The Latin America, Middle East and Africa Heparin Market would witness market growth of 7.5% CAGR during the forecast period (2021-2027).
The increasing demand for heparin among patients suffering from the chronic blood-related disorder. It is boosting the demand for heparin and expected to have an excellent impact on the market growth. According to the Centers for Disease Control and Prevention, the increasing incidence of chronic blood-related diseases such as heart disease has killed about 365,914 people in 2017. The awareness about the benefits of heparin has been increased. The awareness about the treatment and management of heart diseases is likely to improve the prospects of the heparin market in the forecast period.
Moreover, biopharmaceutical companies are actively working to develop innovative medicines to improve the therapeutic potential of heparin. The market is also driven by the various advancements for carbohydrate synthesis and building block preparation. Furthermore, government funding with an aim to improve healthcare facilities is also increasing. The extensive research and development (R&D) activities to develop heparin with ultra-low molecular weight are also creating positive growth opportunities for the market.
The health care infrastructure is not very advanced in Sub-Saharan Africa. But, the incidences of chronic heart disease are high in this region. The WHO estimated that more than 17.7 million people died from CVDs in 2015 that represents approximately 31% of all global deaths. People who are suffering from cardiovascular disease are at risk of hypertension, diabetes, hyperlipidemia. Thus, it requires early detection and management to prevent the number of deaths occurring due to CVD. The burden of cardiomyopathies, cerebrovascular disease, and rheumatic heart disease are still very predominant in many regions of Africa. Therefore, the demand for heparin for the treatment of cardiovascular disease is increasing. It is a major factor that is expected to contribute to the growth of the market during the forecast period. Heparin is used in surgery as it reduces the risk of a blood clots in the arteries, veins, or lungs. Therefore, the demand for heparin has been increased over the past few years.
The Brazil market dominated the LAMEA Inpatient Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $204.4 million by 2027. The Argentina market would witness a CAGR of 9% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Heparin Market is Predict to reach $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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