Low Molecular Weight Heparin Market to see growth owing to increasing product adoption in orthopedic surgeries
Low Molecular Weight Heparin Market to see growth owing to increasing product adoption in orthopedic surgeries
Blog Article
The global Low Molecular Weight Heparin Market is estimated to grow exponentially owing to rising product adoption in various orthopedic surgeries. Low molecular weight heparin (LMWH) products are commonly used anticoagulant drugs that provide better efficacy and safety over unfractionated heparin. LMWH drugs are derived from standard heparin through chemical or enzymatic depolymerization, resulting in products with average molecular weight ranges from 2,000 Da to 8,000 Da. The smaller size allows LMWH drugs to have more predictable pharmacokinetics and pharmacodynamics compared to unfractionated heparin. LMWH has largely replaced standard heparin in various treatment areas such as prevention of deep vein thrombosis in patients undergoing arthroplasty.
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 are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. These players are focusing on getting regulatory approvals for their LMWH drugs in new regions as well as expanding their existing drug portfolios.
The rising prevalence of diseases such as cancer and cardiovascular diseases is boosting the demand for various Low Molecular Weight Heparin Market Demand drugs globally. New formulations including single-use prefilled syringes are being developed to improve patient compliance.
Technological advancements are also helping players develop LMWH biosimilars with improved safety and cost profiles. Key players are investing heavily in developing subcutaneously injectable LMWH formulations to simplify administration.
Market Trends
The market is witnessing a rising trend of combination drug development where LMWHs are being explored along with other anticoagulant and antiplatelet drugs. This is helping expand treatment options for complex conditions. Players are also focusing on investments to develop orally-administrable LMWH formulations to enable self-administration and improve compliance.
Market Opportunities
Emerging economies in Asia Pacific and Latin America offer lucrative opportunities for players due to lack of awareness about LMWH in these regions. Gaining regulatory approvals and conducting educational initiatives can help players tap into these emerging markets. LMWH along with anti-fibrinolytic drugs also offer opportunities for synergistic treatment of conditions such as acute myocardial infarction.
Impact of COVID-19 on Low Molecular Weight Heparin Market Growth
The outbreak of COVID-19 has significantly impacted the growth of low molecular weight heparin market globally. During the initial stages of the pandemic, the market witnessed decline in growth due to lockdowns imposed across various countries. This led to disrupted supply chains and lowered production volumes. However, with elevated risk of blood clots in COVID-19 patients, the demand for anticoagulants like LMWH saw significant rise. Several health agencies and medical practitioners recommended usage of LMWH for treatment and management of hospitalized COVID-19 patients. This fuelled the use of LMWH for prevention as well as treatment of thrombosis in coronavirus infected individuals. Many clinical investigations and trials found positive results of LMWH in reducing mortality among severe COVID-19 cases. With ongoing pandemic and development of new virus variants, the need for effective anticoagulation therapies is expected to continue promoting market growth in coming years.
North America Dominates Low Molecular Weight Heparin Market in Terms of Value
North America currently holds the largest share in the global low molecular weight heparin market in terms of value. This is attributed to factors such as rising prevalence of chronic diseases, growing geriatric population, availability of advanced healthcare facilities, and favorable reimbursement policies. Additionally, presence of major market players, constant new product innovations, and increasing adoption of low molecular heparins for various therapeutic applications support market growth in the region. Asia Pacific is considered the fastest growing regional market and is expected to witness highest CAGR during the forecast period owing to large patient pool, rising healthcare investments, and improving economic conditions.
Germany Emerges as the Fastest Growing Country for Low Molecular Weight Heparin Market
Among countries, Germany is projected to experience fastest growth in the low molecular weight heparin market over the next few years. This is credited to factors such as strong economy, early adoption of advanced medical technologies, increasing focus on research & development activities, growing patient awareness, and favorable government support towards healthcare sector development. Additionally, rising prevalence of chronic conditions, positive clinical evidence on LMWH drugs, and presence of global manufacturing companies further supports market expansion in the country.
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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) Report this page