Hereditary Hemochromatosis Market
Number of pages: 100 | Report Format: PDF | Published date: April 24, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 315.94 million |
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Revenue Forecast in 2031 |
US$ 511. 21 million |
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CAGR |
6.2% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Type, Drug Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global hereditary hemochromatosis market was valued at US$ 315.94 million in 2022 and is expected to register a revenue CAGR of 6.2% to reach US$ 511. 21 million by 2031.
Hereditary Hemochromatosis Market Fundamentals
Hereditary Hemochromatosis is a genetic disorder that affects how the body processes iron. Normally, the body absorbs only as much iron as it needs from the food we eat and then eliminates the rest. However, in people with hereditary Hemochromatosis, the body absorbs too much iron from the diet and stores it in various organs, such as the liver, pancreas, and heart. Over time, this excess iron can cause damage to these organs and lead to serious health problems, such as liver disease, diabetes, and heart failure. Hereditary hemochromatosis symptoms can vary widely, including fatigue, joint pain, abdominal pain, and skin discoloration. Hereditary Hemochromatosis is caused by mutations in one of several genes involved in regulating iron metabolism. The most common form of the condition is caused by mutations in the HFE gene, which is inherited in an autosomal recessive manner. The diagnosis of hereditary Hemochromatosis typically involves a combination of blood tests, imaging studies, and genetic testing. With proper hereditary hemochromatosis treatment, most people with hereditary Hemochromatosis can live normal, healthy lives.
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Hereditary Hemochromatosis Market Dynamics
The prevalence of hereditary Hemochromatosis is increasing globally, driving the growth of hereditary Hemochromatosis. As the number of patients diagnosed with the condition increases, the demand for diagnostic tests and treatments is expected to grow. According to the National Organization for Rare Disorders, for individuals of Northern European descent, the prevalence is estimated to be as high as 1 in 227 individuals in the general population. Approximately 10 percent of the Caucasian population is estimated to be a carrier for classic hereditary Hemochromatosis. Advancements in genetic testing have made it easier and more cost-effective to diagnose hereditary Hemochromatosis, thus increasing the number of patients diagnosed and treated. Healthcare professionals and the general public are growing with awareness of hereditary Hemochromatosis, leading to earlier detection and treatment of the condition. New treatments are being developed for hereditary Hemochromatosis, including iron chelation and gene therapy. These innovative treatments are fueling the hereditary hemochromatosis market growth. Governments worldwide are increasing their focus on rare diseases, including hereditary Hemochromatosis. This drives investment in the research and development of novel drugs for treating hereditary Hemochromatosis. As healthcare expenditure continues to rise globally, the market for hereditary Hemochromatosis is expected to benefit from increased investment in diagnosis, treatment, and research.
However, limited treatment options are available for hereditary Hemochromatosis, restricting the hereditary hemochromatosis market revenue growth. Treatment for hereditary Hemochromatosis can be expensive, especially for patients without adequate insurance coverage. Moreover, Patients with hereditary Hemochromatosis may seek alternative therapies, such as herbal supplements or dietary changes, which is also expected to hamper the hereditary hemochromatosis market revenue growth.
Hereditary Hemochromatosis Market Ecosystem
The global hereditary hemochromatosis market is analyzed from four perspectives: type, drug type, distribution channel, and region.
Hereditary Hemochromatosis Market by Type
Based on the type, the global hereditary hemochromatosis market is segmented into HFE-related Hemochromatosis, juvenile Hemochromatosis, TFR2-related Hemochromatosis, and ferroportin disease.
The HFE-related hemochromatosis segment dominated the hereditary hemochromatosis market with the largest revenue share in 2022. HFE-related Hemochromatosis is the most common type of hereditary Hemochromatosis. This high prevalence drives demand for diagnostic tests and treatments. HFE-related Hemochromatosis can be diagnosed using genetic testing, which has become more widely available and affordable in recent years. This has led to earlier diagnosis and treatment of the condition. The treatment of HFE-related Hemochromatosis is well-established and includes therapeutic such as iron chelation therapy. This established treatment protocol contributed to the dominance of this segment in terms of revenue share. There is growing awareness of HFE-related Hemochromatosis among healthcare professionals and the general public, leading to earlier detection and treatment of the condition. A significant amount of research is focused on HFE-related Hemochromatosis, which has led to a better understanding of the disease and the development of new treatments. This research is also boosting segmental revenue growth.
The ferroportin disease segment accounted for a considerable hereditary hemochromatosis market revenue share growth in 2022. Ferroportin Disease is caused by a specific genetic mutation that affects the body's ability to export iron. The prevalence of ferroportin disease is increasing globally, driving this segment's revenue growth. As ferroportin disease is the second most common type of hereditary Hemochromatosis, the demand for diagnostic tests and treatments is expected to grow. This limited treatment option presents a significant unmet medical need, driving investment in research and development. New therapies are being developed for ferroportin disease, including iron chelators and hepcidin mimetics. These emerging therapies are expected to fuel the revenue growth of the ferroportin disease segment.
Hereditary Hemochromatosis Market by Drug
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Based on the drug, the global hereditary hemochromatosis market is segmented into deferoxamine, deferasirox, and deferiprone.
The deferiprone segment accounted for a significant revenue share of the hereditary hemochromatosis market. Deferiprone is often considered the first-line therapy for hereditary Hemochromatosis, typically the initial treatment prescribed for patients. Deferiprone effectively reduces iron overload and prevents organ damage in patients with hereditary Hemochromatosis. It has a high affinity for iron and can remove iron from tissues that other iron chelators may not reach. Deferiprone can cross the blood-brain barrier and remove excess iron from the brain, which is particularly important for patients with hereditary Hemochromatosis who may be at risk of developing neurological symptoms. Deferiprone has a short half-life, which means it is rapidly eliminated from the body and may be less likely to accumulate and cause toxicity over time. Moreover, Deferiprone has been available in some countries for several decades, which may have resulted in higher familiarity and comfort among healthcare providers.
The deferasirox segment accounted for the prominent hereditary hemochromatosis market revenue share in 2022. Deferasirox is an oral medication, which may make it more convenient for patients than other iron chelation therapies requiring intravenous administration. Deferasirox is effective in reducing iron overload and preventing organ damage in patients with hereditary Hemochromatosis. Deferasirox is available in various formulations, including dispersible tablets and film-coated tablets, which may provide flexibility in dosing and administration for healthcare providers and patients. Deferasirox has been shown to have a good safety profile over the long term, which may be important for patients who require iron chelation therapy for many years.
Hereditary Hemochromatosis Market by Distribution Channel
Based on the distribution channels, the global hereditary hemochromatosis market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the highest revenue share of the hereditary hemochromatosis market. Hospitals are often the primary location where patients with hereditary Hemochromatosis receive treatment, making hospital pharmacies a convenient source for necessary medications and supplies. Hospital pharmacies have specialized pharmacists and staff knowledgeable about hereditary Hemochromatosis and its treatment, ensuring patients receive appropriate medications and dosages. Hospital pharmacies have a formulary (a list of approved medications) that includes drugs specifically indicated for hereditary Hemochromatosis, ensuring patients have access to appropriate treatments. Hospital pharmacies may work closely with other healthcare providers involved in a patient's care, such as hematologists or gastroenterologists, to ensure that treatment is coordinated and optimized.
The online pharmacies segment is expected to register a lucrative revenue CAGR during the forecast period. Online pharmacies offer a convenient option for patients with difficulty accessing physical pharmacies due to location or mobility issues. Online pharmacies may offer a wider selection of medications and supplies for hereditary Hemochromatosis, allowing patients to find the specific products they need. Online pharmacies provide educational resources and information on hereditary Hemochromatosis and its treatment, helping patients to understand their condition better. Online pharmacies may offer lower prices for medications than physical pharmacies due to lower overhead costs and the ability to purchase medications in bulk. Ordering medications and supplies through online pharmacies is often straightforward and can be done from the comfort of a patient's home, which is also expected to propel segmental revenue growth.
Hereditary Hemochromatosis Market by Region
Based on region, the global hereditary hemochromatosis market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest hereditary hemochromatosis market revenue share. The prevalence of hereditary Hemochromatosis is rising in the North American region. According to the Centers for Disease Control and Prevention in the US, about 1 in 300 non-Hispanic White people has hereditary Hemochromatosis, which accounts for over 650,000 people. The North American population is aging, and hereditary Hemochromatosis is more common in individuals over 50. This demographic shift may increase the number of people diagnosed with the condition and requiring treatment. Advancement in genetic testing and diagnostic tools improves the identification and diagnosis of hereditary Hemochromatosis, leading to earlier detection and treatment. As awareness and diagnosis of the condition improve, the demand for treatments and management strategies is increasing, boosting regional revenue growth. Healthcare spending in North America is expected to continue to rise, with a particular focus on chronic disease management. This has increased the investment in R&D related to hereditary Hemochromatosis. The North American healthcare and research community work collaboratively to develop new and more effective treatments for hereditary Hemochromatosis, leading to improved patient outcomes. Moreover, the presence of the major market player in the region is also fueling regional revenue growth.
Hereditary Hemochromatosis Competitive Landscape
The prominent players operating in the global hereditary hemochromatosis market are:
Hereditary Hemochromatosis Strategic Developments
The expected size of the global hereditary hemochromatosis market in 2031 is US$ 511.21 million.
North America has the largest market revenue share in terms of revenue. Asia Pacific accounts for the fastest revenue CAGR, which can be considered the key growth region due to the surge in hereditary Hemochromatosis.
The prominent global hereditary hemochromatosis market players are Apotex Inc., ApoPharma Inc., Pfizer Inc., Novartis AG, and Chiesi Farmaceutici S.p.A.
The HFE-related hemochromatosis segment dominated the global hereditary hemochromatosis market.
During the forecast period, the revenue CAGR of the global hereditary hemochromatosis market is expected to be 6.2%.
*Insights on financial performance are subject to the availability of information in the public domain