Heparin Market worth over $6.6bn by 2026
Published Date: October 14, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Heparin Market size is set to exceed USD 6.6 billion by 2026, according to a new research report by Global Market Insights, Inc.
The heparin market growth is owing to rising incidence of coagulation disorders coupled with substantial growth in the number of individual suffering from chronic diseases. For instance, according to the Center for Disease Control and Prevention (CDC) report, approximately 900,000 individuals are affected by deep vein thrombosis and pulmonary embolism each year in U.S. Such high pervasiveness of thromboembolism will increase the demand for heparin treatment. Moreover, regulatory bodies play a vital role in managing and ensuring safety parameters and efficacy of heparin that will further spur the market revenue.
Geriatric population is prone to various chronic disease such as deep vein thrombosis and pulmonary embolism that will positively influence the market expansion. Furthermore, focus of market players on highly precise and upgraded heparin products will augment the industry growth.
High dependency on porcine for heparin may hamper the market demand. The outbreak of swine fever in 2017 has affected the pigs population significantly, almost leading to deaths of about one third of the swine population. FDA also reported the shortage of heparin vails for injection due to the swine fever outbreak.
Various application of unfractionated heparin for blood clotting disorder treatment
The unfractionated heparin segment accounted for more than 14.8% of the market share in 2019. Unfractionated heparin is primarily used in dialysis to prevent blood clots as well as treatment of blood disorders. Additionally, its immediate onset of action, simple laboratory monitoring is possible that will further fuel the segment growth.
Browse key industry insights spread across 150 pages with 238 market data tables & 18 figures & charts from the report, “Heparin Market Size By Product (Low Molecular Weight Heparin, Unfractionated Heparin), By Source (Porcine, Bovine), By Application (Venous Thromboembolism, Atrial Fibrillation/Flutter, Coronary Artery Disease), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
Advantages associated with porcine will boost the heparin market size
The porcine segment valuation was around USD 4.1 billion in 2019. The porcine heparin is widely used to treat patients suffering from atrial fibrillation and prevent blood clots in lungs or legs. The porcine may also be used in treatment of certain blood clotting disorders that will further drive the segment expansion.
Increasing prevalence of atrial fibrillation will positively impact the market revenue
The atrial fibrillation application segment revenue was over USD 0.7 billion in 2019 led by rising prevalence of atrial fibrillation, as the risk of blood clot formation in heart may increase to five times. In addition, growing geriatric population that are prone to various chronic illness will significantly upsurge the market growth.
High adoption of heparin in various chronic diseases and availability of heparin at retail stores at discounted price
The retail pharmacy distribution channel in the heparin market is expected to witness 6.9% growth rate and is projected to reach USD 2.2 billion by 2026. 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 market value. Moreover, growing cases of chronic diseases such as deep vein thrombosis and pulmonary embolism will upsurge the demand for heparin.
Presence of key market players in the European region will spur the industry growth
Europe heparin market is predicted to expand at a CAGR of 4.7% and is estimated to cross USD 3.5 billion by 2026. The growth rate is attributed 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 365,914 deaths in 2017 in Europe. Thus, growing cases of CAD will encourage the adoption of heparin across the region., Presence of market leaders focusing to expand their business in anticoagulants division and well-established distribution network will fuel the market share.
Companies undertake inorganic growth strategies to strengthen their business portfolio and revenue
Some of the prominent participants operating in the heparin market include Amphastar Pharmaceutical, Sanofi, Hepalink group, Pfizer, Leo Pharma, and Laboratories Farmaceuticos Rovi SA. These companies focus on strategies such as acquisitions & mergers, innovative product development and partnerships to garner more revenue and sustain market competition.