Low molecular weight heparin (LMWH) is a class of anticoagulant medications that are used to treat and prevent venous thromboembolism (VTE) conditions such as deep vein thrombosis and pulmonary embolism. LMWH products have advantages over conventional unfractionated heparin as they produce more predictable anticoagulation, longer plasma half-life, and lower risk of inducing osteoporosis and thrombocytopenia. The growing prevalence of venous thromboembolic disorders, rising geriatric population, and favorable reimbursement policies are fueling the demand for LMWH drugs worldwide.
The Global Low Molecular Weight Heparin Market is estimated to be valued at US$ 14.8 billion in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2034.
Key Takeaways
Key players operating in the low molecular weight heparin market are Pfizer Inc., Dr. Reddy’s Laboratories Ltd., Biocon, Aspen Holdings, and Intas Pharmaceuticals Ltd.
The increasing incidence of venous thromboembolism, obesity, and sickle cell disease is driving the consumption of LMWH drugs for prevention and treatment. As per some estimates, over 4,50,000 people in the US are diagnosed annually with deep vein thrombosis alone that requires anticoagulant medication.
Major pharmaceutical companies are expanding their global footprint through new product launches and acquisitions to capitalize on the high unmet needs across developing economies. For instance, in 2019, Pfizer acquired Therachon to enhance its rare disease product portfolio including heparin drugs.
Market key trends
The growing geriatric population susceptible to VTE disorders is a key growth driver for the Low Molecular Weight Heparin Market. As per the United Nations, people aged 60 years or older are projected to outnumber children under 10 years by 2050. Moreover, the increasing preference for LMWH over unfractionated heparin owing to the better safety profile is propelling the market forward. Pharmacovigilance practices are also prompting the shift from intravenous UFH to subcutaneous LMWH in various treatment lines.
Porter’s Analysis
Threat of new entrants: Low as high capital investment required for production and distribution network.
Bargaining power of buyers: Moderate as buyers have bargaining power due to availability of substitute products.
Bargaining power of suppliers: Low as raw materials for LMWH production are commoditized and available from multiple suppliers.
Threat of new substitutes: Moderate as new drug delivery systems and oral anticoagulants pose threat.
Competitive rivalry: High among existing players to gain market share.
Geographical Regions
North America currently accounts for the largest share of the global low molecular weight heparin market, in terms of value, followed by Europe. This is attributed to factors such as increasing use of LMWHs in different therapeutic indications, availability of reimbursement for LMWH therapy, and rising incidence of venous thromboembolism in the region. The Asia Pacific low molecular weight heparin market is expected to witness the highest growth during the forecast period, owing to growing healthcare expenditure, increasing disposable income, expanding medical tourism industry, and rising geriatric population in major Asia Pacific countries such as China, Japan, and India.
Germany dominates the Europe LMWH market, followed by France, U.K., Italy and Spain. This can be attributed to high healthcare spending, presence of sophisticated healthcare infrastructure, and availability of favorable reimbursement policies for LMWH therapy in these countries. China is expected to witness fastest growth in the Asia Pacific LMWH market during the forecast period owing to factors such rising healthcare spending, growing medical tourism industry and increasing penetration of health insurance in the country.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it