Heparin Market Revenue Growth Driven by Growing Prevalence of Chronic and Acute Diseases Worldwide: Reports and Data
Growing prevalence of chronic and acute diseases across the globe, increasing volumes of surgical procedures, and increasing use of anticoagulating agents are among the key factors expected to drive market revenue growth over the next few years
New York, December 8, 2021 – Reports and Data has published its latest report titled “Heparin Market, By Product Type (Unfractionated Heparin, Low Molecular Weight Heparin, Ultra-low Molecular Weight Heparin), By Route of Administration (Subcutaneous, Intravenous), By Application (Coronary Artery Disease, Venous Thromboembolism, Atrial Fibrillation, Renal Impairment, Others), By End-use (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and By Region, Forecast to 2028”
According to the latest report by Reports and Data, the global heparin market size was USD 6,768.4 Million in 2020 and is expected to reach USD 7,594.4 Million in 2028 and register a revenue CAGR of 1.4% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities:
Major factors providing impetus to the global heparin market revenue growth are rising prevalence of chronic and acute diseases – including chronic kidney diseases – around the world, increasing incidences of road accidents and physical injuries, rising volumes of surgical procedures, and increasing use of anticoagulating agents. Heparin is a blood thinner (also known as anticoagulant) that prevents formation of blood clots. It finds significant use in bypass surgeries, open-heart surgeries, percutaneous transluminal coronary angioplasty, and kidney dialysis. Generally, low doses of heparin are used during surgical procedures to prevent formation of blood clots in the arteria and ventricles of patients. During coronary artery bypass surgeries, heparin is used to prevent the formation of intracoronary thrombus and eliminate risks of cardiac arrest and potential death.
Heparin therapy is generally used for patients that are at high risks of hemorrhage and thrombotic events. During early stages of chronic kidney disease, the patient is likely to experience prothrombotic events; whereas, during advanced stages, their platelets become dysfunctional due to exposure to uremic toxin, and this leads to increased chances of bleeding. Therefore, chronic kidney disease patients require anticoagulants such as heparin in large doses to prevent thromboembolic conditions. Currently, low-molecular weight heparin is widely in use, as there have been fewer occurrences of thrombocytopenia and bleeding in kidney disease patients. Rising focus of pharmaceutical companies on developing effective heparin-based drugs and associated products for prevention and treatment of venous thromboembolism during cardiovascular surgeries is a key factor driving the global heparin market revenue growth. However, various side-effects associated with heparin are expected to restrain the market revenue growth to some extent. Common side-effects of the drug include abdominal pain, blood in urine, backaches, bleeding gums, constipation, and dizziness, among others.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Low Molecular Weight Heparin Segment Accounted for Largest Revenue Growth in 2020:
Based on product type, the global heparin market is segmented into unfractionated heparin, low molecular weight heparin, and ultra-low molecular weight heparin. The low molecular weight heparin segment accounted for the largest revenue share in the global market in 2020 due to certain favorable factors. Low molecular weight heparin offers several advantages over unfractionated heparin, such as better bioavailability, lower risk of heparin-induced thrombocytopenia, longer half-life, predictable anticoagulant response, simplified dosing, and reduced risk of osteoporosis.
Venous Thromboembolism Segment to Register Rapid Revenue CAGR:
Based on application, the global heparin market is segmented into coronary artery disease, venous thromboembolism, atrial fibrillation, and renal impairment. The venous thromboembolism segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Growing demand for low molecular weight heparin in subcutaneous injection form to treat venous thromboembolism, increasing incidences of recurrent thromboembolism or other bleeding complications, and rising prevalence of severe kidney diseases are key factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America heparin market accounted for the largest revenue share in the global market in 2020. Rising burden of chronic and acute diseases – including cardiovascular disorders and severe kidney diseases – increasing need for anticoagulating agents in surgical procedures, and increasing regulatory approvals for heparin-based drugs are major factors prompting the North America heparin market revenue growth. Rise in geriatric population, growing patient pool, rising healthcare expenditures, and presence of leading industry players in the region are other factors supporting market revenue growth in the region.
Major Companies in the Global Heparin Market Include:
- Pfizer Inc.
- Dr. Reddy’s Laboratories Ltd.
- Teva Pharmaceutical Industries Ltd.
- Sanofi SA
- B. Braun Melsungen AG
- GlaxoSmithKline PLC
- LEO Pharma A/S
- Aspen Holdings
- Fresenius SE & Co. KGaA
- Viatris Inc.
- Baxter International Inc.
- Hebei Changshan Biochemical Pharmaceutical Co., Ltd.
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For the purpose of this report, Reports and Data has segmented the global heparin market based on product type, route of administration, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018-2028)
- Unfractionated Heparin
- Low Molecular Weight Heparin
- Ultra-low Molecular Weight Heparin
Route of Administration Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
- Coronary Artery Disease
- Venous Thromboembolism
- Atrial Fibrillation
- Renal Impairment
End-use Outlook (Revenue, USD Million; 2018-2028)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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