New York, March 28, 2023 (GLOBE NEWSWIRE) -- The global heparin market recorded a valuation of USD 8.3 billion in 2022 and is expected to reach USD 13.0 billion by the end of 2032, expanding at a CAGR of 4.7% over the decade. Heparin, commonly known as unfractionated heparin (UFH), is a naturally occurring glycosaminoglycan. It acts as an anticoagulant means it is a blood thinner. Unstable angina treatment & heart attack treatment is advantageous mainly due to the benefits of heparin which is injected directly into a subcutaneous vein. Acute coronary syndrome, hemofiltration, pulmonary embolism, deep-vein thrombosis, atrial fibrillation, and cardiopulmonary bypass are very few conditions used for treatment. Major orthopedic surgeries such as knee and hip replacements also use heparin.
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Key Takeaway:
- By product type, the low molecular weight heparin segment is anticipated to remain dominant during the forecast period.
- By application type, the coronary artery disease segment dominated the market in 2022 and is anticipated to stay dominant in the forecast period.
- By distribution channel, the hospital pharmacies segment dominated the market in 2022.
- In 2022, North America dominated the market with the highest revenue share of 51.1%.
- Europe region acquired the market share with the highest revenue share of 19.1%.
- By region, the APAC region is expected to increase with the highest CAGR in the forecast period from 2023 to 2032.
The rising dominance of cardiovascular diseases and venous thrombosis is the main factor that stimulates the global heparin market growth. Furthermore, heparin's application in several surgeries, like heart surgeries & orthopedic, and the number of patients' surgeries will further increase the heparin market growth. Furthermore, synthetic and semi-synthetic heparin availability mimetic, which aids to treat coagulation, cancer, and inflammatory disorders, is expected to provide opportunities for heparin acceptance. Furthermore, rising government aid for healthcare infrastructure advancements and detailed R&D activities to augment heparin with advanced therapeutic potential and with fewer side effects aid to drive the heparin market growth. Moreover, several side-effects connected with heparin and anticoagulant's presence in the market may restrain the heparin market.
Factors affecting the growth of the global heparin industry?
Several factors can affect the growth of the global heparin market. Some of these factors include:
- The increasing presence of cardiovascular and other chronic diseases: The rising incidence of cardiovascular disorders, henceforth the rise in demand for heparin products, is a major driving force that will help boost global market growth.
- The favorable impact of the COVID-19 pandemic: The drug is considered a life-saving treatment for several chronic illnesses; therefore, the COVID-19 pandemic positively impacted the market growth.
- More awareness: Increased patients becoming more aware of the effectiveness of these medications are treating several heart ailments.
- Technological developments: Technological advancements and the introduction of innovative goods are also expected to stimulate global market expansion in the forecast period.
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Top Trends in the Heparin Market
Low Molecular Weight Heparin (LMWH) is expected to acquire a large market share during the forecast period. Low molecular weight heparin (LMWH), an anticoagulant, is injected subcutaneously or intravenously. Examples include dalteparin and enoxaparin; their function triggers antithrombin III, which later renders factors such as Xa and thrombin inactive.
Market Growth
Economic factors, such as rising per capita healthcare spending, increasing investment in innovation, and healthcare infrastructure development, are expected to boost market growth over the forecast period. Also, the increasing presence of cardiovascular and other chronic diseases, increasing awareness, and developments of technology for novel drugs will propel market growth.
Regional Analysis
North America was the dominant region and generated the highest revenue share, with a market share of 51.1% owing to a rise in cardiovascular diseases. Furthermore, components aid in this region's rising healthcare expenditure and rising patient knowledge understanding. Each year, one-fourth of Americans in the US die from cardiovascular disease, making it a major reason for death in the country.
The market is expected to grow at the highest rate in Asia-Pacific's heparin market during the anticipated period. The main drivers of the market expansion are the rising number of geriatric individuals, the big individuals suffering from chronic disorders, and the developing economy. Furthermore, APAC is the region that aids the crude & API heparin. This helps regional businesses such as Pharmax Lifesciences. Generic versions of several medications whose patents have ended are manufactured locally at a low and reasonable price.
Competitive Landscape
The heparin market is fragmented, with many local and regional players. Market players have severe competition from the market's top players, mainly those with brand recognition and large distribution networks. Companies have performed several expansion strategies like product launches and partnerships.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 8.3 Billion |
| Market Size (2032) | USD 13.0 Billion |
| CAGR (from 2023 to 2032) | 4.7% |
| North America Revenue Share | 51.1% |
| Europe Revenue Share | 19.1% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The increased number of cardiovascular disorders, which will increase the need for these products, is a major driving force that will boost the global market. In the next few years, it is expected that nearly all different types of cardiovascular disorders, such as strokes, venous thromboembolism, atrial fibrillation, and heart-related problems, will continue to be normal occurrences. This shows that a large number of patient individuals worldwide impacted the high need for such goods. Furthermore, the market will increase patient awareness about the effectiveness of medications in treating several heart ailments.
Market Restraints
The constrained quantity of raw materials given by the Chinese for the products based on porcine is one of the major shackles of the market expansion. African Swine Fever (ASF), a severe disease of swine, caused a lot of outbreaks in China. Hence, curbing the spread resulted in a country massacre of pigs to manage outbreaks. These affected elements may contribute to the rising scarcity of raw materials demand to manufacture goods. Another factor restraining the market's growth is the high prices associated with LMWH, which can curb it from being most adopted in emerging markets.
Market Opportunities
Another main element that is expected to stimulate the increase of the global market is the medications' effectiveness as anticoagulants. Elements such as technological advancements and the launching of new goods are also expected to fuel the global market expansion in the forecast period. The stable rise in these medications has fastened the efforts to form LMWH. Moreover, other forms, such as Ultra Low Molecular Weight Heparin, have been obtained due to the technical advancement of ULMWH. As a result, these elements are expected to favorably affect the market in the forecast period.
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Report Segmentation of the Heparin Market Globally
Product Insight
The largest market share was dominated by low molecular weight heparin and is expected to remain in the forecast period from 2023 to 2032. Because heparin's market growth is affected by several major variables, such as self-administration easiness at home through subcutaneous injection, which helps to reduce hospital stays, more & prolonged predictable functioning, and the lack of an everyday blood checking requirement. The worldwide heparin market is based on product types segmented into weight heparin, unfractionated heparin, ultra-low molecular, and low molecular weight heparin.
Application Insight
The largest market share was dominated by coronary artery disease and is anticipated to remain in the forecast period. The venous thromboembolism segment is expected to experience fast growth in the heparin market. Owing to its increasing knowledge of thrombosis. Haemostasias Inc. and the Thrombosishas started an online site for thrombosis to educate patients about it. The global market of heparin is based on application types segmented into coronary artery disease, atrial fibrillation, venous thromboembolism, and others.
Distribution Channel Insight
Hospital pharmacies dominated the largest market share and are anticipated to remain in the forecast period. Moreover, the developed services, availability of pharmaceuticals, and increasing dependence on medical practitioners for heparin recommendations are all aids to people's faith in hospitals. The global heparin market is based on distribution channel types segmented into online pharmacies, hospital pharmacies, and drug stores & retail pharmacies.
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Market Segmentation
Product
- Weight Heparin
- Unfractionated Heparin
- Ultra-Low Molecular
- Low Molecular Weight Heparin
Application
- Coronary Artery Disease
- Atrial Fibrillation
- Venous Thromboembolism
- Others
Distribution Channel
- Online Pharmacies
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players
The competitive landscape of the market has also been examined in this report. Some of the major players include,
- GlaxoSmithKline plc
- Aspen Pharmacare Holdings Limited
- Braun Medical Inc.
- Baxter International Inc.
- Cipla Ltd.
- Reddy’s Laboratories Ltd.
- Hoffmann-La Roche Ltd.
- Fresenius SE & Co. KGaA
- Leo Pharma A/S
- Novartis AG
- Pfizer Inc.
- OPOCRIN SPA.
- Reddy’s Laboratories Ltd.
- SARIA International GmbH
- Sanofi
- Teva Pharmaceutical Industries Ltd.
- United Biotech (P) Ltd.
- Viatris Inc.
- Bio-pharma Co., ltd.
- Other Key Players.
Recent Development of the Global Heparin Market
- Hepalink Group has announced that the APIs for heparin sodium & enoxaparin sodium had been approved in India on Mar 2022 to expand its distribution network.
- Fresenius Kabi announced the presence of 2 new heparin sodium presentations in cozy, ready-to-use Freeflex IV bags inside the United States on Apr 2021.
- Meitheal Pharmaceuticals announced that the FDA had approved plans for future facility growth and more manufacturing capacity for the manufacturing of Heparin Sodium Injection on Feb 2020.
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