- Unfractionated Heparin
- Low Molecular Weight Heparin (LMWH)
- Ultra-low Molecular Weight Heparin (ULMWH)
Heparin Market size was expected to be worth USD 7,923.7 million in 2022 and is projected to grow at a 2.8% CAGR from 2023 to 2029. Heparin is a naturally occurring glycosaminoglycan, also known as unfractionated heparin (UFH). It is used in medicine as an anticoagulant (blood thinner). It is especially beneficial in the treatment of heart attacks and unstable angina. It is injected into a vein or beneath the skin. Acute coronary syndrome, deep vein thrombosis, pulmonary embolism, and atrial fibrillation are all treated with it, as are cardiopulmonary bypass and hemofiltration during cardiac surgery. It also administers major orthopedic procedures like hip and knee replacements. Based on the product, the global heparin market is segmented into Unfractionated Heparin, Low Molecular Weight Heparin (LMWH), and Ultra-low Molecular Weight Heparin (ULMWH). The Low Molecular Weight Heparin (LMWH) segment is anticipated to grow at a significant CAGR over the forecast years. Longer and more predictable operation than UFH, as well as easy self-administration at home via subcutaneous injection, which reduces or eliminates hospital stays and eliminates the need for daily blood monitoring, are all important factors driving the heparin market growth. Factors such as increasing advantages of low molecular weight heparin over unfractionated heparin and increasing introduction of biosimilar low molecular weight heparin anticoagulants globally are expected to drive the market growth.
Heparin Market Market Key Developments:
In April 2021 – Fresenius Kabi launched two new presentations of Heparin Sodium in convenient, ready-to-administer Freeflex IV bags in the U.S.
In May 2019- Pfizer, Inc. received FDA approval for its anticoagulant medicine Fragmin in May 2019. (dalteparin sodium). It reduces the recurrence of venous thromboembolism (VTE) in pediatric patients aged one month. This strategy enabled the company to strengthen its product portfolio and market position.
Fastest Growing Market
The rise in the prevalence of cardiovascular diseases in key age groups, such as the geriatric population, which is expected to fuel demand for this product, is one of the primary driving factors influencing the global market. Most diseases, including heart attacks, strokes, venous thromboembolism, and cardiovascular conditions like atrial fibrillation, are expected to remain common in the coming years. According to the Centers for Disease Control and Prevention (CDC), approximately 655,000 Americans will die from cardiovascular diseases in 2020. Furthermore, according to 2017 statistics, 18.2 million adults aged 20 and up have coronary artery disease. Such trends and statistics represent significant potential and existing patient populations worldwide; these are just a few factors contributing to the high demand for these products. Furthermore, increasing patient awareness of these drugs' efficacy in treating various heart diseases will drive the market. Due to which, the rising prevalence and incidence of cardiovascular diseases will drive market growth over the forecast period.
The LMWH segment is anticipated to be the top segment in this market during the forecast period.
The rising prevalence of cardiovascular diseases, strong demand from a large patient population base, and technological advancements in these products are key factors driving the market growth.
Baxter International Inc., B. Braun Holding GmbH & Co. KG, Dr. Reddy's Laboratories Ltd., Fresenius SE & Co KGaA, Hebei Changshan Biochemical Pharmaceutical Co., Ltd., Leo, Pharma A/S, Pfizer Inc., Sanofi SA, Teva Pharmaceuticals, Viatris Inc.
North America dominated the market.