Rivaroxaban is a Non-Vitamin K Antagonist Oral Anticoagulants (NOAC) that is marketed as Xarelto. Anticoagulant medicines are potent therapeutic agents 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. Xarelto is approved for indications such as stroke prevention in non-valvular atrial fibrillation, pulmonary embolism, deep vein thrombosis, prevention of recurrent venous thromboembolism (VTE), prevention of VTE after elective hip and knee replacement surgery, and secondary prevention after acute coronary syndrome.

In September 2008, the drug received CE approval for venous thromboembolism in adults undergoing knee and hip replacement surgeries and in 2011, it was approved by the U.S. Food and Drug Administration (FDA) for the same indication. Xarelto is approved in over 130 countries by respective regulatory bodies.

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As an anti-coagulant drug is intended to be used for the prevention and treatment of embolism and non-hemorrhagic stroke, increasing incidences of such medical conditions are expected to boost the rivaroxaban market growth over the forecast period. 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 venous thromboembolism each year in the U.S. Furthermore, the number of affected individuals are expected to increase by around 5% to 8% in the U.S., owing to several genetic risk factors such as condition known as inherited thrombophilia.

Moreover, endeavor to use the drug for additional indication is expected to support the market growth. For instance, Swiss Paraplegic Centre 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.

Another major factor negatively affecting the rivaroxaban market growth is patent expiration of the drug Xarelto. Patent expiration leads to the manufacturing of generic drugs, which can be leveraged by the generic manufactures. The availability of generic drugs is expected to lower the treatment cost making it affordable to a wider class of individuals.

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Major players operating in the global rivaroxaban market include Janssen Pharmaceuticals Inc. and Bayer AG,. Market players strategize to strengthen their foot hold in the market in spite of high cost by implementing cost-effective treatment schemes. For instance, Janssen Pharmaceuticals offer Xarelto manufacturer coupon or patient assistance program to lower the cost of the drug.

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