The global heparin market is fragmented in nature with top three companies holding the maximum share. Top three companies, Sanofi S.A., Pfize, and Leo Pharma A/S collectively accounted for 36.9% of the global heparin market in 2014. Leading players are aiming to expand their product portfolio, distribution networks, and market presence by taking part in mergers and collaborations. New manufacturers of biosimilar/generic are expected to enter the mainstream. New entrants are predicted to increase their investments in the heparin market to stay in the competition. Transparency Market Research (TMR), in a new report on the global heparin market, states that the market will be benefited by the rising demand for heparin-free dialysis.
The global heparin market is expected to reach US$14,391.8 mn by 2023. By product, the low molecular weight heparin segment is predicted to reach US$12,348.1 mn by 2023. The demand for low molecular weight heparin segment is expected to maintain its dominance in the years to come owing to the rising use in the treatment of coagulation disorders and surgeries.
Rising Awareness about Coagulation Disorders to Propel North America Heparin Market
By region, North America dominated the global heparin market in 2014 and this region will continue to maintain its dominance in the next few years. The North America heparin market is predicted to reach US$6,206.0 mn by 2023. As per the report, every year, approximately 900,000 people in the U.S. are affected with DVT. Rising awareness about coagulation disorders, rising aging population, and the rising demand for biosimilar products are expected to propel North America heparin market. Europe is predicted to be the second largest market after North America. However, going forward, Asia Pacific heparin market is produced to register a promising growth
High Incidence of Coagulation Disorders to Benefit Market
As per the Centers for Disease Control and Prevention, the yearly incidence of VTE in people is predicted to be around 0.1%. “The rising number of people being affected by coagulation disorders is predicted to benefit the global heparin market,” states a TMR analyst. Commercialization of cost-effective and safe heparin products can be credited to be another factor expected to propel the global heparin market. Regulatory approvals and government support are likely to benefit the demand for heparin products.
Alternative Anticoagulants to Affect Demand for Heparin Products
Regional companies are introducing many alternatives to heparin products. The rising presence of warfarin, coumarins, and oral anticoagulant is a challenge for the manufacturers of heparin products. The introduction of new anticoagulants including dabigatran, rivaroxaban, and apixaban is restricting the growth of the global heparin market. The increasing use of liquid chromatography and the decreasing import of heparin products from China will affect the global market, says a TMR analyst.
Introduction of Biosimilars to Benefit Manufacturers of Heparin Products
The establishment of a new regulatory framework for biosimilars is likely to benefit the global demand for heparin products. Factors such as the removal of animal sources for manufacturing biosimilars will propel the demand for new products, which is likely to benefit the global heparin market in the near future.
Apart from this, the increasing research activities targeted towards marine-based heparin products will lead to the advent of new products. Key companies are merging with the startup organizations to introduce new heparin products, which is expected to contribute towards the growth of the global heparin market.
This information is based on the findings of a report published by Transparency Market Research titled “Heparin Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”
The global heparin market is segmented as follows:
Global Heparin Market, by Product
- Unfractionated Heparin
- Low Molecular Weight Heparin (LMWHs)
- Ultra-low Molecular Weight Heparin (ULMWHs)
Global Heparin Market, by Geography
- North America
- United States
- United Kingdom
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Other Countries
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