Increase in prevalence of venous thromboembolism and cardiovascular diseases, surge in usage of heparin in surgical procedures, and rise in geriatric populations have boosted the growth of the global heparin market.
PORTLAND, Ore., June 14, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Heparin Market by Product (Unfractionated Heparin, Low Molecular Weight Heparin (LMWH), and Ultra-Low Molecular Weight Heparin (ULMWH)), Application (Venous Thromboembolism, Coronary Artery Disease, Atrial Fibrillation, and Others), and Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2021–2028". As per the report, the global heparin market generated $6.53 billion in 2020, and would garner $11.01 billion by 2028, registering at a CAGR of 6.6% from 2021 to 2028.
Increase in prevalence of venous thromboembolism and cardiovascular diseases, surge in usage of heparin in surgical procedures, and rise in geriatric populations have boosted the growth of the global heparin market. However, presence of alternative anticoagulants and side effects associated with heparin hamper the market growth. On the other hand, R&D activities to develop heparin with improved therapeutics and availability of synthetic and semi-synthetic heparin mimetics would open new opportunities in the coming years.
The heparin market observed a modest growth during the Covid-19 pandemic owing to increased use of low molecular weight heparin for treatment of infected patients.
As large number of patients are suffering from Covid-19, the demand for heparin has increased to control respiratory inflation and thin blood of patients.
The venous thromboembolism segment held the lion's share
By product, the low molecular weight heparin segment dominated the market in terms of revenue in 2020, contributing to more than four-fifths of the market. In addition, the segment is projected to portray the highest CAGR of 6.9% during the forecast period, owing to longer and more predictable activity than UFH and increase in use of LMWH for treatment of venous thromboembolism.
The Coronary artery disease segment to manifest the highest CAGR through 2028
By of application, the coronary artery disease segment is anticipated to register the highest CAGR of 7.3% during the forecast period, due to rise in prevalence of coronary artery diseases because of high blood pressure, smoking, diabetes, lack of exercise, obesity, high blood cholesterol, poor diet, depression, and excessive alcohol consumption. However, the venous thromboembolism segment held the largest share in 2020, accounting for more than two-fifths of the market, owing to rise in prevalence of thromboembolic disorders as a result of extended hospital stays, alcohol intake, smoking, cancer chemotherapy, and pregnancy.
Europe held the largest share
However, Europe held the lion's share in 2020, contributing to nearly half of the market, owing to rise in the geriatric population and increase in prevalence of long-term survivors of acute myocardial infarction, (AMI). However, Asia-Pacific is expected to register the highest CAGR of 7.8% from 2021 to 2028, due to constantly expanding healthcare infrastructure and rise in initiatives by private and public organizations.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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