The 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.
Heparin calcium is an injectable anticoagulant that acts as an indirect inhibitor of thrombin and factor Xa. It helps prevent blood clot formation and is prescribed for many conditions including heart attacks, pulmonary embolisms, deep vein thrombosis, and strokes. Heparin calcium is widely used in surgical procedures and in prophylaxis of venous and arterial thrombosis.
Market key trends:
One of the key factors driving growth of the Heparin Calcium market is the increasing prevalence of cardiovascular diseases globally. According to the World Health Organization, cardiovascular diseases are the number one cause of death around the world and accounted for over 17.9 million deaths in 2019. Higher incidence of cardiovascular disorders and need for anticoagulants in treatment and management of these diseases is surging demand for heparin calcium. Additionally, extensive use of heparin calcium in surgeries such as cardiac surgeries, orthopedic surgeries, and dialysis is also fueling market growth over the forecast period.
Threat of new entrants: New companies face high production costs for establishing manufacturing facilities and obtaining regulatory approvals, acting as a barrier.
Bargaining power of buyers: Large buyers like hospitals have significant bargaining power due to their bulk purchasing abilities, exerting downward pressure on prices.
Bargaining power of suppliers: Few suppliers are engaged in the manufacturing of key raw materials, giving them strong influence over prices.
Threat of new substitutes: Limited substitutes are available for heparin calcium in its therapeutic applications.
Competitive rivalry: Intense competition exists between major companies to capture market share through extensive R&D for product innovations.
Strengths: Established applications in anticoagulation therapy with a huge patient pool and recognized efficacy and safety profile.
Weaknesses: Stringent regulatory norms hinder product development cycles; heavy dependency on China and Japan for key inputs.
Opportunities: Rising geriatric population prone to cardiovascular diseases and surgeries points towards demand growth. Investments in biologics will create new areas.
Threats: Safety issues may lead to recalls affecting brand image; technology advancements bring novel anticoagulants.
The Global Heparin Calcium Market is expected to witness high growth, exhibiting CAGR of 2.7% over the forecast period, due to increasing incidence of cardiovascular disease, respiratory disease and rising number of surgeries. North America dominated the heparin calcium market in 2021 and is projected to maintain its lead over 2022-2030 due to high healthcare expenditure and presence of key pharmaceutical players in the region. Asia Pacific expected to grow at fastest pace during the forecast period.
Asia Pacific market to witness highest growth at a CAGR of around 4% due to rising healthcare investments, growing middle-class population with higher medical needs and increasing penetration of major players in emerging countries like India, China, Australia, and South Korea.
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., Aspen Holdings, Opocrin S.p.A. Major players focus on product innovation, facility expansion and mergers & acquisitions to strengthen their global presence.