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Heparin Market size to exceed $5.7bn by 2028

  • Published Date: February 28, 2022

Heparin Market size is set to exceed USD 5.7 billion by 2028, according to a new research report by Global Market Insights Inc.

The heparin industry is witnessing robust growth owing to increasing incidence of coagulation disorders coupled with substantial growth in the number of individuals suffering from chronic diseases. For instance, according to the Center for Disease Control and Prevention (CDC) report, every year approximately 900,000 individuals are affected by deep vein thrombosis and pulmonary embolism in U.S. Such high pervasiveness of thromboembolism will increase the demand for heparin treatment and is expected to propel the market growth across the globe.

Rising geriatric population across the globe will boost the market progress

Geriatric population is prone to various chronic diseases such as deep vein thrombosis and pulmonary embolism that will positively influence the heparin market statistics. Geriatric population is constantly increasing across the globe. As per the U.S. Census Bureau, the total number of residents above 65 years of age increased from 40.3 million to more than 54 million between 2010 and 2019. This number is estimated to reach 77.0 million by 2034 and 94.7 million by 2060. People above 65 years of age are increasingly being diagnosed with chronic disorders such as coronary artery disease, venous thromboembolism, atrial fibrillation, and flutter among others. As geriatric population base is estimated to increase, an increasing number of people are expected to be diagnosed with chronic cardiac diseases. This will further aggravate the burden of cardiovascular disorders, thus increasing the demand and need for anticoagulant drugs such as low molecular weight and unfractionated heparin.

High dependency on porcine may restrain the heparin industry size

High dependency on porcine-sourced heparin may hamper the market growth. In several countries, the bovine-sourced heparin was withdrawn due to the spread of bovine spongiform encephalopathy disease in cattle, hence porcine-sourced heparin is the virtually the primary source of heparin in most part of the world. Furthermore, the outbreak of swine fever in 2017 has affected the pig’s population significantly, leading to death of about one third of the swine population. FDA also reported the shortage of heparin vails for injection due to the swine fever outbreak, thus affecting the heparin market share. However, FDA has encouraged to re-introduce bovine-sourced heparin to lower the dependency on porcine that may have positive impact on the market in the future.

Benefits associated with unfractionated heparin will foster the segmental demand

By product, the heparin market is segmented into low molecular weight heparin and unfractionated heparin. Unfractionated heparin segment accounted for more than USD 596.4 million in 2021 and is expected to witness lucrative CAGR during the analysis timeframe. Unfractionated heparin is primarily used in the dialysis in order to prevent blood clots as well as for the treatment of blood disorders, thereby augmenting the market outlook.

Browse key industry insights spread across 140 pages with 237 market data tables & 18 figures & charts from the report,Heparin Market Analysis By Product (Low Molecular Weight Heparin, Unfractionated Heparin), Source (Porcine, Bovine), Application (Venous Thromboembolism, Atrial Fibrillation/Flutter, Coronary Artery Disease), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Industry Analysis Report, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2022 – 2028in detail along with the table of contents:

Proposal of reintroduction of bovine-sourced heparin by U.S. FDA will significantly drive the adoption rate

By source, the heparin market is fragmented into porcine and bovine. Bovine segment is poised to show tremendous CAGR of 3.9% during the forthcoming years. Bovine mucosa heparin drug product is currently available and manufactured in South America. However, with the outbreak of swine fever in 2017, there was an imminent threat to the supply of heparin as porcine is the largest source of heparin. This led to the proposal of reintroduction of bovine-sourced heparin to lower the dependency on porcine. Such regulatory initiatives will prove to be conducive to the segmental growth in the future.

Rising prevalence of cardiovascular diseases is expected to boost the segmental expansion

By application, the heparin market is divided into venous thromboembolism, atrial fibrillation/flutter, coronary artery disease and others. The coronary artery disease segment held 24.4% revenue share in 2021 and is expected show significant CAGR owing to the increasing heart related problems across the globe. For instance, in 2019, according to the World Health Organization (WHO) report, an estimated 17.9 million people died from cardiovascular diseases (CVDs), representing 32% of all global deaths. Similarly, arterial thrombosis is caused when an artery is damaged by atherosclerosis. This may further lead to myocardial infraction and coronary artery disease, thereby fostering the demand of heparin.

High adoption along with availability of heparin at retail stores will boost the segmental demand

By distribution channel, the heparin market is fragmented into hospital pharmacy, retail pharmacy and online pharmacy. Retail pharmacy segment accounted for considerable revenue share in 2021 and is anticipated to witness over 3.1% CAGR over the analysis timeframe. High adoption rate is due to utilization of heparin in treatment of various diseases along with availability of heparin at retail stores. Increasing demand of surgical procedures performed will propel the overall market trends.

Increasing aging population and presence of key market players in the European region will boost the market size

Europe heparin market is expected to reach over USD 3,137 million by 2028. High growth rate is due to rising elderly population that are prone to coronary artery diseases. For instance, according to the Center for Disease Control and Prevention (CDC), coronary artery disease (CAD) is one of the most common type of heart disease that accounted for more than 365,914 deaths in 2019 in Europe. Thus, growing cases of CAD will encourage the adoption of heparin across the region and will further stimulate the regional market statistics. Furthermore, presence of market players focusing to expand their business in anticoagulants division and well-established distribution network will foster the European market growth.

Collaboration strategies offer growth opportunities to market players

Growing emphasis of manufacturers on developing innovative and effective solutions for heparin will provide lucrative growth opportunities. Notable players operating in heparin industry include Amphastar Pharmaceutical, Sanofi, Hepalink group, Pfizer, Leo Pharma, and Rovi SA. These industry players adopt several strategies such as acquisitions, mergers, collaborations, geographical expansions, and new product launches to sustain competition and grab more market share. For instance, in November 2020, Fresenius Kabi partnered with Premier Inc., through its ProvideGx program to help stabilize supply of pre-filled, single-use IV bags of heparin sodium injection to healthcare providers. This strategy helped to maintain long-term supply of medication as well as strengthening its market position.

Authors: Sumant Ugalmugle, Rupali Swain