Seattle, WA -- (SBWIRE) -- 11/07/2019 -- Rivaroxaban, marketed as Xarelto, is a non-vitamin K antagonist oral anticoagulants (NOAC) that is used in the prevention or treatment of serious illnesses and potentially life-threatening conditions associated with blood coagulation. Rivaroxaban was discovered by Bayer and is being jointly developed with Janssen Research & Development, LLC.

Rivaroxaban can be used for the prevention of stroke in non-valvular atrial fibrillation, pulmonary embolism, and deep vein thrombosis. The therapy can also aid in preventing recurrent venous thromboembolism (VTE), VTE after elective hip and knee replacement surgery, and for secondary prevention after acute coronary syndrome.
In September 2008, Xarelto received CE approval for the treatment of venous thromboembolism in adults undergoing knee and hip replacement surgeries. Moreover, in 2011, the U.S. Food and Drug Administration (FDA) approved the drug for the same condition. The therapy is approved in over 130 countries.

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Increasing prevalence of VTE is expected to boost growth of the rivaroxaban market. For instance, according to the Centers for Disease Control and Prevention (CDC) data of 2015, around 900,000 people are expected to be affected by VTE, annually in the U.S. Furthermore, the number of affected individuals is expected to increase by around 5% to 8% in the U.S., owing to several genetic risk factors such as inherited thrombophilia.

Moreover, according to an article published in the 'Journal of The American Heart Association', 2018, a hospital-based survey suggested the global burden of disability-adjusted life-years from venous thromboembolism to be 7.6 per 100,000 person-years.

Increasing R&D to extend the application of rivaroxaban is also expected to propel growth of the market. For instance, Swiss Paraplegic Center Nottwil was investigating the drug for cervical spinal cord injury, which is in phase 4 clinical trial as on December 2017. Furthermore, Onze Lieve Vrouw Hospital and AZ Sint-Jan AV are conducting clinical trial of 10 mg rivaroxaban for the indication of chronic renal failure.

However, patent expiration of the drug, Xarelto, is expected to hinder growth of the rivaroxaban market. Patent expiration promotes development of generic drugs. Moreover, Xarelto also leads to injuries. For instance, as of January 30, 2018, Bayer Group had been served in the U.S. with around 22,000 claims of Xarelto for personal injuries from the use of Xarelto, which includes cerebral, gastrointestinal or other bleeding and death causes. Therefore, the market is expected to witness decline in revenue on the clearance of the claims.

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The market in North America is expected to account for the largest market share over the forecast period. This is attributed to increasing sale of rivaroxaban and its high cost. For instance, the cost of rivaroxaban is around US$ 450-500 per month and around 45% of the market revenue generated in 2017 was from the U.S. market.

Major players in the market are focused on offering cost-effective treatment schemes to enhance their market share. For instance, Janssen Pharmaceuticals offers Xarelto manufacturer coupon or patient assistance program to lower the cost of the drug. Major players operating in the global rivaroxaban market include, Janssen Pharmaceuticals Inc. and Bayer AG.