Low Molecular Weight Heparin Market is Anticipated to Witness High Growth Owing to Rising Prevalence of DVT & PE
Low molecular weight heparins (LMWHs) are a class of anticoagulant medications derived from heparin that have a lower molecular weight than standard heparin. They are more available medication forms of heparin, with less bleeding complications compared to conventional heparin. LMWHs have a variety of applications including prevention and treatment of deep vein thrombosis (DVT) and pulmonary embolism (PE), treatment of acute coronary syndrome (ACS) and more. The increasing incidence of disorders such as DVT, PE, and ACS in which LMWH is primarily used for treatment is anticipated to fuel market growth during the forecast period.
The global low molecular weight heparin market is estimated to be valued at US$ 3,903.1 million in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030).
Key Takeaways
Key players operating in the Low molecular weight heparin Market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. Low molecular weight heparins have demonstrated superior clinical benefits over standard heparin in preventing venous thromboembolism in orthopedic surgeries. This provides ample growth opportunities for LMWH producers to further penetrate into orthopedic segments. The companies are focusing on geographical expansion plans that can help them tap new emerging markets. Delivery Hero acquired Bahrain's Talabat and Kuwait's Carriage to bolster regional presence in the Middle East. Uber Eats acquired Postmates to expand delivery capabilities in the US.
The increasing prevalence of cardiovascular diseases, cancer, and orthopedic disorders across the globe presents significant growth prospects for players operating in the Low Molecular Weight Heparin Market Demand. Expanding healthcare infrastructures, growing medical reimbursements, and increasing patient awareness in developing Asian countries offer lucrative expansion opportunities. To capitalize on the growth prospects in Asia, Getir acquired Turkish rival Gorillas’ German operations, while Gopuff invested in Indian delivery startup Dunzo.
Market Drivers
The rising prevalence of deep vein thrombosis, pulmonary embolism and acute coronary syndrome globally is the major factor driving the growth of the LMWH market. According to WHO estimates, DVT affects up to 900,000 Americans annually. Growing obese and geriatric population, increasing number of surgeries like hip and knee replacement surgery, sedentary lifestyle are further fueling the risk of DVT and demand for LMWH.
Market Restrains
Major restraints faced by LMWH market are high costs associated with it compared to conventional heparin therapy. Moreover, issues related to bioavailability, stability and standardization of LMWH products add to production challenges. Concerns over bleeding complications on overdosage also limit the widespread adoption of LMWH. Stringent regulations for drug approval further delays market entry of new players.
Segment Analysis
The low molecular weight heparin market is segmented based on product type, route of administration, application, and end user. The product type segment includes enoxaparin, dalteparin, and others. The enoxaparin segment accounts for the major share as it is widely used for the treatment of venous thromboembolism and unstable angina pectoris. In terms of route of administration, the subcutaneous segment holds a significant share due to high efficacy and safety of drugs administered through this route. The application segment of the market includes venous thromboembolism, acute coronary syndrome, and others. Venous thromboembolism dominates the market due to increasing prevalence of deep vein thrombosis and pulmonary embolism. The end user segment is divided into hospitals, clinics, and others. Hospitals account for the largest share as most surgeries and treatments using low molecular weight heparin are performed in hospitals.
Global Analysis
Regionally, North America dominates the global low molecular weight heparin market due to increasing prevalence of diseases such as coronary artery disease and cancer in the region. Furthermore, the region has a strong medical infrastructure and high healthcare spending, which support the growth of the market. Europe holds the second position in the global market due to growing awareness about low molecular weight heparin drugs and availability of advanced healthcare facilities. However, Asia Pacific displays the fastest growth rate due to expanding medical tourism industry and improving access to healthcare in emerging nations of China and India. Improving healthcare expenditure in Latin America and Middle East & Africa are factors expected to boost the regional markets during the forecast period.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163