Iron Metabolism Disorders Drugs Market
The global iron metabolism disorders drugs market in 2020 is estimated for more than US$ 1.9 Bn and expected to reach a value of US$ 3.2 Bn by 2028 with a significant CAGR of 7.2%
Meridian Market Consultants (MMC) has published a new report titled, “Iron Metabolism Disorder Drugs Market: Opportunity Analysis and Future Assessment 2020 to 2028”
Global Iron Metabolism Disorder Drugs Market, by Indication (Anemia, Haemochromatosis), By Drug Types (Haemochromatosis –further segmented into Desferrioxamine mesylate, Diuretics, ACE Inhibitors; Anemia – further sub-segmented into Iron Supplements, Vitamin B supplements), By Distribution Channel (Hospital Pharmacy, Clinics, Retail Pharmacy, Drug Stores), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
As per the report, the increasing prevalence of anemia and hemochromatosis is attributed to the growth of the global iron metabolism disorder drug market. As per World Health Organisation (WHO), anemia affects approximately 1.62 billion people across the globe. This constitutes a 24.8% population of the world. The highest prevalence of anemia is found in preschool-age children. The highest number of individuals affected with anemia is non-pregnant women. Anemia is defined as a low level of hemoglobin in the blood, as evidenced by fewer numbers of functioning red blood cells.
Hemochromatosis is a genetic disorder characterized by increased absorption of dietary iron from the intestine. This excess iron accumulates in tissues and organs and interferes with their normal function. According to the Haemochromatosis International organization, haemochromatosis is the most common genetic disorder. About 1 in 200 European people have a genetic risk for hemochromatosis. If undetected and untreated hemochromatosis can lead to premature death. Hemochromatosis is often undiagnosed because its symptoms are similar to those caused by a range of other illnesses. Under-diagnosis of haemochromatosis may present challenges to the growth of the iron metabolism disorder drugs market. However, if hemochromatosis is detected before damage occurs, it can be easily treated.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the market for iron metabolism disorder drugs is expected to witness moderate growth over the forecast period. The growth is mainly driven by increased awareness towards iron metabolism disorders treatment and expanding access to treatment. Iron is an essential element for numerous fundamental biologic processes.
About 10% of the dietary iron is absorbed each day. Greater iron utilization via growth in childhood, greater iron loss with minor hemorrhages, menstruation in women, and greater need for iron in pregnancy will increase the efficiency of dietary iron absorption to 20%. Iron metabolism is regulated by hepcidin. Fluctuation in hepcidin levels in the body is attributed to the development of iron metabolism disorders.
Fluctuation in hepcidin levels can be a result of inflammation or some genetic mutations. Iron metabolism disorder caused due to low levels of iron in the body is treated with iron supplements and vitamin B supplements. Iron metabolism disorder caused by excessive levels of iron in the body such as haemochromatosis is treated with long-term administration of desferrioxamine mesylate. Organ damage due to iron metabolism disorder is treated with diuretics and ACE inhibitors.
Some of the key participating players identified in the study are Pfizer Inc., Novartis AG, Fresenius Kabi, Apopharma Inc., Gland Pharma Limited, Cipla, Abbott, Nestle, Pharmascience Inc., Bedford Pharmaceuticals, etc. among others.
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