Iron Overload Syndrome Treatment Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Iron Overload Syndrome Treatment Market By Type (Primary Iron Overload, Secondary Iron Overload), By Treatment (Iron Chelation Therapy, Phlebotomy), By End User (Hospitals, Ambulatory Surgical Centers, Others), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Market Overview

Global Iron Overload Syndrome Treatment Market is expected to grow at a high CAGR during the forecast period 2024-2031.

The global iron overload syndrome treatment market has witnessed significant growth and transformations over the years, with various factors influencing its dynamics. Rising technological advancements, research and development and government investments in pharmaceuticals and biotechnology sectors are among the key drivers impacting iron overload syndrome treatment globally. After the challenging year of 2020, the iron overload syndrome treatment industry showed moderate resilience and adaptability.

Government investments, particularly in developing economies, will continue to drive utilization of these novel products and boost the global iron overload syndrome treatment market. The global iron overload syndrome treatment industry is placing increasing emphasis on better management in healthcare. The respective initiatives includes the use of novel technology for treatment purpose.

The iron chelation therapy, accounts for over two third of the market share. Similarly, the North America dominates the iron overload syndrome treatment market, capturing the largest market share of over 1/3rd. The region’s rapid investments in healthcare and rising major players in the iron overload syndrome treatment market globally, makes it the largest market share holder. United States has the largest pool of manufacturers as well as consumers.

Market Scope

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Market Dynamics

Growing Research and Clinical Trials for Phlebotomy

Developed economies have been witnessing rapid growth in betterment of their healthcare sectors, driven by high income levels, investments and infrastructure development. Several countries have experienced substantial demand for iron overload syndrome treatment owing to its advancements, reflecting their expanding healthcare industries. Rising research and development along with clinical trials for the same will be a crucial factor driving the growth of the market.

According to a paper published in British Journal of Surgery, on December 5, 2022, patients who had an anterior accessory saphenous vein or defective great saphenous vein having more than one incompetent tributaries underwent a multicenter, non-inferiority RCT. Thermal endovenous ablation with concurrent phlebectomy (TAP) or single ambulatory phlebectomy (SAP) were given at random to the participants. For SAP individuals who had persistent symptoms after 9 months, extra truncal therapy was taken into consideration. Participants who had SAP exhibited non-inferior health-related standards of life compared to those who underwent TAP one year after treatment. At 12 months, SAP therapy was a more affordable option than TAP.

The precision, effectiveness, and safety of blood draws have all recently improved thanks to a number of technological developments in phlebotomy. One illustration is vein imaging technology, which makes it easier for medical professionals to locate veins. Another illustration is the creation of smaller, more pleasant needles that are less painful and more unlikely to bruis. Additionally, equipment now makes it possible to draw blood from the finger's capillary beds, which is useful in some circumstances. Phlebotomy operations are becoming faster, less stressful, and more efficient as a result of these advancements.

Rising Studies on Iron Chelation Therapy for Disorders

The angiogenic and antioxidant activities of deferoxamine were initially postulated in response to in vitro experiments that demonstrated that DFO boosted VEGF mRNA and protein synthesis via the transcription protein hypoxia-inducible factor 1 (HIF-1). Important signaling molecules associated with the stimulation of angiogenesis include HIF-1 and VEGF. HIF-1 is made up of the HIF-1 and HIF-1 subunits as a heterodimer. HIF-1 is constitutively expressed, but it deteriorates in normoxia and is only increased in hypoxic environments. 

HIF-1 builds up in tissues with low oxygen levels, and when it heterodimers, it activates a number of target genes, such as VEGF. In the presence of the enzyme prolyl-4-hydroxylase (PHD), HIF-1 breaks down. This enzyme needs iron as a cofactor, and through chelating iron, DFO inhibits PHD, which causes HIF-1 to build up and become activated, activating the HIF-1 heterodimer and starting the angiogenic signaling pathway downstream. Importantly, DFO has been demonstrated to prevent iron-catalyzed reactive oxygen stress, reducing ROS generation and cellular death as a result. This is because DFO sequesters iron ions.

Complications Associated with Phlebotomy  

Hematoma development is the most frequent phlebotomy/venupuncture-related consequence. The blood spilling into the tissues upon or following venepuncture is the source of this kind of problem. Swelling at or close to the venepuncture site is a typical indicator that this complication is present. A small problem with venepuncture can be hemotatoma consequence. Following venepuncture, hematoma formation can be uncomfortable and even possibly harmful to nerves. 

Nerve injury is one of the less common but potentially significant phlebotomy consequences, and it frequently leads to malpractice claims. Following venepuncture, excessive bleeding can happen. being a patient using anticoagulants, aspirin medicine, or other medications that lower platelet counts. Edema, which can be localized or widespread, is an abnormal buildup of fluid in the body's intercellular spaces. Blood collection from these areas should be avoided since it will contaminate the specimen with tissue fluid. A thrombus is a solid lump that forms from the components of a blood clot in the veins. 

Venepuncture may be challenging due to thrombus, which can completely or partially occlude a vein or artery. Instead of puncturing the vein, the artery may be used. When this happens, the needle ought to be taken out right away, and pressure should be provided to the area. A localized infection can cause thrombophlebitis, while a systemic infection can cause septicemia. The infection could be widespread or localized. Peripheral intravenous cannula infections, however, are frequently linked to localized rather than systemic infection.

Side Effects Associated with the Iron Chelators

The most often reported side effects of deferasirox are gastrointestinal issues, an increase in liver enzymes, a maculopapular skin rash, and an increase in blood creatinine levels, despite the fact that it is generally well tolerated and has a high safety profile. Abdominal discomfort (41%), nausea (31%), and jaundice (15%) were the gastrointestinal side effects of deferasirox that were most frequently observed in studies. 

Another significant negative outcome in the current study was an increase in liver enzymes; after six months of treatment, 69% of patients had increased serum levels of glutamic pyruvic transaminase. According to various studies, the serum creatinine level increases with the duration of deferasirox medication.

Market Segmentation Analysis

The global iron overload syndrome treatment market is segmented based on type, treatment, end user and region.

High Utilization of Iron Chelation Therapy for Different Disorders 

Due to iron deposition in numerous organs like the liver and heart after frequent transfusion, iron chelation therapy is utilized to prevent the development of iron overload. In this review, more recent research concentrating on these therapeutic agents have been used to assess various iron chelators implicated in treating iron overload in diverse clinical situations. The three most significant iron chelators specifically approved by the US FDA are deferroxamine, deferiprone, and deferrasirox. Each of these chelators has unique benefits and drawbacks, as well as a variety of target diseases, amounts of deposited iron, and clinical symptoms of the affected individuals, all of which could influence your decision regarding the best treatment option.

Desferal is a non-toxic iron chelator that is beneficial for ongoing iron chelation therapy in cases of beta-thalassemia and other iron overload. It has received clinical approval. DFO has a remarkable impact in reducing blood ferritin levels and hepatic iron levels, which lengthens life expectancy. Oral iron chelator, a suitable option for patients who did not respond favorably to earlier chelation therapy with Deferasirox and Deferoxamin. The most frequent adverse reactions include arthralgia, gastrointestinal problems, and increased liver enzymes.

Market Geographical Share

North America Accounted for Largest Market Share in 2022, Owing to the Strong Presence of Major Players and Increasing Healthcare Infrastructure Investment

Due to the rising need for iron overload syndrome treatment in healthcare, manufacturers in North America have chances of increasing their operations. There are many producers and suppliers in North America and owing to the quick economic growth of the region, industrial production has expanded, driving the demand for iron overload syndrome treatment. 

Increasing expenditure on healthcare and rising research studies, advancement of technologies and enhanced treatments for healthcare, and increase in pharmaceutical or biotech business establishment across the region are also contributing to the growth of iron overload syndrome treatment market share of this region. 

The key healthcare organizations' and businesses' joint research initiatives are also expected to contribute to the rising demand, as will new product development, which constantly looks to improve present options. The market in this area is growing as people become more aware of various novel treatments such as electrical stimulation or medications. The aforementioned elements further attest to North America's hegemonic position in the world.

North America continues to be a key player in the global iron overload syndrome treatment market, with United States leading the way. Government initiatives promoting infrastructure development and investment, and a focus on rising advancements have fueled the demand for iron overload syndrome treatment in the region. United States have been proactive in executing several initiatives or researches, stimulating iron overload syndrome treatment demand.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic in late 2019 created unprecedented challenges for industries worldwide, including the global iron overload syndrome treatment market. As countries grappled with lockdowns, supply chain disruptions and reduced economic activity, the medical device sector, with a significant consumer of iron chelation therapy, was significantly impacted.

Several efforts all throughout the world were impacted by the pandemic's broad lockdowns and limitations that started in early 2020. Major pharmaceutical or medical device industries came to a standstill and shifted their attention towards the management of COVID-19, leading to a slump in demand for iron overload syndrome treatment. As a result, many pharmaceutical plants either suspended or reduced production to align with the reduced demand.

The COVID-19 pandemic severely disrupted global supply chains, impacting the transportation of raw materials to the pharmaceuticals manufacturing plants. Movement limitations and border closures caused production and supply delays. Additionally, some nations experienced a lack of raw resources as a result of supply chain network interruptions.

With the outbreak of the pandemic, many pharmaceutical or biotechnology manufacturing units faced labor shortages as workers fell sick or were unable to travel to work due to lockdown restrictions. To curb the spread of the virus, pharmaceutical plants implemented stringent safety measures, reducing the number of workers allowed on-site at a time. However, these precautions were required to protect employee health and continue crucial activities throughout the pandemic.

Russia-Ukraine War Impact Analysis

The medical device businesses are starting to worry regarding their capacity to continue operating, much like other parts of the world. Russia's invasion of Ukraine has an effect on millions of people not only in this nation in Eastern Europe but also all around the world. Drug medical devices and therapies developers will thus experience delays in the development process, a loss of business consistency, and the possibility of non-compliance for treatment already on the market. 

For many years, clinical trials in several therapeutic fields have benefited significantly from the participation of Ukraine, Russia, and other CIS nations. Clinical trial durations can frequently be accelerated by incorporating more patients into studies when there is availability to skilled investigators, high-quality patient populations, and big patient populations. Trials that are delayed in Russia and Ukraine as well as relocation to other regions of Europe for fresh trials are currently viable choices. These factors will impact the global iron overload syndrome treatment market.

Key Developments

• On March 31, 2023, according to Chiesi Global Rare Diseases, a division of the Chiesi Group established to provide cutting-edge therapies and solutions to people with rare diseases, FERRIPROX MR deferiprone extended-release pills, 1000 mg, have been authorized by Health Canada for the treatment of people with transfusional iron overload caused by thalassemia syndromes if present chelation therapy is inadequate or sickle cell disease (SCD), or other anemias.
• On April 23, 2021, the Indian business MSN Labs has launched four recently approved generic medications into the US market via its subsidiary Novadoz: albendazole, droxidopa, deferasirox, and pregabalin. The company asserts to have a "profound pipeline" of launches scheduled for the next ten years.

Companies

The major global players in the market include Novartis AG, Teva Pharmaceutical Industries Ltd., Global Calcium PVT LTD, Actis, Taro Pharmaceutical Industries Ltd., MSN Laboratories, Sun Pharmaceutical Industries Ltd., Synnat Pharma, Easton Biopharmaceuticals and Pfizer Inc.

Why Purchase the Report?

• To visualize the global iron overload syndrome treatment market segmentation based on type, treatment, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of iron overload syndrome treatment market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global iron overload syndrome treatment market report would provide approximately 61 tables, 58 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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