Increasing preference for minimally-invasive surgeries along with rise in the number of ambulatory surgical procedures, inadvertently creates a highly conducive environment for the growth of the anticoagulant reversal drugs market. Another significant boost to the sales of anticoagulant reversal drugs can be attributed to their new technology add-on payment (NTAP) status, as designated by the U.S. Following this, patients are accessing these drugs along with Medicare/Medicaid plans in hospital settings, which is projected to generate significant sales from hospital pharmacies.
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Given the relevance of these dynamics, a comprehensive study published by Fact.MR foresees that, the global anticoagulant reversal drugs market will expand at a staggering CAGR of ~16% during the forecast period (2020-2026).
Key Highlights of Anticoagulant Reversal Drugs Market Study
- Launch of novel drugs with relatively high efficiency and better recovery times could overshadow the popularity of conventional drugs such as prothrombin complex concentrates and vitamin K.
- High prices of patented drugs could impede the penetration of anticoagulant reversal drugs, especially in developing economies. In developed countries of North America and Europe, favourable reimbursement scenarios are increasing patients’ reliance on effective anticoagulant reversal drugs.
- The designation of Andexxa as an orphan drug by the U.S. Food and Drug Administration is anticipated to influence the infiltration rate of this drug during the forecast period (2020-2026). The fast-track approval of Andexxa will meet unmet clinical needs, thereby promising lucrative opportunities for players in the anticoagulant reversal drugs market.
- Manufacturers in the anticoagulant reversal drugs market are capitalizing on profitable opportunities present in developed and developing countries of Asia Pacific to target a relatively wide patient pool and enhance their market exposure. For instance, a key player—Portola Pharmaceuticals—entered into a licensing partnership with Pfizer and BMS. According to the contract, both these partner companies will have commercial rights of Andexxa in Japan.
- Hospital pharmacies are projected to generate the highest sales in the anticoagulant reversal drugs market during the forecast period. Growing number of patient admissions in hospitals and the need to control bleeding during surgeries are projected to create enormous sales opportunities for hospital pharmacies.
“Collectively, Idarucizumab and Andexxa hold a majority share in the anticoagulant reversal drugs market, owing to their utmost efficiency. However, the ‘orphan drug’ status of Andexxa could give it an edge over other drugs”, foresees a seasoned analyst at Fact.MR.
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Market Majors Focus on Branded Drugs, Regional Players Produce Generic Drugs
Boehringer Ingelheim GmbH, CSL Limited, and Portola Pharmaceuticals, Inc. dominate the anticoagulant reversal drug market. These players rely on research & development activities to introduce a range of effective drugs to enrich their portfolio. Expansion of production facilities, in turn, remains one of the top agendas of these players in the anticoagulant reversal drugs market. For example, market leader—Boehringer Ingelheim GmbH—operates through 29 production facilities located across nine countries, which are categorized into Biopharmaceuticals, Animal Health, and Human Pharmaceuticals. However, these leading players produce drugs in only one drug class, which is generally Prothrombin Complex Concentrate.
In stark contrast to THE strategies adopted by leading players in the anticoagulant reversal drugs market, regional and local players strive to consolidate their market position by increasing investments towards THE production of generic versions of branded drugs. For instance, Amneal Pharmaceutical Inc. announced the launch of Phytonadione tablets, a generic version of Mephyton.
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Find More Valuable Insights on Anticoagulant Reversal Drugs Market
Fact.MR, in its new offering, brings to the fore an unbiased analysis of the global anticoagulant reversal drugs market, presenting historical demand data (2016-2019), and forecast statistics for the period of 2023-2026. The study divulges compelling insights on the anticoagulant reversal drugs market on the basis of Product (Prothrombin Complex Concentrates, Andexxa, Vitamin K, Protamine, Tranexamic Acid, Idarucizumab, and Others) and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), across five major regions.
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