What are the Historical Developments and Current Growth Metrics of the Hemochromatosis Iron Overload Disease Treatment Market?
The hemochromatosis iron overload disease treatment market has seen considerable growth due to a variety of factors.
• In recent times, the market size relating to the treatment of hemochromatosis (iron overload) disease has seen a consistent growth. The market, currently valued at $27.91 billion in 2024, is projected to climb further to reach $28.73 billion by 2025, registering a compound annual growth rate (CAGR) of 2.9%.
This growth throughout the historic period can be associated with factors such as enhanced clinical knowledge and diagnostics, advancements in therapeutics, genomic screening, early detection methods, the increasing occurrence of hereditary hemochromatosis, and ongoing research and clinical trial efforts.
What Is The Projected Growth Of The Hemochromatosis Iron Overload Disease Treatment Template Market?
The hemochromatosis iron overload disease treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The market for treating hemochromatosis (iron overload) is projected to expand steadily in the upcoming years, with the potential to reach $33.11 billion by 2029 with a compound annual growth rate (CAGR) of 3.6%.
This projected growth can be traced back to various influencing factors such as the advent of personalized medicine, innovative therapeutic breakthroughs, enhanced screening processes and awareness campaigns, collaborative genetic study ventures, and global health initiatives. Throughout the forecast period, the market is set to focus on improving patient education and awareness, delve into discovering genetic and molecular treatments, promote remote telemedicine and monitoring services, unify digital health platforms, and strive towards globally expanding treatment access.
What Are The Key Drivers Fueling Growth In The Hemochromatosis Iron Overload Disease Treatment Market?
The escalating prevalence of anemia is anticipated to fuel the development of the hemochromatosis (iron overload) disease treatment market. Anemia, a condition characterized by a diminished count of red blood cells (RBCs) or a reduced percentage of hemoglobin in the blood, restricts the capacity to transport oxygen to the body's organ and tissue systems. Hemochromatosis (iron overload) disease treatment is geared towards mitigating anemia using iron chelator drugs to avert organ damage and complications associated with blood diseases. For example, in December 2023, the World Health Organization (WHO), an agency headquartered in Switzerland, estimated that 40% of children aged 6 to 59 months, 37% of expecting mothers, and 30% of women aged 15 to 49 globally are impacted by anemia. Consequently, the rising prevalence of anemia is predicted to stimulate the hemochromatosis (iron overload) disease treatment market's growth. The stress-heavy lifestyle trends are projected to stimulate the hemochromatosis (iron overload) disease treatment market's growth. People's mental and physical health are significantly affected by intense stress lifestyles, and enduring high stress can cause a variety of health issues, which includes hemochromatosis (iron overload) disease. Hemochromatosis treatment focuses not only on the physical symptoms but it also considerably contributes to alleviating emotional and psychological stress often associated with chronic health condition management. For example, in December 2022, the American Psychiatric Association, a professional organization of psychiatrists in the USA, reported that over one-fourth (26%) of Americans predicted experiencing increased stress starting 2023, a jump from one in five (20%) the previous year. Hence, escalating stress-laden lifestyle is what propels the hemochromatosis (iron overload) disease treatment market.
What Are The Principal Market Segments In The Global Hemochromatosis Iron Overload Disease Treatment Industry?
The hemochromatosis (iron overload) disease treatment market covered in this report is segmented –
1) By Type: Hereditary Hemochromatosis, Acquired Hemochromatosis
2) By Treatment: Therapeutic Phlebotomy, Iron Chelation Therapy, Other Treatments
3) By End-Users: Hospitals, Surgical Centers, Other End-Users
Subsegments:
1) By Hereditary Hemochromatosis: Genetic Counseling, Phlebotomy, Chelation Therapy
2) By Acquired Hemochromatosis: Treatment Of Underlying Conditions, Phlebotomy, Chelation Therapy
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What Emerging Trends Are Influencing The Growth Of The Hemochromatosis Iron Overload Disease Treatment Market?
Dominant organizations in the treatment market for hemochromatosis (iron overload) disease have acquired approvals for drugs such as deferiprone, targeted at patients suffering from transfusional iron overload. This is done with the objective of decreasing abundant iron levels in the body and averting complications linked to iron accumulation, for instance, organ damage. Deferiprone is a drug used to manage iron overload in individuals who have undergone numerous blood transfusions. This is often witnessed in conditions like thalassemia, sickle cell anemia, or other chronic types of anemia. As an example, in March 2023, Chiesi Global Rare Diseases Inc, a business unit based in the US, reported the approval of FERRIPROX MR (deferiprone) extended-release tablets in Canada. FERRIPROX MR is suggested for the treatment of transfusional iron overload in patients diagnosed with thalassemia syndromes when the existing chelation therapy falls short. This also includes patients suffering from sickle cell disease (SCD) or other forms of anemia. Deferiprone, which is consumed orally, is an iron-chelating agent that effectively diminishes the concentration of iron in the body. It accomplishes this by infiltrating cell membranes and attaching to surplus iron, thereby aiding in its expulsion from organs and tissues.
Who Are the Key Players In The Hemochromatosis Iron Overload Disease Treatment Market?
Major companies operating in the hemochromatosis (iron overload) disease treatment market report are:
• Pfizer Inc.
• AbbVie Inc.
• Novartis AG
• Fresenius Kabi AG
• Abbott Laboratories
• Merck KGaA
• Laboratory Corporation
• Quest Diagnostics
• Chiesi Farmaceutici S.p.A.
• Apotex Inc.
• Shire PLC
• CSL Vifor
• ARUP Laboratories
• Myriad Genetics Inc.
• Fulgent Genetics
• Ionis Pharmaceuticals Inc.
• Invitae Corp.
• Abcam plc.
• GeneDx
• Ambry Genetics
• La Jolla Pharmaceutical Company
• Silence Therapeutics
• PreventionGenetics
• DisperSol Technologies LLC.
• Hinoman Ltd.
What Are The Regional Insights Into The Hemochromatosis Iron Overload Disease Treatment Market?
North America was the largest region in the hemochromatosis (Iron Overload) disease treatment market in 2024. The regions covered in the hemochromatosis (iron overload) disease treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
