Press release
Global Hereditary Angioedema Therapeutic Market To Be Driven By Increasing Awareness Among General Population In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
Historical Market Size (2020): USD 2.7 Billion
Forecast CAGR (2021-2026): 7%
Forecast Market Size (2026): USD 4.5 Billion
The growing awareness-raising actions among the general community are driving the hereditary angioedema treatment market. The main cause of misdiagnosis is a lack of understanding of hereditary angioedema therapeutics, which leads to patients receiving inadequate therapy.
Appendicitis, gastrointestinal issues, and other non-allergic angioedema illnesses are misdiagnosed in some people with hereditary angioedema. A vast pool of individuals with high medical demands is created by a small number of patients misdiagnosed for the condition. In the coming years, this is projected to be a major market driver for hereditary angioedema therapeutics.
Industry Definition and Major Segments
Hereditary angioedema is a rather uncommon hereditary condition. Repeated episodes of significant swelling of the limbs, digestive system, face, and airway are common symptoms of the condition. There are three different types of this disease: Type I HAE, Type II HAE, and Type III HAE are the three types of HAE.
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The industry can be broadly categorised based on drug class into:
C1-Esterase Inhibitor
Bradykinin B2 Receptor Antagonist
Kallikrein Inhibitor
Others
The industry can be divided based on treatment types as:
Prophylaxis Treatment
On-Demand Treatment
The industry can be classified based on the route of administration:
Intravenous
Subcutaneous
Oral
Based on region, the market is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The global increase in incidence of hereditary angioedema (HAE) is a major market driver. According to the National Organization for Rare Disorders (NORD), the illness affects 1-9 persons per 100,000 people. Because of under-reporting and misdiagnosis, the true number of people with the disease is far greater. Misdiagnosis is common due to a lack of knowledge regarding HAE, which results in patients receiving poor therapy.
Most people with hereditary angioedema are misdiagnosed as having appendicitis, gastrointestinal problems, or other non-allergic angioedema. A large number of people have been misdiagnosed for the ailment, resulting in a large patient pool with significant medical demands.
This will very certainly be a major driving force in the market. Another aspect contributing to the market's growth is the rise of activities aimed at raising public awareness.
The initiative's goal is to help patients get a faster diagnosis and receive the best treatment and care possible. To meet the significant unmet medical need, pharmaceutical drug companies are increasingly focusing on developing innovative therapies for hereditary angioedema. Because of new product releases by major companies, a superior reimbursement scenario, and well-developed healthcare infrastructure, North America led the market in terms of revenue.
The FDA, for example, gave regulatory approval for Cinryze for expanded use in paediatric patients aged 6 and up. During the projected period, Asia Pacific is predicted to grow at the fastest rate. The market in the region is likely to be driven by rising patient awareness and the introduction of newer medicines for the treatment of hereditary angioedema.
Key Market Players
The major players in the market are Shire Plc (Takeda), BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), Ionis Pharmaceuticals, Inc., Pharming Group N.V., CSL Limited, Attune Pharmaceuticals, Inc., Adverum Biotechnologies, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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