Heparin is a medication which is used as an anticoagulant (blood thinner). It is used to treat and prevent deep vein thrombosis, pulmonary embolism & arterial thromboembolism and is mostly used for treatment of heart attacks. The application of heparin coatings in medical devices is necessary because they reduce the foreign material response, which occurs when the medical device encounters the patient's tissue. The global heparin coated medical device market is expected to witness a CAGR of XX % during the forecast period 2019 to 2024.The major factor attributed to the rising demand of heparin coated medical devices in the healthcare industry rising increasing expenses on research and development. Moreover, high investments in research and development activities to analyse the underlying science behind heparin coating technologies and how the body responds to them further boost the market. The major factor restraining the growth of the market during the projected period is the excessive cost of the products and lack of medical expertise. The global heparin coated medical device market is segmented based on technique into ionically bonded heparin, covalently bonded heparin and physically entrapped heparin. Among these techniques, covalently bonded heparin technique is expected to account for largest share in the global heparin coated medical devices market followed by ionically bonded and physically entrapped heparin technique. The growth of covalently bonded heparin technique is driven by the wide application as absorbent and reduction of reaction when heparin is covalently attached to the medical devices surface Based on device type, the global heparin coated medical device market is segmented into, Implantable Devices, surgical Instruments, catheters and other Devices. Other devices include bypass equipment’s such as blood oxygenators, reservoirs, pumps and disposable products etc. The Implantable devices segment is expected to command the largest share of heparin coated medical devices market owing to the properties of heparin like anticoagulant and ease of application. By application, the global heparin market Is bifurcated into cardiovascular, general surgery, orthopaedics and others including Dentistry. Cardiovascular segment is anticipated to account for the major market share of heparin coated medical devices during the forecast period. The overall growth of the brain monitoring market with respect to cardiovascular segment is primarily driven by the rapid increase in cardiovascular diseases with respect to the aging population. The cardiovascular segment is followed by general surgery and orthopaedics. By geography global heparin coated medical devices market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America comprises United States, Canada and Mexico whereas Europe would primarily cover Germany, France, UK, Italy and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Middle East & Africa, South Africa and Rest of MEA are the key countries covered in the report. North America is expected to be the fastest-growing region during the prediction period. Moreover, Asia Pacific is expected to grow at highest CAGR During the forecast period. Factors such increasing health expenditure and rising disposable income in the developing countries is fuelling the growth of heparin coated medical device market in Asia Pacific. Some of the key participants in the heparin coated medical device market are Medtronic, Inc, Edwards Lifesciences, LLC, Vygon Group, Maquet Getinge Group, W.L. Gore & Associates, Inc., Surmodics, Inc, Corline Systems, AB, Jotec GmbH, Baxter International, Inc, Spire Corporation, etc. Expansions, mergers and partnership are the strategies implemented by key market players to expand their R&D competences and geographic presence in the global market.
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