by The Global Heparin Calcium Market is estimated to be valued at US$ 1,370.9 Mn in 2023 and is expected to exhibit a CAGR of 2.7% over the forecast period 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Heparin calcium is an anticoagulant that is widely used in the treatment of thromboembolic disorders such as venous thromboembolism (VTE) and acute coronary syndrome. It is a naturally occurring glycosaminoglycan that inhibits coagulation, preventing the formation of blood clots. Heparin calcium acts by enhancing the natural anticoagulant properties of antithrombin III. It provides advantages such as preventing life-threatening blood clots and extending life for millions battling cardiovascular disease or undergoing surgery each year. The growing prevalence of cardiovascular diseases worldwide owing to changing lifestyles and the increasing geriatric population has fueled the demand for heparin calcium over the forecast period.
Market key trends:
One of the key trends in the heparin calcium market is the increasing preference for low molecular weight heparins (LMWHs) over unfractionated heparin. LMWHs have emerged as a preferred alternative to unfractionated heparin owing to advantages such as better bioavailability, longer half-life, and more predictable anticoagulant response. LMWHs cause less bleeding complications compared to unfractionated heparin. Also, the approval and availability of generic versions of branded LMWHs such as enoxaparin sodium and dalteparin sodium have further increased their adoption. This has propelled the growth of LMWHs like enoxaparin sodium in the global heparin calcium market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Establishing production facilities for heparin calcium requires large capital investments and strict regulatory approvals. However, low entry barriers encourage new players in developing countries.
Bargaining power of buyers: The bargaining power of buyers is high. The market has several large buyers and buyers can negotiate for better prices from suppliers and manufacturers. Buyers can also switch between alternative products easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. While raw materials are available globally, manufacturers rely on few suppliers for key raw materials. Suppliers may limit supply to increase prices.
Threat of new substitutes: The threat of new substitutes is low. Heparin calcium faces limited competition from less popular substitutes like fondaparinux and argatroban. New substitute products are unlikely to displace heparin calcium.
Competitive rivalry: Competition in the market is high among major players. Players compete based on product quality, innovation, and pricing.
Key Takeaways
The Global Heparin Calcium Market is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing prevalence of cardiovascular diseases and government funding for research.
North America is expected to dominate the global market owing to rising healthcare expenditure and availability of advanced healthcare facilities in the US and Canada. Asia Pacific is likely to exhibit fastest growth due to growing pharmaceutical industry in India and China.
Key players operating in the Heparin Calcium market are Sanofi, Pfizer Inc., Dongying Tiandong Pharmaceutical Co., Ltd., PANPHARMA S.A., Merck KGaA, Teva Pharmaceutical Industries Ltd., SMITHFIELD BIOSCIENCE, Afine Chemicals Limited, Yino Pharma Limited, Shandong Sheelian Pharmaceutical Co., Ltd. and Aspen Holdings.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
