Wilmington, Delaware, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Deferiprone Market by Form (Tablets and Others), Application (Transfusional Iron Overload and NTDT Caused Overload.), and Distribution Channel (Hospital Pharmacies, Drug store & retail pharmacies and Online providers): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the deferiprone market was valued at $33.4 million in 2023, and is estimated to reach $45.9 million by 2033, growing at a CAGR of 3.2% from 2024 to 2033.
The global deferiprone market is experiencing growth due to an increase in the iron load disorders population and R & D investments.
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Prime determinants of growth
The global deferiprone market is experiencing growth due to several factors such as increasing incidence of iron overload disorders, such as thalassemia major and sickle cell disease, which require regular blood transfusions leading to iron overload, is rising. This drives the demand for effective iron chelation therapies such as deferiprone. Continued research and development in iron chelation have enhanced the efficacy and safety profiles of deferiprone, making it a preferred choice for managing iron overload. In addition, recent regulatory approvals and expanded indications for deferiprone in various regions have broadened its availability and application, contributing to market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2035 |
| Base Year | 2023 |
| Market Size in 2023 | $33.37 million |
| Market Size in 2033 | $45.90 million |
| CAGR | 3..2% |
| No. of Pages in Report | 280 |
| Segments Covered | Form, Application, Distribution Channel, and Region. |
| Drivers |
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| Opportunities |
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| Restraint |
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Segment Highlights
Tablets segment dominated the market in 2023
The tablets segment is expected to dominate the global deferiprone market due to several compelling reasons. Tablets are easy to administer and consume, making them a preferred choice for both patients and healthcare providers. Further, the convenience of tablets improves patient compliance, as they are easier to handle, store, and transport compared to other forms of medication. Tablets provide a stable dosage form that ensures the correct and consistent delivery of medication, which is crucial for managing chronic conditions. Many patients prefer tablets over other forms such as injections or liquid formulations due to ease of use and minimal discomfort.
Transfusional Iron Overload is expected to be lucrative by 2033
The segment is indeed a lucrative segment within the global deferiprone market due to high prevalence of iron overload disorders. This widespread prevalence creates a large and consistent demand for effective treatments like deferiprone. Conditions like thalassemia major, sickle cell disease, and certain types of anemia often require frequent blood transfusions, leading to iron overload. This large patient population drives demand for effective treatments. Patients with these conditions need regular iron chelation therapy to prevent complications from iron accumulation, creating a sustained demand for effective treatments like deferiprone.
Online Pharmacies is expected to be lucrative by 2033
The online pharmacies segment is indeed a lucrative segment within the global deferiprone market due to increased adoption of digital health solutions, convenience, cost savings, and advancements in technology. As consumer preferences shift towards online purchasing and as the sector evolves with improved regulations and infrastructure, online pharmacies are set to become a major player in the healthcare and pharmaceutical industries.
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Regional Outlook
By region, North America held the largest share in terms of revenue in 2023 and is expected to dominate the deferiprone market during the forecast period. This is attributed to its advanced technology, strong demand & availability of deferiprone, supportive regulatory environment, and collaborative ecosystem fostering innovation and market growth in the deferiprone market. However, the Asia-Pacific region is expected to witness rapid industrialization in countries like China and India has led to the establishment and expansion of manufacturing facilities, including advancements and accessibility of such deferiprone products, is expected to drive the market growth during the forecast period.
Key Players: -
- Mylan Pharmaceuticals Inc.
- Novartis AG
- GlaxoSmithKline plc,
- Amgen Inc.
- Sanofi SA
- Teva Pharmaceuticals Industries Ltd.
- Merck and Co.
- Bristol-Myers Squibb Company
- AstraZeneca PLC
- Pfizer Inc
The report provides a detailed analysis of these key players in the global deferiprone market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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