Hemochromatosis Treatment Market is Segmented By Type (Primary Hemochromatosis, Secondary Hemochromatosis), By Diagnosis Type (Blood test, CT (computerized topography), MRI (magnetic resonance imaging), Liver biopsy, Others), By Treatment (Phlebotomy, Chelation Therapy, Surgery, Others), By End-User (Hospitals, Diagnostic Center, Ambulatory Surgical Center, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Hemochromatosis Treatment Market Overview
Hemochromatosis Treatment Market is estimated to reach at a high CAGR 5.7% during the forecast period (2023-2030).
Hemochromatosis, also known as bronze diabetes or iron storage disease, is an autosomal recessive hereditary disorder characterized by excessive iron absorption by the small intestines. Excess iron accumulation in the body promotes oxidation and causes tissue injury, fatigue, arthralgia or arthritis, and skin changes. Hemochromatosis is treated with phlebotomy, and Chelation therapy is the most direct and safe way to lower body stores of iron.
Hemochromatosis Treatment Market Summary
| Metrics | Details |
| Market CAGR | 5.7% |
| Segments Covered | By Type, By Diagnosis Type, By Treatment, By End-User, By Distribution Channel and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Hemochromatosis Treatment Market Dynamics
Technological advancement in the detection of liver disease is expected to drive market growth.
Glycocholic acid (GCA) is a biomarker for liver disorders, but until now, only a few simple naked-eye detection methods have been published. A hybridoma approach is used to create a new monoclonal mouse antibody (mAb) against GCA. The anti-GCA mAb had a good specificity, resulting in little cross-reactivity with seven structurally and functionally related GCA analogs. A simple naked-eye visible approach for GCA detection was devised using this anti-GCA mAb and a modified red-colored bacterial strain (Staphylococcus aureus, S. aureus). This approach of detecting GCA with just your eyes takes only a few minutes and does not require any expensive equipment. It is a quick, convenient, and straightforward approach for detecting GCA to diagnose liver disorders. Thus, the market is expected to drive in the forecast period from the above statements.
COVID-19 Impact Analysis On Hemochromatosis Treatment Market
The COVID-19 pandemic has moderately impacted healthcare systems and the market. Iron deficiency is becoming more widely recognized as a factor in COVID-19 etiology. COVID-19's symptoms, including inflammation, hypercoagulation, hyperferritinemia, and immunological dysfunction, are similar to iron overload. The major pathogenic molecular step of COVID-19, according to researchers, is to target hemoglobin, causing the porphyrins to dissociate from iron and release iron into circulation. As a result, hemoglobin loses its ability to bond with oxygen, obstructing oxygen supply to important organs and resulting in fast multi-organ failure. Iron chelation can be used as adjuvant therapy to treat COVID-19. In addition to the naturally occurring iron chelator lactoferrin, iron chelators such as deferasirox, deferoxamine, and deferiprone may be beneficial in the fight against COVID-19. Iron chelators may be useful not just for sequestering iron and reducing inflammation but also for blocking the coronavirus from attaching to the receptors it uses to enter host cells.
Additionally, the pandemic is interrupting the supply chain, and many companies will vary to other geographic regions in the future to ensure that products remain available and protect their supply chain. Thus, the COVID-19 pandemic has affected the market.
Hemochromatosis Treatment Market Segment Analysis
Phlebotomy segment is expected to hold the largest market share in hemochromatosis treatment market
The phlebotomy segment is expected to dominate in 2020. The segment is benefited because phlebotomy, or the removal of excess iron from the blood, is used to treat hemochromatosis. This method has maintained the iron levels in the blood in check by drawing blood from the patient regularly. Giving blood is a similar procedure. Phlebotomy is a simple, inexpensive, and risk-free career. Phlebotomy is mostly done in blood banks, like conventional blood donation. Phlebotomy can help people who haven't yet experienced problems due to an excess of iron. It could also help you live a normal life expectancy. For instance, phlebotomy can help avoid cirrhosis and its potentially lethal effects, such as liver cancer. Poor liver function, liver enlargement, and liver pain are all conditions that can be treated or improved. Thus, the market segment is expected to hold the largest market share in the forecast period from the above statements.
Hemochromatosis Treatment Market Geographical Analysis
Europe region holds the largest market share in the global hemochromatosis treatment market
In 2020, Europe accounted for the highest revenue share. The increasing prevalence of hemochromatosis, advancement in diagnosis procedures, and growing investment in research and development activities of hemochromatosis in the region are factors the market is expected to boost in the forecast period. For instance, The European countries with the highest prevalence include Ireland, France, and Denmark. Hemochromatosis is one of the most common heritable genetic conditions in people of Northern Europe, with a prevalence of 1:200. The disease has a variable penetration and about one in 10 people of this demographic carry a mutation in one of the genes regulating iron metabolism.
Moreover, Silence Therapeutics' primary RNAi drug in development intends to cure and reverse iron diseases, such as beta-thalassemia, myelodysplastic syndrome, and hemochromatosis, famously underdiagnosed and undertreated. Targeting a protein called hepcidin, a critical iron balance regulator in the body, the company's technique could lower iron levels in the blood. Therefore, it has increased the demand for hemochromatosis treatment, due to which the North American region is expected to hold the largest market share in the forecast period.
Hemochromatosis Treatment Market Competitive Landscape
Major key players in the hemochromatosis treatment market are Novartis Pharmaceuticals Corporation, Camber Pharmaceuticals, Inc., Novadoz Pharmaceuticals, Teva Pharmaceuticals USA, Inc., Pfizer Inc., Merck KGaA, Abcam plc., ApoPharma Inc., CHIESI FARMACEUTICI S.p.A and Apotex Inc.
Pfizer, Inc.:
Overview:
Pfizer Inc. is an American multinational pharmaceutical company. The company develops and produces medicines and vaccines for various medical disciplines, including immunology, oncology, cardiology, endocrinology, neurology and other therapeutic areas. Its medicines and vaccines provide value for healthcare providers and patients through the treatment of diseases improvements in health wellness. Pfizer Limited has a portfolio of over 150 products across 15 therapeutic areas. It sells its prescription pharmaceutical products to wholesalers, retailers, hospitals, clinics, government agencies and pharmacies.
Product Portfolio:
DEFEROXAMINE MESYLATE (deferoxamine mesylate): Deferoxamine Mesylate for Injection, USP is indicated for the treatment of acute iron intoxication and of chronic iron overload due to transfusion-dependent anemias.
