Heparin Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMPH9 | Last Updated On: Jun 13 2022 | Available Formats

> Global Heparin Market Expected to reach a high CAGR of 5.7% during the forecast period 2022-2029: DataM Intelligence

Global Heparin Market is segmented By Product Type (Low Molecular Weight Heparin (LMWH), Ultra-low Molecular Weight Heparin (ULMWH)), By Source Type (Bovine, Porcine), By Formulation Type (Oral, Parenteral), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

Global "Heparin Market" is expected to reach at a CAGR of 6.6% during the forecast period (2022-2029).

Heparin prevents blood clot formation within the blood vessels and is used to treat heart conditions and unstable angina. It is also used in post-surgery, dialysis, and transfusion of blood. Heparin is usually injected into the muscle or veins directly to break up clots and maintain smooth blood fluidity. The heparin market can be divided based on its types as low molecular weight heparin, ultra-low molecular weight heparin, and unfractionated heparin. This heparin market research report analyzes the market’s competitive landscape and offers information on several market vendors.

 

Market Dynamics

The primary factor for the growth of the heparin market is the growing burden of chronic diseases.

According to the World Health Organization, chronic diseases have always been a massive global challenge, and they account for approximately 60% of all deaths worldwide. The global burden of chronic diseases was expected to reach 57% by 2020. Furthermore, according to the Organization for Economic Co-operation and Development (OECD), Health at a Glance, 2019 report, almost one-third of people aged 15 years and over reported living with two or more chronic conditions, which include cancer, heart attack and stroke, chronic respiratory problems, and diabetes, on average across 27 OECD countries globally.

Growing potential applications of Heparin can drive market growth tremendously

Heparin acts as an anticoagulant that prevents the formation of blood clots, so it is used before surgery to reduce the risk of a blood clot in the veins, arteries, or lungs. As a result, the demand for heparin has increased. The rising prevalence of various medical ailments such as deep vein thrombosis (DVT) and pulmonary embolism (PE) is one of the key factors driving the global market. Also, heparin has been proven to be an extremely effective drug for venous thromboembolism and cardiovascular disorders (CVDs), which is contributing significantly to its market growth.

Furthermore, biopharmaceutical companies are developing innovative medicines to enhance the therapeutic potential of heparin and reduce its side effects. Availability of synthetic and semi-synthetic heparin mimetics that assist in treating various cancers, coagulation, and inflammatory diseases is significantly increasing the adoption of the product.

The market is further driven by the various advancements in the field of carbohydrate synthesis, which include building block preparation, coupling reactions, and the development of convergent strategies. Moreover, increasing government funding toward improving healthcare facilities and extensive research and development (R&D) activities to develop heparin with ultra-low molecular weight for utilization in chemotherapy are also creating a positive outlook for the market.

COVID-19 Impact Analysis

Recently, the outbreak of COVID-19 has been critical, as there has been a significant increase in the number of patients suffering from COVID-19, which is associated with respiratory diseases. Therefore, the demand for heparin has increased, as it helps subdue respiratory inflation and thin the blood of those with the risk of the blood clot. Amidst the COVID-19 situation, heparin was heavily studied for the treatment of COVID-19 which positively affected the market growth. According to a press release of July 2020, researchers from Rensselaer Polytechnic Institute, the United States heparin can effectively neutralize the SARS-CoV-2 virus. Such studies are expected to positively impact market growth.

Segment Analysis

The heparin market has been segmented by product type, source, formulation, and region. Based on product type, the market is categorized into three classes, namely low molecular weight heparin, and ultra-low molecular weight heparin, and unfractionated heparin (UFH). Based on the type of formulation, the market is segmented into oral and parenteral. Based on the source, the market is divided into bovine and porcine.

Low Molecular Weight Heparin (LMWH) is expected to dominate the market in the forecast period of 2021-28

Low molecular weight heparins (LMWHs) are a new class of anticoagulants derived from unfractionated heparin (UFH). LMWHs are used in the prevention of blood clots, treatment of venous thromboembolism, and treatment of myocardial infarction. They are also commonly being used to prevent thrombosis. Shenzhen Panorama Network’s new products of low molecular weight heparin preparations were increased to expand the market.

The companies are constantly indulging in developing new products that are expected to drive market growth. For instance, in May 2020, Meitheal Pharmaceuticals Inc. received the United States Food & Drug Administration approval for Enoxaparin Sodium Injection (USP), the generic equivalent of Lovenox. Such developments are expected to support market growth in this segment.

 

Geographical Analysis

North America region holds the largest market share global Heparin market

North America is expected to majorly contribute to the Heparin market growth. Amidst the COVID-19 situation, heparin was heavily studied for the treatment of COVID-19 which positively affected the market growth. According to a press release of July 2020, researchers from Rensselaer Polytechnic Institute, the United States heparin can effectively neutralize the SARS-CoV-2 virus. Such studies are expected to positively impact market growth.

The major factors expected to drive the market growth in the United States are the growing burden of diseases coupled with the rising geriatric population and the rising number of approvals. According to the Population Reference Bureau Fact sheet, the number of Americans above 65 years of age is projected to nearly double from XX million in 2018 to YY million by 2060, and the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent, which shows a positive impact on the heparin market, as the geriatric population is more prone to chronic diseases.

In addition, the burden of cancer is increased in the United States. According to Globocan, 2020, the prevalence of cancer was recorded to be around XX and the estimated number of new cases was recorded to be XX in the United States. Heparin is commonly used in the treatment of cancer-associated with thromboembolism.

Furthermore, the rising product approvals in the country are further expected to thrive the market growth. For instance, in November 2019, Fresenius Kabi announced the availability of the preservative-free heparin sodium injection, USP in 5,000 units per 0.5 mL, Simplist, in ready-to administer prefilled syringes in the United States. Thus, owing to the above-mentioned factors is expected to thrive the market growth.

Competitive Landscape

The heparin market is moderately competitive with the presence of local as well as global companies.  The report presents a detailed analysis of the following key players in the global heparin market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions. The key players are Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Fresenius SE & Co. KGaA, Sanofi, Pfizer, Inc., LEO Pharma A/S, Aspen, Baxter International Inc., B. Braun Melsungen AG, and Syntex S.A.

Dr. Reddy’s Laboratories Ltd.

Overview: Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company located in Hyderabad, Telangana, India. Dr. Reddy manufactures and markets a wide range of pharmaceuticals in India and overseas. The company has over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology products.

Product Portfolio: Dr. Reddy’s has a sizable market share in the Indian and US heparin market. Its primary heparin products are Ketorol Tablets, Ketorol Injection, Ibuclin tab N10, and Ibuclin Junior.

Key Developments: Dr. Reddy's Laboratories launched Heparin Ertapenem for Injection in the U.S. Market. This brand had U.S. sales of approximately $XX million for the most recent twelve months ending in March 2021. This project was launched in collaboration with another pharmaceutical company, Gland Pharma.

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