The global ”heparin“ market size is expected to reach USD 11.43 billion by 2027, exhibiting a CAGR of 3.9% during the forecast period. The increasing cases of cardiovascular diseases such as deep vein thrombosis & pulmonary embolism are expected to spur demand for heparin in the forthcoming years, states Fortune Business Insights, in a report, titled “Heparin Market Size, Share & Industry Analysis, By Product Type (Unfractionated Heparin (UFH), and Low Molecular Weight Heparin (LMWH)), By Source (Bovine, and Porcine), By Application (Deep Vein Thrombosis & Pulmonary Embolism, Atrial Fibrillation, Heart Attacks, Stroke, and Others), By Route of Administration (Intravenous Infusion, and Subcutaneous Injection), By End User (Hospitals & ASCs, Clinics, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 8.39 billion in 2019.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
The report on theheparin marketreveals:
- Prominent insights into the industry
- Noteworthy data about major companies
- Emerging trends and drivers
- Comprehensive analysis of the segments
- COVID-19 effect on the industry
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Rising Incidence ofChronic Disorders to Incite Business Development
The increasing prevalence of cardiovascular diseases around the world, including heart attacks and strokes will spur opportunities for the market. As per the American Heart Association (AHA) Heart Disease and Stroke Statistics, an estimated 5.3 million Americans suffered from atrial fibrillation in 2019. The growing demand for heparin among patients can have an excellent impact on the market. As per the Centers for Disease Control and Prevention, coronary heart disease is the most common type of heart disease, killing 365,914 people in 2017.4. About 18.2 million adults age 20 and older have CAD (about 6.7%). Moreover, 2 in 10 deaths from CAD happen in adults less than 65 years old. The increasing awareness about the benefits of heparin in the treatment and management of heart diseases will improve the prospects of the market in the foreseeable future.