Global Heparin Market Size (2024 - 2029)

Heparin Market Analysis

The Global Heparin Market size is estimated at USD 9.37 billion in 2024, and is expected to reach USD 13.23 billion by 2029, growing at a CAGR of 7.12% during the forecast period (2024-2029).

The COVID-19 pandemic disrupted not only the research and development of treatments and medications for illnesses other than COVID-19 but also the global supply chain for pharmaceuticals, which in turn had an effect on the market for heparin as well. But numerous research has pointed to the advantages of heparin for COVID-19 patients. For instance, according to an article published by frontiers in August 2020, a large retrospective cohort study was conducted which showed lower mortality in COVID-19 patients treated with heparin. It was also found that patients hospitalized with COVID-19 who received anticoagulation treatment with heparin had a lower risk of mortality, even after adjusting for age and gender, a saturation of oxygen at 90%, temperature greater than 37°C, and use of concomitant medications. The heparin market had favorable growth during the early pandemic as a result of this factor. Currently, the market growth has slowed down as the COVID-19 pandemic subsided, and it is expected to have a stagnant growth during the forecast period of the study.

Heparin is a medication that prevents blood clots from forming in patients with specific medical conditions or who are undergoing medical procedures that increase the risk of clot formation, such as surgery. Thus, the rising prevalence of chronic diseases such as cardiovascular disease, cancer, and others, and the attendant demand for more cutting-edge and efficient therapeutics, are anticipated to boost heparin's share of the market and propel its development.

For instance, a research study published by PubMed in February 2021 stated that atrial fibrillation affects 37,574 million people worldwide (0.51 percent of the population) and that its prevalence has increased by 33 percent over the previous 20 years. The study further stated that the burden is greatest in countries with a high socio-demographic index, though the most recent growth has been in countries with a middling socio-demographic index. Additionally, according to the same source, the prevalence of atrial fibrillation could increase globally by more than 60% by 2050, which is anticipated to have a significant impact on the development of the market under study. As a result, the demand for heparin is anticipated to increase, which will propel growth in the heparin market over the study's forecast period. The aging population, especially those over the age of 65, is another factor that is anticipated to have a significant impact on the growth of the heparin market. Long hospital stays, surgeries, and trauma can all increase the likelihood of developing a blood clot, so with an aging population, the studied market is expected to experience significant growth. For instance, the United Nations' World Population Ageing Highlight 2020 report found that the global geriatric population is growing quickly and that, in 2020, there were about 727 million people worldwide who were 65 or older, accounting for about 9.3 percent of the world's population overall. The same report also predicted that by the year 2050, there would be about 1.5 billion people in this age group, representing about a third of the world's population. Therefore, the aging population will have a big impact on the researched market's growth through time and fuel the heparin market's expansion.

In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For example, in January 2022, Ginkgo Bioworks and Optimvia teamed up to improve the manufacturing efficiency of non-animal-derived heparin that are commonly used as an anticoagulant to help prevent blood clots. Hence, the product launches by key market players are expected to boost the market growth during the forecast period of the study.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the side effects of heparin and the emergence of new and advanced oral coagulants may restrain the growth of the heparin market during the forecast period of the study.

Heparin Industry Segmentation

As per the scope of the report, heparin is used as an anticoagulation agent that allows the body's natural clot lysis mechanisms to work normally to break down clots that have formed. The heparin market is segmented by product (unfractionated heparin, low molecular weight heparin (LMWH), and ultra-low molecular weight heparin (ULMWH), source (bovine and porcine), application (deep vein thrombosis (DVT), atrial fibrillation and heart attack, coronary artery disease, and other applications), and by geography (North America, Europe, Asia-Pacific, Middle East, and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the value (in USD million) for all the above segments.