According to FutureWise analysis the market for heparin in 2023 is US$ 7.62 billion, and is expected to reach US$ 9.45 billion by 2031 at a CAGR of 2.72%.
Heparin is a member of the class of medications known as anticoagulants, commonly referred to as "blood thinners." It works by reducing the ability of the blood to clot. Heparin is given to individuals to lower their chance of developing blood clots if they have certain medical conditions or have certain medical procedures that enhance that risk. Heparin is able to stop blood clots from forming in blood vessels, but it cannot shrink the size of clots that have already been generated. Heparin is also used in low quantities to prevent blood clots from forming in catheters, which are tiny plastic tubes inserted into veins to collect blood or provide medication.
An injectable anticoagulant called heparin is frequently used during surgical procedures to stop blood clotting in the veins and arteries. In addition, it is utilized to treat conditions related to blood coagulation. In addition, it is used to identify and treat pulmonary, venous, and arterial thromboembolism. Unfractionated heparin is another name for heparin that is widely used. Heparin is a substance made from animal tissue that comes from butchered meat. The primary driver of the increase in heparin demand is the rise in accidents and surgical procedures. The need for heparin will also increase due to the prevalence of diseases, including cardiovascular illnesses. The market demand is also anticipated to be increased by spending to upgrade healthcare infrastructure and increase patient awareness.
Recent developments by key players in Heparin Market:
In January 2022- Optimvia Pharmaceuticals, an Ohio-based biotechnology company, claimed to have created a synthetic process for producing huge quantities of heparin, which is required to generate a common blood thinner at a reasonable rate.
Heparin is used clinically in deep vein thrombosis (DVT) therapy, dialysis, and most heart surgeries. Heparin also prevents blood clotting in open heart surgery, kidney dialysis, bypass surgery, and blood transfusions. With the global expansion of chronic renal disease, kidney dialysis procedures are rising. Heparin demand is also increasing due to an increase in surgeries and the incidence of diseases, including deep vein thrombosis and coronary heart disease, which will fuel the heparin market's growth throughout the forecast period. Moreover, there have been ongoing technological efforts to expand the applications of these products and present alternatives to goods generated from animals. However, the importance and criticality of this therapy during anticoagulation remain unaffected. The development and production of synthetic unfractionated heparin, LMWH, and ultralow mol weight heparin (ULMWH) have shown substantial promise in recent research efforts focusing on modulating enzymes related to the regulatory mechanisms of these drugs. The development of the synthetic form could lead to products with fewer Heparin-induced Thrombocytopenia (HIT) side effects and more clearly defined physical, chemical, biological, and pharmacological properties. Additionally, a few emerging businesses are collaborating to produce synthetic versions of these goods at a lower cost in order to replace those made from animal products. The creation of substitute materials and mergers among businesses are expected to boost this target market. However, heparin use can cause spontaneous bleeding in the stomach, intestines, ovaries, uterus, mouth, and gums, in addition to open wounds and surgical sites. A potentially fatal heparin side effect known as heparin-induced thrombocytopenia (HIT) happens when the medication causes the body to develop antibodies against its own platelets. This lowers platelet count and raises the risk of bleeding. The market is projected to constrain due to heparin's negative effects.
FutureWise Market Research has published a report that provides an insightful analysis of heparin market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, the heparin market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.