Global Heparin Market – New Opportunities To Open the Door for the Industry by 2023 – Zion Market Research
Zion Market Research has published a new report titled “Heparin Market by Product Type (Unfractionated Heparin, Low Molecular Weight Heparin and Ultra-low Molecular Weight Heparin), by Source (Bovine and Porcine) and by Formulation into Oral and Parental: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2023”. According to the report, global heparin market was valued at approximately USD 9.98 billion in 2017 and is expected to generate revenue of around USD 14.32 billion by end of 2023, growing at a CAGR of around 6.20% between 2017 and 2023.
Heparin is a disaccharide anticoagulant or blood thinner that prevents the formation of blood clots and is produced in the body by mast cells and basophils. It is stored within mast cells and is secreted at the injury site. Factors such as the increasing prevalence of diseases that lead to the formation of clots and the slow rise in heparin supply are expected to prospect market growth to an extent. In the late 1990s, bovine heparin was removed from the US market due to concerns about adulteration. However, due to the shortage of porcine heparin, the US FDA had to reconsider the introduction of bovine heparin in the market.
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The extensive use of heparin as an anti-inflammatory and antitumor agent will drive the prospects for market growth until the end of the forecast period. The anti-inflammatory activity of heparin that prevents the metastatic spread of tumor cells is a new finding. Heparin exhibits this activity by neutralizing cationic mediators, inhibiting adhesion molecules, and inhibiting heparanase. Increasing cases of deep vein thrombosis (DVT) and pulmonary embolism (PE) have been prophesied to set the tone for a valuable growth in the market. In the U.K., one in every 1,000 individuals is affected by DVT each year, as per the National Health Service (NHS) data.
The heparin market is segmented on the basis of product type into unfractionated heparin, low molecular weight heparin, and ultra-low molecular weight heparin. Low molecular weight heparin segment accounted for a larger share in the recent past and is a widely used heparin.
Based on source type the market is segmented into bovine and porcine. After its ban in the U.S. and Europe in the 90’s, bovine-sourced heparin had been proposed by the Center for Drug Evaluation and Research (CDER) to be reintroduced in the U.S.
Based on the type of formulation the market is segmented into oral and parental. The oral segment dominated the market in terms of revenue in 2017.
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North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global heparin market. North America is the leading market for heparin. An estimated one-third of the DVT/PE patients in the U.S. to have a recurrence within 10 years and nearly half of them can develop long-term complications. Increasing incidences of coagulation disorders and burgeoning geriatric population are prophesied to help the Europe market to achieve a significant growth in the future. Followed by is the Asia Pacific growing in the international heparin market rising due to its largely untapped nature.
Some of the key players in the heparin market are Dr. Reddy’s Laboratories Ltd, Teva Pharmaceutical Industries Ltd., Fresenius SE & Co. KGaA, Sanofi, Pfizer, Inc., LEO Pharma A/S, Aspen, Baxter International, Inc., Syntex S.A., and Others. To gain market shares, the vendors are developing generic formulations for blood coagulation and other novel therapeutic areas.
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