USD 7.48 billion
Report ID:
SQMIG35H2166 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
59 |
Figures:
76
Global Heparin Market size was valued at USD 7.48 billion in 2022 and is poised to grow from USD 7.68 billion in 2023 to USD 9.51 billion by 2031, at a CAGR of 2.7% during the forecast period (2024-2031).
The FDA authorised the M-Enoxaparin medication from Momenta Pharmaceuticals, Inc. in August 2022. Together with Sandoz, the generics division of Novartis AG, Momenta is creating M-Enoxaparin, a generic version of lovenox with better technology. Additionally, it is given for major orthopaedic procedures like hip and knee replacement. The heparin market has recently seen new growth potential due to recent developments in heparin research that aim to produce ultra-low molecular weight heparin for use in chemotherapy. Heparin is used to treat a number of diseases and disorders, such as deep vein thrombosis, pulmonary embolism, acute coronary syndrome, atrial fibrillation, cardiopulmonary bypass, and hemofiltration during heart surgery. This gadget can be used to provide hip and knee replacements as well as other significant orthopaedic surgeries. Due to underlying causes including cardiovascular illness, the incidence of venous thrombosis is rising, which propels the growth of the global market. The market is also growing as a result of the increased use of heparin in a variety of surgical operations, including orthopaedic and heart surgeries, as well as the increase in people having these procedures. But the market's growth is constrained by a number of unfavourable heparin side effects, including thrombocytopenia caused by heparin. Further limiting factors include the fact that heparin is made from animal sources, which poses serious safety and availability issues.
Global Market Size
USD 7.48 billion
Largest Segment
Subcutaneous
Fastest Growth
Subcutaneous
Growth Rate
2.7% CAGR
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Global Heparin Market is segmented on the basis of type, route of administration, source, end use and region. By type, the market is segmented into low molecular weight, ultra low weight, unfractionated. By end use, the market is segmented into outpatient and inpatient. By route of administration, the market is segmented into intravenous and subcutaneous. By source, the market is segmented into porcine, bovine, others sources. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Heparin Market Analysis by Type
The most popular form of heparin will be low molecular weight (LMWH), which will grow at a CAGR of 7% during the projection period. Blood thinning is accomplished with the use of the anticoagulant LMWH (low molecular weight heparin). By carefully controlling the enzymatic depolymerization process, LMWH is made up of smaller heparin fragments that are created from unfractionated heparin (UFH). A number of benefits of low molecular weight heparin over unfractionated heparin, including longer-lasting and more predictable activity than UFH and simple self-administration at home via subcutaneous injection, which minimizes or eliminates hospital stays, are anticipated to propel the growth of this market over the forecast period. Additionally, the market for low molecular weight heparin molecules is anticipated to expand as government regulatory authorities for healthcare become increasingly focused on creating and offering these goods.
Heparin with an ultra-low molecular weight will command the second-largest market share. Heparin in the form of ultra-low molecular weight heparin (ULMWH) is a medication that thins the blood and prevents blood clots from forming. Vein thromboembolism (VTE) is becoming more common in sick patients, and LMWH is being used in a variety of ways to diagnose VTE, pregnancy problems, and atrial fibrillation.
Global Heparin Market Analysis by Source
With a market share of 90.02% in 2022, the porcine industry dominated the industry. Due to its extensive use in the manufacturing of heparin, particularly low molecular weight heparins like enoxaparin, the market is anticipated to maintain its leadership over the forecast period. Heparin has not yet become widely used, however, because Jews and Muslims forbid using anything made from pigs due to their religious beliefs.
The lack of pig heparin due to the scarcity of intestinal mucosa and unfavorable social perceptions of swine heparin are primary factors boosting the growth of this category, which is anticipated to increase by 28.7% over the forecast period. The effectiveness of bovine heparin is projected to be less than that of porcine, though to slow the segment's growth.
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In 2022, North America dominated the market and contributed 38.97% of total revenue. The increase in cardiovascular diseases and injuries is to blame for this. In addition, rising levels of healthcare spending and rising patient awareness in this region are the other variables that contribute to the high share. According to the CDC, heart disease will be one of the leading causes of death in the United States in 2022, killing 659,000 people a year, or 1 in every 4 fatalities.
The market is anticipated to grow at the fastest rate in Asia Pacific, 3.9%, during the anticipated period. Some of the main drivers of the expansion are the growing elderly population, the large chronic disease population, and expanding economy. The region that delivers the most API and crude heparin is Asia Pacific, as well. Local businesses, like Pharma Life Sciences, benefit from this. Generic versions of pharmaceuticals whose patents have expired are being produced locally at a reasonable price.
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Global Heparin Market Drivers
Increased Incidence of Cardiovascular Disorders and Venous Thromboembolism
Global Heparin Market Restraints
Heparin Adverse Reactions Will Slow Market Growth
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Details about each competitor are included in the heparin market competitive landscape. Included data includes an overview of the company, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launches and application dominance. Only the companies' focus on the heparin industry is mentioned in the data points above.
Top Player’s Company Profiles in Global Heparin Market
Global Heparin Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global heparin market has experienced steady growth in recent years. The market size is influenced by factors such as the aging population, lifestyle changes leading to higher incidences of cardiovascular diseases, and the need for effective anticoagulant therapies. The global heparin market is driven by the increasing prevalence of cardiovascular diseases and the need for effective anticoagulant therapies. With ongoing advancements in research and development, the market is expected to continue growing, particularly in emerging economies. The availability of alternative anticoagulant therapies and the emergence of biosimilars pose challenges to the growth of the heparin market. However, strict regulations and the presence of alternative therapies create challenges for market players.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 7.48 billion |
Market size value in 2031 | USD 9.51 billion |
Growth Rate | 2.7% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Heparin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Heparin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Heparin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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