Middle East Low Molecular Weight Heparin Market to Grow at a CAGR of 4.8% to reach US$ 209.60 Million from 2022 to 2028

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)

Publication Month : Oct 2022

  • Report Code : TIPRE00029731
  • Category : Biotechnology
  • Status : Published
  • No. of Pages : 216
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The Middle East low molecular weight heparin market is expected to grow from US$ 151.15 million in 2021 to US$ 209.60 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028. 

Low molecular weight heparin (LMWH) is a class of anticoagulants. They are used to prevent blood clots and treat venous thromboembolism (deep vein thrombosis and pulmonary embolism) and treat myocardial infarction. LMWHs are defined as heparin salts with an average molecular weight of less than 8,000 Daltons and in which at least 60% of all chains have a molecular weight of less than 8,000 Da. These are obtained by various methods of fractionation or depolymerization of polymeric heparin. Low molecular weight heparin offers advantages over heparin such that it has better bioavailability and longer half-life, simplified dosing, predictable anticoagulant response, and lower risk of osteoporosis.

The report offers insights and in-depth analysis of the Middle East low molecular weight heparin market, emphasizing various parameters, including market trends, technological advancements, market dynamics, and competitive landscape analysis of the Middle East leading market players. It also includes the impact of the COVID-19 pandemic on the market across all regions. The overall COVID-19 impact on the Middle East low molecular weight heparin market is positive; hence, the market is gaining traction and is expected to grow in the coming years. In the past several decades, countries in the Middle East have strengthened their health systems and upgraded public and commercial healthcare. However, the limited availability of resources (including trained staff and medical equipment) and the burden of noncommunicable diseases harm the overall healthcare system in the region. In 2020, the COVID-19 pandemic significantly impacted the delivery and accessibility of social services, education, health and nutrition, healthcare spending, and well-being. Due to the region's dependence on trade and tourism and struggles with substantial youth unemployment, the global crisis led to serious long-term effects on the region. Governments in the Middle East allocated funds to prevent the overburdening of their health systems and decelerate the spread of COVID-19 in 2020; a few countries also emphasized on increasing the number of intensive care units and hospital beds.

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.

Geography-Based Insights

By geography, the Middle East low molecular weight heparin market is segmented into Saudi Arabia, the UAE, Kuwait, Qatar, Lebanon, Bahrain, Oman, Yemen, Iraq, Israel, Jordan, and the Rest of Middle East.

Market Insights

High Prevalence of Cardiovascular Diseases in Middle East Countries

Countries in the Middle East are witnessing a high prevalence of cardiovascular disorders (CVDs) such as venous thromboembolism (VTE), pulmonary embolism (PE), deep vein thrombosis (DVT), coronary heart disease (CHD), and stroke. Owing to the rising demand for treatment associated with these diseases, the low molecular weight heparin market is growing in the UAE, Saudi Arabia, Kuwait, Oman, Qatar, and other Middle East countries. CVD has emerged as a leading cause of morbidity and mortality in the UAE. The Public Library of Science (PLOS) 2020 states that CVD contributes to 40% of all incidence and deaths among young and adults, owing to the increasing burden of abdominal obesity (71.5%), dyslipidemia (74%), hypertension (43%), and diabetes (32.4%) in the UAE. Further, the Al-Azhar Assiut Medical Journal report states that in 2020, the population of Saudi Arabia has a high prevalence of hypertension (~49% population), while 5–6% of the population is diagnosed with CHD. Additionally, the Discovery Publication report 2020 states that PE is a prevalent and major cause of illness in Saudi Arabia. Thus, the high prevalence of CVDs in countries in the Middle East is driving the market.

Furthermore, according to the National Institute of Health (NIH) report, CVD is a major cause of death in Kuwait, as it is responsible for ~46% of mortalities yearly. Additionally, according to the Ministry of Public Health (MoPH) report, CVD is the primary cause of death in Qatar and is considered an economic burden. According to the World Health Organization (WHO), CVD accounts for ~47% and ~27% of all deaths each year in Lebanon and Iraq, respectively. Also, According to World Bank data (2019), CVD is the leading cause of noncommunicable diseases (NCDs) in Bahrain, accounting for ~16% of the deaths in the country. Also, the NIH reported that CHD accounts for ~10.5% of all deaths of people aged 45–60 and 31.5% for those above 65 years in Oman. Thus, the high prevalence of CVDs in the region is driving the Middle East low molecular weight heparin market.

Product-Based Insights

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.

The Middle East Low Molecular Weight Heparin Market, by Product – 2021 and 2028

The Middle East Low Molecular Weight Heparin Market, by Product – 2021 and 2028
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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.

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Middle East Low Molecular Weight Heparin Market: Strategic Insights

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Key players operating in the Middle East low molecular weight heparin market include Teva Pharmaceutical Industries Ltd, Abbott Laboratories, Novartis AG, Sanofi, Pfizer Inc., B. Braun SE, Dr. Reddy's Laboratories, LEO Pharma A/S, Aspen Holdings, and Hikma Pharmaceuticals PLC.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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The List of Companies - Middle East Low Molecular Weight Heparin Market

  1. Teva Pharmaceutical Industries Ltd
  2. Abbott Laboratories
  3. Novartis AG
  4. Sanofi
  5. Pfizer Inc.
  6. B. Braun SE
  7. Dr. Reddy's Laboratories
  8. LEO Pharma A/S
  9. Aspen Holdings
  10. Hikma Pharmaceuticals PLC.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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