Albany NY, United States: The heparin market is estimated to experience significant growth opportunities in the upcoming years.
Albany NY, United States: The heparin market is estimated to experience significant growth opportunities in the upcoming years. This market growth is on the back of various factors. Venous thromboembolism (VTM) has been highly common among the geriatric population, although it can take place at any age. A large number of heart diseases or failures have been comparatively higher that may lead to thrombosis. These health issues are more common in old age compared to young age.
Congestive heart failure has been more frequent among elderly people. The cases of atrial fibrillation also increase among the people aged 80 years or above, which is comparatively lower among the people of 65 years or less. These health issues are expected to increase the risk of pulmonary embolism among the geriatric population because these people have limited lung and heart function with heart failure. Owing to these different healthcare issues there comes an important role of various treatment techniques, and it further boosts demand opportunities in the heparin market.
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The commercialization of cost-effective and safe heparin products has been driving the growth impetus in the market. Further, mortality and high incidence related to coagulation disorders are also fueling lucrative opportunities in the market during the forecast period.
As per the research report by Transparency Market Research, the heparin market is estimated to reach a CAGR of 6.8% and gain a valuation of US$ 19.4 Bn. during the forecast period from 2019 to 2027.
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Increasing Incidents and Mortality Related to Coagulation Disorders Estimated to Fuel Growth Impetus in Heparin Market
Coagulation disorders, for example, venous thromboembolism (VTE) are responsible for around half a million deaths in Europe every year. Surprisingly, the count of deaths because of venous thromboembolism is more than deaths cumulatively occur because of highway incidents and breast and prostate cancers. The Centers for Disease Control and Prevention (CDC) has provided the data according to that around 0.1% is the rate of VTE incidence among the general population. In addition to this, the center has also provided data about the U.S. It states that around 900,000 people have been affected by venous thromboembolism every year in the United States.
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According to a report that has been published by Bayer Healthcare in the year 2012, the incidence of venous thromboembolism is likely to increase by 8% till the year 2018. These statistics mention the increasing demand for affordable, reliable, and safe anticoagulants. These factors are expected to drive growth opportunities in the heparin market in the forthcoming years. The prevailing limitation to reverse the activity of the low molecular weight heparin (LMWH) that has been naturally derived could result in excessive harm to the patient’s kidney that functions poorly. It can also lead to excessive bleeding in case of overdose. So the researchers from the University of North Carolina and the Rensselaer Polytechnic Institute have developed LMWH’s synthetic form that is safe. The activity of this heparin is reversible with the use of an antidote named protamine. This synthetic heparin is cheaper and safer according to the researchers. Owing to these factors, there has been a significant increase in the growth impetus in the heparin market.
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Availability of Alternative Anticoagulants Projected to Hamper Sales Opportunities of Biological Heparin
There are some alternative anticoagulants available in the market that are used to treat embolism. Coumarins, oral anticoagulants, and warfarin are some of the prominent alternatives that are likely to hamper the expansion opportunities in the heparin market in the forthcoming years.
Warfarin has been used conventionally as a key drug for anticoagulant therapy across the world. Further, the advent of novel anticoagulants, for example, apixaban, dabigatran, and rivaroxaban have been cannibalizing the growth prospects of the heparin market around the globe.
Some of the key players operating in the heparin market include Syntex S.A., B. Braun Melsungen AG, Baxter International Inc., Aspen, LEO Pharma A/S, Pfizer, Inc., Sanofi, Teva Pharmaceutical Industries Ltd., and Dr. Reddy’s Laboratories Ltd.
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