U.S. Heparin Market size worth over $1 Bn by 2026
Published Date: November 26, 2020 Authors: Sumant Ugalmugle, Rupali Swain
U.S. Heparin Market size is set to surpass USD 1 billion by 2026, according to a new research report by Global Market Insights, Inc.
The U.S. heparin market growth is owing to increasing number of individuals suffering from chronic diseases such as venous thromboembolism and coronary artery disease. For instance, according to the Center for Disease Control and Prevention (CDC) report, the number of patients losing lives due to coronary artery disease in the U.S. was more than 365,000 in 2017. This made coronary artery disease as one of the most common type of heart disease among the U.S. population. Such high pervasiveness of chronic conditions will increase the demand for heparin treatment.
Rising incidence of stroke among geriatric population will significantly spur the market expansion
Geriatric population is constantly growing across the U.S. As per the U.S. Census Bureau, the total number of residents above 65 years of age increased from 40.3 million to over 54 million between 2010 and 2019. People above 65 years of age are increasingly being diagnosed with chronic disorders such as coronary artery disease and stoke among others that will positively influence the market value. Stroke is likely caused by blood clots that interrupt blood flow in the brain. The prevalence of stroke among U.S. adults aged over 50 years and above was 7.6% in 2018. This will increase the demand of heparin. Continuous efforts of industry players to develop highly precise and upgraded heparin products will augment the industry growth.
High risk of side effects may hamper the market revenue
Side effects of heparin treatment may negatively impact the growth of U.S. heparin market. Patients on regular heparin medication may suffer from heparin-induced thrombocytopenia. This can increase the risk of bleeding as body’s immune system develops antibodies against its own platelets. It can cause allergic reactions such as rashes, itching and dizziness among others. Prominent market leaders are trying to develop product, but side effects may adversely affect its adoption rate.
Several applications associated with unfractionated heparin for blood disorder treatment
The unfractionated heparin segment accounted for 14.1% of the market share in 2019 and is estimated to witness around 4.5% growth rate till 2026. Unfractionated heparin is mainly used in various treatment of blood disorders and in kidney dialysis to prevent blood clots. Simple laboratory monitoring is possible due to its immediate onset of action that will further fuel the segment growth.
Browse key industry insights spread across 66 pages with 21 market data tables & 16 figures & charts from the report, “U.S. Heparin Market Size By Product (Low Molecular Weight Heparin, Unfractionated Heparin), By Application (Venous Thromboembolism, Atrial Fibrillation/Flutter, Coronary Artery Disease), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026” in detail along with the table of contents:
Increasing prevalence of atrial fibrillation will boost the market demand
The atrial fibrillation application crossed USD 108.5 million in 2019 and is projected to reach USD 186.6 million by 2026 led by rising prevalence of atrial fibrillation due to growing cases of blood clot formation in heart. For instance, as per the Center for Disease Control & Prevention report, atrial fibrillation caused around 25,845 deaths in U.S. in 2018. The report also stated that, nearly 12.1 million individuals in the U.S. will have atrial fibrillation by 2030.
Availability of heparin at retail stores at discounted price will enhance the segment revenue
The retail pharmacy segment in the U.S. heparin market is poised to expand at more than 7.5% CAGR to exceed USD 346 million by 2026 on account of the availability of heparin at retail stores at discounted price. Increasing demand of surgical procedures performed will propel the market expansion. Increasing cases of chronic diseases such as deep vein thrombosis and pulmonary embolism will upsurge the demand for heparin.
Companies undertake inorganic growth strategies to strengthen their business portfolio and revenue
Some of the prominent participants operating in the U.S. heparin market include Pfizer, Amphastar Pharmaceutical, Sanofi, Shenzhen Hepalink and Nanjing King-Friend Biochemical Pharmaceutical among others. These industry leaders focus on strategies such as product approvals, acquisitions & mergers and partnerships to garner more revenue and sustain market competition.
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