Heparin Market - Growth, Trends, and Forecasts (2020 - 2025)
NEW YORK, June 2, 2020 /PRNewswire/ -- Heparin is a medication and naturally occurring glycosaminoglycan, which is used as an anticoagulant (blood thinner). Specifically,it is also used in the treatment of heart attacks and unstable angina. It is usually given by injection into a vein or under the skin or in oral for in some cases.
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Due to the 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. As a result, the demand of heparin has increased. Moreover, geriatric population is more prone to such chronic diseases, and hence, increasing geriatric population is also increasing the demand for these surgeries. These factors have helped the growth if the market.
However, side-effects of heparin are refraining the patients from its use. This is restraining the market growth.
Key Market Trends
Deep Vein Thrombosis (DVT) is expected to dominate the market
A deep-vein thrombosis (DVT) is a blood clot that forms within the deep veins, usually of the leg, but can occur in the veins of the arms and the mesenteric and cerebral veins. DVT is a major medical problem accounting for most cases of pulmonary embolism (PE). According to the CDC 2018 Data, there were around 60,000-100,000 Americans that die due to DVT/PE (also called venous thromboembolism).
Heparin is generally used for anticoagulation for the following conditions including Acute coronary syndrome, Atrial fibrillation, etc. These disorders are linked to several forms of cardiovascular disease like high blood pressure, coronary artery disease, hypertrophic cardiomyopathy (HCM), pericarditis, congenital heart disease, and previous heart surgery. Moreover, cardiovascular disease is the leading global cause of death, accounting for more than 17.6 million deaths per year in 2016, a number that is expected to grow to more than 23.6 million by 2030, which is expected to drive the market growth.
North America is Expected to Dominate the Market
According to Population Reference Bureau Fact sheet, the number of Americans above 65 years of age is projected to nearly double from 52 million in 2018 to 95 million by 2060, and the 65-and-older age group's share of the total population will rise from 16 percent to 23 percent, which shows a positive impact on the heparin market, as geriatric population is more prone to chronic diseases.
Morover, United States (US) and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the US and Canada. As a result, these countries enjoy the presence of many global market players. As high and increasing demand is met by the presence of global players in the region, the heparin market is further expected to increase.
Competitive Landscape
Heparin market is inclusive of interntaional companies as well as local players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness. This has also helped the market grow.
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