Global Iron Chelation Drug Market Forecast, Trend Analysis And Competition Tracking - Global Market insights 2015 to 2031

Global Iron Chelation Drug Market Introduction:

The removal of excess iron from the body using specific drugs is called iron chelation drug. This therapy is required by patients with iron overload and low hemoglobin at the same time. In several conditions such as thalassemia major, MDS(Myelodysplasic Syndromes), sickle cell disease, enzyme disorder, cancer, amenia with iron overload is prominent. The iron chelation drug depends on the patient's health, tissue iron levels, hematologic values, hemoglobin level.

Positive Impact On The Market Revenue Growth

Increasing incidence and prevalence of hemoglobin disorder is also called hemoglobinopathies among children. This rare blood condition affects red blood cells and changes the structure or production of the hemoglobin molecule. This is expected to boost the market growth of iron chelation drugs over the forecasted period.

• According to WHO, the sickle cell anemia affects about almost 90,000 to 100,000 people in the United States, including one in every 500 African-American babies and one in every 36,000 Hispanic babies.

Furthermore, government and private agencies' initiative and awareness program about the major health issues incorporated with extra iron in the body is leading people towards early detection and treatments associated with iron overload. The growing healthcare sector and investments to expand and provide maximum individuals with health facilities are expected to fuel the iron chelation drug market revenue growth.

Restraining Factors That Limit The Market Revenue Growth To A Certain Extent

Iron chelation drug's reactions include visual disturbances, rash, itching, diarrhea, stomach cramps, hypotension, anaphylactic shock, blurred vision, and some long-term problems such as liver or kidney damage, cataracts, and loss of hearing. This has led to fear among patients for treatment and is expected to hinder the market growth of iron chelation drugs to a certain extent.

COVID-19 Impact on Global Iron Chelation Drug Market

The outbreak of COVID-19 has negatively impacted almost all industries across the world. Chemical industries have been immensely affected in China and India. This novel virus has caused unprecedented damage to international trade and the global economy as a whole. As this deadly virus continues to wreak havoc, it has left several industries and economies in a stage of uncertainty and market volatility in its wake. It has also put a strain on investments and scheduled plans across various sectors. At the nexus of this pandemic, China’s impaired manufacturing and production operations have adversely affected global supply chains as a whole, leaving them in absolute disarray. These respective imposed shutdowns/lockdowns meant to slow the trajectory of this virus have resulted in the crashing of economic outputs, further causing financial market panic and curtailing general travel, leisure and social living than most severe wars have. During the first half of 2020, a sharp decline in economic activities caused the global economy to shrink by 3%, only to recover in the second half of that year partially. With the abatement of the second wave and increased vaccination initiatives, there are visible signs of improvement across various sectors based in numerous countries. This is also another primary factor that is expected to negatively influence future revenue growth prospects for the global Smart Nanomaterial market. A potentially looming economic recession is also likely to affect future investments in this sector adversely.

Global Iron Chelation Drug Market Dynamics

The global iron chelation drug market is segmented into type, application, and regions. The type segment includes deferoxamine, deferiprone, and deferasirox. The deferoxamine segment accounts for the highest revenue share among the type segments, owing to treating acute iron poisoning in adults and children. The application segment includes transfusional iron overload, and NTDT caused an iron overload. The transfusional iron overload segment accounts for the highest revenue share among the application segments, owing to transfusional iron overload therapy being widely used to treat patients with severe anemic syndromes such as thalassemia.

Among the regional markets, the North American market is expected to account for significant revenue share and is projected to maintain its dominance in the global market over the forecast period. This is due to rising healthcare expenditure as well as higher investment in medical infrastructure coupled with an increasing number of people suffering from patients with sickle cell disorder, myelodysplastic syndromes, and other blood-related diseases.

Global Iron Chelation Drug Market Segmentation:

Based on the Type:

• Deferoxamine
• Deferiprone
• Deferasirox

Based on the Application:

• Transfusional Iron Overload
• NTDT Caused Iron Overload

Key Players in the Global Iron Chelation Drug Market are:

• Apotex Inc.
• Cipla
• Novartis
• Sun Pharma
• Natco Pharma
• Other Key Industry Players

Research Scope:

Forecast Period: 2022-2031

Actual Year: 2021

Historical Data Available for: 2015-2020

Key Regions Covered

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Peru
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Israel
  • Rest of MEA