Every year, consistently more than 900,000 individuals in the U.S. are influenced by deep vein thrombosis (DVT), as indicated by the Center of Disease Control and Prevention (CDC). More than 33% of these patients experience the recurrence of the disease within the span of ten years. Such rising DVT predominance will thus fuel interest for heparin.
As per the report studies, the market for global heparin valued US$8.2 bn in 2014. It holds a strong CAGR of 6.3% from 2015 to 2023. The market is anticipated to soar US$14.3 bn by the end of 2023. Low molecular weight heparin (LMWH) is the most commonly used type of heparin in the market as it offers sure results for the patients. Thus, the LMWH segment is anticipated to rise to US$12.3 bn by the end of 2023. Geographically, North American region will dominate the global market with an estimated CAGR of 6.3% from 2014 to 2023. The region is witnessing a rise in population which is coming for the medical treatment due to its advanced and innovative medical solutions. This factor makes it one of the leading regional segments in the market, along with high number of surgical procedures carried there.
Moreover, growing cases of coagulation disorder act as a fuel to the demand of heparin in the market. The market is also anticipated to boost due to the presence of various large and small vendors investing in it. The manufacturing firms are concentrating on developing a generic solutions or an agent to prevent and treat blood clotting, so that they could gain an edge over their competitors. As naturally extracted heparin products are prone to have side-effects, scientists are working on creating synthetic heparin products. The synthetic products are likely to be cost-effective as well. Several firms are expected to make huge investments to reap benefits of this emerging trend in the near future. However, there are certain alternative anticoagulants in the market, such as warfarin, coumarins, and other oral coagulants. These could hamper the growth of heparin products in the global market. The presence of these alternative blood clotting agents obstructs the sales of biological heparin. Moreover, due to strict quality control measures in China, might contribute in the decline of demand, as the cost of the product is likely to increase. The increasing expense active pharmaceutical fixings is likewise expected to expand heparin costs, along these lines contrarily affecting their demand.
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The global heparin market is likely to experience an immensely competitive scenario, with a lot of opportunities for the upcoming vendors in the global market, says Transparency Market research (TMR) in a research report. Firms which develop efficient coagulating drugs that successfully treat and prevent blood clotting are the ones that are likely to emerge as key-players in the market. These drugs are manufactured keeping all the aftereffects in mind, which make them completely safe for usage. Dr. Reddy’s Laboratories Ltd., Sanofi S.A, LEO Pharma A/S, Mylan N.V., Pfizer, Inc., Teva Pharmaceutical Industries Ltd, Syntex S.A., and Fresenius Kabi AG. Sanofi emerged as a leading player in 2014 due to its strong foothold in the market. Pfizer, Inc., Leo Pharma A/S, and Sanofi S.A. being the key players in the mentioned year held 39.6% shares of the overall market.