Heparin Market
Number of pages: 100 | Report Format: PDF | Published date: January 18, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 9.1 billion |
|
Revenue Forecast in 2030 |
US$ 12.18 billion |
|
CAGR |
3.30% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Product Type, Source, Application, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global heparin market was valued at US$ 9.1 billion in 2021 and is expected to register a revenue CAGR of 3.30% to reach US$ 12.18 billion by 2030.
Heparin Market Fundamentals
Heparin is an anticoagulant to prevent thrombosis and treat several illnesses, such as pulmonary embolism and atrial fibrillation. It is used to prevent blood clots in patients with certain medical disorders or undergoing specific medical procedures that increase the risk of blood clot development. While heparin prevents blood clots from blood arteries, it cannot reduce the size of clots that have already developed. In angioplasty and angiography, heparin is used to prevent the development of blood clots in catheters.
Heparin Market Dynamics
The global heparin market is driven by the increasing prevalence of cardiovascular diseases, such as heart attack, coronary artery diseases, & cardiac arrest, and chronic diseases, such as antiphospholipid syndrome, deep vein thrombosis, and pulmonary embolism. Additionally, increasing investment in R&D activities, rising usage of heparin in surgical procedures, and growing numbers of key players are contributing to the revenue growth of the global heparin market. Moreover, increasing demand for plasma to treat several medical conditions is also fueling the revenue growth of the global heparin market.
However, the shortage of raw materials and high cost of heparin are likely to restrain the revenue growth of the global heparin market in the next few years.
Heparin Market Ecosystem
The global heparin market is analyzed based on five parameters: product type, source, application, end user, and region.
Heparin Market by Product Type
Based on the product type, the global heparin market is segmented into low molecular weight heparin (LMWH) and unfractionated heparin (UFH).
The low molecular weight heparin (LMWH) segment leads the global heparin market in terms of revenue share. This product type provides a high therapeutic dose, improved bioavailability, and a longer half-life. Additionally, this can be administered subcutaneously with high safety and less toxicity. These advantages of the product are projected to drive high revenue growth in the segment.
Heparin Market by Source
Based on the source, the global heparin market is segmented into porcine and bovine.
The porcine segment dominates the global heparin market. This is attributed to the increasing usage of porcine in the production of low molecular weight heparin. Moreover, it is the only permitted version derived from an animal-based source in many key market regions. These factors are expected to contribute to significant revenue growth of this segment.
Heparin Market by Application
Based on the application, the global heparin market is segmented into heart attacks, stroke, deep vein thrombosis & pulmonary embolism, atrial fibrillation, and others.
The heart attack segment dominates the global heparin market in terms of revenue share. This can be attributed to increasing prevalence of cardiovascular diseases and rising cases of heart attacks across developed and developing countries. Additionally, the high therapeutic effect of heparin in cardiovascular disease management is also contributing to the revenue growth of the global heparin market. According to the Centers for Disease Control and Prevention (CDC), heart disease is the leading cause of death in people from the majority of racial and ethnic groups in the U.S. Cardiovascular disease claims one life in the U.S. every 34 seconds and claimed the lives of almost 697,000 individuals in 2020.
Heparin Market by End User
Based on the end user, the global heparin market is segmented into hospitals & ASCs, clinics, and others.
The hospitals & ASCs segment dominates the global heparin market in terms of revenue share due to the increasing prevalence of cardiovascular and chronic diseases. Additionally, rising patient footfall for diagnosis and treatment in hospitals contributes to a significant rise in the revenue share of the segment to some extent.
Heparin Market by Region
Based on the region, the global heparin market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America accounts for the largest revenue share in the global heparin market. This can be attributed to increasing demand for surgical procedures and rising prevalence of cardiovascular disease in the region. The advanced healthcare system and rapid adoption of technological advancements also contribute to the significant rise in the revenue share of the North America market.
Heparin Market Competitive Landscape
The prominent players operating in the global heparin market are:
Heparin Market Strategic Developments
North America and Asia Pacific are the key growth regions in the global heparin market.
Increasing prevalence of cardiovascular diseases, growing numbers of key players, and rising demand for surgical procedures are the key factors driving the global heparin market in terms of revenue growth.
The expected revenue CAGR of the global heparin market is 3.30 % during the forecast period from 2022 to 2030.
The estimated market size of the global heparin market is US$ 12.18 billion in 2030.
Opocrin S.p.A., Baxter, Pfizer Inc., Bioiberica S.A.U., and Fresenius SE & Co. KGaA are among the key players operating in the global heparin market
*Insights on financial performance are subject to the availability of information in the public domains*