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As outlined in The Business Research Company’s Heparin Global Market Report 2023, the worldwide heparin market experienced a rise from $8.67 billion in 2022 to $9.19 billion in 2023, registering a compounded annual growth rate (CAGR) of 6.0%. Forecasts project the heparin market to flourish to $11.38 billion by 2027, with a CAGR of 5.5%.

What was the major driver in the heparin market?
The burgeoning prevalence of chronic illnesses serves as a pivotal impetus propelling the expansion of the heparin market. Chronic ailments denote medical conditions persisting for over a year, necessitating consistent medical attention or specialized hospitalization. The surge in these conditions, attributed to lifestyle changes, dietary habits, and improper weight management, augments the risk of chronic infections evolving into malignancies. Amplified exposure to such diseases has escalated the demand for heparin, widely utilized to thin the blood during surgeries and diverse medical interventions. For instance, research published by the American Action Forum in September 2020 underscores the growing prevalence and cost of chronic diseases in the US, expected to persist due to the rising prevalence of diseases among youngsters and the aging of the Baby Boomer generation. Moreover, the Centers for Disease Control and Prevention, a prominent US public health agency, indicates that 6 out of 10 adults in the US bear chronic diseases, and 4 out of 10 harbor multiple such ailments. Hence, the mounting incidence of chronic illnesses will underpin the heparin market’s expansion.

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What was the key trend in the heparin market?
Innovations in product development constitute a pivotal trend garnering traction in the heparin market. Key industry players and their research wings are directing heightened attention towards devising advanced and enhanced heparin solutions or pre-filled syringes, characterized by precision and convenience, to amplify their market reach and global presence. An exemplar is Fresenius Kabi USA, a US-based healthcare entity, which introduced Freeflex® IV bags in April 2021. These bags contain low-concentration sodium heparin infused in ready-to-use sodium chloride injections. Featuring either 1,000 USP units of sodium heparin in a 500 mL infusion bag with 0.9% sodium chloride or 2,000 USP units of sodium heparin in a 1,000 mL infusion bag with 0.9% sodium chloride, these heparin bags mitigate medication errors, enhancing patient safety.

Which was the largest region in the heparin market?
In 2022, North America emerged as the foremost region in the heparin market. The comprehensive global heparin market report encapsulates Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the heparin market prominent players?
Major stakeholders in the heparin market encompass Baxter, B. Braun Medical Inc., Dr. Reddy’s Laboratories Ltd., Fresenius SE & Co. KGaA, Leo Pharma A/S, Pfizer Inc., Sanofi, Opocrin S.p.A., Aspen Holdings, GlaxoSmithKline plc, Hebei Changshan Biochemical Pharmaceutical Co, Bioiberica SAU, Shenzhen Hepalink, Rovi, Sandoz, Tiandong Pharma, and Viatris Inc. Geographical coverage spans Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Key heparin market segments
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

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The Heparin Global Market Report 2023  furnishes a thorough overview encompassing market dimensions, trends, drivers, opportunities, strategies, and company analysis. These reports enable businesses to proficiently analyze data and formulate well-considered strategies.

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