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Major advances include fractionated heparins and low molecular weight heparins for thrombus management.
Technavio said it is expected that the global heparin market will grow by US$3.34b by 2028, with an annual growth rate of 7.22%.
The industry’s expansion has been attributed to the rising prevalence of coagulation disorders and venous thromboembolism, including deep vein thrombosis and pulmonary embolism.
Heparin is a widely used anticoagulant that prevents blood clots in veins and arteries. Both animal-derived unfractionated heparin and plasma-derived therapies are commonly used.
“Major advances include fractionated heparins and low molecular weight heparins, expanding thrombus management options,” the report states.
However, rising prevalence of side effects, fungal infections, counterfeit drugs, and chronic diseases such as diabetes, cancer, and cardiovascular diseases are hampering the market growth.
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