Global Heparin Market to Witness Sustainable Growth Opportunities with Commercialization of Safe and Effective Products, reports TMR
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.
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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.
This review is based on information published by TMR, in a report, titled “Heparin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
Demand for synthetic heparin products will rise in response to increasing incidence of coagulation disorders.
Heparin market in North America to expand at 6.3% CAGR, rising DVT and PE prevalence to fuel demand.
LMWH segment to reach US$12.3 bn by the end of 2023.
The report segments the global heparin market as:
Global Heparin Market, by Product
Low Molecular Weight Heparin (LMWHs)
Ultra-low Molecular Weight Heparin (ULMWHs)
Global Heparin Market, by Geography
Rest of the Europe
Rest of Asia Pacific
Rest of the World
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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