The North America Heparin Market would witness market growth of 5.8% CAGR during the forecast period (2021-2027).
The chemical formula of heparin is C12H19NO20S3 and it refers to a sulfur-containing polysaccharide, naturally produced in the human body. It behaves as an anticoagulant which means a blood-thinning chemical. It doesn’t allow the formation of blood clots in blood vessels. Thus, it is used in the treatment of heart conditions and unstable angina. Heparin is also administered post-surgeries, and during dialysis, & blood transfusion. By its chemical reactions, it breaks up clots and maintains the fluidity of the blood. Also, there are some side-effects of using heparin such as easy bruising and redness & itchy skin. Heparin acts as a blood thinner. Chemically, it is a disaccharide anticoagulant compound that eliminates the formation of blood clots. It is produced by mast cells and basophils.
There are increasing incidences of cardiovascular diseases across the world, including heart attacks and strokes which will create opportunities for the market players. According to American Heart Association (AHA) Heart Disease and Stroke Statistics, it is estimated that in 2019, more than 5.3 million Americans suffered from atrial fibrillation. The increasing demand for heparin among cardiac patients will further drive the heparin market.
According to the factsheet of the Population Reference Bureau, the number of Americans aging 65 years or more is likely to get double by the end of 2060. So, the older age group in the total population is expected to increase from 16% to 23%. The geriatric population is at greater risk of chronic diseases. It is expected to have a positive impact on the heparin market. The increasing cases of sports injury and cardiovascular disorders are boosting the demand for heparin in the USA. Moreover, high patient awareness and sophisticated healthcare infrastructure in North America are some of the factors that can be attributed to the growth of the market in this region. Also, the prevalence of cardiovascular diseases including pulmonary embolism is high among the geriatric population of the USA. Thus, there is higher adoption of advanced heparin products in this region which is expected to drive the growth of the heparin market during the forecast period.
The US market dominated the North America Unfractionated Heparin Market by Country 2020, thereby, achieving a market value of $466.7 million by 2027. The Canada market is experiencing a CAGR of 7.5% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 6.6% during (2021 - 2027).
Based on Type, the market is segmented into Low Molecular Weight Heparin, Unfractionated Heparin and Ultra-low Molecular Weight Heparin. Based on Application, the market is segmented into Atrial Fibrillation, Coronary Artery Disease, Venous Thromboembolism, Renal Impairment and Other Applications. Based on Route of Administration, the market is segmented into Subcutaneous and Intravenous. Based on End Use, the market is segmented into Outpatient and Inpatient. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Heparin Market is Estimated to Reach USD 10 Billion by 2027 at a CAGR of 6.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Baxter International, Inc., B. Braun Melsungen AG, Fresenius SE & Co. KGaA, Pfizer, Inc., Sanofi S.A., Teva Pharmaceuticals Industries Ltd., Hebei Changshan Biochemical Pharmaceutical Co., Ltd., Dr. Reddy’s Laboratories Ltd., LEO Pharma A/S, and Viatris, Inc.
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