LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global venous thromboembolism therapeutics market is expected to grow at a CAGR of more than 6% during the forecast period.
This research report titled ‘Global Venous Thromboembolism (VTE) Therapeutics Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Sapna Jha, a lead analyst at Technavio for cardiovascular and metabolic disorders research, “The global VTE therapeutics market is expected to benefit from the growing incidence of VTE worldwide. According to the CDC, every year around 0.9 million individuals are affected by VTE in the US, of which 60,000 to 100,000 individuals succumb to this illness. Further, the presence of high unmet medical needs is expected to fuel the market growth.”
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The market research analysis categorizes the global VTE therapeutics market into four major segments based on drug class. They are:
- Factor Xa inhibitors
- Direct thrombin inhibitors
- Vitamin K antagonists
Factor Xa inhibitors
The Factor Xa inhibitor drugs market is growing at a fast pace with a CAGR of more than 11%, owing to the approval of novel oral anticoagulants (NOACs) such as rivaroxaban (Xarelto), edoxaban (Savaysa), and apixiban (Eliquis). These direct oral Factor Xa inhibitor drugs show better safety and efficacy profiles when compared to conventional drugs such as heparin.
Xarelto occupies a major share of the market and is an important drug in the market. Eliquis and Xarelto are recommended as efficacious alternatives of warfarin or aspirin for anticoagulation and stroke prevention by the American Heart Association and the American Stroke Association.
Direct thrombin inhibitors
The direct thrombin inhibitors market is growing at a moderate pace. This can be attributed to the NOAC, dabigratan (Pradaxa), which was approved in 2010. The approval of reversal agent, Praxbind, will further increase the adoption rates, thereby driving the market growth. Praxbind is indicated for individuals treated with Pradaxa when reversal of the anticoagulant effects of the drug is needed for emergency procedures or in life-threatening or uncontrolled bleeding.
The global heparin market for VTE is expected to grow at a low rate during the forecast period due to the loss of patent exclusivity and easy availability of generics. For instance, Lovenox is the leading product in the market. Other major products include Fragmin, Fraxiparine, and Innohep. All these products have lost their patents, and their generics are easily available in the market.
“However, the rising incidence of acute coronary syndrome and macrovascular disease leading to thrombosis may influence the market. Also, exploiting the novel therapeutic applications of heparin and the emergence of strategic alliances among vendors may help offset the market,” says Sapna.
Vitamin K antagonists
The market for vitamin K antagonists is gradually declining owing to the increased acceptability of NOACs in the market. Coumadin (warfarin sodium) is the single largest vitamin K antagonist used in the market. The generic component of the drug was approved in 1997, but the shares of the drug are declining due to intense competition from Xarelto and Pradaxa. Also, the endorsement of healthcare organizations to use heparin than the Vitamin K antagonists will hinder the growth prospects further.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- Bayer HealthCare
- Boehringer Ingelheim
- Daiichi Sankyo
- Johnson & Johnson
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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