Portland, OR, June 08, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Heparin Market was pegged at $6.53 billion in 2020, and is expected to reach $11.01 billion by 2028, growing at a CAGR of 6.6% from 2021 to 2028.
Surge in incidence of venous thromboembolism and cardiovascular disorders, rise in use of heparin in surgical procedures, and increase in geriatric populations drive the growth of the global heparin market. However, side effects associated with heparin and presence of alternative anticoagulants hinder the market growth. On the contrary, availability of synthetic and semi-synthetic heparin mimetics and R&D activities to develop heparin with improved therapeutics are expected to create lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The heparin market witnessed a modest growth during the pandemic due to rise in use of low molecular weight heparin for Covid-19 treatment.
- A large number of patients are suffering from Covid-19 which is linked to respiratory disease. The demand for heparin has increased as it helps to control respiratory inflation and acts as a blood thinner.
The global heparin market is segmented on the basis of product, application, distribution channel, and region. Based on product, the low molecular weight heparin segment held the lion’s share in 2020, accounting for more than four-fifths of the market. Moreover, the segment is expected to register the highest CAGR of 6.9% during the forecast period.
On the basis of application, the venous thromboembolism segment dominated in 2020, contributing to more than two-fifths of the market. However, the coronary artery disease segment is expected to manifest the highest CAGR of 7.3% from 2021 to 2028.
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The global heparin market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is projected to portray the highest CAGR of 7.8% during the forecast period. However, the market across Europe held the largest share in 2020, accounting for nearly half of the market.
The global heparin market includes an in-depth analysis of the prime market players such as B. Braun Holding GmbH & Co. KG, Baxter International Inc., Fresenius SE & Co KGaA, Dr. Reddy’s Laboratories Ltd., Leo Pharma A/S, Hebei Changshan Biochemical Pharmaceutical Co., Ltd., Pfizer Inc., Sanofi S.A, Teva Pharmaceuticals, and Viatris Inc.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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