Owing to strong and unique molecular properties, prevention and treatment of thrombotic event, prevention of excess coagulation during cardiac surgery, dialysis and other procedures is leading to better patients outcomes. This is increasing the demand Heparin Sodium fostering remarkable progress of global heparin sodium market
The Heparin Sodium market is expected to grow at a CAGR of 3.33% to reach USD 2363.82 million in 2028.
Covid-19 Impact & Market Status
Because the medicine is considered a life-saving therapy for chronic diseases, the COVID-19 pandemic has had little influence on the global heparin sodium market. Similarly, the buildup of specific varieties of the product, as well as its use as a COVID-19 therapy, has increased demand for treatment techniques. However, in the early days of the pandemic, the pandemic generated certain barriers on the global market, such as a steep fall in hospital visits globally and supply concerns because the raw material is imported from China. The global market, on the other hand, has rebounded well from the pandemic's initial negative impact.
Heart Attacks Dominate the Application Segment
Deep vein thrombosis and pulmonary embolism, atrial fibrillation, heart attacks, stroke, and others are few of the applications that exist in the market. The heart attacks category is predicted to dominate the market due to the large number of people who suffer from the condition, and one of the most important therapies is the use of anticoagulants like these products.
Because a considerable fraction of the global population suffers from atrial fibrillation, it is expected to be the second-largest category throughout the projected period. During the projection period, the deep vein thrombosis and pulmonary embolism sector, as well as the stroke segment, will account for considerable market shares since this product is an essential therapeutic choice for these medical disorders. The American Heart Association presented a report that said, cardiovascular ailment affects 92.1 Billion people in the United States. Furthermore, cardiovascular disease kills one out of every three people in the United States, with 2,300 people dying every day. The other category includes application areas such as haemodialysis administration, among others, and is predicted to grow at a slower rate.
Analysis On The Basis Of Type
In 2021, the LMWH category commanded most of the global heparin sodium market. The high acceptance rate of this product type in developed markets, the higher price connected with this product, and the superior safety profiles of these goods in contrast to other types all contribute to this segment's dominance. The major manufacturers have also been concentrating their efforts on developing and marketing new LMWH products into the global market.
North American Market Leading from the Front
The global heparin sodium market in North America was worth USD 4.50 billion in 2021, and the region is likely to account for the mainstream global market throughout the forecast period. Because of the region's high incidence of cardiovascular disorders such as pulmonary embolism, increased adoption of sophisticated goods, high healthcare spending, and the existence of important market players involved in these product sales, North America leads the global market. For example, the Centers for Disease Control and Prevention (CDC) anticipated in September 2020 that roughly 12.1 Billion individuals in the United States will be afflicted with atrial fibrillation by 2030.
Heparin is one of the most important life-saving medications now available on the market. It can be used to control and treat a variety of chronic illnesses. This medication is an anticoagulant, which is used to treat a variety of cardiovascular illnesses such as deep vein thrombosis and pulmonary embolism.
The drug's critical necessity has led to its continued existence by numerous large businesses, including Baxter and Pfizer, which will boost global heparin market expansion throughout the projection period.
The global heparin sodium market is expected to grow approximately 13.25 Bn by 2029 with an annualized growth rate of 3.89% through the forecast span 2022-2029. During the pandemic, COVID-19 had an amazing and astounding global impact, with heparin having a positive demand across all domains.
There has been substantial evidence supporting the concept that, in addition to its anticoagulant qualities, this medicine also has strong anti-inflammatory properties, resulting in the market's predicted growth throughout the forecast period. The market is predicted to develop even faster as a result of the advantages linked to this product, as well as the many R&D projects.
The rising incidence of cardiovascular illnesses in key age groups such as the elderly population, which is likely to fuel demand for this product, is one of the most important driving factors influencing the global market. The Centres for Disease Control and Prevention (CDC) reported that around 655,000 Americans would pass away due to cardiovascular ailments per year in 2020. Furthermore, 18.2 Billion individuals aged 20 and up suffer from coronary artery disease, according to 2017 figures.
However, due to increase in adverse effects of heparin sodium, its use is now limited in clinical practices. Also, bleeding is a major complication noticed on use of heparin. This is impeding the demand for heparin hampering the global heparin sodium market.
The trends and statistics indicate large prospective and current patient populations throughout the world; these are only a few of the factors that contribute to a high demand for these products. Furthermore, rising patient awareness of the efficacy of these medications in the treatment of various cardiac disorders would propel the global heparin sodium market forward. As a result, global heparin sodium market growth would be aided by the increased prevalence and incidence of cardiovascular illnesses throughout the forecast period.
The current global heparin sodium market leaders are Pfizer, Opocrin S.p.A, Baxter, Bioiberica S.A.U, LEO Pharma A/S, and Aspen Holdings. In the current market scenario, that is post covid-19, these companies have seen a huge jump in their revenues and are expected to grow at an even faster rate in the near future. The companies’ robust and confident portfolio have made them the market leaders. Also, the diversity and variety in their product types is a vital factor behind their growing numbers of revenue along with the expansion strategies. These strategies set an example and pave the way for newcomers in the market.
Latest Innovations in the Global Heparin Sodium Market: A Snapshot
- Although technological breakthroughs have occurred, the criticality and relevance of heparin treatment during the anticoagulation process has not changed. Furthermore, a number of issues, such as the lack of porcine raw material for medicinal research and production, have prompted global concerns, notably in the US market. Furthermore, current research endeavours concentrating on the regulation of enzymes that govern these drugs have showed enormous promise in terms of the development and production of synthetic unfractionated, low molecular weight heparin (LMWH), and ultra-low molecular weight heparin (ULMWH) (ULMWH).
- The creation of the synthetic version might lead to products with less heparin-induced thrombocytopenia (HIT) adverse effects and better characterised physical, chemical, biological, and pharmacological features. For example, a new synthetic variant of sulphated polysaccharide heparin is projected to have a better safety profile and reversible action than the anticoagulant's already authorised versions. During the projected period, such developments are likely to considerably enhance global market growth.
Heparin Sodium Market Scope
|Revenue forecast in 2028
|USD 13.25 billion
|CAGR of 3.89% during 2021-2028
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and South Africa
|Key Players Profiled
|Pfizer, Opocrin S.p.A, Baxter, Bioiberica S.A.U, LEO Pharma A/S, and Aspen Holdings
Key Segments of the Global Heparin Sodium Market
Type Overview, 2019-2029 (USD Billion)
Application Overview, 2019-2029 (USD Billion)
- Deep Vein Thrombosis
- Pulmonary Embolism
- Atrial Fibrillation
- Heart Attacks
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa