Deferiprone Market 2021 | Global Analysis, Latest Industry Trends, Recasts Revenue Growth At Global & Country Level, Size, Share, Demand, Challenges And Sub-Segments From 2021 To 2026

SEATTLE, April 08, 2021, (PHARMIWEB) — Global Deferiprone Market

Deferiprone is an FDA-approved drug that is majorly used to treat transfusion-dependent thalassemia and a wide range of disorders. Deferiprone is a type of hydroxypyridinone iron chelator that was synthesized by Dr. Kontoghiorghes in the mid-1980s. Iron is essential for survival for almost all species on Earth. When the body is in a primary iron overload condition (hemochromatosis) or a secondary condition (transfusion-dependent thalassemia), due to the inactivity of the iron excretion mechanism, massive accumulation of possibly toxic substances takes place, which is followed by iron-induced early death.

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The deferiprone drug works by binding the iron chelator with ferric ions (iron III), forming a stable complex, which is further eliminated through urine passing. Selectivity of deferiprone is more towards iron than other metals, such as copper, aluminum, and zinc. These drugs are available in the market in various forms, such as tablets, oral solutions, and capsules. According to the 2015 prescribing information laid down by the FDA, the initially recommended dose for an oral solution of deferiprone is 25 mg, three times per day. Adjustment of the dose can be personalized as per individual therapeutic goals and the patient’s response to the treatment. However, the maximum dosage is 33 mg/kg, three times per day.

Global Deferiprone Market Insights

Rising incidence of hemochromatosis across the globe is one of the greatest factors propelling the growth of the global deferiprone market. It was reported on the American Diabetes Association website that hereditary hemochromatosis is the most widespread single-gene disease among the Western population, affecting at least one out of every 200 to 300 people. Moreover, the increasing prevalence of transfusion-dependent thalassemia is predicted to fuel the demand for deferiprone globally. According to the World Health Organization’s 2008 bulletin, around 1.1% of couples worldwide are at a risk for having children with a hemoglobin disorder, and around 2.7 per 1,000 conceptions have recorded this disorder till date.

Furthermore, increasing healthcare initiatives and increased funding by government, as well as private agencies are anticipated to accelerate market growth. For instance, the UAE government reportedly initiated a new nationwide campaign to endorse the premarital screening in 2008. Since its inception, the premarital screening has been made mandatory for all married couples in the region, as it provides information about the risk of conceiving a child suffering from thalassemia.

However, adverse reactions, such as agranulocytosis, chromaturia, nausea, vomiting, and abdominal pain, associated with the use of deferiprone is a significant factor likely to hamper the global market growth.

Global Deferiprone Market – Regional Insights

North America accounts for a major market share in the global deferiprone market, owing to the presence of improved medical facilities in the region, wide adoption of innovative products, and rising awareness among the populace. Moreover, high government support for the population is further propelling the regional market growth. As per a study published in the American Journal of Public Health 2016, the U.S. government spending on healthcare accounted for US$ 5,960 per capita, which was the highest investment recorded in the year 2013.

Innovative product development is supporting the healthcare infrastructure in Asia Pacific, as leading global pharmaceutical manufacturers are investing heavily in the region. This is therefore fueling the deferiprone market development in the region. For instance, in 2014, Cipla, an Indian multinational pharmaceuticals and biotechnology company, invested around US$ 99,045,000 in Asia Pacific for research and development purposes.

Global Deferiprone Market – Competitive Landscape

Two of the major players operating in the global deferiprone market are Apotex and Cipla Limited. These companies are actively engaged in the adoption of various growth strategies, such as mergers, collaborations, acquisitions, and introduction of new products, in order to strengthen their positions in the global market. For instance, in 2016, Cipla limited completed its US$ 550-million acquisition of generic drug key manufactures, Exelan Pharma and InvaGen. This acquisition reinforced Cipla Limited’s U.S. business, by providing the company with 32 marketed products, 40 approved abbreviated new drug applications (ANDAs), and a robust pipeline of 30 products.

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Market Taxonomy

On the basis of drug form:

• Tablets
• Oral Solutions
• Capsules

In terms of application:

• Transfusional Iron Overload
• NTDT-caused Iron Overload

By distribution channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

On the basis of geography:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

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