The global heparin market size was valued at USD 6.9 billion in 2020 and is anticipated to expand at a CAGR of 1.5% during the forecast period, 2021-2028. The growth of the market is attributed to the rising number of accidents along with their related surgeries and the increase in number of cardiovascular disorders & venous thromboembolism.
Heparin is a blood thinner medication used as an anticoagulant specifically used in the diagnosis of unstable angina and heart attacks. Heparin is normally injected into the patient’s vein or through the skin. They can be used for the treatment of blood clotting disorders. They can also be used in the prevention of blood clots during surgery, during blood transfusions, during dialysis, when collecting blood samples and when a person is paralyzed for long periods of time. Other applications include kidney dialysis machines and test tubes for their storage. According to the World Health Organization or the WHO along with the Centers for Disease Control and Prevention or the CDC, more than 900,000 people living in the United States of America have been affected by pulmonary embolism and deep vein thrombosis in 2018 and this will increase exponentially after the COVID-19 pandemic. The preliminary examination to treat these diseases is done with the help of heparin.
The COVID-19 pandemic has reduced the growth of the global heparin market initially. Researchers and scientists were not able to recognize the co-relation between the coronavirus and heparin. However, upon further research, they were able to identify that heparin can used for vaccination purposes against the coronavirus. This steered to hospitals, clinics, and healthcare laboratories to focus more on the development of heparin for the prevention and treatment of diseases and this led to its market growth in the later stages of the COVID-19 pandemic.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in occurrences of cardiovascular diseases which can be treated by heparin diagnostics is the primary reason for the projection of boosting the global heparin market growth during the forecast period, 2021-2028.
- There has been a rapid growth in the investment & funding towards the research & development activities towards heparin from the biopharmaceutical companies, which propels the market expansion in the coming years.
- High prices for the development of heparin and high cost of services from the company’s perspective is anticipated to hinder the global heparin market growth. This becomes extremely difficult to function in developing countries such as India, South Africa and Brazil where there is limited healthcare infrastructure.
- Heparin is contraindicated with suspected instances such as the Vaccine-Induced Pro-thrombotic Immune Thrombocytopenia or VIPIT, which can increase the jeopardy of bleeding through the blood clots of the patient. This can hamper the heparin market growth.
- R&D activities along with studies have shown that unfractionated heparin being a varying chain sizing polymer, can be modified to countereffect certain diseases including the coronavirus. In October 2020, the WHO team had notified that the SARS-CoV-2 vaccination can be done on a certain chain size of heparin and can be mass-produced by the end of the year.
Scope of the Report
The report on the global heparin market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Heparin Market Size - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Low Molecular Weight Heparin, Ultra-Low Molecular Weight Heparin, and Unfractionated Heparin), Administrations (Intravenous and Subcutaneous), Applications (Venous Thromboembolism, Atrial Fibrillation, Renal Impairment, Coronary Artery Disease, and Others), End-Users (Outpatient and Inpatient)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Trends, and Revenue Forecast
Key Players Covered in the Report
GlaxoSmithKline plc; Pfizer Inc; Baxter; Leo Pharma A/S; Sanofi; Dr. Reddy’s Laboratories Ltd; Aspen Holdings; B. Braun Medical Inc; Fresenius SE & Co KGaA; and Teva Pharmaceuticals Industries Ltd
Global Heparin Market Segment Insights
Low molecular weight heparin segment is estimated to signify the largest market share
Based on types, the global heparin market is segmented into low molecular weight heparin, ultra-low molecular weight heparin, and unfractionated heparin. The low molecular weight heparin segment is expected to constitute the major share of the market in 2019 due to the more predictable and reliable anticoagulant effect with respect to the product. There has also been low incidence towards heparin induced thrombocytopenia which in turns increases the usage of low molecular weight heparin.
Meanwhile the ultra-low molecular weight heparin segment is anticipated to grow with a significant CAGR during the forecast period, 2021-2028. The major reason attributing to this market growth is the commercialization of these products along with improved pharmaceutical effects.
Subcutaneous segment is projected to register a large market share
Based on administrations, the global heparin market is bifurcated into intravenous and subcutaneous. The subcutaneous segment is expected to constitute the major share of the market in 2019 and is anticipated to grow with a significant CAGR during the forecast period, 2021-2028 due to the lower costs associated to the patient’s hospitalization. This is also advantageous from the patient’s perspective owing to the increase preference in home care, reduced duration of diagnosis, and the ease in administration.
Coronary artery disease segment is anticipated to register a huge market share
On the basis of applications, the global heparin market is divided into venous thromboembolism, atrial fibrillation, renal impairment, coronary artery disease, and others. The coronary artery disease segment is expected to constitute the major share of the market in 2019. The major reason attributing to this market growth is the rising incidences of multiple heart-related diseases and disorders. One in every three American dies due to cardiovascular diseases and the coronary artery disease falls in this category.
Meanwhile the venous thromboembolism segment is anticipated to grow with a significant CAGR during the forecast period, 2021-2028. There has been a significant increase in the awareness of thrombosis and the treatment using heparin. There has also been websites and blogs specifically dedicated to these disorders and the preventive measures to take as well.
Outpatient segment is expected to propel a large market share
Based on end-users, the global heparin market is bifurcated into outpatient and inpatient. The outpatient segment is expected to constitute the major share of the market in 2019 and is anticipated to grow with a significant CAGR of 2.3% during the forecast period, 2021-2028 due to the lower cost of outpatients compared to that of inpatients. The efficacy for outpatients is also high and with research and development activities, this can only go higher from here.
North America is anticipated to dominate the market
On the basis of regions, the global heparin market is categorized as Asia Pacific, North America, Latin America, Europe and Middle East & Africa. The market in North America is expected to constitute the largest share in 2019. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology. The demand of heparin is increasing rapidly in this region due to the presence of the major market players in the market, an advantage no other region has. The cost of expenditure is significantly lower in North America than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, 2021-2028, as they have prioritized the cost-efficiency perspective of heparin combined with their growing population.
Segments Covered in the Report
The global heparin market size has been segmented in terms of
- Low Molecular Weight Heparin
- Ultra-Low Molecular Weight Heparin
- Unfractionated Heparin
- Venous Thromboembolism
- Atrial Fibrillation
- Renal Impairment
- Coronary Artery Disease
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- GlaxoSmithKline plc
- Pfizer Inc
- Leo Pharma A/S
- Dr. Reddy’s Laboratories Ltd
- Aspen Holdings
- B. Braun Medical Inc
- Fresenius SE & Co KGaA
- Teva Pharmaceuticals Industries Ltd
Major players competing in the global heparin market are GlaxoSmithKline plc; Pfizer Inc; Baxter; Leo Pharma A/S; Sanofi; Dr. Reddy’s Laboratories Ltd; Aspen Holdings; B. Braun Medical Inc; Fresenius SE & Co KGaA; and Teva Pharmaceuticals Industries Ltd. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. Fresenius SE & Co KGaA launched heparin sodium in 2018 in the form of ready-to-administer non DEHP bags, improving their portfolio in the global heparin market.