The latest report by IMARC, titled “Heparin Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global heparin market size reached US$ 6.9 Billion by 2021. Heparin, also known as unfractionated heparin (UFH), is a naturally occurring glycosaminoglycan, which is used as an anticoagulant or a blood thinner. It is utilized post surgeries, dialysis and blood transfusion and is usually injected into the muscle or veins to break up clots and maintain smooth fluidity of the blood. It is also used widely to administer major orthopedic procedures, such as hip and knee replacements. In recent years, heparin has gained momentum due to the extensive adoption of this product for treating heart conditions and unstable angina.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.
Global Heparin Market Trends:
One of the primary factors driving the market is the increasing prevalence of numerous medical ailments, including deep vein thrombosis (DVT) and pulmonary embolism (PE). Additionally, heparin has proven its efficacy for venous thromboembolism and cardiovascular disorders (CVDs). Other than this, the easy availability of synthetic and semi-synthetic heparin mimetics that help cure coagulation, cancer, and inflammatory diseases, is positively influencing the market growth. Besides this, biopharmaceutical companies are introducing innovative medicines to improve the therapeutic potential of the drug and minimize its side-effects thus accelerating the product adoption rate. Moreover, the numerous technological upgradations in the field of carbohydrate synthesis, including coupling reactions, block preparation and the launch of convergent strategies, are catalyzing the market growth. Furthermore, extensive investment by the government of various nations for the improvement of healthcare facilities and vigorous research and development (R&D) activities to launch heparin with ultra-low molecular weight are creating lucrative growth opportunities for key players. Looking forward, IMARC Group expects the market value to reach US$ 8.1 Billion by 2027, expanding at a CAGR of 2.57% during the forecast period (2022-2027).
- Based on the product type, the market has been divided into unfractionated, low molecular wight (LMWH), and ultra-low molecular weight (ULMWH) heparin.
- On the basis of the source, the market has been bifurcated into bovine and porcine.
- Based on the mode of administration, the market has been segregated into oral and parental.
- On the basis of the application, the market has been categorized into atrial fibrillation and heart attack, stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), and others.
- Based on the end user, the market has been segmented into hospitals, clinics, homecare settings, ambulatory surgical centers, and others.
- On the basis of the distribution channel, the market has been divided into hospital pharmacies, retail pharmacies, drug stores, online stores, and others.
- Region-wise, the market has been classified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed, with some of the key players being GlaxoSmithKline Plc, Shenzhen Hepalink Pharmaceutical Co., Ltd., Pfizer Inc., LEO Pharma A/S, Sanofi S.A., Dr. Reddy’s Laboratories Ltd., Teva Pharmaceutical Industries Ltd., Aspen Holdings, Baxter International Inc., Hebei Changshan Biochemical Pharmaceutical Co. Ltd., Sandoz International GmbH, Opocrin S.p.A., Sichuan Deebio Pharmaceutical Co., Ltd., and Dongying Tiandong Pharmaceutical Co., Ltd.
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