Report : Middle East Low Molecular Weight Heparin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Enoxaparin, Dalteparin, Tinzaparin, Fraxiparine, Nadroparin, and Others), Packaging (Multi-Vials and Pre-Filled Syringes), Application (Deep Vein Thrombosis, Acute Coronary Syndrome, Pulmonary Embolism, and Others), End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others)
Enoxaparin Dominated Middle East Low Molecular Weight Heparin Market in 2021
According to our latest study on "Middle East Low Molecular Weight Heparin Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product, Packaging, Application, End User, and Distribution Channel," the market is expected to grow from US$ 151.15 million in 2021 to US$ 209.60 million by 2028; it is expected to grow at a CAGR of 4.8% from 2022 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market.
Based on product, the Middle East low molecular weight heparin market is segmented into enoxaparin, dalteparin, tinzaparin, fraxiparine, nadroparin, and others. The enoxaparin segment held the largest market share in 2021. The dalteparin segment is anticipated to register the highest CAGR in the market during the forecast period.
In terms of packaging, the market is bifurcated into multi-vials and pre-filled syringes. The multi-vials segment held a larger share in 2021. The prefilled syringes segment is anticipated to register a higher CAGR during the forecast period.
Based on application, the Middle East low molecular weight heparin market is segmented into deep vein thrombosis, acute coronary syndrome, pulmonary embolism, and others. The deep vein thrombosis segment led the market in 2021. However, the acute coronary syndrome segment is expected to grow at the highest CAGR during the forecast period.
In terms of end user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment accounted for a maximum share in 2021. However, the clinics segment is expected to grow at the highest CAGR during the forecast period.
Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and others. The hospital pharmacies segment held the maximum share in 2021, and the retail pharmacies segment is expected to grow at the highest CAGR during the forecast period.
The effects of unfractionated heparin (UFH) or standard heparin vary from patient to patient. Therefore, it can only be administered to hospitalized patients under supervision. However, low molecular weight heparins (LMWH) can be subcutaneously administered daily without supervision. In addition, the LMWH has more predictable pharmacokinetic properties than unfractionated heparin, which allows its administration in fixed doses based on laboratory monitoring without needing dose adjustments. Thus, the advantages of low molecular weight heparin over unfractionated heparin will fuel the growth of the Middle East low molecular weight heparin market.
According to the National Institute of Health (NIH) report (2020), low molecular weight heparin utilization was high during the COVID-19 pandemic. In COVID-19-induced acute respiratory distress syndrome, the lungs could not fill with sufficient air, causing hypoxemia and high mortality among hospitalized patients. Therefore, patients with evidently worst clinical presentation were prescribed low molecular weight heparin via a soft mist inhaler dosing 4000 IU per administration twice daily.
Abbott Aspen Holdings; B. Braun Medical, Inc.; Dr. Reddy's Laboratories Limited; Hikma Pharmaceuticals PLC; Leopharma A/S; Novartis AG; Pfizer, Inc.; Sanofi; and Teva Pharmaceutical Industries Ltd. are among the leading companies operating in the Middle East low molecular weight heparin market.
Middle East Low Molecular Weight Heparin Market, by Country, 2021 (%)
Source: Business Market Insights Analysis
Various organic and inorganic strategies are adopted by companies operating in the Middle East low molecular weight heparin market. Organic strategies mainly include product launches and product approvals. Further, acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall market growth. Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few significant developments by key players in the Middle East low molecular weight heparin market are listed below.
In April 2022, Hikma Pharmaceuticals PLC announced the acquisition of Custopharm Hikma, which is the second-largest supplier of generic sterile injectable medicines used by hospitals and health care providers in the US. The combination with Custopharm will enhance Hikma's R&D capabilities and pipeline and expand Hikma's differentiated US portfolio to close to 130 commercialized injectable medicines—a more than fivefold increase over the last decade.
In May 2019, the US Food and Drug Administration (FDA) approved the use of Pfizer's anticoagulant medicine Fragmin (Dalteparin sodium) to minimize the recurrence of symptomatic venous thromboembolism (VTE) in pediatric patients aged one month and above.