09-Feb-2023 | Zion Market Research
The global anticoagulant reversal drugs market size is worth around US$ 0.83 Billion in 2021 and is projected to grow around USD 2.25 Billion by 2030, with a compounded annual growth rate (CAGR) of roughly 11.27% from 2022 to 2030.
Anticoagulants are medications that are essentially used to ward off the layer of blood from getting thick. Anticoagulants play a major role in helping patients suffering from lethal conditions including pulmonary embolisms and heart attacks. Several reversal agents such as Xarelto and Eliquis are extensively used to counter the effect of severe situations of uncontrolled and prolonged bleeding.
Vitamin K or Praxbind (idarucizumab) is another such medication that is given to prevent anticoagulants from working, and hence it has been approved for emergency situations.
The demand for anticoagulant reversal drugs is expected to surge exponentially due to an increase in cases of bleeding disorders and abnormal blood coagulation among people. Gastrointestinal (GI) hemorrhage and intracranial hemorrhage (ICH) are becoming more and more prevalent among people. Besides, the increase in cases of heart attacks and the surge in the geriatric population further drive the growth of the global anticoagulant reversal drugs market.
In addition, an increase in the adoption of new technologies, the development of novel medications, and the increase in R&D activities for effective drug development procedures by prominent players in the market create ample opportunities for the growth of the anticoagulant reversal drugs industry. On the other hand, the high cost of drugs and various complications regarding the side effects of the drugs restrict the growth of the market to an extent.
The global anticoagulant reversal drugs market is segmented into product type, distribution channel, and region.
Based on product type, the global market is bifurcated into idarucizumab, protamine, prothrombin complex concentrates, coagulation factors, phytonadione, andexanet alfa, and others. The coagulation factors segment held the largest market share in 2021 and is further expected to surge exponentially at a promising CAGR during the forecast period.
This segment is driven by increased cases of blood clotting during COVID-19 in most of the patients. Hence, coagulopathy of differing extremities was witnessed in most of the COVID-19-infected patients. This marked the exponential growth of this segment. On the other hand, the andexanet alfa segment is anticipated to grow at a promising CAGR during the forecast period.
This is mainly due to the approval and launch of andexanet alfa in key markets as a remarkable reimbursement scenario for andexanet alfa is witnessed in the market that drives the growth of the segment during the forecast period.
Based on distribution channel, the global market is bifurcated into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment held the largest market share in 2021 and is further predicted to grow rapidly at a significant CAGR during the forecast period.
The growth of this segment is because hospitals are the key diagnostic and treatment sites for different kinds of bleeding disorders, and hence cases of immoderate bleeding during critical situations are further driving the growth of the segment. On the other hand, the retail pharmacy segment held the second-largest market share in 2021 and is further predicted to grow at a promising CAGR during the forecast period.
Based on region, the North American region held the dominating market share in 2021 and is further predicted to grow at a promising CAGR during the forecast period. The major reason for the growth of the market is the presence of prominent players, the rise in geriatric populations, expensive healthcare, the prevalence of different types of bleeding disorders among people, the increase in R&D activities, and the presence of advanced healthcare infrastructure in this region.
This review is based on a report by Zion Market Research, titled “Anticoagulant Reversal Drugs Market By Product Type (Idarucizumab, Protamine, Prothrombin Complex Concentrates, Coagulation Factors, Phytonadione, Andexanet Alfa, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/anticoagulant-reversal-drugs-market
The global anticoagulant reversal drugs market is dominated by players such as:
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