Heparin Market: Rising Incidence of Thromboembolic Disorders Drives Demand
Global Heparin Market: Snapshot
The global heparin market is anticipated to attract growth opportunities on the back of the rising count of surgical procedures and increasing treatment of venous thromboembolism (VTE) including pulmonary embolism (PE) and deep vein thrombosis (DVT). Anticoagulant heparin holds the ability to reduce blood clotting. It could be used in blood transfusion, blood samplings during prophylaxis treatment, and the treatment of blood clotting disorders.
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As per the analysis of the report, the global heparin market could expand at a CAGR of 6.2% for the forecast period 2017–2025 to reach a valuation of US$16.3 bn by the end of 2025. In 2017, the market attained a valuation of US$10.1 bn.
LMWH Wins by Share, ULMWH Impresses by Novelty
As studied by the analysts, the world heparin market could be segmented on the basis of product, source, and formulation. By product, the market is predicted to encompass three segments, viz. unfractionated heparin (UFH), low molecular weight heparin (LMWH) and ultra-low molecular weight heparin (ULMWH). Amongst these products, LMWH had accounted for a king’s share in the recent past and is a widely used heparin to this date.
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Generic and biosimilar drug manufacturers are expected to be empowered with growth opportunities birthing from the patent expiration of a majority of LMWHs. Since LMWH does not cross the placenta, it has been recommended as one of the most appropriate forms of heparin to be used during pregnancy by the Royal College of Obstetrics and Gynecology (RCOG) and National Institute for Health and Care Excellence (NICE). However, ULMWH is still used as a more novel therapeutic among the products in the heparin family.
As per a segmentation by source, the world heparin market is prognosticated to be classified into bovine and porcine. After its ban in the U.S. and Europe in the 90’s, bovine-sourced heparin had been proposed by the Center for Drug Evaluation and Research (CDER) to be reintroduced in the U.S. By formulation, the market could be divided into oral and parenteral.
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Long-term DVT/PE Complications Catapult North America
In terms of regional segmentation, the international heparin market is envisaged to witness the dominance of North America followed by Europe in the coming years. By the completion of the forecast timeframe, North America could be leading the market with a US$6.0 bn secured under its belt. An estimate one-third of the DVT/PE patients in the U.S. could have a recurrence within 10 years and nearly half of them could develop long-term complications. Increasing incidences of coagulation disorders and burgeoning geriatric population are prophesied to help the Europe market to achieve a handsome growth in the near future.
Not to forget, Asia Pacific could be a faster growing region of the international heparin market rising at a 7.6% CAGR due to its largely untapped nature. The probability of PE in India, according to the National Institute of Health Consensus, is close to a 20.0%, whereas the overall incidence of DVT after elective hip surgery is approximately a 45.0% to 70.0%. The Middle East and Africa and Latin America are foreseen to tread upon the heels of Asia Pacific.
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Some of the prominent companies operating in the worldwide heparin market could include 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.
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