PUBLISHER: Allied Market Research | PRODUCT CODE: 1566975
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566975
Deferiprone Market
The deferiprone market was valued at $33.4 million in 2023 and is projected to reach $45.9 million by 2033, growing at a CAGR of 3.2% from 2024 to 2033.
Deferiprone is a compound used as a medication for curing iron overload caused by blood transfusions or thalassemia major. The role of deferiprone involves the chelation of iron and its removal from the bloodstream through urine. Deferiprone is consumed as a tablet or oral solution and is readily absorbed by the upper gastrointestinal tract.
The growth of the deferiprone market is significantly driven by increase in the prevalence of diseases that require regular blood transfusions such as thalassemia and sickle cell anemia. In addition, rise in awareness regarding iron disorders is boosting the adoption of deferiprone for iron overload cases. Furthermore, governments in several countries are focusing on the improvement of treatment capabilities for chronic diseases and iron-related disorders, which is upsurging the demand for deferiprone. This is propelling the development of the market. Currently, explorations regarding expansion of the applications of deferiprone are trending in the market. According to an article posted on the American Association for Cancer Research Journals, deferiprone is anticipated to act as an alternative immunotherapeutic drug for the control of metastatic ovarian cancer.
However, improper or excessive dosage of deferiprone leads to severe side effects such as agranulocytosis and neutropenia, limiting its utility and hampering the growth of the market. Furthermore, the medication faces stringent competition from equally efficient alternatives such as desferrioxamine and deferasirox. This restrains the development of the deferiprone market considerably. Contrarily, rise in the popularity of personalized medicine is projected to present new avenues for the market. Personalized medicine involves providing medications and treatments specifically according to an individual's health and body condition. This is projected to boost the uptake of deferiprone as tailored dosages have minimum to no possibility of causing side effects to the human body.
Segment Review
The deferiprone market is segmented into form, application, distribution channel, and region. On the basis of form, the market is bifurcated into tablets and others. As per application, it is divided into transfusional iron overload and NTDT caused overload. Depending on distribution channel, it is categorized into hospital pharmacies, drug store & retail pharmacies, and online providers. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of form, the tablets segment dominated the market in 2023.
As per application, the transfusional iron overload segment is anticipated to account for a high market share by 2033.
Depending on distribution channel, the online providers segment is projected to be the highest shareholder throughout the forecast period.
Region wise, North America was the highest revenue generator in the market in 2023.
Competition Analysis
The key players operating in the global deferiprone market include Apotex Inc, Cipla Limited, VHB Life Sciences Limited, Taro Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Novartis International AG, Chiesi Farmaceutici S.p.A, Zydus Cadila, Cipla Inc., and Pfizer. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)