The global Heparin Market size is expected to reach USD 9.04 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.5% 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.
Related Press
Release@ Heparin Market Report
Heparin Market Report Highlights
- The Low
Molecular Weight Heparin (LMWH) segment held the largest revenue share in
2022 owing to its high prescription rate and demand
- The
subcutaneous route of administration segment held the largest revenue
share in 2022 owing to its cost-effective nature and easier procedure for
administration
- The coronary
artery disease segment dominated the market in 2022 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 2022
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
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