Market Trends of Global Low Molecular Weight Heparin Industry
This section covers the major market trends shaping the Low Molecular Weight Heparin Market according to our research experts:
Deep Vein Thrombosis Segment is Expected to Witness Significant Growth Over the Forecast Period
Deep vein thrombosis (DVT), also known as venous thrombosis, occurs when a thrombus (blood clot) forms in veins deep within the body due to injury to the veins or sluggish blood flow. Blood clots can fully or partially stop blood flow through a vein. DVTs are commonly found in the lower leg, thigh, or pelvis but can also occur in the arm, brain, intestines, liver, or kidney.
The increasing prevalence of DVT is one of the major factors driving the segment's growth. For instance, according to the National Institutes of Health (NIH) article "Deep Vein Thrombosis," published in August 2021, the annual incidence of DVT is estimated to be 80 cases per 100,000, with a lower limb DVT frequency of 1 case per 1000 people. More than 200,000 people in the United States experience venous thrombosis each year, with 50,000 occurrences including pulmonary embolism. As LMWHs are more effective than no prophylaxis in preventing DVT and pulmonary thromboembolism in high-risk general surgical patients, the demand for LMWH in patients suffering from DVT is anticipated to increase over the coming years, in turn driving the segment growth. Hence, owing to the above factors, the adoption of these products will likely increase among the target population, driving the segment growth.
North America is Expected to Dominate the Low Molecular Weight Heparin Market
North America is expected to dominate the market owing to factors such as the growing disease burden, the rising geriatric population, and the rising number of product approvals. According to the Department of Economic and Social Affairs of the United Nations, the elderly population is expected to rise from 26.6 million in 2003 to 36.0 million by 2020 in the United States, a 35% increase. As the risk of venous thromboembolism is strongly associated with age, the demand for LMWH will likely bolster soon.
Likewise, as per the article titled "Data and Statistics on Venous Thromboembolism," published by the Centers for Disease Control and Prevention in 2020, the precise number of people affected by deep vein thrombosis (DVT) or pulmonary embolism (PE) is unknown. However, it is estimated that up to 900,000 people in the United States are affected yearly. Furthermore, deep venous thrombosis (DVT), which leads to pulmonary embolism (PE), is the third most common cardiovascular disease after myocardial infarction and stroke. Such an increase in the target population will ultimately boost the adoption of LMWH products, thereby positively impacting the market growth.
Key initiatives and a high concentration of market players or manufacturers' presence in the United States are some of the other factors driving the growth of the low molecular heparin market in the country. For instance, in July 2020, Novartis announced a new initiative to help patients access affordable medicines to treat the major symptoms of COVID-19, a critical need in the absence of a vaccine or curative treatment. Inflammation and respiratory problems linked to COVID-19 can cause severe medical complications and lead to death in some people, putting an immense strain on fragile healthcare systems. Therefore, owing to the factors mentioned earlier, the growth of the studied market is anticipated to boost in the North American region.
