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Apixaban Drug market: Introduction

  • Apixaban is an anticoagulant drug that is used to treat and prevent blood clots as well as stroke in patients who have nonvalvular atrial fibrillation. Moreover, apixaban is also used after hip or knee replacement surgery to avoid the formation of a blood clot, known as deep vein thrombosis (DVT), which can lead to blood clots in the lungs (pulmonary embolism). It is utilized as an alternative to warfarin and does not require blood testing or dietary restrictions. Apixaban belongs to a class of drugs known as factor Xa inhibitors. It works by inhibiting the activity of a natural substance that aids in the formation of blood clots.
  • Eliquis is the brand name for apixaban. It is consumed in the form of tablets. Bleeding and nausea are common side-effects. Bleeding around the spine and allergic reactions are possible side-effects. It is not advised to use apixaban during pregnancy or during breastfeeding. Its use appears to be relatively safe in people with mild renal issues. Eliquis has less interactions with other medicines than warfarin.

Key Drivers, Restraints, and Opportunities of Global Apixaban Drug market

  • Rise in prevalence of venous thromboembolism-related diseases is projected to boost the apixaban drug market. For instance, according to Centers for Disease Control and Prevention, approximately 900,000 people could be affected (1 to 2 per 1,000) each year in the U.S. CDC estimates that around 60,000-100,000 people in the U.S. die as a result of DVT/PE (also called venous thromboembolism).
  • Expanding therapeutic indications for apixaban drug are also anticipated to drive the market. For instance, in 2014, the FDA approved Eliquis (apixaban) for the treatment of deep vein thrombosis (DVT) and pulmonary embolism (PE), as well as for the reduction of the risk of recurrent DVT and PE after initial therapy. In 2020, the FDA approved two applications for the first generic Eliquis (apixaban) tablets to lower the risk of stroke and systemic embolism in patients with nonvalvular atrial fibrillation.
  • However, apixaban's side-effects, such as an increased risk of thrombotic events following premature discontinuation and bleeding, are likely to hinder its adoption. This, in turn, is projected to restrain the market. Furthermore, government and private organizations are investing heavily in healthcare research and development, which is expected to drive the apixaban drug market.

North America to Capture Major Share of Global Apixaban Drug Market

  • North America dominates, in terms of revenue, owing to the drug's high price in treating venous thromboembolic events. Moreover, a rise in the prevalence of venous thromboembolic events has considerably increased the adoption of apixaban drugs in the region.
  • The apixaban drug market in Asia Pacific is estimated to expand at a rapid pace during the forecast period owing to rapid increase in population and rise in healthcare initiatives by different governments in the region

Key Players Operating in Global Apixaban Drug Market

Key market players have been focusing on increasing R&D activities and launching new products. Major players operating in the global apixaban drug market are listed below:

  • Bristol-Myers Squibb
  • Pfizer

Global Apixaban Drug market: Research Scope

Global Apixaban Drug market, by Distribution Channel

  • Hospitals
  • Retail Pharmacies
  • Online Pharmacies

Global Apixaban Drug market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Apixaban Drug Market

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