The global ”heparin“ market size is expected to reach USD 11.43 billion by 2027, exhibiting a CAGR of 3.9% during the forecast period. The increasing cases of cardiovascular diseases such as deep vein thrombosis pulmonary embolism are expected to spur demand for heparin in the forthcoming years, states Fortune Business Insights, in a report, titled “Heparin Market Size, Share Industry Analysis, By Product Type (Unfractionated Heparin (UFH), and Low Molecular Weight Heparin (LMWH)), By Source (Bovine, and Porcine), By Application (Deep Vein Thrombosis Pulmonary Embolism, Atrial Fibrillation, Heart Attacks, Stroke, and Others), By Route of Administration (Intravenous Infusion, and Subcutaneous Injection), By End User (Hospitals ASCs, Clinics, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 8.39 billion in 2019.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The report on theheparin marketreveals:
- Prominent insights into the industry
- Noteworthy data about major companies
- Emerging trends and drivers
- Comprehensive analysis of the segments
- COVID-19 effect on the industry
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Rising Incidence ofChronic Disorders to Incite Business Development
The increasing prevalence of cardiovascular diseases around the world, including heart attacks and strokes will spur opportunities for the market. As per the American Heart Association (AHA) Heart Disease and Stroke Statistics, an estimated 5.3 million Americans suffered from atrial fibrillation in 2019. The growing demand for heparin among patients can have an excellent impact on the market. As per the Centers for Disease Control and Prevention, coronary heart disease is the most common type of heart disease, killing 365,914 people in 2017.4. About 18.2 million adults age 20 and older have CAD (about 6.7%). Moreover, 2 in 10 deaths from CAD happen in adults less than 65 years old. The increasing awareness about the benefits of heparin in the treatment and management of heart diseases will improve the prospects of the market in the foreseeable future.
Minimal Impact on the Market During COVID-19
The limitations on non-essential medical procedures and consultations has had a drastic impact on the global market amid COVID-19. The healthcare industry has observed a decline in other medical services besides coronavirus. The increased emphasis on COVID’s vaccine has reduced the demand for other therapeutics. Furthermore, the lack of supply and production of heparin will simultaneously limit the scope of the market. However, government initiatives, including heavy investments and free medical aid will influence the healthy growth of the market in the time of the pandemic.
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High Adoption of Advanced Products to Boost Market in North America
The market size in North America stood at USD 4.28 billion in 2019. The growth in the region is attributed to the prevalence of cardiovascular diseases such as pulmonary embolism. The higher adoption of advanced heparin products will have an excellent effect on the market in the region. The increasing healthcare expenditure is expected to foster the healthy growth of the market in North America. The presence of major companies can further enhance the development of the market in the region. Europe is expected to hold the largest share owing to the acceptance of technologically advanced products in the region. The rising number of patients suffering from a range of cardiovascular diseases will further spur opportunities in the region. Asia Pacific is expected to experience a rapid growth rate owing to the growing patient population. The surging healthcare expenditure in the developing nations will have a tremendous effect on the market in Asia Pacific.
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May 2019: Pfizer, Inc. announced that it has received the approval from the U.S. FDA for the administration of its heparin product offering, Fragmin to minimize the recurrence of symptomatic venous thromboembolism (VTE) in pediatric patients aged one month and above.
The Report Lists the Key Companies in the Heparin Market:
- Opocrin S.p.A. (Formigine, Italy)
- Baxter (Deerfield, U.S.)
- Pfizer Inc. (New York, U.S.)
- Bioiberica S.A.U. (Barcelona, Spain)
- Fresenius SE Co. KGaA (Bad Homburg, Germany)
- Hebei Changshan Biochemical Pharmaceutical Co., Ltd. (Shijiazhuang, China)
- Braun Melsungen AG (Melsungen, Germany)
- Reddy’s Laboratories Ltd. (Hyderabad, India)
- LEO Pharma A/S (Ballerup, Denmark)
- Aspen Holdings (Durban, South Africa)
- Other Players
Table Of Content :
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- New Product Launches
- Prevalence of Key Cardiovascular Diseases, By Key Countries
- China Heparin Market Overview
- Blood Clots: Stats Facts
- Overview of Technological Advancements in Heparin
- Impact of COVID-19 on the Global Heparin Market
- Regulatory Scenario by Key Countries
- Reimbursement Scenario by Key Countries
- Trends of Heparin Consumption in Muslim-oriented Markets
- Insights on Usage of Unfractionated Heparin (UFH) Low Molecular Weight Heparin (LMWH)
- China Heparin Market Overview (Production/ Supply Impacted by Swine Fever, etc.)
- Purchasing Process – Heparin
- Pricing of Heparin