The global fondaparinux market size is estimated to register a significant CAGR during the forecast period, 2021-2028. The growth of the market is due to the increasing population base that is health-conscious along with the availability of alternatives for generics. It is high in demand as they are more efficient as well as have low chances of severe bleeding and mortality post administration as compare to low-molecular-weight heparin.
Fondaparinux, also known as Arixtra, is a synthetic anticoagulant that is similar to low-molecular-weight heparin used to prevent and treat deep vein thrombosis and pulmonary embolism in patients who have had orthopedic surgery. The U.S. Food and Drug Administration (FDA) approved Arixtra which is the generic version of fondaparinux in order to treat the above-mentioned disorders. Arixtra was established as a safe alternative for patients with thrombocytopenia by the Piedmont Hospital of Atlanta. The long-term use of fondaparinux was also established by the researchers for the treatment of cancer in November 2014. Anticoagulants are given to patients who fall under the category of geriatric population and suffered from heart attack and angina.
The COVID-19 pandemic had caused a positive impact on the fondaparinux market as the mortality rate in COVID-19 patients decreased due to the usage of heparin. Several initial studies had shown positive results as it impacts on the mortality rate reduction of COVID-19 patients who were hospitalized. However, later it was suggested to use only low-molecular-weight heparin for the treatment of patients with venous thromboembolism having mild COVID-19 infection. It also can be used to some extent due to lack of an antidote. Different studies have different opinions regarding the usage of fondaparinux for patients being infected with COVID-19, which is anticipated to have an impact on the market.
Market Trends, Drivers, Restraints, and Opportunities
- Wide prevalence of thrombocytosis along with the rising demand for effective therapeutics are expected to fuel the market growth.
- Wide prevalence of several diseases among the rapidly growing geriatric population is anticipated to propel the market growth during the forecast period.
- Rising cases of chronic disorders such as cardiovascular diseases and diabetes is estimated to drive the market expansion in the coming years.
- Absence or insufficient awareness about venous thromboembolism conditions is a key challenge that can restrain the market growth.
- Ongoing research & development activities in order to find broader applications of fondaparinux are projected to create lucrative opportunities for the market growth.
- Alchemia SA
- Mylan N.V.
- Dr. Reddy’s Laboratories, Inc.
Key players competing in the global fondaparinux market are Alchemia SA; Mylan N.V.; GSK; and Dr. Reddy’s Laboratories, Inc. Many of these players have adopted business strategies such as launch of new products, advancement of technologies, partnerships, mergers, and production capacity expansion in order to increase their expansion, their consumer base, and market position globally.
For example, Mylan N.V. acquired the U.S. IP rights and marketing from Aspen Global, Inc. in September 2014 for the Arixtra injection and its generic form. In another event, Alchemia Ltd. entered into a partnership with Dr. Reddy’s Laboratories Ltd. as a strategic alliance and together launched a drug in 2011 in the U.S.
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