Pune, India, May 25, 2023 (GLOBE NEWSWIRE) -- The global heparin market size was valued at USD 9.53 billion in 2022. The market is projected to grow from USD 9.89 billion in 2023 to USD 13.22 billion by 2030, displaying a CAGR of 4.2% during the 2023-2030 forecast period. Increasing cases of chronic disorders globally and rising government initiatives to expand these products' applications are likely to boost market growth. Fortune Business Insights™ stated this in a report titled, "Global Heparin Market, 2023-2030.
Industry Development
- With an aim to increase its distribution channel, Hepalink Group announced the approval of heparin sodium and enoxaparin sodium APIs in India.
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Key Takeaways
- Haematology reported that in 2021, 94.7% of patients hospitalised for COVID-19 treatment got Low Molecular Weight Heparin (LMWH), primarily enoxaparin, to prevent thrombosis and inflammation.
- Optimvia and Ginkgo Bioworks, a preeminent cell-programming platform, partnered in January 2022.
- Heart Research Institute (HRI) in 2022, a heart attack is the most common reason for hospitalisation in Australia, claiming an average of 19 lives daily.
- Stroke risk from atrial fibrillation is 4-5 times higher and is thought to be responsible for 15%–20% of ischemic strokes.
Discover the Leading Players Featured in the Report:
Opocrin S.p.A. (Italy), Baxter (U.S.), Pfizer Inc. (U.S.), Bioiberica S.A.U. (Spain), Fresenius SE & Co. KGaA (Germany), Hebei Changshan Biochemical Pharmaceutical Co., Ltd. (China), B. Braun SE (Germany), Dr Reddy’s Laboratories Ltd. (India), LEO Pharma A/S (Denmark), Aspen Holdings (South Africa), Sanofi (France)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.2% |
| 2030 Value Projection | USD 13.22 Billion |
| Base Year | 2022 |
| Heparin Market Size in 2023 | USD 9.89 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 200 |
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Drivers and Restraints
Increasing investments in the Development of Advanced Drugs and Medications to Bolster Market Growth
Increasing investments in the development of advanced drugs and medications are likely to fuel market progress. Increasing cases of cardiovascular diseases enable manufacturers to develop effective solutions that mitigate diseases. The rising cases of heart disorders in developing countries such as India are likely to boost product demand drastically. This factor is likely to fuel the demand for the product. Further, technological advancements in the medical sector have led to the development of advanced and effective drugs. Increasing spending capacity, evolving lifestyle, and rising demand for effective medication is likely to propel the product's sales. These factors are likely to drive the heparin market growth.
However, raw material shortages and higher medicines prices may hinder the market's progress.
Regional Insights
Increased Medical Expenditure toward Healthcare to Nurture Growth in North America
North America is expected to dominate the heparin market share because of the rising investments in the healthcare sector. North America reached USD 4.87 billion in 2022 and is expected to lead the market's growth. Evolving consumer preferences and increased medical expenditure boost the product's adoption. In addition, major players are expected to boost industry progress.
In Europe, the rapid adoption of technologically advanced products is expected to boost heparin's demand. Further, the prevalence of several cardiovascular diseases is expected to boost market progress.
In Asia Pacific, an increasing number of diabetes patients is expected to boost demand for the products. Increasing healthcare expenditure, rising spending capacity, and evolving preferences are expected to bolster heparin's demand. These factors are likely to fuel industry progress.
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Segmentation
High Adoption Rate of Unfractionated Heparin to Lead Segment
By product type, the market is segmented into unfractionated heparin and low molecular weight heparin. The unfractionated heparin segment is expected to lead due to the high adoption rate of this product in developed markets.
Growing Rate of Diagnosis of Cardiovascular Diseases to Propel Porcine Segment
As per the source, it is classified into bovine and porcine. The porcine heparin segment is expected to gain traction due to the growing rate of diagnosis of cardiovascular diseases in developed and emerging countries
Growing significant Proportion of the Populace to Dominate Heart Attacks Segment
Based on application, it is divided into stroke, heart attacks, atrial fibrillation, deep vein thrombosis & pulmonary embolism, and others. The heart attack segment is expected to maintain its dominance due to a significant proportion of the populace suffering from this disease.
Rising Technological Advancements Will lead to Subcutaneous Injection Segment
As per the route of administration, it is categorized into subcutaneous injection and intravenous infusion. The subcutaneous injection segment is likely to maintain its leadership due to the rising of technological advancements to check the patient’s health properly.
Rising Dependency on Healthcare Professionals Will Dominate the Hospitals & ASCs Segment
By end-user, the market is segregated into clinics, hospitals & ASCs, and others. The hospitals & ASCs segment is poised to dominate due to greater dependency on healthcare professionals for prescribing these products.
Report Coverage
The report offers a methodical review of the major segments and the newest trends in the market. It expansively explains the driving as well as the restraining factors and the impact of COVID-19 on the market. Furthermore, it reviews the regional progressions and the tactics undertaken by the vital players present in the market.
Competitive Landscape
Invest Heavily In Research and Development Companies to Improve Brand Image
The prominent companies operating in the market launch novel products to boost their brand image. For example, Fresenius Kabi presented two presentations of its Heparin Sodium in the U.S. in April 2021. The company incorporated the product in ready-to-administer Freeflex IV bags to increase its brand image and boost sales. Further, companies invest heavily in research and development to improve their product quality and improve brand image. In addition, the incorporation of technologically advanced production processes helps companies improve quality, boost operational efficiency, increase revenues and satisfy goals.
FAQ’s
How big is the Heparin Market?
The Heparin Market size was USD 9.89 Billion in 2023.
How fast is the Heparin Market growing?
The Heparin Market will exhibit a CAGR of 4.2% during the forecast period, 2023-2030
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