Heparin Market to Reach US$14.3 by 2023, Rising Incidence of Coagulation Disorders to act as Growth Driver

A moderate degree of rivalry exists among the key players in the global heparin market. However, these companies exhibit a clear dominance in individual segments, finds Transparency Market Research (TMR). In a highly fragmented global heparin market, the top three vendors, Sanofi S.A., Leo Pharma A/S, and Pfizer, Inc. held a share of over 39.6% in 2014. Due to its long-standing market presence, Sanofi emerged as the market leader in the same year.

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However, the market has been growing at a slower pace in developed regions. Hence, the leading enterprises are currently looking to capitalize on untapped opportunities in Asia Pacific and Rest of the World to strengthen their market position. Companies operating in the global heparin market are strategically diverse, which compromises with the brand loyalty of end users.

Manufacturers See Opportunities in Regulatory Approval of Synthetic Heparin

Globally. the demand for heparin is rising in response to the increasing incidence of coagulation disorders. According to the Center of Disease Control and Prevention (CDC), every year over 900,000 people in the U.S. are affected by deep vein thrombosis (DVT). Furthermore, over one-third of these patients witness recurrence of the disease within a decade. Such rising DVT prevalence will in turn fuel demand for heparin. It also encourages generic manufacturers to develop generic versions of heparin.

“Nearly half a million deaths are reported in Europe each year due to the rising prevalence of coagulation disorders such as venous thromboembolism (VTE). This bolsters demand for heparin from the region,” said a lead TMR analyst. Besides this, the commercialization of effective heparin products will also bolster their sales in the forthcoming years. Low molecular weight heparin derived naturally could have adverse effect on a patient’s health in case of overdose. Scientists have therefore developed synthetic heparin, which is both cheaper and safer than heparin obtained from animals. Regulatory approvals for synthetic versions of heparin will give the market an impetus the coming years.

Declining Imports from China to Create Bottleneck for Heparin Manufacturers

“The availability of alternative anticoagulants such as coumarins, warfarin, and oral coagulants could pose a threat to the global heparin market,” said the TMR analyst. The presence of these alternative anticoagulants will limit the sales of biological heparin products. Furthermore, enhanced quality control measures have decreased heparin imports from China, thereby elevating the cost incurred on heparin production. This is a key factor threatening the market’s growth to an extent. The rising cost of active pharmaceutical ingredients is also anticipated to increase heparin prices, thus negatively impacting their demand.

Nevertheless, the advent of biosimilars is expected to boost opportunities for heparin manufacturers. Leading manufacturers are currently investing in research into marine-based heparin products. This could lead to the introduction of novel products, thus fuelling opportunities for heparin manufacturers.

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According to TMR, The global heparin market stood at US$8.2 bn in 2014. Rising at a CAGR of 6.3% from 2015 to 2023, the market is expected to reach US$14.3 bn by the end of 2023. The demand for low molecular weight heparin (LMWH) was the highest in the market in 2014. By 2023, the LMWH segment is expected to reach US$12.3 bn. Regionally, North America emerged as the dominant segment in 2014. The rising incidence of DVT and pulmonary embolism (PE) will enable the North America market to exhibit a CAGR of 5.9% between 2014 and 2023.

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