Hemochromatosis Treatment Market: Global Industry Analysis and Forecast (2024-2030)

The Hemochromatosis Treatment Market size was valued at USD 26.85 Billion in 2023 and the total Hemochromatosis Treatment revenue is expected to grow at a CAGR of 3.62% from 2024 to 2030, reaching nearly USD 34.44 Billion by 2030.
Hemochromatosis Treatment Market Overview:
Hemochromatosis, also called iron overload, is a disorder in which the body stores too much iron. It is a common genetic condition and it is rarely diagnosed. It can cause serious damage to the body organs, including to heart, liver, pancreas, thyroid, joints, skin, gonads, and pituitary. Hemochromatosis affects both men and women. Men have hemochromatosis prevalences more than women. This is because women lose iron when they get their periods or have babies. Their bodies also store less iron compared to men. Hemochromatosis is also more common in older people because iron toxicity takes years to develop. In addition, according to the MMR analysis, hereditary hemochromatosis directly affects 1 in 300 people in the United States. As a result, the increasing prevalence of hemochromatosis is expected to increase the demand for better treatment thereby supporting the hemochromatosis treatment market size during the forecast period.

According to research by the Mayo Clinic and the National Heart, Lung, and Blood Institute (NHLB), demand for phlebotomy treatment is increasing in patients having acute and hereditary hemochromatosis owing to less damage to blood cells in the above-mentioned cases and less mortality rate of patients in hereditary hemochromatosis. This factor is expected to boost the hemochromatosis market growth all across the world. Moreover, many medical practitioners suggest phlebotomy treatment for ferritin levels below 30% which are commonly found in the hereditary and acute types of cases. In addition, increasing telehealth application penetration in the medical sector and increasing awareness towards hereditary diseases are the factors considered to drive the growth of the phlebotomy treatment trends in the market. According to the American Journal of In gastroenterology, more than 70% patients of with hereditary hemochromatosis are taking phlebotomy treatment.

Increased awareness and diagnosis of hemochromatosis disorders, as well as an increase in healthcare spending, is expected to contribute to the growth of the hemochromatosis treatment market. Early illness detection and increased financial investment in R&D activities by leading market players are expected to boost the hemochromatosis treatment market growth during the forecast period. On the other hand, 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. However, the hemochromatosis treatment market is expected to be hampered by stringent regulatory processes and a lack of accessibility.To know about the Research Methodology :- Request Free Sample Report
Hemochromatosis Treatment Market Trends:
Increasing complications of Liver Failure and Liver Cancer are Setting Trends for new Drugs Formulations

According to the John Hopkins Institute, more than 38% of patients who have developed cirrhosis after treatment of hemochromatosis have caused liver cancer or liver damage. Moreover, people above 60 years of age with hemochromatosis are more prone to liver cancer and the mortality rate of such people is approximately 52.6% in such cases. Owing to this increasing liver cancer crisis in hemochromatosis cases, formulations of new drugs for people above 60 years of age are getting popular in North America, Europe, and LATAM regions where more than 65% of hemochromatosis patients reside. Moreover, trends for medications with new drugs have impacted the phlebotomy treatment segment to a great extent during the forecast period. As a result, rising new drug formulations to treat hemochromatosis effectively is a key trend in the global hemochromatosis market.
Hemochromatosis Treatment Market Dynamics:
Increasing The Use Of Treatment Tests For Overload Iron Is Strengthening The Market

The two most important tests for detecting iron excess are Saturation of serum transferrin and Ferritin in the blood. The Saturation of serum transferrin is a test that determines the quantity of iron linked to a protein (transferrin) in blood. Saturation levels of transferrin greater than 45% are considered excessive. Ferritin in the blood determines how much iron is stored in the liver. If serum transferrin saturation test results are higher than expected, the doctor will evaluate serum ferritin.

Because increased ferritin can be caused by a variety of other illnesses, both blood tests are frequently abnormal 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 hemochromatosis treatment industry 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.

Increasing Investment In Research And Development

Increased R&D efforts by medical technology companies as a result of rising disease prevalence, as well as a simple approval process for those devices by regulatory authorities, are expected to drive hemochromatosis treatment market growth in the forecast period. 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.

Lack Of Skilled Professionals

Hemochromatosis is expected to be difficult to diagnose. Early symptoms such as stiff joints and fatigue may be due to conditions other than hemochromatosis. Severe hemochromatosis leads to serious health problems such as liver disease, heart problems, diabetes, etc. Effective management of hemochromatosis requires a multidisciplinary approach involving various healthcare professionals, such as primary care physicians, hematologists, gastroenterologists, and specialized nurses. In most cases, doctors treat hemochromatosis with phlebotomy, or drawing about a pint of blood at a time, on a regular schedule. The shortage of skilled professionals is the major factor restraining the hemochromatosis treatment market growth. The number of skilled professionals in the healthcare industry is expected to be low compared to the growing number of patients. The prevalence of hemochromatosis is further rapidly increasing due to age-related alterations in the body.

As the condition is detected at a mature age, the treatment procedure becomes technically difficult for patients over the age of 75. The shortage of skilled professionals further led to delays in diagnosis, complicating early detection and resulting in patients presenting with advanced disease stages that are harder to manage. Patient education on lifestyle changes and psychological support, both crucial for managing chronic conditions, are hindered by the lack of trained professionals. In rural and underserved areas, this shortage is more pronounced, leading to significant disparities in treatment outcomes. The strain on the healthcare system, with increased workloads and the challenge of training and retaining skilled professionals, further exacerbates the issue. As a result, this factor is hampering the global hemochromatosis treatment market size.

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 is in great demand in these countries' populations, which are expanding due to rapid increases in medical tourism, a growing population, and rising disposable incomes. These countries have a large and well-educated labor force as well. They have great growth potential 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 is expected to benefit firms in terms of brand development. Government subsidies and expenditures, as well as taxation These countries' relaxations, are further expected to promote company growth.
Hemochromatosis Treatment Market Segment Analysis:
Based on the Type of Disorders segment, the global hemochromatosis treatment industry is segmented by Primary Hemochromatosis and Secondary Hemochromatosis. Primary hemochromatosis occurs as a result of genetics. On the other end, secondary hemochromatosis is caused by other blood-related disorders like anemia or blood transfusions. According to the study the Primary Hemochromatosis segment held the largest market share of about 78.46% and dominated the hemochromatosis treatment market in 2023. The segment is further expected to grow at a significant CAGR during the forecast period.

Primary Hemochromatosis is the most common type of disease present at birth. It is the most common genetic disorder in the Western world, affecting an estimated 1 in 300 Canadians, primarily of Northern European descent. However, most people never experience symptoms until later in life, generally around the age of 40 in males and 60 in women. Women are more prone to experience symptoms after menopause when they no longer lose iron via menstruation and pregnancy. Thus, the primary hemochromatosis segment is generating the highest revenue share in the hemochromatosis treatment market during the forecast period.The Hereditary Hemochromatosis sub-segment generated the highest revenue in 2023. This growth is because this is the common primary hemochromatosis type mostly found in the European-origin population and almost always results from 2 mutations, H63D and C282Y. This results in a relatively large patient population requiring consistent medical attention, thereby supporting the segment's growth. The widespread availability of genetic testing for the HFE gene mutations, particularly the C282Y mutation, has led to early and accurate diagnosis, thereby increasing the number of diagnosed cases. In addition, a steadily increasing number of causative non-HFE hemochromatosis mutations are being identified and, like type 1 hemochromatosis, they have been most frequently described in patients originating from Europe, including Greece, Italy, and the United Kingdom. Thus, the growing prevalence of this disease is driving the hemochromatosis treatment market growth. Commonly recurring mutations include G320V in hemojuvelin and V162del in ferroportin.The secondary hemochromatosis segment is expected to grow at a CAGR of 2.89% during the forecast period. Secondary hemochromatosis is not inherited and is often referred to as iron overload. It happens because of excessive iron in the diet, erythropoiesis disorders, or the treatment of the disease with blood transfusions. People with certain types of anemia or liver disease may often need multiple blood transfusions. This can lead to excess iron buildup. The prevalence of secondary hemochromatosis has been experiencing substantial growth in recent years due to increasing anemia in people. This factor is expected to benefit the segment growth significantly. To treat secondary hemochromatosis in people, doctors prescribe medicines, called chelating agents, that bind to iron and allow it to pass from the body in urine. Chelating agents may be pills taken by mouth or intravenous (IV) medicines, and they do not remove iron as effectively as phlebotomy. Thus, increasing demand for chelating agents to treat hemochromatosis boosts the hemochromatosis treatment market size during the forecast period.
Hemochromatosis Treatment Market Regional Insights:
Europe dominated the global hemochromatosis treatment market with the highest market share of 37.75% in 2023 and is expected to grow at a CAGR of 4.21% during the forecast period. The high prevalence of hemochromatosis patients in the region is a major factor driving the Europe hemochromatosis treatment industry. According to the MMR analysis, hemochromatosis is most common among those of Northern European ancestry, in particular those of Celtic descent. C282Y homozygotes account for 82-90% of clinical diagnoses of hereditary hemochromatosis among persons of northern European descent.

The United Kingdom expected to generate lucrative revenue in Europe hemochromatosis treatment market during the forecast period, as hemochromatosis has become a common condition in recent years. Genetic hemochromatosis is the United States’ most common genetic condition, directly affecting nearly 380,000 people. Although it is ordinary, the condition is significantly underdiagnosed in the United States. In addition, The European countries with the highest prevalence include Ireland, Italy, France, and Denmark.The prevalence of hemochromatosis is highest in Ireland and Italy, with prevalence rates ranging from 1 in 200 to 1 in 400 or higher. According to the Irish Hemochromatosis Association (IHA), there are at least 20,000 undiagnosed cases of Hemochromatosis in Ireland in 2022. As a result, the increasing number of hemochromatosis patients in the region increases the demand for effective treatment options. Thus, this factor is expected to increase the hemochromatosis treatment market revenue growth in Europe, especially in Ireland.

In addition, Norway hemochromatosis treatment market is expected to be the lucrative market for hemochromatosis treatment providers during the forecast period. According to the MMR analysis, the prevalence in the ethnic Norwegian population of homozygous and heterozygous inheritance is 0.8% and 12 – 15% respectively, which makes hemochromatosis one of the most common hereditary diseases in Norway. Moreover, 1 in 113 people in Scotland, 1 in 10 people in Northern Ireland, 1 in 150 people in England, and 1 in 150 people in Wales are directly affected by this condition.North America is expected to hold the second dominant position in the global hemochromatosis treatment market during the forecast period. The existence of significant players, the high occurrence of hemochromatosis patients in the region, and the well-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 the North America hemochromatosis treatment 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.
Hemochromatosis Treatment Market Scope: Inquiry Before Buying



Hemochromatosis Treatment Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 26.85 Bn.


Forecast Period 2024 to 2030 CAGR:
3.62%
Market Size in 2030:
US $ 34.44 Bn.


 Segments Covered:
by Type Of Disorders
Primary Hemochromatosis
Hereditary Hemochromatosis 
Hemochromatosis Type 1 (HFE)
Hemochromatosis Type 2 (Juvenile Hemochromatosis)
Hemochromatosis Type 3 (TFR2)
Hemochromatosis Type 4 (Ferroportin Disease)
Secondary Hemochromatosis
Neonatal Hemochromatosis


by Treatment Type
Therapeutic Phlebotomy
Chelation Therapy
Others


by End-Users
Hospitals
Clinics
Ambulatory Surgical Centers
Research and Academic Institutes



Hemochromatosis Treatment Market by Region:
North America - United States, Canada, and Mexico
Europe - United Kingdom, France, Germany, Italy, Spain, Sweden, Russia, and the Rest of Europe
Asia Pacific - China, South Korea, Japan, India, Australia, ASEAN, and the Rest of APAC
Middle East and Africa - South Africa, GCC, and the Rest of ME&A
South America - Brazil, Argentina Rest of South America
Leading Hemochromatosis Treatment Market Key Players:
1. Novartis AG
2. Abcam plc.
3. ApoPharma Inc.
4. Apotex Inc.
5. Camber Pharmaceuticals, Inc.
6. CHIESI FARMACEUTICI S.p.A
7. DisperSol Technologies LLC.
8. Fresenius Kabi
9. Genzyme Corporation
10. Ionis Pharmaceuticals
11. La Jolla Pharmaceutical Company
12. Merck KGaA
13. Novadoz Pharmaceuticals
14. Pfizer Inc.
15. Protagonist Therapeutics
16. Shire Plc.
17. Silence Therapeutics plc
18. Teva Pharmaceuticals USA, Inc.,
19. Vifor Pharma
20. Multicity Medical Centre Bega
FAQs:
1. What are the growth drivers for the Hemochromatosis Treatment market?
Ans. The increasing prevalence of hemochromatosis is expected to be the major factor driving the Hemochromatosis Treatment market.

2. What are the factors restraining the global Hemochromatosis Treatment market growth during the forecast period?
Ans. stringent regulatory processes and a lack of accessibility are expected to be the major factors restraining the global Hemochromatosis Treatment market growth during the forecast period.

3. Which region is expected to lead the global Hemochromatosis Treatment market during the forecast period?
Ans. North America is expected to lead the global Hemochromatosis Treatment market during the forecast period.

4. What is the projected market size and growth rate of the Hemochromatosis Treatment Market?
Ans. The Hemochromatosis Treatment Market size was valued at USD 26.85 Billion in 2023 and the total Hemochromatosis Treatment revenue is expected to grow at a CAGR of 3.62% from 2024 to 2030, reaching nearly USD 34.44 Billion by 2030.

5. What segments are covered in the Hemochromatosis Treatment Market report?
Ans. The segments covered in the Hemochromatosis Treatment market report are Type Of Disorders, Treatment Type, End-Users, and Region.