The global heparin market is foreseen to welcome auspicious prospects in the close future on account of a higher demand for synthetic products vis-à-vis naturally-derived products. The death of Iranian filmmaker Abbas Kiarostami in July 2016 due to alleged overdose of heparin causing a massive brain hemorrhage still rings in the minds of people around the world. Scientists are expected to focus on the development of synthetic heparin products, owing to their cheaper and safer characteristics. Naturally-derived heparin products, on the flip side, could cause major side effects if overdosed.
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Manufacturers are prognosticated to be advantaged by an enhanced scope for the expansion of their product portfolio as a result of the emergence of biosimilars, even though decreasing imports from China could be a significant growth bottleneck. Leading market research company, Transparency Market Research (TMR) expects the global heparin market to rake in a US$14.3 bn by 2023 while rising at a CAGR of 6.3% during the forecast period 2015–2023.
The world heparin market could rely severely on low-molecular-weight heparin (LMWH) for its growth. LMWH is anticipated to collect a revenue of US$12.3 bn by the concluding forecast year, only a US$2.0 bn less than the total projected revenue of the world heparin market. In comparison with unfractionated heparin, LMWH could offer proven benefits, consequently attracting a telling demand in the world heparin market. In arterial and venous thrombosis treatments, LMWH is considered as a typical care drug choice. The sale of LMWH could be fortified in the forthcoming years in view of its relatively fewer side effects.
However, it should be noted that the choice of drugs primarily depends on the patient’s medical condition and type of disease treated for. While there is a whole lot of hype around LMWH, ultra-low-molecular-weight heparin (ULMWH) is envisaged to gradually draw demand in the world heparin market. This could be due to the increasing engagement of ULMWH anticoagulants as an alternative to unfractionated heparin in dialysis.
With almost a 900,000 people suffering from deep vein thrombosis (DVT) and pulmonary embolism (PE) annually in the U.S., according to the Centers of Disease Control and Prevention (CDC), North America is foretold to record a stunning growth in the international heparin market. Moreover, the U.S. could witness a significant influx of medical tourists preferring its refined healthcare infrastructure. The demand in North America could be fueled by the augmenting count of surgeries performed in the U.S.
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Although Europe is prophesied to take the second leading position in the international heparin market, Asia Pacific could showcase a faster growth because of an almost doubled occurrence of venous thromboembolism (VTE) in India over the last decade. The surging incidence of coagulation disorders is envisioned to be critically gainful for the growth of the overall heparin market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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