Heparin Market Anticipated To Reach USD 9.0 Billion By 2030

 San Francisco, 28 Sep 2022: The Report Heparin Market Size, Share & Trends Analysis Report By Type (Low Molecular Weight Heparin, Unfractionated Heparin), By Route Of Administration, By Application, By End-use, By Source, By Region, And Segment Forecasts, 2022 - 2030

The global heparin market size is expected to reach USD 9.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.4% from 2022 to 2030. The increasing geriatric population and heightened demand for transfusions are key factors propelling the market growth. Moreover, the outbreak of COVID-19 has further propelled the market growth. For instance, as per The Lancet Journal in 2022, the demand for heparin exacerbated attributable to its use in COVID-19 patients for thromboprophylaxis.

Increasing demand for blood components, transfusion, and plasma derivatives in the treatment of infectious diseases is expected to drive the market. For instance, according to American Red Cross in 2022, around 16 million blood components are transfused each year in the U.S. Furthermore, the surge in the number of surgeries that were delayed due to the COVID-19 pandemic has further escalated the demand for heparin for blood-clot prevention.

The growing geriatric population is estimated to fuel the market growth. According to United Nations, it was estimated that, in 2020, there were around 727 million people with ages above 60 years worldwide. In addition, the percentage share of the aged population above 65 years is estimated to increase from 9.3% in 2020 to 16% in 2050. The geriatric population has a higher rate of complex surgeries and thus is anticipated to propel the demand for heparin as an anticoagulant, as this population has a significantly higher rate of developing blood clots and related conditions such as deep vein thrombosis.

The growing number of surgeries is a key factor accelerating the demand for whole blood and transfusions. For instance, the annual number of major surgeries performed globally has reached 310 million, 40 to 50 million surgeries performed in the U.S., and around 20 million were performed in Europe in 2020. These surgeries are projected to escalate the demand for heparin.

The competitive rivalry in the marketplace is expected to be moderate due to changing dynamics towards oral anticoagulants. The involvement of players in discovering novel routes of administration for anticoagulants such as heparin is expected to change the market scenario over the forecast period. The rising number of players offering generics also increases competitive rivalry.

Access Research Report of Heparin Market @ https://www.grandviewresearch.com/industry-analysis/heparin-market

Heparin Market Report Highlights

• The Low Molecular Weight Heparin (LMWH) segment held the largest revenue share in 2021 owing to its high prescription rate and demand
• The subcutaneous route of administration segment held the largest revenue share in 2021 owing to its cost-effective nature and easier procedure for administration
• The coronary artery disease segment dominated the market in 2021 owing to the rising incidence of coronary artery disease and increased use of heparin injection in hospitalized patients
• The outpatient segment is expected to hold the largest revenue share in 2021 owing to the initiatives undertaken by hospitals for outpatient services and the increased preference of patients for outpatient treatment
• Porcine-derived heparin is expected to dominate the market due to its use in the production of low molecular weight heparin
• Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the growing establishment of healthcare, and a large population base

List of Key Players in the Heparin Market

• Pfizer Inc.
• LEO Pharma A/S
• Reddy’s Laboratories Ltd.
• GlaxoSmithKline plc
• Sanofi
• Aspen Holdings
• Fresenius SE & Co. KGaA
• Braun Medical, Inc.
• Sandoz (Novartis AG)

Access Press Release of Heparin Market @ https://www.grandviewresearch.com/press-release/global-heparin-market