Anticoagulant Reversal Drugs Market estimated to grow at a CAGR of 12.6% from 2020 to 2027 COVID-19 Impact and Global Analysis
According to our new market research study on “Anticoagulant Reversal Drugs Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, and Distribution channel,” the market is expected to reach US$ 2,276.54 million in 2027 from US$ 922.55 in 2019; it is estimated to grow at a CAGR of 12.6% from 2020 to 2027. The report highlights trends prevailing in the global anticoagulant reversal drugs market, and the factors governing the market growth.
Anticoagulant reversal drugs are required to reverse the effect of anticoagulation in certain situations such as unplanned surgery, overdose of anticoagulant therapy, and uncontrolled bleeding. Anticoagulant reversal drugs are used in medical conditions such as venous thromboembolism, atrial fibrillation (AF), mechanical valve replacement, and other coagulation disorders such as antiphospholipid antibody syndrome and Factor V Leiden. The growth of the anticoagulant reversal drug market growth is mainly attributed to the factors such as rising prevalence of atrial fibrillation (AFib) and stroke. However, the high cost of anticoagulant reversal drugs is restricting the market growth.
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Anticoagulant Reversal Drugs Market Competitive Landscape
Boehringer 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 in the anticoagulant reversal drugs market.
The global anticoagulant reversal drugs market growth is mainly attributed to the rising prevalence of atrial fibrillation (AFib) and stroke. However, the high cost of anticoagulant reversal drugs is restricting the market growth.
Rise in Prevalence of Atrial Fibrillation (AFib)
Oral anticoagulants are widely used and are highly effective in preventing thromboembolism among AFib patients. However, the use of anticoagulants may lead to bleeding in AFib patients; thus, anticoagulant reversal drugs are used to prevent bleeding.
As per the Centers for Disease Control and Prevention (CDC), in 2018, in the US, AFib was mentioned on around 175,326 death certificates and was the primary cause of death in about 25,845 of those deaths. Additionally, it has also anticipated that 12.1 million people in the US will have AFib by 2030.
Moreover, according to the European Society of Cardiology (ESC), in 2016, 7.6 million people above 65 years of age in the EU had atrial fibrillation and it is expected that the number will increase by 89% to reach 14.4 million by 2060. Similarly, as per the Stroke Association: State of the Nation 2017, more than 1 million people in the UK suffer from atrial fibrillation.
Anticoagulant Reversal Drugs Market Segmentation Review
Based on product, the anticoagulant reversal drugs market is segmented into prothrombin complex concentrates, vitamin k, protamine, tranexamic acid, idarucizumab, and AndeXXa. The prothrombin complex concentrates segment held the largest share of the market in 2019; whereas, the AndeXXa segment is estimated to register the highest CAGR in the market during the forecast period. Prothrombin complex concentrates are widely used as a reliable and fast alternative to fresh frozen plasma and controls excessive bleeding.
Based on distribution channel, the anticoagulant reversal drugs market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment held the largest share of the market in 2019, and is estimated to register the highest CAGR in the market during the forecast period.
Anticoagulant Reversal Drugs Market – by Product
- Prothrombin Complex Concentrates
- Vitamin K
- Tranexamic Acid
Anticoagulant Reversal Drugs Market – by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
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