ALBANY, New York, February 8, 2018
ALBANY, New York, February 8, 2018 /PRNewswire/ --
According to the report, the global unfractionated heparin market was valued at US$955.9 mn in 2016 and is expected to expand at a CAGR of 6.4 % from 2017 to 2025, rising to an estimated value of US$1664.4 mn in 2025.
Porcine-based Unfractionated Heparin Dominates Global Demand
Of the key sources of unfractionated heparin, the segment of porcine-based unfractionated heparin remained the key contributor towards the global market in 2016. Bovine sourced unfractionated heparin was banned in the U.S. and Europe region post 1990s due to the spread of bovine spongiform encephalopathy (BSE) disease in cattle. However, recently (2014) the Center for Drug Evaluation and Research (CDER) has proposed the re-introduction of bovine-based heparin due to shortage of porcine-based unfractionated heparin.
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Geographically, the market for unfractionated heparin in North America accounted for the largest share in the global market in 2016, thanks to the rising prevalence of coagulation disorders such as deep vein thrombosis (DVT) and pulmonary embolism (PE).
Rising Numbers of Cardiovascular Surgeries Globally to Drive Market
Unfractionated heparin is a naturally occurring anticoagulant that finds primary usage in dialysis and as an anticoagulant for surgeries such as coronary artery bypass grafting. It is also used for the treatment of blood clotting disorders such as deep venous thrombosis and pulmonary embolism. The rapidly rise in prevalence of coagulation disorders such as deep vein thrombosis (DVT) and pulmonary embolism (PE) has led the increased global demand for unfractionated heparin in the past few years. While the precise number of people affected by these conditions is hard to find, several cohort studies estimate that DVT affects nearly 900,000 people each year in the U.S. alone.
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The demand for unfractionated heparin is also fueled owing to factors such as its immediate onset of action, short half-life, simple laboratory monitoring, ability to get reversed (protamine), and low cost. While these factors are likely to continue to drive the market in the next few years as well, the market will also benefit from the increased demand from regions such as Asia Pacific and Europe wherein the population of geriatrics is rising rapidly. Across the globe, the vast rise in cardiovascular surgeries requiring unfractionated heparin as the preferred anticoagulant is also expected to work in favor of the market.
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The vendor landscape of the global unfractionated heparin market features a largely consolidated nature, with several large international vendors and a handful of local players operating in the market, observes Transparency Market Research in a recent report. With the view of maintaining their strongholds on the market, leading companies are focusing acquiring or entering into strategic mergers and collaborations with promising small-scale vendors in lucrative regional markets. Investments in regional markets such as Latin America and Asia Pacific are increasing as companies look at exploiting growth opportunities in these regions with a large pool of untapped opportunities.
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Some of the leading players operating in the global unfractionated heparin market are Pfizer, Inc., Baxter International Inc., Fresenius SE & Co. KGaA, LEO Pharma A/S, B. Braun Melsungen AG, and Sagent Pharmaceuticals.
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