Hirudin Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[227+ Pages Report] According to the report published by Facts Factors, the global hirudin market size was worth around USD 3908.9 million in 2021 and is predicted to grow to around USD 4575.60 million by 2028 with a compound annual growth rate (CAGR) of roughly 2.7% between 2022 and 2028. The report analyzes the global hirudin market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the hirudin market.

Market Overview

Hirudin is a peptide, a short chain of amino acids interlinked by peptide bonds, and occurs in the saliva-producing exocrine gland of blood-sucking parasites called leeches, which are predatory worms classified under Hirudinea. The peptide has blood anticoagulant properties which means that it can either reduce or prevent coagulation of blood, and is also known as a blood thinner. The fundamental nature of leeches to survive on blood allows constant blood flow in the hosts’ body from the initial puncture made in the skin by the parasite. Hirudin is also classified in the superfamily of protease inhibitors (PIs) which refers to medications that work by interfering with protein cleaving enzymes. Since extraction of large amounts of hirudin through natural sources is extremely difficult, an artificial process involving recombinant biotechnology has been developed by researchers and scholars. With this, the product has found wide application in the medical sector and is used extensively for anticoagulation under different products like bivalirudin, lepirudin, and others.

Key Insights

• As per the analysis shared by our research analyst, the global hirudin market is estimated to grow annually at a CAGR of around 2.7% over the forecast period (2022-2028).
• In terms of revenue, the global hirudin market size was valued at around USD 3908.9 million in 2021 and is projected to reach USD 3908.9 million, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on type segmentation, recombinant hirudin was predicted to show maximum market share in the year 2021
• Based on application segmentation, deep vein thrombosis was the leading application in 2021.
• On the basis of region, North America was the leading revenue generator in 2021

Covid-19 Impact

The global market cap received a positive push during the pandemic since the demand for anticoagulatory products increased by multiple folds during the peak of the virus. As per the data published by the National Library of Medicine, before Covid-19, the average annual demand for anticoagulation products increased by 6%, however, after the declaration of the pandemic, the demand for the products increased even further.

Growth Drivers

• Increasing use in the pharmaceutical segment to create more revenue

The global hirudin market is projected to grow owing to the increasing applications of the anticoagulation peptide in the pharmaceutical industry. The product is used extensively in the medical industry during operational procedures and to treat various conditions that could cause the blood to coagulate. The growing number of patients requiring operations for various reasons as well as an increasing population of people suffering from stroke is projected to propel the demand for hirudin in the coming years. As per the Centers for Disease Control and Prevention, more than 7,95,000 American citizens suffer from stroke every year. Following the same report, 1 in every 6 deaths was related to cardiovascular diseases (CVDs) in the year 2020. The numbers indicate how common the disease is along with a high quotient of criticality.

Restraints

• Difficulty in extracting large amounts of natural hirudin to restrict market expansion

The global market size is expected to witness restricted growth since it is extremely difficult to procure the peptide in large quantities from its natural form resulting in the use of advanced technology to create recombinant hirudin which results in an increased investment cost to use the product. The process of extracting hirudin naturally is also tedious causing pharmaceutical companies to look for easily available substitutes.

Opportunities

• Growing use of desirudin to provide excellent expansion opportunities

A published article about hirudin on ScienceDirect claimed that desirudin can effectively treat thrombocytopenia induced by heparin, which is a serious case of adverse reaction to a certain drug resulting from antibodies emergence which causes platelet activation in the presence of traces of heparin. Since desirudin can be used to treat serious medical conditions, it is gaining extreme popularity in the medical sector. Such applications can help the global hirudin market cap to grow further.

Challenges

• Issues concerning the use amongst patients with renal dysfunction to challenge market growth trend

As per research studies, it is recommended that hirudin should not be given to patients suffering from renal dysfunction without the presence of careful monitoring. People with contraindications to anticoagulants may face severe side effects if the peptide is used without proper tests and authorization. Such sensitive matters pose challenges for global market expansion.

Segmentation Analysis

The global hirudin market is segmented based on application, type, and region.

Based on application, the global market segments are cerebral thrombosis, myocardial thrombosis, skin hematomas, deep vein thrombosis, stroke, and application cream. The global market is dominated by the deep vein thrombosis segment, which refers to the formation of a blood clot in a single or multiple bodily deep veins, mostly concentrated in the legs. As per research, around 33% of the people diagnosed with deep vein thrombosis are known to suffer from long-term complications like pain, swelling, scaling, or discoloration of the infected area.

Based on type, the global market is divided into recombinant hirudin and natural hirudin. The global market generated the highest revenue from the recombinant hirudin segment owing to the difficulty in procuring the anticoagulant from its natural state. As per Statista, the United States government spent around USD 7.7 billion on the development of biotechnology, which is projected to grow even further in the coming years as the demand for more bio-research grows.

Recent Developments:

• In August 2022, Merck & Co., an American multinational pharmaceutical giant, announced that it had received approval from the US Food and Drug Administration (FDA) for its revolutionary investigational anticoagulant therapy called MK-2060. The therapy is projected to help reduce the risk of critical thrombotic cardiovascular events in patients suffering from the last stage of renal disease.
• In December 2020, NATCO Pharma Limited announced the launch of RPIGAT, a Rivoraxaban molecule for the Indian market. The product is an anticoagulant medicine that will be used for the treatment of blood clots. Rivaroxaban was, at the time, sold under the brand name Xarelto by Bayer.

Report Scope

Regional Analysis

• North America to dominate with the highest regional market share

The global hirudin market is projected to be dominated by North America, especially driven by the excellent research & development facilities located in the United States that are extremely well funded and equipped with state-of-the-art technology. The increasing efforts by the US government aided by undertakings of the private companies and pharmaceutical giants to upgrade the country's biotechnology arm is projected to help the region generate high revenue in the coming years. As per the Congressional Budget Office, the pharmaceutical segment of the US devoted over USD 83 billion purely for R & D activities, in 2019. The activities covered include new drug development, product extension, and innovation along with clinical testing for safer drug use. Asia-Pacific may also generate high revenue driven by the growing pharmaceutical industry of China and India. The former region is currently just behind the US in terms of the world's leading economy. The research wing of the Chinese healthcare and pharmaceutical sector is known to receive heavy investments as well as essential support from government agencies. The growing population of the region along with the demand for better healthcare is projected to drive the use of hirudin in the coming years.

Competitive Analysis

• Bristol-Myers Squibb Company 
• Bayer Healthcare AG 
• GlaxoSmithKline Plc. 
• Aspen Holdings 
• Teva Pharmaceutical Industries Ltd. 
• Pfizer Inc.

The global hirudin market is segmented as follows:

By Application

• Cerebral Thrombosis
• Myocardial Thrombosis
• Skin Hematomas
• Stroke
• Deep Vein Thrombosis
• Application Cream

By Type

• Recombinant Hirudin
• Natural Hirudin

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America