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Heparin Market is Expected to Accumulate Revenues Worth US$16.3 Billion by 2025 - TMR
ALBANY, New York, Aug. 14, 2019 /PRNewswire/ -- The global Heparin Market is prognosticated to witness a substantial growth at 6.2% of CAGR over the forecast period 2017 to 2025, finds the forthcoming report by Transparency Market Research (TMR).
The global heparin market registered revenue worth US$ 10.1 bn in 2017 and it is foretold to stand tall at an estimated value of US$ 16.3 bn by 2025. Rising occurrence of venous thrombosis due to various underlying factors such as cardiovascular diseases are expected to boost the sales of heparin. As a result, the global heparin market is expected to grow at a healthy rate.
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Rising Number of Surgeries to Strengthen Heparin Market
The number of patients undergoing surgeries is many and major surgeries such as orthopedic, heart surgeries may need heparin to prevent life threatening deep vein thrombosis. This is expected to surge the global heparin market during the forecast period.
Patients who are already on anticoagulants such as warfarin are asked to stop the use few days before the surgery. Instead they are put on heparin which is a mild anticoagulant to prevent excessive bleeding. This could lead to the expansion of the heparin market. However, it is important to note that even heparin is stopped few hours before the surgery and restarted a couple of hours after the surgery. This is a common practice that the surgeons follow in heart patients or patients requiring continuous anticoagulants. This may lead to substantial growth of the global heparin market.
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Heparin is also used in orthopedic surgeries, this is because whether the patient has heart issues or not, these surgeries lead to immobility for a longer time. Surgeries such as knee replacements, hip replacements, any kind of arthoplasty where the patient lies idle for a few days are administered heparin to prevent deep vein thrombosis. It is only stopped when the patient regains full mobility after a couple of months. These factors might aid in the grand growth of the global heparin market.
According to the new study, on an average 340,000 Coronary Artery Bypass Grafting are done in the U.S. alone. Also, the study states that 1.6 million knee and hip replacements took place in 2017, in the U. S. These figures are a positive sign that indicate a grand growth in the global heparin market in the upcoming years.
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Heparin is not advised to patients undergoing neurosurgery due to the fear of postoperative complications, which may hinder the growth of the global heparin market over the forecast period. Nonetheless, the use of heparin during blood transfusion and blood sampling may boost the global heparin market in the upcoming years.
North America to Intensify Global Heparin Market
North America leads the heparin market and is expected to continue its dominance over the global heparin market during the forecast period. The growth can be due to increasing geriatric population, rising number of venous thrombosis disorder, and growing number of heart surgeries.
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Asia Pacific is expected to emerge as a lucrative market over the forecast period. This is because of increasing population with venous thrombosis and pulmonary embolism (PE). Deep vein thrombosis is becoming common in Asia Pacific, especially in India. According to national institute of health DVT without PE, DVT with PE, and PE alone constitute 64% in all. This could result in the increased sales of heparin in the global heparin market.
A few major players in the global heparin market include LEO Pharma A/S, Dr. Reddy's Laboratories Ltd., Sanofi, Pfizer, Inc., Aspen, Baxter International Inc., and Syntex S.A.
This review is based on the findings of a TMR report titled, "Heparin Market (Product - Unfractionated Heparin (UFH), Low Molecular Weight Heparin (LMWH), and Ultra-low Molecular Weight Heparin (ULMWH); Source - Bovine and Porcine; Formulation - Oral and Parenteral)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017- 2025."
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