Deferiprone Market Estimated To Hit The Value of US$ 37.8 Mn by 2028
SummaryThe Global Deferiprone Market is projected to be US$ 35.2 Mn in 2020 to reach US$ 37.8 Mn by 2028 at a CAGR of 0.9%. The first five-year cumulative revenue (2019–2023) is projected to be over US$ 177 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Deferiprone is an iron chelator specified for the treatment of patients with transfusional iron overload caused owing to thalassemia syndromes, mainly when the current chelation therapy is insufficient. Chelation therapy is utilized to remove the build-up of toxic metals from the body, such as lead, iron, mercury, and arsenic. It prevents patients from getting severe thalassemia symptoms.
The Global Deferiprone Market is projected to be US$ 35.2 Mn in 2020 to reach US$ 37.8 Mn by 2028 at a CAGR of 0.9%. The first five-year cumulative revenue (2019–2023) is projected to be over US$ 177 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Global Deferiprone Market: Market Dynamics
Increasing occurrence of life-threatening disease – thalassemia among the population is anticipated to bolster the growth of the global deferiprone market. Thalassemia affects approximately 4.4 of every 10,000 live births globally; thus, the rising incidence and prevalence of the disease are projected to upsurge the consumption of deferiprone.
However, the availability of other iron chelators, including deferasirox and deferoxamine, is also anticipated to challenge the growth of the global deferiprone market. A more comprehensive supply of these two drugs for the treatment of iron overload in patients, coupled with less severe side effects than deferiprone, is likely to hinder the growth of the deferiprone market to a certain extent.
Increasing government spending on healthcare, particularly in emerging economies, is also expected to affect the market growth of deferiprone indirectly. Besides, development and focus towards the provision and access to the populace in developing countries is likely to have a positive impact on the global deferiprone market
Global Deferiprone Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global deferiprone market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global deferiprone market is estimated to expand at a moderate CAGR of 0.9% during the forecast period.
Global Deferiprone Market: Segmental Snapshot
The market report has been segmented based on formulation, indication, and region/country. The product type segment includes tablets, oral solution, and capsule. The application segment includes transfusional iron overload, and NTDT caused the iron overload. The region covered in the analysis is North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By formulation: The oral solution segment is expected to register a CAGR of over 1.2%, but the tablet segment accounts for the highest revenue share among the formulation segments.
By indication: The NTDT caused iron overload segment is expected to register a CAGR of over 1.0% over the forecast period, but the transfusional iron overload segment accounting for the highest revenue share among the indication segments.
By region: The market in the United States accounted for the highest revenue share in the global deferiprone market in 2018 and is estimated to register a CAGR of over 0.6% between 2019 and 2028.
Global Deferiprone Market: Competitive Analysis
The research report on the global deferiprone market includes profiles of major companies such as Cipla Limited., Apotex Inc., Swedish Orphan Biovitrum AB (publ)., Genepharm S.A., Lipomed AG., Drug International Limited., Ambrosia Remedies (P) Ltd., and Focus Pharmaceuticals Limited.
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