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Heparin Market anticipated to grow at a CAGR of 7.19% during the forecast period 2020-2025

22 day(s) ago

Heparin Market size is valued at $10.86 Billion by 2019, and is anticipated to grow at a CAGR of 7.19% during the forecast period 2020-2025. The Heparin Market growth rate is attributed to the increasing incidences of coagulation disorders, substantial growth in the number of the people suffering from diseases like venous thromboembolism and heart diseases. is used to prevent formation of blood clots caused by certain medical conditions or medical procedures. It is used in the treatment for various health conditions such as acute coronary syndrome, deep-vein thrombosis, pulmonary embolism, atrial fibrillation, and is also used during heart surgery for carrying out cardiopulmonary bypass as well as hemofiltration. From increasing incidence of venous thromboembolism and cardiovascular disorders Increasing incidence of venous thromboembolism and cardiovascular disorders to increase in government funding toward improving healthcare facilities and extensive research and development (R&D) activities to develop heparin with improved therapeutic potential and minimal side-effects is anticipated to propel the Heparin Market during the forecast period 2020-2025.   

Key Takeaways
  • North America dominated the Heparin Market with a share of 39% in the year 2019.        
  • The factors such as increase in mortality and prevalence of chronic diseases like cardiovascular disorders as heparin acts as an anticoagulant that prevents the formation of blood clots, it is used before surgery to reduce the risk of in the veins, arteries, or lungs are amongst the major factor projected to impel growth of Heparin Market.
  • Improving healthcare infrastructure, higher healthcare expenditure levels, high patient awareness are the key factors owing to the growth in the segment during forecast period 2020-2025.
Route of Administration - Segment Analysis
 
Parenteral Administration segment held the largest share in the market owing to less cost associated with hospitalization. Also this method is preferred over oral mode owing to ease of administration, rising preference for home care and reduced duration of treatment. Moreover, the associated benefits of this route of administration includes low risk of systemic infection and improved quality of life.
 
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Application Type- Segment Analysis
 
On the basis of Application type, deep vein thrombosis segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 7.1%. The reason is set to be attributed to the increasing awareness of thrombosis such as pulmonary embolism (PE) and deep vein thrombosis (DVT). Increasing prevalence and incidence of heart-related disorders is anticipated to further expand the consumption rate over the projection period of 2020-2025. 
 
By Geography - Segment Analysis
 
North America dominated the Heparin Market with a share of 39% in 2019. North America remains the largest market owing to the growing awareness among consumers, constant improving healthcare infrastructure, presence of untapped opportunities, economic development, and rising initiatives by private and public organizations continues to expand its market. According to a report published in the American Heart Association, in 2018, around 92.1 million American adults were suffering from some form of cardiovascular disease. In addition, around 1 in every 3 deaths are caused by cardiovascular disease in the U.S. accounting for around 2,300 deaths per day. High initial capital investment on infrastructure, government funding toward improving healthcare facilities and extensive research and development (R&D) activities to develop heparin with improved therapeutic potential are to cater the Heparin Market in the forecast period of 2020-2025.
 
Acquisitions/Product Launches
  • In March, 2019 Bioiberica's Business Unit participated in DCAT 2019 with the objective of establishing strategic alliances and find new business opportunities by the help of these conferences in the US market.

Source : https://analyticalmarketreports.blogspot.com/2021/03/Heparin-Market.html

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