Heparin Market Pegged for Robust Expansion by 2024

The Heparin Market in Europe is rather consolidated, with the Sanofi, Aspen, Pfizer, and Leo Pharma accounting for over 65% of the market in 2015. In a new study, Transparency Market Research (TMR) has found that Sanofi is the clear leader in the Europe heparin market, enjoying a 47.5% share in 2015. Increased global sales of Lovenox can be attributed to the company’s success.

“A focus on the expansion of R&D activities, in-licensing and acquisitions, and portfolio management are the key strategies adopted by the market leader,” the author of the study finds. In 2015, the company spent over US$5 bn on the research and development of 18 new medicines and vaccines. Companies in the heparin market in Europe are also emphasizing on key BRIC-M countries, developing market-specific innovations, and prioritizing resource allocation.

The recall of heparin products imported from China in 2008 was a turning point in the heparin market across the globe. The presence of a high level of allergenic substances in heparin products imported from China resulted in over a 100 deaths in the U.S. Tainted supplies were also found in several European countries, forcing the implementation of strict regulations regarding the use of active pharmaceutical ingredients (APIs) produced outside the European Economic Area (EEA).

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“This event spurred the domestic development of crude and API heparin and a number of companies entered the heparin processing business in the years that followed. This has had a significant impact on the growth of the heparin market in Europe,” a lead analyst at TMR comments.

The heparin market in Europe is also fueled by the growing incidence of coagulation disorders such as venous thromboembolism (VTE). “These disorders cause nearly half a million deaths in the region each year, even more than the collective deaths caused by breast and prostate cancer, AIDS, and highway accidents,” the author of the study finds.