Low Molecular Weight Heparin Market Foreseen Projected to Exceed US$ 5 Billion by 2026 | CAGR: 6.7%: Coherent Market Insights
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The global low molecular weight heparin market, by Drug (Enoxaparin, Dalteparin, Nadroparin, Bemiparin, Tinzaparin, and Others), By Packaging (Multi-vials and Prefilled Syringes), By Application (Deep Vein Thrombosis, Acute Coronary Syndrome (ACS), Pulmonary Embolism and Atrial Fibrillation), By End-Use (Hospitals (Private and Public), Clinics, and Home) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued US$ 3,050.4 million in 2018, and is expected to exhibit a CAGR of 6.7% over the projected period (2018-2026).
Growing inclination of research institutes towards the use of LMWH in a range of novel treatments has augmented the demand of LMWH. The American University of Beirut Medical Centre sponsored the study of a drug, bemiparin sodium (a form of LMWH), which is in phase 4 and helps to improve pregnancy outcomes in patients with recurrent implantation failure undergoing IVF/ ICSI treatment. Furthermore, the major market players have been collaborating with several hospitals to strengthen their product portfolio.
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Bayer joined forces with Assistance Publique – Hopitaux de Paris to examine the combination of rivaroxaban and low molecular weight heparin for neoplasm and venous thromboembolism. Both these pipeline drugs are expected to complete their final stages of study over the projected timeline.
As per the latest reports, increasing organic and inorganic growth strategies adopted by the leading manufacturers in the global market would potentially encourage the adoption of LMWH in the following years. For instance, in January 2012, Watson Pharmaceuticals and Amphastar Pharmaceuticals launched Amphastar’s enoxaparin sodium injection. Amphastar and Watson have a distribution agreement under which Amphastar supplies enoxaparin to Watson, which then markets, sells, and distributes the product to retail pharmacies in the U.S.
In July 2018, Pfizer Inc. announced plans to invest US$ 465 million to establish a technically advanced sterile injectable pharmaceutical production facility at Michigan, U.S. Furthermroe, in April 2018, Laboratorios Farmaceúticos Rovi SA signed a license expanding agreement with Hikma Pharmaceuticals PLC for ROVI’s enoxaparin biosimilar because of Hikma’s strong presence in the Middle East and North Africa (MENA) region.
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Key Trends of the Global Low Molecular Weight Heparin Market:
- Among drugs, the enoxaparin segment held a major market share in the global market in 2017. Enoxaparin (Lovenox) is an EU-approved low molecular weight heparin (LMWH) indicated for medical patients with severely restricted mobility during acute illness, prophylaxis of deep vein thrombosis (DVT) in abdominal surgery, hip replacement surgery, inpatient treatment of acute DVT with or without pulmonary embolism, knee replacement surgery, outpatient treatment of acute DVT without pulmonary embolism, prophylaxis of ischemic complications of unstable angina and non-Q-wave myocardial infarction (MI).
- The prefilled syringes packaging segment led the global market in 2017, as prefilled syringes are considered the most preferred and effective packaging solution. Moreover, prefilled syringes have gained major traction as delivery systems for injectable drugs, especially in the treatment of chronic conditions that require repeated administration of the medication.
- The Deep Vein Thrombosis (DVT) application segment emerged as a dominant segment in 2017. The home therapy of DVT with LMWH, compared with inpatient therapy with unfractionated heparin, produces comparably better clinical outcomes and patient satisfaction, with cost savings.
- The hospital’s end-user segment dominated the global market in 2017. Low-molecular Weight Heparin (LMWH) is increasingly being used in emergency department and during surgery procedures, owing to the expanding medical infrastructure and increasing surgical procedures.
- The well-known players trading in the global low molecular weight heparin market include Pfizer, Inc., LEO Pharma A/S, Sanofi S.A., Teva Pharmaceutical Industries Ltd., Amphastar Pharmaceuticals Inc., Abbott Laboratories, Aspen Pharmacare Holdings, Laboratorios Farmaceuticos ROVI SA, Changzhou Qianhong Biopharma, and Intrapharm Laboratories.
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