Market Trends of Global Heparin Industry
This section covers the major market trends shaping the Heparin Market according to our research experts:
Low Molecular Weight Heparin (LMWH) is Expected to Hold a Significant Share in the Heparin Market During the Forecast Period
Anticoagulant low molecular weight heparin (LMWH) is given intravenously or subcutaneously. For example, dalteparin and enoxaparin, among others, work by activating antithrombin III, which subsequently inactivates thrombin and factor Xa to produce its activity. Low Molecular Weight Heparin (LMWH) is approved by the British National Formulary (BNF), and the National Institute for Health and Care Excellence (NICE) stated that LMWHs can be used to treat deep vein thrombosis (DVT) prophylaxis in medium and high-risk groups (surgical, orthopedic, and medical patients), venous thromboembolism in pregnancy, DVT and pulmonary embolism (PE) in non-pregnant women. Due to the widespread use of LMWH across the world, the LMWH market sector is anticipated to account for a sizable portion of the research market.
Furthermore, the rising geriatric population is also expected to boost segment growth as LMWH has various applications for elderly people. For instance, according to an article published by PubMed Central in December 2021, low molecular weight heparin (LMWH) is widely used and it is recommended by a European guideline for elderly patients with renal failure or during the perioperative period of the knee or hip replacement with no restrictions on specific types.
The firms are continually engaged in developing and marketing new medicines due to the growing burden of chronic diseases, which is further predicted to boost growth in the LMWH segment throughout the study's forecast period. For instance, in August 2022, FDA approved Momenta Pharmaceuticals, Inc.'s M-Enoxaparin product. Together with Sandoz, the generics arm of Novartis AG, Momenta is creating M-Enoxaparin, a technology-enhanced generic version of lovenox. Similarly, in May 2021, Dr. Reddy's Laboratories Ltd. launched Ertapenem for Injection, 1 g/vial, a therapeutic equivalent generic version of INVANZ (ertapenem for injection) for injection, 1 g/vial upon receiving approval from the FDA. Therefore, due to the abovementioned factors, it is anticipated that during the study's projected period, the low molecular weight heparin segment will hold a sizable market share.
North America is Expected to Occupy a Significant Share in the Heparin Market During the Forecast Period
The North American region is expected to hold a significant share in the heparin market owing to the high burden of chronic diseases in the region, the presence of advanced and robust healthcare infrastructure, the growing geriatric population, and other factors. For instance, according to the data published by the World Bank in 2022, the population aged 65 and above as a percentage of the total population increased in the United States from 16.6% in 2020 to 17% in 2021, and the population aged 65 and above increased in Canada as well from 18.1% in 2020 to 18.6% in 2021.
Moreover, due to the high and rising prevalence of chronic diseases like cancer and cardiovascular diseases, the presence of important market players, and the country's expanding geriatric population, the United States is anticipated to hold a significant share of the studied market in the North American region. For example, according to the Center for Disease Control and Prevention's (CDC) April 2022 update, the exact number of people in the country suffering from deep vein thrombosis (DVT) or pulmonary embolism (PE) is unknown, but it is estimated that up to 900,000 people in the United States are affected by DVT/PE each year. Additionally, according to the same source, 60,000 to 100,000 Americans per year pass away from DVT/PE. As a result of the high incidence and mortality of DVT/PE, it is anticipated that the use of heparin in treatment procedures will increase, which will spur growth in the heparin market in the United States.
The United States heparin market is also anticipated to grow as a result of the rising number of product approvals in the nation as well as recent advancements. For instance, in February 2022, CD Bioparticles, a top manufacturer and provider of diverse drug delivery goods and services, launched several Heparin products, including Heparin Biotin, Heparin Amine, and Heparin Thiol, and made them available to support drug delivery research. Therefore, as a result of the aforementioned factors, the North American region is estimated to hold a sizable proportion of the worldwide heparin market, with the United States being the largest country within it during the study's forecast period.
