PUBLISHER: SkyQuest | PRODUCT CODE: 1463455
PUBLISHER: SkyQuest | PRODUCT CODE: 1463455
Global Heparin Market size was valued at USD 7.48 billion in 2022 and is poised to grow from USD 7.68 billion in 2023 to USD 9.51 billion by 2031, at a CAGR of 2.7% during the forecast period (2024-2031).
August 2022 saw the FDA approve Momenta Pharmaceuticals, Inc.'s M-Enoxaparin medicine. Momenta and Sandoz, Novartis AG's generics subsidiary, are developing M-Enoxaparin, a more technologically advanced generic version of lovenox. It is also administered during major orthopedic surgeries like as knee and hip replacements. Recent advancements in heparin research, which aim to manufacture ultra-low molecular weight heparin for use in chemotherapy, have created fresh growth potential for the heparin business. Many illnesses and conditions, including deep vein thrombosis, pulmonary embolism, acute coronary syndrome, atrial fibrillation, cardiopulmonary bypass, and hemofiltration after heart surgery, are treated with heparin. This device can be utilized for major orthopedic procedures, including knee and hip replacements. The frequency of venous thrombosis is increasing due to underlying factors such as cardiovascular sickness, which is driving the global market's growth. The market is expanding due to the rising number of patients undergoing cardiac and orthopaedic surgeries, as well as the growing usage of heparin in these types of surgeries. However, a variety of unfavorable heparin side effects, such as thrombocytopenia brought on by heparin, limit the market's ability to grow. The fact that heparin is derived from animal sources, which raises significant concerns about availability and safety, is another constraining factor.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Heparin Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Heparin Market Segmental Analysis
The type, mode of administration, source, end use, and region of the global heparin market are the segments that make up this market. The market is divided into three types: unfractionated, extremely low weight, and low molecular weight. The market is divided into inpatient and outpatient segments based on end use. The market is divided into intravenous and subcutaneous segments based on the mode of administration. The market is divided into bovine, porcine, and other sources according to source. The market is divided into Latin America, Middle East and Africa, Asia Pacific, North America, and Europe.
Drivers of the Global Heparin Market
Venous thromboembolism, or VTE, is more frequent in the elderly but can affect anyone at any age. Heart failure is one of the many illnesses that older individuals are more likely to suffer from than younger people. Heart failure can result in thrombosis. Congestive heart failure is far more common in the elderly, with 85% of heart failure patients being over 65. Atrial fibrillation is three times as common in adults over 80 than in those under 65. These events increase the risk of pulmonary embolism, particularly in older adults. As a result, the requirement for heparin to treat illnesses grows along with the number of elderly individuals, driving up demand for heparin.
Restraints in the Global Heparin Market
The adverse effects of heparin are the primary barriers to market expansion. Bleeding is the most common side effect of heparin. Heparin may cause spontaneous bleeding from the mouth, gums, uterus, stomach, intestines, and open surgical wounds. Heparin may also result in heparin-induced thrombocytopenia (HIT), which increases the risk of bleeding by stimulating the production of antibodies by the immune system against the body's platelets. Therefore, during the forecast period, market expansion may be constrained by the adverse effects of heparin.
Market Trends of the Global Heparin Market
Effective reversal medications are becoming more and more necessary to counteract the anticoagulant effects of heparin and other anticoagulant therapies during surgery or emergency scenarios. In order to give the heparin market another growth path, research and development is now being done on novel anticoagulant reversal medicines.