Deferiprone Market Size, Share, Growth, and Industry Growth by Type (Tablet, Oral Solution, and Capsule), By Application (Transfusional Iron Overload and NTDT Caused Iron Overload), Regional Forecast To 2031

Updated On: 01 April 2024

Deferiprone Market REPORT OVERVIEW

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The global deferiprone market size was USD 37 million in 2022 and market is projected to touch USD 49.60 million by 2031, exhibiting a CAGR of 3.3% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Deferiprone is a bidentate ligand that chelates iron and is used to remove excess iron from the body. It is a prescription that is used to treat people with thalassemia syndromes who suffer from iron overload due to blood transfusions when chelation does not work properly. Chelation therapy is used in the removal of toxic build-up of toxic metals such as mercury, iron, arsenic, and lead. It binds iron in a 3:1 molar ratio. It helps in prevention of getting severe thalassemia symptoms. It is also being investigated for clinical uses in diseases of iron overload.   

The growing demand for deferiprone is growing owing to medical concerns regarding thalassemia syndromes. Rising demand from the medical and pharmaceutical industry is expected to drive the market growth. Growth in the demand is attributed to its increasing clinical uses in treating systemic iron overload. Various research and development activities regarding the medication are expected to drive the market growth. Demand from the pharmaceutical industry and adoption of personalized medicine amongst the population is anticipated to drive the product demand.   

COVID-19 Impact: Halt on Production Activities to Hamper Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global deferiprone market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, various industries were impacted and the pharmaceutical industry was one of them. Halt on the production activities of the medication affected the demand in the market. Disruptions in the supply chains affected the supply of the raw materials and also affected the demand for the medications. On the contrary, various R&D activities continued during the pandemic which helped in making various advancements for the product. Partnerships amongst the market players helped in creating the demand for the product and also helped in creating supply of the product to consumers.  

LATEST TRENDS

"Various R&D Activities to Facilitate Market Progress"

The global deferiprone market growth is anticipated to boost owing to various research studies and development activities.  Various studies to examine the efficacy of the ferriprox in reduction of iron concentrations in heart muscle. It has been proven that ferriprox is majorly more effective in removal of excess iron concentrations in the heart. Effects can be seen as there has been an improvement in the cardiac function. These studies are expected to boost the adoption of the correct medication. Such studies and research activities are expected to drive the demand in the medical sector. It is also expected to pose an opportunity for market growth during the forecast period.

Deferiprone Market SEGMENTATION

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• By Type

Based on type; the market is divided into tablet, oral solution, and capsule.

• By Application

Based on application; the market is divided into transfusional iron overload and NTDT caused iron overload.

DRIVING FACTORS

"Treatment of Thalassemia Syndrome to Support Product Demand"

The global deferiprone market growth is anticipated to boost owing to treatment of thalassemia syndrome. Thalassemia is a blood disorder that is inherited which causes the body to have less hemoglobin than normal. Deferiprone monotherapy is the treatment of iron overload in those with thalassemia major when chelation therapy is inadequate. It is an active iron-chelation agent that is used to treat for iron overload in thalassemia major. Such treatments can prevent death and improve the lives of patients. It also promotes normal development in the human body. Such demand from the medical industry is anticipated to drive the market growth.

"Demand from the Pharmaceutical Industry to Expand Market Growth"

Medication for deferiprone is sold under the name of ferriprox. It is prescription medicine that is used to treat iron overload from blood transfusions from patients who have sickle cell diseases, thalassemia syndrome, and other anemias. Demand for ferriprox from the pharmaceutical industry is expected to drive the market size. The medication is taken under the supervision of doctors and correct doses of the medication are expected to treat disease. Such usage of the medication is anticipated to drive the market growth during the forecast period.     

RESTRAINING FACTORS

"Harmful Side Effects to Impede Market Growth"

There are a number of factors that can push the growth of the deferiprone market. Restraining factors such as harmful side effects on health such as nausea, vomiting, weight gain, stomach pain, heartburn, and other side effects. The medication may also cause the urine to turn reddish-brown in color. Such harmful health side effects are anticipated to restrict and limit the market growth.

Deferiprone Market REGIONAL INSIGHTS

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"North America to Dominate Market Owing to Increasing Consumption of the Product "

North America holds the largest part of the global deferiprone market share due to the largest consumption of deferiprone in the region. The demand for the product and medication is owed to increasing medical cases of thalassemia syndrome. Presence of market players in the region is anticipated to drive the market growth. Increasing R&D activities regarding the product is also estimated to expand the demand and adoption of the product in the forecast period. Growth in healthcare infrastructure and development of various healthcare practices are projected to boost the demand and market growth. Precision therapies offered and adopted by various pharmaceutical companies are also expected to fuel market share of the region. Offering of personalized medicines by various pharmaceutical companies is also projected to drive the demand for the product.     

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Apotex (Canada)
• Cipla (India)

INDUSTRIAL DEVELOPMENT

September 2020: Taro Pharmaceuticals announced their partnership with BioPlus to make them the exclusive dispenser. They are the exclusive dispenser for the new specialty generic medication of deferiprone. Taro Pharmaceuticals chose BioPlus as their exclusive distributor for this medication.

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.