The new report by Expert Market Research titled, ‘Global Heparin Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global heparin market, assessing the market based on its segments like application, route of administration, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028):
• Forecast CAGR (2022-2028): 2.3%
The rise in the prevalence of venous thrombosis and cardiovascular illnesses is fueling the worldwide heparin market’s expansion. Furthermore, the use of heparin in a variety of surgeries, including as orthopedic and heart surgeries, as well as an increase in the number of patients undergoing such procedures, are driving the heparin market forward.
Furthermore, the availability of synthetic and semi-synthetic heparin uses in the treatment of cancer, coagulation, and inflammatory illnesses are predicted to make heparin adoption profitable.
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Increased government funding for healthcare infrastructure improvements, as well as thorough R&D initiatives to develop heparin with higher therapeutic potential and minimal side effects, are all driving the heparin industry forward. However, various negative side effects associated with heparin, as well as the presence of competing anticoagulants on the market, may limit the heparin industry’s expansion.
Industry Definition and Major Segments
Heparin is a drug that prevents blood clots from developing in the arteries and is used to treat heart issues and unstable angina. It’s used in post-surgery treatment, dialysis, and blood transfusions, among other things. To break up clots and maintain blood flowing freely, heparin is injected directly into the muscle or veins.
The heparin industry can be divided based on its application sectors as:
• Venous Thromboembolism
• Atrial Fibrillation
• Renal Impairment
• Coronary Artery Disease
The heparin industry is classified based on its route of administration into:
The heparin industry can be bifurcated based on its end-use as:
Based on region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Heparin market value is increasing due to an increase in the occurrence of pulmonary embolism and venous thromboembolism. Heparin is an injectable anticoagulant that is used to prevent blood clots in the veins and arteries during surgical procedures. Other than that, it’s used to treat blood coagulation issues. Pulmonary embolism, venous thromboembolism, and arterial thromboembolism are all treated and diagnosed with this drug. Unfractionated heparin is another name for heparin. Heparin is a blood thinner made from the tissues of killed animals. The rise in demand for heparin is due to an increase in the frequency of accidents and medical surgeries.
In addition, as diseases such as cardiovascular disease become more prevalent, the demand for heparin will increase. The market demand is predicted to be boosted by an increase in spending to upgrade healthcare infrastructure, as well as increased patient awareness. The market’s growth rate will also be aided by research and development capabilities. Government regulations governing the approval procedure will stymie industry growth. In the long run, increased competition will offer a significant obstacle to market expansion. Heparin’s side effects will also make patients reluctant to use it on themselves. North America is projected to play a significant role in the heparin market’s expansion.
Heparin was extensively explored for the treatment of COVID-19 during the COVID-19 scenario, which boosted the market growth. According to a statement from Rensselaer Polytechnic Institute researchers, US heparin can successfully kill the covid-19 virus. Such research is predicted to have a favorable impact on market growth. The increasing burden of diseases, coupled with the rising elderly population and the rising number of approvals, is likely to fuel market expansion in the United States.
Key Market Players
The major players in the market are GlaxoSmithKline plc (GSK), Pfizer Inc. [NYSE: PFE], LeoPharma A/S, Sanofi, Dr. Reddy’s Laboratories Ltd., Aspen Holdings, B. Braun Medical Inc. [B. Braun Melsungen], Fresenius SE & Co. KGaA, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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