The Europe heparin market is projected to flaunt a solid growth, now many years from now, owing to the unreasonable ubiquity of coagulation diseases in the region and its developed economy. Since age holds a direct correlation with venous thromboembolism (VTE) diseases such as deep vein thrombosis (DVT) and pulmonary embolism (PE), the rising geriatric population in Europe is anticipated to propel the advancement of the heparin market in the region.
Nonetheless, Europe is a significant geographical segment by itself that majorly contributes toward the burgeoning of the global heparin market. As per the figures shared by the European Commission’s Ageing Report in 2015, the population above the age of 65 years is foreseen to expand from 21.0% in 2013 to 32.0% in 2060.
A leading market research firm, Transparency Market Research (TMR), has announced the expansion of the Europe heparin market at a CAGR of 5.2% between 2016 and 2024 to touch US$3.5 bn by the later year. In 2015, the market had attained the value of US$2.2 bn.
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Which are the Prominent European Nations Likely to make a Statement?
In the future scenario and according to the historical analysis of the Europe heparin market, Germany and France are predicted to outshine the other top countries in the region. With a colossal market share in 2015, Germany is envisaged to hold the ruling position in the Europe market until the end of the forecast period. New heparin processors and manufacturers are reckoned to enter the market on the back of stiff government mandates to eliminate adulteration in the Chinese active pharmaceutical ingredients (APIs).
Howbeit, the demand for heparin has augmented considerably in Germany due to the mushrooming occurrence of VTE diseases. Stringent policies concerning the import of heparin have enforced Germany-based firms to acquire heparin API manufacturers.
France stands second on the basis of market growth and is trailed by Belgium, Portugal, Italy, Spain, and the U.K. However, France is estimated to secure a herculean growth in the foreseeable future while riding on higher consumption of heparin during and post the common surgical procedures such as breast, knee replacement, appendectomy, and hip surgeries.
Other European nations such as Poland, Switzerland, Austria, Hungary, the Czech Republic, Greece, and Slovakia and the Rest of Europe are also expected to stay in the race.
How will the Europe Heparin Market Fare in Top Segments?
While the blood and stem cell banks segment exhibited significant growth in the base year of the forecast period, the Europe heparin market had its turning point with the extensive application in hospitals. Since most surgical procedures are conducted in hospitals, the segment has remarkably dominated the market. Calcilean, calciparine, heparin-leo, hepalean-lok, and hepalean are some of the frequently used heparins in a hospital setting. In clinics and hospitals, heparin is voluminously used as a blood thinner during the treatment of orthopedic, cancer, and cardiovascular diseases.
Few of the key players, viz. Pfizer, Inc., Dr. Reddy’s Laboratories, Sanofi SA, Leo Pharma, and Teva Pharmaceutical Industries Ltd., are prophesied to grab the attention in the Europe heparin market.