Heparin Market Report 2023 | Increasing the Advantages of Low Molecular Weight Heparin Over Unfractionated Heparin

According to Precision Business Insights (PBI), the latest report the global heparin market size was valued at USD 7,923.7 million in 2022 and is projected to grow at a 2.8% CAGR during the forecast period 2023 to 2029. The efficacy of these drugs as an anticoagulant is one of the key factors expected to drive global market growth. Furthermore, undeniable factors such as technological advancement and introducing of new products are expected to drive the global market's growth. The increased use of these drugs has accelerated progress toward developing LMWH. Furthermore, technological advancements have resulted in the emergence of newer forms, such as the ULMWH. As a result, these factors are expected to have a positive impact on the market during the forecast period.

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The LMWH Segment is Dominating the Global Heparin Market Market
The LMWH segment is expected to account for a larger revenue share, and the market is expected to grow at a double-digit growth rate over the forecast years. Due to the high rate of adoption of this product type in developed markets, the higher price associated with this product, and the higher safety profiles of these products in comparison to other types Fragmin (Dalteparin sodium), Lovenox (Enoxaparin sodium), and Innohep are three essential LMWH products (Tinzaparin sodium). The key players have also concentrated on developing and introducing new LMWH products into the global market. For example, Valeo Pharma Inc. announced in November 2019 that they had submitted a New Drug Submission for an LMWH biosimilar, which had been accepted for review by Health Canada.

The global heparin market is segmented by product, application, distribution channel, and geography:
By Product
• Unfractionated Heparin
• Low Molecular Weight Heparin (LMWH)
• Ultra-low Molecular Weight Heparin (ULMWH)

By Application
• Venous Thromboembolism
• Coronary Artery Disease
• Atrial Fibrillation
• Others

By Distribution Channel
• Hospital Pharmacies
• Drug Stores & Retail Pharmacies
• Online Pharmacies

North America Leads Global Heparin Market Market
The North American heparin market is anticipated to have the biggest revenue share in 2022, and the same pattern is anticipated throughout the forecast period. Due to the high prevalence of sophisticated products in the region, the high cost of healthcare, the high frequency of cardiovascular disorders such pulmonary embolism, and the presence of large market participants participating in the sales of these products. For instance, the Centers for Disease Control and Prevention (CDC) predicted in September 2020 that by 2028, there will be roughly 12.1 million cases of atrial fibrillation in the United States. Also, Asia Pacific held the highest CAGR during the forecast period.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
The global heparin market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region.

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Key player's profiles in the global heparin market report are Baxter International Inc., B. Braun Holding GmbH & Co. KG, Dr Reddy's Laboratories Ltd., Fresenius SE & Co KGaA, Hebei Changshan Biochemical Pharmaceutical Co., Ltd., Leo Pharma A/S, Pfizer Inc., Sanofi SA, Teva Pharmaceuticals, Viatris Inc.

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This release was published on openPR.