The venous thromboembolism (VTE) market is projected to grow from $1.95bn in 2016 to $2.85bn by 2026, at a compound annual growth rate (CAGR) of 3.87%, according to a report by GlobalData.

Titled ‘PharmaPoint: Venous Thromboembolism – Global Drug Forecast and Market Analysis to 2026’, the report covers the VTE market across the seven major markets of the US, France, Germany, Italy, Spain, the UK, and Japan.

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An increase in global prevalence of VTE and the launch of betrixaban, which is indicated for extended-duration prophylaxis, have been identified as the key drivers for the market growth. The prophylaxis segment holds a major share in the VTE space due to the higher number of prophylaxis patients.

“Sales in the acute medically ill space of the VTE market are expected to grow from $1.32bn in 2016 to $2.07bn in 2026, according to Jesus Cuaron, PhD, Managing Healthcare Analyst for GlobalData.”

Uptake of novel oral anticoagulants (NOACs) is another factor contributing to the growth. The report projects the NOAC class to drive sales in the VTE market, generating $1.04bn in global sales by 2022.

Genericisation of major NOAC players, however, is expected to result in a decline in sales within various NOAC-treated VTE segments such as total knee and hip replacement.

Sales in the acute medically ill space of the VTE market are expected to grow from $1.32bn in 2016 to $2.07bn in 2026, according to Jesus Cuaron, PhD, Managing Healthcare Analyst for GlobalData.

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The launch of Portola Pharmaceuticals’ betrixaban is expected to boost the segment, with sales of the drug projected to reach $577m by 2026. The label expansion of Xarelto is also expected to boost sales in the acute medically ill space, the report adds.