Hemochromatosis Treatment Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation by Type of Disorders, Treatment, End-User, and Region

Hemochromatosis Treatment Market size was valued at USD 901 Mn. in 2022 and the total Hemochromatosis Treatment revenue is expected to grow by 6 % from 2022 to 2029, reaching nearly USD 1354.8 Mn.
Hemochromatosis Treatment Market Overview:
Hemochromatosis is a condition in which excess iron accumulates in the body in dangerous amounts. Without therapy, hemochromatosis can lead to iron overload, an accumulation of iron that can harm the patient’s liver, heart, pancreas, endocrine glands, and joints. The most common treatment for hemochromatosis is phlebotomy or venesection, which involves removing some of the patient's blood. The procedure is similar to that of blood donation.

A needle is used to drain a small amount of blood, usually about 500ml, from a vein in the patient's arm. On a primary level, this procedure is preferred by the majority of healthcare workers and doctors, which is driving the hemochromatosis treatment market. Chest radiography and echocardiography, as well as CT scanning and, in some situations, MRI, can all be used to identify hemochromatosis. Hemochromatosis patients can be assessed with diagnostic endoscopy, cutaneous endoscopy, and liver biopsy.

Increased awareness and diagnosis of hemochromatosis disorders, as well as an increase in healthcare spending, will contribute to the growth of the hemochromatosis treatment market. Early illness detection and increased financial investment in R&D activities by leading market players will boost the growth of the hemochromatosis treatment market during the forecast period. On the contrary, increased research and development with technologically sophisticated treatment alternatives will create various chances that will kickstart the global hemochromatosis treatment market throughout the forecast period. The market for hemochromatosis treatment would be hampered by stringent regulatory processes and a lack of accessibility.To know about the Research Methodology :- Request Free Sample Report
Hemochromatosis Treatment Market Dynamics:
Hemochromatosis Treatment Market Drivers

Increasing use of treatment test for overload iron is strengthening the market

The two most important tests for detecting iron excess are:

Saturation of serum transferrin: This test determines the quantity of iron linked to a protein (transferrin) in your blood. Saturation levels of transferrin greater than 45% are considered excessive.
Ferritin in the blood: This test determines how much iron is stored in your liver. If your serum transferrin saturation test results are higher than expected, your doctor will evaluate your serum ferritin.

Because increased ferritin can be caused by a variety of other illnesses, both blood tests are frequently aMnormal in adults with this disorder and are best administered after patients have fasted. Elevations in one or more of these iron blood tests can be detected in various illnesses. For the most reliable results, the tests may need to be repeated. The ongoing development of improved distribution channels and new manufacturing hubs by key players in growing markets such as Brazil, India, and China is expected to drive the hemochromatosis treatment market. The growing number of pipelines for hemochromatosis treatment pharmaceuticals around the world continues to fuel market growth.

Technological advancements in the detection of liver disease

Glycocholic acid (GCA) is a biomarker for liver illnesses, however, there have only been a few easy naked-eye detection methods documented to date. To develop a new monoclonal mouse antibody (mAb) against GCA, a hybridoma approach is used. The anti-GCA mAb was highly specific, with little cross-reactivity with seven structurally and functionally comparable GCAanalogs. Using an anti-GCA mAb and a modified red-colored bacterial strain, a simple naked-eye observable technique for GCA detection was developed (Staphylococcus aureus, S. aureus). This method of identifying GCA with only your eyes takes only a few minutes and does not necessitate the use of any expensive equipment. It is a simple, rapid, and convenient method for detecting GCA in order to diagnose liver diseases. As a result of the previous remarks, the hemochromatosis treatment market is expected to drive during the forecast period.
Hemochromatosis Treatment Market Restraints
Lack of skilled professionals hampering the market

When performed by a trained professional, hemochromatosis treatment is a risk-free procedure. According to the MMR, the hemochromatosis treatment market is being hampered by a shortage of skilled professionals in the healthcare industry in comparison to the growing number of patients. Furthermore, due to age-related changes in the body, the procedure becomes technically difficult for patients over the age of 75.

Hemochromatosis Treatment Market Opportunity

Increasing investment in research and development

Increased R&D efforts by medical technology companies as a result of rising illness prevalence, as well as a simple approval process for those devices by regulatory authorities, are likely to drive hemochromatosis treatment market growth in the forecast years. According to an article released by the Regulatory Affairs Professionals Society, the US Food and Drug Administration's (FDA) Center for Products and Radiological Health (CDRH) approved or authorized 13 devices in 2022. (RAPS). Furthermore, rising R&D spending by pharmaceutical, biopharmaceutical, and medical device firms is boosting the hemochromatosis therapy market during the forecast period.

Emerging economies to support the market

Opportunities abound in emerging markets such as China, Brazil, Mexico, and India. Participants in the hemochromatosis treatment market Medical equipment are in great demand in these countries populations, which are expanding due to rapid increase in medical tourism, a growing population, and rising disposable incomes. These countries have a large and well-educated labor force as well. They have a great potential for growth and outperform the market in terms of return on investment. Furthermore, these countries have liberal import/export policies and are underserved in most areas, which could benefit firms in terms of brand development. Government subsidies and expenditures, as well as taxation These countries' relaxations, may also promote company growth.
Hemochromatosis Treatment Market Segment Analysis:
Based on Type of Disorders, The hemochromatosis treatment market is divided into four types of disorders Hereditary (classic) hemochromatosis (HFE), Hemochromatosis type 2 (juvenile hemochromatosis), Hemochromatosis type 3 (TFR2), Hemochromatosis type 4 (ferroportin disease). In 2022, the Hereditary (classic) hemochromatosis (HFE) segment dominated the hemochromatosis treatment market.

Hereditary hemochromatosis (HH) is a broad name for a group of rare hereditary illnesses defined by iron accumulation in numerous organs of the body, including the liver, heart, and pancreas. The inappropriately stored iron can cause organ damage, potentially resulting in a range of symptoms. Moreover, Hereditary hemochromatosis is the most common autosomal recessive condition in whites, affecting one in every 300 to 500 people. Types 2, 3, and 4 hereditary hemochromatoses are found globally, while type 1 is more common in people of northern European heritage.

Based on the Treatment, In 2022, phlebotomy dominated the hemochromatosis treatment market. The segment benefits from phlebotomy, which is used to treat hemochromatosis. Extracting blood from the patient on a regular basis, this approach has kept the iron levels in the blood under control. A similar operation is giving blood. Phlebotomy is a straightforward, low-cost, and risk-free profession. Like traditional blood donation, phlebotomy is usually done in blood banks.

People who have not yet developed issues due to an overabundance of iron can benefit from phlebotomy. It may also allow patients to live a regular life expectancy. For example, phlebotomy can aid in the prevention of cirrhosis and its potentially fatal consequences, such as liver cancer. Poor liver function, liver enlargement, and liver discomfort are all treatable or ameliorable disorders. As a result of the above assertions, the market segment is expected to hold the highest market share during the forecast period.Based on the End-User, The Hospital Segment dominated the hemochromatosis treatment market, and this trend is expected to continue during the forecast period. The hospital segment's dominance is due to the availability of a larger patient pool, high resource availability, high penetration in diverse geographical locations, availability of accompanying healthcare infrastructure and procedures, availability of skilled labour, and affordability through government funding. Hereditary hemochromatosis cases are growing, as are fatalities from hemochromatosis disorders in both developed and emerging countries.

Hospitals attract a big patient population suffering from hemochromatosis illnesses due to their better accessibility and affordability when compared to specialty clinics. The profitability index of hospitals rises as a result of bulk purchase discounts and trade agreements with manufacturers and suppliers. Furthermore, these trade agreements provide new routes for manufacturers to timely upgrade and acquire early access to technologically advanced items, boosting the hospital's treatment capability.

Hemochromatosis Treatment Market Regional Insights:

Europe dominated the Hemochromatosis Treatment market in 2022 and is expected to do the same during the forecast period. Europe is expected to have the largest market share of 55% by 2029. This is because hemochromatosis is so common in Northern Europe. The prevalence of hemochromatosis is highest in Ireland and Italy, with prevalence rates ranging from 1 in 200 to 1 in 400 or higher.

North America is expected to dominate the hemochromatosis treatment market during the forecast period, accounting for 35% of the market. The existence of significant players, the high frequency of hemochromatosis patients in the region, and the established healthcare infrastructure are some of the primary factors attributed to its significant market share. Positive government efforts and an increase in the number of research partnerships are also expected to fuel market growth. Because of growing awareness of the illness, an increasing number of persons with the hemochromatosis gene, and increased birth rates due to genetic variability within the population, the United States has the highest percentage.
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Hemochromatosis Treatment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 901 Mn.


Forecast Period 2023 to 2029 CAGR:
6%
Market Size in 2029:
US $ 1354.8 Mn.


 Segments Covered:
by Type of Disorders
Hereditary (classic) hemochromatosis (HFE)
Hemochromatosis type 2 (juvenile hemochromatosis)
Hemochromatosis type 3 (TFR2)
Hemochromatosis type 4 (ferroportin disease)


by Treatment
Phlebotomy
Chelation Therapy
Surgery


by End-User
Hospitals
Clinics
Ambulatory surgical centers



Hemochromatosis Treatment Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Hemochromatosis Treatment Market Key Players
1. Abcam plc.
2. ApoPharma Inc.
3. Apotex Inc.
4. Camber Pharmaceuticals, Inc.
5. CHIESI FARMACEUTICI S.p.A
6. DisperSol Technologies LLC.
7. Fresenius Kabi
8. Genzyme Corporation
9. Ionis Pharmaceuticals
10.La Jolla Pharmaceutical Company
11.Merck KGaA
12.Novadoz Pharmaceuticals
13.Novartis
14.Pfizer Inc.
15.Protagonist Therapeutics
16.Shire Plc.
17.Silence Therapeutics plc
18.Teva Pharmaceuticals USA, Inc.,
19.Vifor Pharma

Frequently Asked Questions:

1] What segments are covered in the Global Hemochromatosis Treatment Market report?
Ans. The segments covered in the Hemochromatosis Treatment Market report are based on the Type of Disorders, Treatment, and End-User.

2] Which region is expected to hold the highest share in the Global Hemochromatosis Treatment Market?
Ans. The Europe region is expected to hold the highest share in the Hemochromatosis Treatment Market.

3] What is the market size of the Global Hemochromatosis Treatment Market by 2029?
Ans. The market size of the Hemochromatosis Treatment Market by 2029 is expected to reach US$ 1354.8 Mn.

4] What is the forecast period for the Global Hemochromatosis Treatment Market?
Ans. The forecast period for the Hemochromatosis Treatment Market is 2023-2029.

5] What was the market size of the Global Hemochromatosis Treatment Market in 2022?
Ans. The market size of the Hemochromatosis Treatment Market in 2022 was valued at US$ 901 Mn.