New York, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The latest research study on “Low Molecular Weight Heparin Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Enoxaparin, Dalteparin, Tinzaparin, Fraxiparine, Nadroparin, and Others), Packaging (Multi-Vials and Prefilled Syringes), Application [Deep Vein Thrombosis, Acute Coronary Syndrome (ACS), Pulmonary Embolism, and Others], and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Geography”, published by The Insight Partners. The report highlights trends existing in the market, and drivers and hindrances pertaining to the market growth. The market growth is mainly attributed to the advantages of low molecular weight heparin over unfractionated heparin and the introduction of LMWH anticoagulants. However, the adverse effects of low molecular weight heparin during treatment hinder the market growth.
| Report Coverage | Details |
| Market Size Value in | US$ 3,658.27 million in 2021 |
| Market Size Value by | US$ 5,733.96 million by 2028 |
| Growth rate | CAGR of 6.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 191 |
| No. Tables | 111 |
| No. of Charts & Figures | 80 |
| Historical data available | Yes |
| Segments covered | Product Type, Packaging, Application, End User, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Low Molecular Weight Heparin Market: Competition Landscape and Key Developments
Aspen Holdings; Changzhou Qianhong Bio-Pharma; Leopharma A/S; Teva Pharmaceutical Industries Ltd.; B. Braun Medical, Inc.; Pfizer, Inc.; Sanofi; Dr. Reddy's Laboratories Limited; Abbott; and Novartis AG are a few leading companies operating in the low molecular weight heparin market. The companies adopt inorganic and organic growth strategies to expand their footprints and product portfolio worldwide to meet the rising demands for low molecular weight heparin. In July 2020, Novartis launched first-of-its-kind not-for-profit portfolio of medicines for the symptomatic treatment of COVID-19.
In 2021, North America held the largest share of the global low molecular weight heparin market. The major factors expected to drive the market growth in the United States are the growing burden of diseases, coupled with the rising geriatric population and the rising number of approvals. According to the Population Reference Bureau Factsheet, the number of Americans above 65 years of age is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group’s share of the total population is likely to rise from 16% to 23%, which shows a positive impact on the heparin market, as the geriatric population is more prone to chronic diseases.
Developments by Companies to Drive Low Molecular Weight Heparin Market:
The Shenzhen Panorama Network has increased the production of new LMWH products to expand its presence in the market. In May 2020, Meitheal Pharmaceuticals Inc. received an FDA approval for Enoxaparin Sodium Injection (USP), a generic equivalent of Lovenox. The increasing propensity of research institutes to encourage the use of LMWH in new treatments would boost its demand in the future. The LMWH helps improve coagulation disorder occurring in COVID-19 patients; it exerts anti-inflammatory effects by reducing IL-6 and stimulating lymphocyte percentage. This application of LMWH is paving the way for well-controlled clinical trials in the field of COVID-19. The American University of Beirut Medical Center is sponsoring a study of bemiparin sodium (a form of LMWH), which is in Phase IV clinical trials that are being conducted for its ability to improve pregnancy outcomes in patients with recurrent implantation failure, who are undergoing IVF/ICSI treatment. In addition, important players in the market are working with hospitals to strengthen their product portfolio. For example, Bayer is working with Assistance Publique - Hopitaux de Paris to investigate the combination of rivaroxaban and low molecular weight heparin against neoplasms and venous thromboembolism, which is in the Phase 3 trial.
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Further, the increasing implementation of other organic and inorganic growth strategies of key players in the low molecular weight heparin market is expected to drive its adoption in the future. In July 2018, Pfizer Inc. announced its plans of investing US$ 465 million in building a technically advanced manufacturing facility for sterile injectable pharmaceutical products in Michigan, US. In April 2018, Laboratorios Farmaceúticos Rovi SA announced that it has signed a license to expand an agreement with Hikma Pharmaceuticals PLC for ROVI's enoxaparin biosimilar, to leverage Hikma's strong presence in the Middle East and North Africa (MENA).
Low Molecular Weight Heparin Market: Segmental Overview
The global low molecular weight heparin market, based on product type, is segmented into enoxaparin, dalteparin, tinzaparin, fraxiparine, nadroparin, and others. The enoxaparin segment held the largest share of the market in 2021. However, the dalteparin segment is anticipated to register the highest CAGR of 7.1% in the market during the forecast period.
The global low molecular weight heparin market, based on packaging, is bifurcated into multi-vials and prefilled syringes. In 2021, the multi-vials segment held a larger share of the market, whereas the prefilled syringes segment is expected to register the highest CAGR during 2021–2028.
The global low molecular weight heparin market, based on application, has been segmented into deep vein thrombosis, acute coronary syndrome (ACS), pulmonary embolism, and others. The deep vein thrombosis segment held the largest share of the market in 2021. However, the acute coronary syndrome (ACS) segment is anticipated to register the highest CAGR in the market during the forecast period.
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The global low molecular weight heparin market, based on end user, has been segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment held the largest share of the market in 2021. However, the ambulatory surgical centers segment is anticipated to register the highest CAGR in the market during the forecast period.
Low Molecular Weight Heparin Market: COVID Impacts
The spread of the COVID-19 pandemic has emphasized health data sharing and interoperability under the microscope. The infection of novel coronavirus in children is mild compared to adults, and children are assigned a better prognosis. The interruptions in the supply chain and the massive demand for efficient treatments for COVID-19 have put the health research industry in Asia-Pacific in a crucial position.
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