Anticoagulant Reversal Drugs Market to Witness Substantial Growth Due To Rise in Approval and Launch of Novel Therapies
A range of reversal agents are available for these anticoagulants, including acenocoumarol and phenindione which can be administered orally or via intravenous injection. Urgent reversal of parenteral and subcutaneous anticoagulants is essential for patients with clinically relevant bleeding or to avoid a potential adverse event before surgery. A combination of general measures and drug-specific management is needed, with laboratory evaluations being essential for guiding reversal decisions.
Increasing number of approval and launch of novel therapies is projected to augment growth of the global anticoagulant reversal drugs market over the forecast period. Several market players are focused on getting approvals of and launching new therapies in the market. For instance, in March 2022, AstraZeneca received approval from authorities in Japan for its Ondexxya (andexanet alfa) for patients treated with the Factor Xa inhibitors, edoxaban, rivaroxaban, or apixaban when anticoagulation reversal is required, owing to uncontrollable bleeding.
The global Anticoagulant Reversal Drugs Market is estimated to be valued at US$ 861.6 million in 2021 and is expected to exhibit a CAGR of 14.9% during the forecast period (2021-2028).
However, factors such as high cost and side effects of medicines is likely to impede growth of the global anticoagulant reversal drugs market over the forecast period. The outbreak of coronavirus majorly impacted the global anticoagulant reversal market. Throughout this period, research activities on COVID-19 infection increased significantly. For instance, as per the data of the American Journal of Cardiovascular Drugs, there were more than 10 clinical trials in progress during 2020 for evaluating the potential of factor Xa inhibitors among patients suffering from the COVID-19 infection. Moreover, the number of COVID-19 patients developed abnormal blood clotting. This in turn created strong demand for anticoagulants during the epidemic of COVID-19. Thus, the pandemic positively impacted the market.
Key Takeaways:
The global anticoagulant reversal market is anticipated to grow with a CAGR of 14.9% during the forecast period, due to rise in prevalence of bleeding disorders. For instance, as per the Centers for Disease Control and Prevention, one in 5,000 male births suffer Hemophilia and nearly 400 babies born every year with hemophilia A.
North America among regions is projected to gain strong growth in the global Anticoagulant Reversal Drugs Market over the forecast period. This can be attributed to increasing number development of novel products, growing approvals, and launch of novel anticoagulation reversal drugs in Canada and the U.S.
Key players active in the global anticoagulant reversal market are Fresenius Kabi AG, Portola Pharmaceuticals, Alps Pharmaceutical Ind. Co., Ltd., Boehringer Ingelheim, SGPharma Pvt. Ltd., CSL Behring, Pfizer, Inc., Bausch Health Companies Inc., AMAG Pharmaceuticals, Inc., Octapharma AG, and Dr. Reddy's Laboratories
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