversal Drugs Market
North America holds the largest revenue share in the anticoagulant reversal drugs market and is expected to maintain its leadership position. Factors such as favorable healthcare reimbursement policies and advanced healthcare infrastructure contribute to the regions rapid market expansion.
Global Anticoagulant Reversal Drugs Market: Competitive Landscape
Key players in the anticoagulant reversal drugs market include Alveron Pharma BV, Portola Pharmaceuticals, Boehringer Ingelheim, CSL Behring, Bausch Health Companies Inc., Octapharma AG, Dr. Reddys Laboratories, AMAG Pharmaceuticals, Inc., Pfizer, Inc., SGPharma Pvt. Ltd., Alps Pharmaceutical Ind. Co., Ltd., Fresenius Kabi AG, Mundipharma International Limited, and Hisamitsu Pharmaceutical Co., Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/anticoagulant-reversal-drugs-market
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COMTEX_442430665/2840/2023-10-25T09:54:57