Novel oral anticoagulants (NOACs) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Novel Oral Anticoagulants (NOACs) Market is segmented By Drug Class (Direct thrombin inhibitors, Direct factor Xa inhibitors, Others), By Indication(Atrial fibrillation (AF), Nonvalvular atrial fibrillation (AF), Deep vein thrombosis, Others), By Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2024-2031

Report Overview

Novel Oral Anticoagulants (NOACs) Market is expected to reach at a CAGR of 10.20% during the forecast period (2024-2031).

The novel oral anticoagulants (NOACs) are a new class of anticoagulant drugs. NOACs can help prevent clots from forming in the first place and help protect from certain types of stroke.

Market Summary

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Market Dynamics

Clinical trials conducted by the key players are expected to drive market growth.

Boehringer Ingelheim is one of the world's largest pharmaceutical companies and the largest private one, headquartered in Germany. Pradaxa was thoroughly investigated in thromboembolic disorders in the RE-VOLUTION clinical trial program. The RE-LY trial showed the efficacy and safety profiles of two dabigatran dosages for stroke prevention in patients with AF compared to well-controlled warfarin. Moreover, the RE-LY extension study found consistent dabigatran outcomes after 6.7 years of follow-up. The excellent safety profile of dabigatran at doses recommended for stroke prevention in AF is supported by RCT data from patients with AF undergoing cardiac procedures or following PCI. Thus, it is expected to drive market growth from the above statements.

Fewer Side Effects associated with the novel oral anticoagulants (NOACs) are expected to hamper the market growth.

Dabigatran when administered through the oral route is used to decrease the risk of stroke and blood clots in patients with a serious heart rhythm problem called nonvalvular atrial fibrillation. Along with its needed effects, a medicine may cause some unwanted effects. For instance, Chest pain, discomfort, tightness, cough, difficulty with swallowing, fainting or loss of consciousness, fast heartbeat are some of the rare side effects seen and acid or sour stomach, belching, black, tarry stools are some of the common side effects seen. Moreover, higher costs of the drugs and the factors mentioned above are expected to hamper the market in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic has moderately impacted healthcare systems and the market. The pathophysiology of SARS-CoV-2 coronavirus infection reveals that hemorheological problems substantially impact the disease's progress and prognosis. Chronic cardiovascular illnesses are linked to the probability of a severe course and deadly results in COVID-19 and other infectious diseases. Taking NOACs reduces the risk of a severe course and negative outcomes in the development of SARS-CoV-2 coronavirus infection, indicating that coagulation processes play a substantial role in COVID-19 pathogenesis. In patients who received appropriate oral anticoagulant therapy for treating a non-severe form of coronavirus infection in ambulatory patient settings, there were no indications for drug replacement or anticoagulant therapy regimen adjustment. Moreover, the pandemic is interrupting the medical supply chain, and many companies will vary to other geographic regions in the future to ensure that products remain available and protect their supply chain. Thus, the market will undergo impetus during the forecast period.

Market Segment Analysis

Direct factor Xa inhibitors segment is expected to hold the largest market share in novel oral anticoagulants (NOACs) market.

The direct factor Xa inhibitors segment accounted for the largest market share in 2020. NOACs have an improved efficacy/safety ratio and a predictable anticoagulant effect without the need for routine coagulation monitoring. Novel oral anticoagulants (NOACs) include apixaban, rivaroxaban, and edoxaban. NOACs are alternatives to warfarin for high-risk patients (including those with a history of stroke) who have atrial fibrillation. Atrial fibrillation (AF) is the most common sustained cardiac arrhythmia, leading to significant morbidity and mortality, predominantly from ischemic stroke. Vitamin K antagonists, mainly warfarin, have been used for decades to prevent ischemic stroke in AF. Still, their use is limited due to interactions with food and other drugs and the regular monitoring of the international normalized ratio. Rivaroxaban, a direct factor Xa inhibitor and the most commonly used non-vitamin K oral anticoagulant, avoids many of these challenges and is prescribed with increasing frequency for stroke prevention in non-valvular AF. Moreover, real-world research suggests that rivaroxaban has a higher treatment adherence rate, possibly due to its once-daily dosing regimen. Furthermore, patients who adhere to rivaroxaban medication had the greatest self-reported quality of life scores. Patient satisfaction with rivaroxaban therapy is often good, contributing to overall positive clinical results. Thus, the segment is expected to hold the largest market share in the forecast period from the above statements.

Market Geographical Share

Europe region holds the largest market share in the global stroke prevention in novel oral anticoagulants (NOACs) market.

In 2020, Europe accounted for the highest revenue share. The incidence and prevalence of atrial fibrillation (AF) have increased over time. They are expected to rise further due to extended life expectancy, accumulation of lifestyle-related risk factors such as obesity and diabetes mellitus, and better survival after myocardial infarction and heart failure (HF), better awareness of AF and improved and intensified technology for undiagnosed AF contribute to an increase in AF burden.

Additionally, the incidence of AF is higher in men than in women. The moment of onset of AF and the associated comorbidities differ between men and women. Women who are older have a higher prevalence of hypertension, valvular heart disease, and HF with a preserved ejection fraction (HFpEF) and less often have coronary artery disease. Therefore, it has increased the demand for novel oral anticoagulants (NOACs) drugs as these drugs are licensed to prevent stroke and also systemic embolism in patients on treatment for atrial fibrillation and prevent venous thromboembolism, and the recent surveys reveal that use of NOACs has steeply increased due to its safety profile and convenience to use. Also, the studies have shown that NOACs have lesser bleeding complications and associated mortality in contrast to traditional anticoagulants. Thus, Europe has the highest market share in the forecast period.

Market Competitive Landscape

Major key players in the novel oral anticoagulants (NOACs) market are Boehringer Ingelheim Pharmaceuticals, Inc., Janssen Pharmaceuticals, Inc., Bayer AG, Pfizer Inc., Bristol-Myers Squibb Company, Daiichi Sankyo, Inc. and Dr. Reddy’s Laboratories Ltd.   

Bayer AG:

Bayer AG is a German multinational pharmaceutical and life sciences company and one of the largest pharmaceutical companies in the world. Headquartered in Leverkusen, Bayer's business areas include pharmaceuticals, consumer healthcare products, agricultural chemicals, seeds and biotechnology products. Moreover, in 2020, the Bayer Group comprised 385 consolidated companies in 83 countries, and in 2020 alone, the company invested nearly €2 billion in research and development.

Product Portfolio:

Xarelto: Xarelto is indicated to prevent atherothrombotic events in adults with symptomatic peripheral artery disease (PAD) at high risk of ischaemic events.