Heparin Market Research By Growth, Competitive Methods And Forecast To 2027
Transparency Market Research (TMR) has published a new report titled, ‘Heparin Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global heparin market was valued at US$ 10.8 Bn in 2018 and is projected to expand at a CAGR of 6.8% from 2019 to 2027.
Overview
Heparin is an anti-coagulant generally derived from the bovine and porcine tissue. Besides, it is also extracted and characterized from whales, humans, mice, clams, shrimps, and fresh water mussel.
Heparin is used in the treatment of clots, and the global market is impacted by various factors such as the high incidence rate of thromboembolism, advent of biosimilars, quality issues, and further research activities for introducing novel and safe heparin products. Introduction of new anti-coagulants such as rivaroxaban, dabigatran, and apixaban is detrimental for the growth of the heparin market.
North America dominated the global heparin market in 2018 and the trend is anticipated to continue during the forecast period. Some of the key growth drivers of the global heparin market include an aging population, rising incidence of cancer and its associated clotting disorders, and an increase in the number of coagulation tests during pregnancy in the past few years. The CDC reported that the medical cost associated with venous thromboembolism (VTE) treatment in the U.S. is approximately US$ 10 billion each year.
Asia Pacific is likely to be a highly lucrative market for heparin and it is expected to expand at a high CAGR during the forecast period
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=803
Rise in incidence of coagulation and renal disorders and Increasing government initiatives for preventive health care programs to Drive Market
Coagulation disorders such as venous thromboembolism (VTE), which includes both deep vein thrombosis and pulmonary embolism, cause around 1.2 million deaths across the world each year. According to the CDC, an estimated 500,000 to 900,000 people are affected by VTE in the U.S. each year. Moreover, the number of deaths due to VTE in Europe is higher than deaths caused by AIDS, breast and prostate cancers, and highway accidents collectively.
A study published by Deutsches Arzteblatt International in 2013 revealed that the annual incidence rate of diagnosed VTE is 150 to 200 cases per 100,000 in Germany. In an acute phase, the mortality rate of pulmonary embolism (PE) in Germany is approximately 7% to 11% i.e., about 40,000 deaths because of PE in the country each year. The statistics above clearly indicate demand for safe, reliable, and affordable anticoagulants.
According to the CDC, one out of every three adult citizens in the U.S. suffers from hypertension, which is considered to be the second-largest risk factor for stroke, which is caused by a blood clot. Medication and lifestyle changes are effective and affordable; however, the overall rate of blood pressure control remains suboptimal. ‘Million Hearts’ is an initiative led by the U.S. Department of Health & Human Services and co-led by CDC and the Centers for Medicare and Medicaid Services. The committee aligns and coordinates its activities in order to achieve hypertension control rates above 70% through electronic health records, innovations in health information technology, and patient communication.
Low Molecular Weight Heparin Segment to Dominate Market
Based on product, the global heparin market has been divided into unfractionated heparin, low molecular weight heparin (LMWH), and ultra-low molecular weight heparin (ULMWH).
Majority of the branded LMWH drugs in the global heparin market have gone off patent, thereby offering market access to generic manufacturers. A generic/biosimilar version of branded LMWH should be a replica with no structural alterations. There are two FDA-approved biosimilar products of Paris-based Sanofi S.A.’s Lovenox (enoxaparin), but none in Europe. Currently, the biosimilars market for LMWHs is driven by the U.S. as products under approval were considered generics and not biosimilars. This led to rapid approval of ANDA filings.
However, Ultra-low Molecular Weight Heparin (ULMWH) is expected to grow with the highest CAGR in the forecast period. ULMWHs are structurally similar to LMWHs with high anti-Xa and low anti-IIa activities, which leads to higher absorption and anticoagulant activity compared to LMWH. This is expected to propel the ULMWH segment throughout the forecast period.
Bovine to be Highly Lucrative Segment
In terms of source, the global heparin market has been classified into bovine and porcine.
Rise in demand for heparin to treat or prevent certain heart, blood vessel, and lung conditions is expected to fuel the porcine during the forecast period. However, Increase in demand in the emerging markets such as China, India, and Brazil is expected to drive the bovine during the forecast period
Buy Heparin Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=803<ype=S
Parenteral Segment to Dominate Market
Based on formulation, the global heparin market has been divided into oral and parenteral.
Parenteral route is dominated the market in 2018 as it protects the drug from enzymatic degradation and hydrolysis. Unfractionated heparin and low molecular weight heparin are the most commonly used pharmacological agents in hospitals. The oral administration of unfractionated heparin (UFH) is inconvenient for patients. UFH needs to be administered parenterally.
North America to Dominate Global Market
In terms of region, the global heparin market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global heparin market in 2018, followed by Europe.
High market share held by the North America region is attributable to technological developments in the production of heparin and the growing pharmaceutical industry in North America. The market in the region is projected to expand in the near future, owing to increase in the demand for heparin from patients suffering from deep vein thrombosis (DVT)
The Heparin market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This is primarily attributable to the increasing patient population and growing incidence of cancer and other chronic diseases in the region, which have led to increase in the demand for heparin products.
Competitive Landscape
The global Heparin market is fragmented in terms of number of players. Key players in the global market include Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Fresenius SE & Co. KGaA, Sanofi, Pfizer, Inc., LEO Pharma A/S, Aspen, Baxter International Inc., B. Braun Melsungen AG, Syntex S.A, among others.
More Trending Reports by Transparency Market Research –
Dry Eye Disease Market: https://www.biospace.com/article/dry-eye-disease-market-development-of-novel-therapeutics-by-market-players-to-boost-market-growth/
Visit Our Youtube Channel and Subscribe to Receive Future Updates for More Research Insights on Leading Industries – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ/videos
About Us
Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for several decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Media Contact
Company Name: Transparency Market Research
Contact Person: Mr. Rohit Bhisey
Email: Send Email
Phone: 5186181030
Address:90 State Street, Suite 700
City: Albany
State: New York
Country: United States
Website: https://www.transparencymarketresearch.com/
