Heparin Market Size, Share & COVID-19 Impact Analysis, By Product Type (Unfractionated Heparin (UFH), and Low Molecular Weight Heparin (LMWH)), By Source (Bovine, and Porcine), By Application (Deep Vein Thrombosis & Pulmonary Embolism, Atrial Fibrillation, Heart Attacks, Stroke, and Others), By Route of Administration (Intravenous Infusion, and Subcutaneous Injection), By End User (Hospitals & ASCs, Clinics), and Regional Forecast, 2020-2027

The global heparin market size was USD 8.39 billion in 2019 and is projected to reach USD 11.43 billion by 2027, exhibiting a CAGR of 3.9% during the forecast period.

Heparin is considered to be one of the most critical life-saving drugs available in the world currently and is used for the treatment and management of several chronic diseases. It comes under the anticoagulant class of drugs, used as a therapy for several cardiovascular diseases such as deep vein thrombosis & pulmonary embolism. However, the market has suffered through undesirable waves such as contamination of the product that led to several deaths in 2007-2008, and issues pertaining to the supply chain disruption. Despite that, the indispensable nature of the drug has led to its persistent existence by several major companies such as Baxter and Pfizer, aiding global market growth during the forecast period.

Global Market to Experience Positive and Negative Impacts Amid COVID-19 Pandemic

The COVID-19 pandemic is expected to have some critical impact, both positive and negative, on certain pharmaceutical markets. To contain the spread of coronavirus, various governments across the globe have implemented strict lockdowns, which resulted in the healthcare industry suffering from some major loss. In most scenarios, especially for several non-essential medical procedures and consultations, the impact has been negative, as healthcare systems have postponed or canceled such medical procedures.

The COVID-19 pandemic has had a limited impact on the global market as the drug is considered to be life-saving medication for chronic disorders. At the same instance, the stockpiling of certain types of the product coupled with the usage of heparin as a COVID-19 therapeutic has spurred the demand in certain treatment procedures. Similarly, some of the ways through which the pandemic had an adverse bearing on the global market include the sharp reduction in hospital visits worldwide and supply issues as the raw material is sourced from China. Hence, the global market has witnessed both positive and negative impacts.

LATEST TRENDS

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Increasing R&D Initiatives for Synthetic Heparin to Escalate Trade Openings

While there have been several technological advancements, the importance and the critical nature of heparin therapy in the process of anticoagulation remains unchanged. But, at the same time, several factors that include the availability of porcine raw material for the development and manufacturing of these drugs have been causing concerns globally, especially in the market of the U.S. Furthermore, recent research initiatives in the control of enzymes associated with these drugs have offered great potential in the development and preparation of synthetic unfractionated heparin, LMWH, and ULMWH.

The development of synthetic heparin can give rise to products with reduced side effects of heparin-induced thrombocytopenia (i.e., HIT), with more defined physical, chemical, biological, and pharmacological properties. For instance, a newer synthetic version of sulfated polysaccharide heparin is expected to have a better safety profile and more-reversible activity than currently approved versions of the anticoagulant. Such trends are expected to significantly boost the growth of the global market during the forecast period.

DRIVING FACTORS

Increased Incidence of Cardiovascular and Other Chronic Disorders to Boost Market Growth

One of the foremost driving factors influencing the global market is the increasing prevalence of cardiovascular diseases, which is expected to fuel the demand for heparin. Almost all forms of cardiovascular diseases and other associated conditions such as heart attacks and strokes are expected to remain prevalent in the forthcoming years. For instance, according to statistics published by the American Heart Association (AHA), in 2019, Heart Disease and Stroke Statistics, an estimated 5.3 million Americans suffer from atrial fibrillation. Such trends and statistics depict substantial potential and existing patient populations worldwide, which is expected to lead to strong demand for these drugs. Furthermore, increasing patient awareness about the efficiency of these drugs in the treatment of numerous heart diseases will drive the market. Hence, the rising incidence and prevalence of cardiovascular diseases will boost market growth during the forecast period.

High Usage of Anticoagulant in Various Applications to Drive Market Growth

One of the key factors anticipated to drive the global market growth is the efficacy of these drugs as an anticoagulant. Furthermore, certain factors such as technological advancements, and new product launches are prominently expected to drive the growth of the global market. The increased usage of these drugs has further instigated advancements for the development of LMWH. Additionally, technological advancements have given rise to newer forms such as the ULMWH. Hence, these factors are expected to positively impact the market during the forecast period.

RESTRAINING FACTORS

Shortage of Raw Material and Higher Prices of Certain Types to Limit Market Growth

Some of the restraining factors affecting the growth of the global market are the concerns associated with the shortage of raw materials for the manufacturing of porcine based heparin, which is procured from China. China has recently suffered from multiple outbreaks of African Swine Fever (ASF), which is a fatal disease for the swine, which led to the widespread culling of pigs to control the outbreaks. The second restraining factor is the higher costs associated with the LMWH, which may limit its greater adoption in the developing markets, and is anticipated to restrict the market growth in the forthcoming years.

SEGMENTATION

By Product Type Analysis

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Low Molecular Weight Heparin (LMWH) to Grow at Faster Pace during 2020-2027

Based on type, the market includes unfractionated heparin (UFH) and low molecular weight heparin (LMWH), and others. The LMWH segment held a dominant share of the market in 2019. The dominance is owing to the greater adoption of this product type in the developed markets, the higher pricing of these product offerings, and also the greater safety profiles of these products in comparison to other types. Some important LMWH products include Fragmin (Dalteparin sodium), Lovenox (Enoxaparin sodium), and Innohep (Tinzaparin sodium).

However, the UFH segment is anticipated to register a lower market share in the forecast period. This is primarily due to the increasing transition towards the usage of LMWH, and also the concerns associated with safety profiles of this product type.

By Source Analysis

Porcine Segment Accounted for the Highest Market Share in 2019

Based on the source, the market is segmented into bovine, and porcine. The porcine segment is anticipated to dominate the market during the forecast period because, in key markets like North America and Europe, porcine is the only permitted heparin derived from an animal-based source. Hence, this type maintains an undisturbed dominance over the global market. The bovine segment, which is present in certain Islamic countries and Latin American countries, accounted for a lower share of the global market and also registered a comparatively lower CAGR.

By Application Analysis

Deep Vein Thrombosis & Pulmonary Embolism Dominated the Market in 2019

Based on the application, the market can be segmented into deep vein thrombosis & pulmonary embolism, atrial fibrillation, heart attacks, stroke, and others. The deep vein thrombosis & pulmonary embolism segment is expected to dominate the market because of the significant proportion of the populace suffering from the disease for which one of the most important interventions is the administration of anticoagulants.

The atrial fibrillation segment is anticipated to be the second-largest segment in the forecast period since a sizable proportion of the global populace suffers from the disease. The heart attacks and the stroke segment also account for significant market shares during the forecast period as heparin is an important treatment option for these medical conditions. The other segment consists of application areas such as administration during hemodialysis amongst others and is expected to register a comparatively lower CAGR.

By Route of Administration Analysis

Subcutaneous Injection Segment Registered the Highest CAGR in 2019

Based on the route of administration, the market can be segmented into an intravenous infusion and subcutaneous injection. The subcutaneous injection segment is expected to dominate the market because LMWH is often administered subcutaneously and these product offerings are comparatively priced higher. The intravenous infusion segment is anticipated to register a comparatively lower growth rate in the forecast period and includes several prominent product offerings of UFH that can be administered intravenously.

By End User Analysis

Others to Register a Higher CAGR during the Forecast Period

Based on the distribution channel, the market is segmented into hospitals & ASCs, clinics, and others. The hospitals & ASCs are expected to account for the highest share of the global market in the forecast period. This is primarily due to the reason that there is still a greater dependency on healthcare professionals for the prescription of heparin, and then also the proper administration especially through intravenous infusion. The clinics are expected to account for the second-largest market share during the forecast period since several of these products are administered at dialysis clinics amongst others. The other segment is anticipated to register the highest CAGR primarily owing to the increasing usage of LMWH through subcutaneous administration, at homecare settings. 

REGIONAL INSIGHTS

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Based on region, the global market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market size in North America stood at USD 4.28 billion in 2019. The dominance of North America in the global market is attributable to the region’s strong prevalence of cardiovascular diseases such as pulmonary embolism, the greater adoption of advanced products, strong healthcare expenditure, and the presence of important market players engaged in heparin sales. For instance, according to the Centers for Disease Control and Prevention (CDC) in 2017, it was estimated that approximately 900,000 people could be affected (1 to 2 per 1,000) by deep vein thrombosis each year in the U.S.

The market in Europe is anticipated to be the second-largest market in the globe owing to the strong adoption of technologically advanced products in the region coupled with the increasing number of individuals suffering from a range of cardiovascular diseases. The Asia Pacific market is anticipated to register the highest CAGR in the forecast period owing to the greater demand for technologically sophisticated products, a strong potential patient population, and a significant surge in healthcare expenditure.

The other regions include Latin America, and the Middle East & Africa which accounted for a comparatively lesser market share but is expected to register strong growth prospects in the forecast period due to increased healthcare expenditure, and greater awareness of timely treatment of chronic illnesses, such as cardiovascular diseases.

KEY INDUSTRY PLAYERS

Strong Product Portfolio of Pfizer, Inc., and Baxter to Consolidate Market

In the competitive scenario, the global market is characterized by the presence and dominance of a few key companies such as Baxter, Pfizer, Inc., and Sanofi-Aventis. In the current competitive scene, Pfizer, Inc., and Baxter are dominating the global market in 2019, accounting for a strong market revenue share. The dominance of these market players are attributable to their strong and robust product portfolio and comprises several product types. For instance, Pfizer, Inc.’s dominance is due to its prominent product offering of Fragmin (Dalteparin sodium), LMWH.

Other important players include Baxter whose market presence is due to their product offering, and also Sanofi-Aventis due to their product offering of Lovenox (Enoxaparin sodium). Some other emerging players include Opocrin S.p.A. and Aspen Holdings, and these companies’ market expansion strategies are anticipated to aid them to increase their market revenue share in the forecast period.

LIST OF KEY PLAYERS PROFILED:

• Opocrin S.p.A. (Formigine, Italy)


• Baxter (Deerfield, U.S.)


• Pfizer Inc. (New York, U.S.)


• Bioiberica S.A.U. (Barcelona, Spain)


• Fresenius SE & Co. KGaA (Bad Homburg, Germany)


• Hebei Changshan Biochemical Pharmaceutical Co., Ltd. (Shijiazhuang, China)


• B. Braun Melsungen AG (Melsungen, Germany)


• Dr. Reddy’s Laboratories Ltd. (Hyderabad, India)


• LEO Pharma A/S (Ballerup, Denmark)


• Aspen Holdings (Durban, South Africa)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• April 2021- Fresenius Kabi AG announced the introduction of low concentration heparin sodium in ready to administer Freeflex bag in the U.S. region.


• November 2020 – Fresenius Kabi AG partnered with Premier Inc. through its ProvideGx program, to fecilitate the supply of pre-filled, single use IV bags of heparin sodium injections to healthcare providers. This partnership will help stabilize the demand of heparin during hospital inpatient procedures.


• April 2020 – Cerus Advisors DMCC, (CERUS), a boutique family office management firm, announced the acquisition of 100% of the stock of Laboratori Derivati Organici SpA (LDO) by Opocrin S.p.A. The product portfolio of LDO consists of heparin, along with a series of other specialized biological APIs.

REPORT COVERAGE

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The global market research report provides a detailed analysis of the market and focuses on key aspects such as key industry developments - mergers, acquisitions, and partnerships, new product launches, prevalence of key cardiovascular diseases, by key countries, china market overview, blood clots: stats & facts, an overview of technological advancements, the impact of COVID-19 pandemic on the market, regulatory scenario by key countries, reimbursement scenario by key countries, trends of consumption in Muslim-oriented markets, insights on the usage of UFH & LMWH, purchasing process, and pricing. Besides this, the report offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the global market over recent years.

Report Scope & Segmentation