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Global Hemochromatosis (Iron Overload) Disease Treatment Market 2024 Growth Rate, Latest Trends, Industry Insights And Forecast To 2033

04-19-2024 08:44 AM CET | Health & Medicine

Press release from: The Business Research Company

Hemochromatosis (Iron Overload) Disease Treatment Market

Hemochromatosis (Iron Overload) Disease Treatment Market

The hemochromatosis (iron overload) disease treatment market size has grown steadily in recent years. It will grow from $26.85 billion in 2023 to $27.91 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to clinical awareness and diagnosis, therapeutic advancements, genetic screening and early detection, prevalence of hereditary hemochromatosis, research and clinical trials..

The hemochromatosis (iron overload) disease treatment market size is expected to see steady growth in the next few years. It will grow to $31.69 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to personalized medicine approaches, advancements in therapeutic innovation, increased screening and awareness programs, collaboration in genetic research, global health initiatives.. Major trends in the forecast period include focus on patient education and awareness, exploration of genetic and molecular therapies, telemedicine and remote monitoring services, integration of digital health platforms, global expansion of treatment accessibility..

Market Overview -
Hemochromatosis is a genetic disorder characterized by the excessive absorption and storage of iron in the body, including the liver, heart, pancreas, and joints, which can result in serious health complications. The treatment aims to manage iron levels and prevent complications with the help of early detection of the disease.

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Rising Anemia Prevalence Fuels Growth In The Hemochromatosis (Iron Overload) Disease Treatment Market
The increasing presence of anemia is expected to propel the growth of the hemochromatosis (iron overload) disease treatment market going forward. Anemia is a blood disorder that refers to a reduced number of red blood cells (RBCs) or a decreased amount of hemoglobin in the blood, resulting in an inability to carry oxygen to the body's organs and tissues. Hemochromatosis (iron overload) disease treatment aims to prevent anemia with the help of iron chelator medications by preventing organ damage and complications associated with blood disorders. For instance, in June 2021, according to the Leukemia Foundation, an Australia-based national charitable organization, more than 110,000 people were diagnosed with blood disorders. Further, almost 275,000 Australians are predicted to have blood disorders by 2035. Therefore, the increasing presence of anemia will drive the growth of the hemochromatosis (iron overload) disease treatment market.

Competitive Landscape -
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.

Innovative Iron Chelator Medications Drive Advancements In Hemochromatosis Disease Treatment
Major companies operating in the hemochromatosis (iron overload) disease treatment market focus on developing unique treatments, such as iron chelator medications, to address the increasing demand for effective therapies and gain a competitive edge. Iron chelator medication plays a significant role in hemochromatosis (iron overload) disease by binding excess iron in the body and facilitating its removal by forming stable complexes with iron ions. For instance, In September 2021, Chiesi Farmaceutici S.p.A., an Italy-based pharmaceutical company, launched FERRIPROX (deferiprone) in Brazil, the first iron chelation therapy in 15 years, which was approved by the Food and Drug Administration (FDA), a US-based government agency. It is an iron chelator used to treat excess iron levels from blood transfusions in patients with thalassemia syndromes, sickle cell disease, or other anemias. Ferriprox removes extra iron from the body by reacting to it and excreting it in the feces and urine.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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