Global Heparin Market is Expected to Reach US$ 14,853.1 Mn by 2025
The latest market report published by Brisk Insights “Heparin Market - Growth, Future Prospects, Competitive Analysis, 2017 - 2025,” the global heparin market was valued at US$ 7,714.0 Mn in 2016, and is expected to reach US$ 14,853.1 Mn by 2025 expanding at a CAGR of 7.21 % from 2017 to 2025.
The heparin crisis which took place in 2008 due to contaminated batches of unfragmented heparin imported from China resulted in fatal adverse events such as rapid fall in blood pressure and death. This event led to the entry of more safe and effective low and ultra-low molecular weight heparin. Still pharmacovigilence agencies have reported several heparin related serious adverse events which demands for safer heparin products for medicinal use. Researchers at University of North Carolina have developed a low molecular weight heparin through chemoenzymatic process by using C5-epimerase and recombinant O-sulfotransferase enzymes. The newly synthesized heparin will be reversed by protamine sulphate and will be cleared by liver and not by the kidneys, and thus will overcome the earlier heparin related adverse events.
Browse the full report Heparin Market - Growth, Future Prospects, Competitive Analysis, 2017 – 2025 report at https://www.briskinsights.com/report/heparin-market
Rising prevalence of venous thromboembolism and good bioavailability due to longer half-life low molecular weight heparin leads the products segment. Ultra-low molecular weight heparin will lead the market during the forecast period as it has projected better results in DVT/PE induced in patients undergoing cancer chemotherapy.
Subcutaneous is the most desirable route of administration owing to excellent drug pharmacokinetic profile for heparin and is relatively cheaper. Intravenous route is used for its fast onset of action due to high plasma protein binding and is used to perform open heart surgery, blood transfusion, and kidney dialysis.
North America is the clear leader in global heparin market as a result of rising prevalence of venous thromboembolism. In United States about 33 % of the people suffering with venous thromboembolism has a recurrence within ten years. Enhanced investment in the research and development of heparin products to address the problems associated with heparin overdose has a positive effect on market growth of North America. Increasing number of venous thromboembolism encountered in patients undergoing cancer chemotherapy and supportive regulatory environment for heparin products will be responsible for the remarkable growth of Asia Pacific in global heparin market.
Market players engaged in the manufacture and sale of heparin products are Aspen Holdings, Teva Pharmaceutical Industries Ltd., Baxter International, Inc., Syntex S.A., B. Braun Melsungen AG, Sanofi AG, Dr. Reddy’s Laboratories Ltd., Pfizer, Inc., LEO Pharma A/S., and Fresenius SE & Co. KGaA among others.
Key Market Movements
- Rising prevalence of venous thromboembolism and pulmonary embolism
- Increasing research activities conducted on ultra-low molecular weight heparin and synthetic heparin reporting promising therapeutic applications
- Patent expiry of low molecular weight heparin will boost the generic market in the near future.