|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The heparin market is expected to be valued at approximately USD 7,350 million in 2020, and it is expected to reach USD 10,825 million in 2026, registering a CAGR of nearly 4% during the forecast period, 2021-2026. 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 blood clot.
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. Heparin acts as an anticoagulant that prevents the formation of blood clots, so it is used before surgery to reduce the risk of blood clot in the veins, arteries, or lungs. As a result, the demand for heparin has increased. Moreover, the geriatric population is more prone to such chronic diseases, and hence, the increasing geriatric population is also increasing the demand for these surgeries. These factors have helped the growth of the market.
However, the side effects of heparin are refraining the patients from its use. This is restraining the market growth.
Scope of the Report
Heparin is used as an anticoagulation agent that allows the body's natural clot lysis mechanisms to work normally to break down clots that have formed. The heparin market is segmented by product (unfractionated heparin, low molecular weight heparin (LMWH), and ultra-low molecular weight heparin (ULMWH), source (bovine and porcine), application (atrial fibrillation and heart attack, stroke, deep vein thrombosis (DVT), and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, South America). The report offers the value (in USD million) for the above segments.
|Low Molecular Weight Heparin (LMWH)|
|Ultra-low Molecular Weight Heparin (ULMWH)|
|Atrial Fibrillation and Heart Attack|
|Deep Vein Thrombosis (DVT)|
Key Market Trends
Low Molecular Weight Heparin (LMWH) is Expected to Dominate the Market
During this pandemic situation, an unprecedented effect on the heparin market was also observed. However, the demand for heparin was at a constant rate, which led to increased production of heparin. For instance, Shenzhen Panorama Network increased the production of new products of low molecular weight heparin preparations to expand in the market.
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 used to prevent thrombosis.
The companies are constantly indulged in developing new products, which is expected to drive the market growth. For instance, in May 2020, Meitheal Pharmaceuticals Inc. received the United States Food and Drug Administration approval for Enoxaparin Sodium Injection (USP), the generic equivalent of Lovenox. Such developments are expected to support the market growth in this segment.
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North America is Expected to Dominate the Market
North America is expected to majorly contribute to the heparin market’s growth. During 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 by researchers from Rensselaer Polytechnic Institute, the US heparin can effectively neutralize the SARS-CoV-2 virus. Such studies are expected to positively impact the 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 Factsheet, the number of Americans above 65 years of age is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population is likely to rise from 16% to 23%, 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 has increased in the United States. According to Globocan, 2020, the prevalence of cancer was recorded to be around 8,432,938 and the estimated number of new cases were recorded to be 2,281,658 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 drive 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, the above-mentioned factors are expected to boost the market growth.
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The heparin market is inclusive of international companies and local players. Market leaders with more funds for research and better distribution systems have established their positions in the market. Moreover, Asia-Pacific is witnessing the emergence of some small players due to the rise of awareness. This has also helped the market grow. Some of the major players in the market are B Braun Melsungen AG, Pfizer Inc., Opocrin SpA, Aspen Pharmacare Holdings Limited, Baxter International, Leo Pharma AS, and Dr. Reddy's Laboratories, among others.
In December 2020, Valeo Pharma Inc. received approval from Health Canada for its product 'Redesca and Redesca HP', which is a low molecular weight heparin.
In May 2020, the University of Manitoba initiated a clinical trial to evaluate if heparin, the blood-thinning drug, can be used in the treatment of COVID-19 patients. The clinical trial was conducted at 35 sites, including Canada, the United States, Mexico, and Brazil.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Rise in Geriatric Population
4.3 Market Restraints
4.3.1 Side Effects of Heparin
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Unfractionated Heparin
5.1.2 Low Molecular Weight Heparin (LMWH)
5.1.3 Ultra-low Molecular Weight Heparin (ULMWH)
5.2 By Source
5.3 By Application
5.3.1 Atrial Fibrillation and Heart Attack
5.3.3 Deep Vein Thrombosis (DVT)
5.3.4 Other Applications
5.4.1 North America
184.108.40.206 United States (By Product, Source, and Application)
220.127.116.11 Canada (By Product, Source, and Application)
18.104.22.168 Mexico (By Product, Source, and Application)
22.214.171.124 Germany (By Product, Source, and Application)
126.96.36.199 United Kingdom (By Product, Source, and Application)
188.8.131.52 France (By Product, Source, and Application)
184.108.40.206 Italy (By Product, Source, and Application)
220.127.116.11 Spain (By Product, Source, and Application)
18.104.22.168 Rest of Europe (By Product, Source, and Application)
22.214.171.124 China (By Product, Source, and Application)
126.96.36.199 Japan (By Product, Source, and Application)
188.8.131.52 India (By Product, Source, and Application)
184.108.40.206 Australia (By Product, Source, and Application)
220.127.116.11 South Korea (By Product, Source, and Application)
18.104.22.168 Rest of Asia-Pacific (By Product, Source, and Application)
5.4.4 Middle-East and Africa
22.214.171.124 GCC (By Product, Source, and Application)
126.96.36.199 South Africa (By Product, Source, and Application)
188.8.131.52 Rest of Middle-East and Africa (By Product, Source, and Application)
5.4.5 South America
184.108.40.206 Brazil (By Product, Source, and Application)
220.127.116.11 Argentina (By Product, Source, and Application)
18.104.22.168 Rest of South America (By Product, Source, and Application)
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Aspen Pharmacare Holdings Limited
6.1.2 B Braun Melsungen AG
6.1.3 Baxter International Inc.
6.1.4 Dr. Reddy's Laboratories
6.1.5 Hebei Changshan Biochemical Pharmaceutical
6.1.6 Leo Pharma AS
6.1.7 Opocrin SpA
6.1.8 Pfizer Inc.
6.1.9 FRESENIUS KABI
6.1.10 GLAND PHARMA
6.1.11 HIKMA PHARMACEUTICALS
6.1.12 Hospira Inc.
6.1.13 MYLAN LABORATORIES
6.1.14 Novartis AG
6.1.15 Smiths Medical
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Heparin Market market is studied from 2018 - 2026.
What is the growth rate of Global Heparin Market?
The Global Heparin Market is growing at a CAGR of 4% over the next 5 years.
What is Global Heparin Market size in 2018?
The Global Heparin Market is valued at 7350 Million USD in 2018.
What is Global Heparin Market size in 2026?
The Global Heparin Market is valued at 10825 Million USD in 2026.
Which region has highest growth rate in Global Heparin Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Heparin Market?
North America holds highest share in 2020.
Who are the key players in Global Heparin Market?
Opocrin SpA, Baxter International, Aspen Pharmacare Holdings Limited, B Braun Melsungen AG, Pfizer Inc. are the major companies operating in Global Heparin Market.