Heparin Market to Reach $12.92 Billion by 2028, Driven by Cardiovascular Disease Prevalence

The heparin market size has grown strongly in recent years. It will grow from $9.29 billion in 2023 to $9.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased prevalence of cardiovascular diseases, advances in surgical procedures requiring anticoagulation, growth in the aging population, rise in deep vein thrombosis cases, expansion of applications in renal dialysis.

The heparin market size is expected to see strong growth in the next few years. It will grow to $12.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to growing demand for low-molecular-weight heparin, expansion of heparin use in the treatment of cancer, increasing incidence of venous thromboembolism, development of biosynthetic heparin, increase in the number of emerging markets. Major trends in the forecast period include technological advancements in heparin production, emphasis on the production of safer and more bioavailable heparin, integration of digital technologies in heparin administration, adoption of biosimilars, exploration of heparin alternatives and substitutes.

Market Overview -
Heparin refers to an anticoagulant type substance that slows the development of blood clots. Heparin is produced by the liver, lungs, and other human tissues, but it can also be produced in a lab. In order to prevent or dissolve blood clots, heparin may be injected into muscle or blood. Heparin is widely used in hospitals to prevent excessive coagulation during cardiac surgery, extracorporeal circulation, or dialysis.

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Rising Prevalence Of Chronic Diseases Fueling The Heparin Market
The increasing prevalence of chronic diseases is significantly driving the growth of the heparin market. Chronic diseases refer to medical conditions, which last more than one year and require constant medical attention or hospitalization for specialized treatment. The changing lifestyle, eating habits, and inappropriate maintenance of body weight are the reasons for chronic conditions and a few more prolonged chronic infections lead to cancerous risk. Growing exposure to the disease has increased the demand for heparin, as they are widely used to make the blood thin during surgeries and various medical treatments. For instance, in July 2021, according to the International Diabetes Federation (IDF), a Belgium-based diabetes organization, the number of persons with diabetes worldwide is predicted to reach 537 million in 2021, 643 million in 2030, and 783 million in 2045. In addition, it was anticipated that 541 million people would have impaired glucose tolerance by 2021. Additionally, it is anticipated that in 2021, nearly 6.7 million people between the ages of 20 and 79 will pass away due to complications from diabetes. Therefore, the increasing prevalence of chronic diseases will drive the growth of the heparin market.

Competitive Landscape -
Major companies operating in the heparin market report are Baxter International Inc., B. Braun Medical Inc., Dr. Reddy's Laboratories Ltd., Fresenius SE & Co. KGaA, Leo Pharma A/S, Aspen Pharmacare plc, Bioiberica SA, Biovet SA, Changzhou Qianhong Bio-pharma Co. Ltd., CSPC NBP Pharmaceutical Co. Ltd., Gelita Medical AG, Intas Pharmaceuticals Ltd., Nanjing King-friend Biochemical Pharmaceutical Co. Ltd., Opocrin Pharmaceuticals Ltd., Pfizer Inc., Pharma Action Ltd., Rovi Pharma Industrial Services Ltd., Sagent Pharmaceuticals Inc., Sanofi S. A., Shenzhen Hepalink Pharmaceutical Co. Ltd., Sichuan Deebio Pharmaceutical Co. Ltd., Teva Pharmaceuticals Industries Ltd., VAV Life Sciences Inc., Viatris Inc., Wanbang Biopharmaceuticals Co. Ltd., Wockhardt Ltd., Xinbai Pharmaceuticals Co. Ltd., Yino Pharma Co. Ltd., TEGA Therapeutics Inc.

Product Advancements Driving Growth In The Heparin Market
Product advancement is a key trend gaining popularity in the heparin market. Key players and their research wings are increasingly focusing on developing an advanced and improved heparin or heparin prefilled syringe with precision and convenience to increase their business reach and presence across the globe. For instance, in April 2021, Fresenius Kabi USA, a US-based healthcare company, launched Freeflex IV bags. These are low-concentration sodium heparin in ready-to-use sodium chloride injection. These bags consist of 1,000 USP units of sodium heparin in a 500 mL infusion bag with 0.9% sodium chloride and 2,000 USP units of sodium heparin in a 1,000 mL infusion bag with 0.9% sodium chloride. simple, These heparin bags help reduce medication errors and guarantee patient safety.

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Key Segments -
The heparin market covered in this report is segmented -
1) By Product: Unfractionated Heparin, Low Molecular Weight Heparin (LMWH), Ultra-Low Molecular Weight Heparin (ULMWH)
2) By Source: Bovine, Porcine
3) By Route of Administration: Intravenous, Subcutaneous
4) By Application: Venous Thromboembolism, Atrial Fibrillation, Renal Impairment, Coronary Artery Disease, Other Applications
5) By Distribution Channel: Hospital Pharmacies, Drug Stores & Retail Pharmacies, Online Pharmacies

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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