Deferasirox is an iron-chelating agent which is the most popular drug which is prescribed to reduce excess iron overload in blood disorders patients requiring frequent blood transfusion. It is available in different formulations for oral administration such as 90mg & 180mg film-coated tablets and tablets for suspension the composition is 125mg, 250mg, 500mg, etc. Deferasirox Market is expected to grow at a CAGR of 4.2% from 2020 to 2027.
Transfusional hemosiderosis is spearheading the indication segment for the deferasirox market. Deposition of excess iron in the visceral organs such as the liver, heart, and other endocrine glands takes place in the patients who receive blood transfusion for treating blood disorders such as sickle cell anemia, myelodysplastic syndrome, sickle cell anemia, etc. Deferasirox is recommended after the transfusion of 20 units of packed red blood cells or clinical evidence is reporting chronic iron overload for e.g. the serum ferritin level is greater than 1,000 µg/l associated with blood transfusion. Non-transfusion-dependent thalassemia syndromes are anticipated to be the rampant growing indication segment in the near future majorly due to the constant increase in the number of patients suffering from thalassemia syndromes. Deferasirox is recommended after clinical evidence has reported the iron overload as serum ferritin levels consistently greater than 800 µg/l in patients suffering from thalassemia syndromes.
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Hospital pharmacy is currently leading the distribution channel segment for the deferasirox market. Deferasirox is prescribed in different formulations and compositions to reduce the burden associated with the chronic deposition of iron in the liver. Hospital pharmacist ensures precise compounding of deferasirox dose per body weight in order to reduce drug adverse events such as renal and hepatic function disorders etc. Retail pharmacy is becoming very popular in developing regions due to the existence of a competitive generic drugs market at affordable prices.
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North America is currently reigning the geography segment for the deferasirox market. As per the statistics presented by the National Institute of Health (NIH), it is estimated that about 1% of the U.S. population is reported for suffering from nonmalignant blood disorders. Affordable reimbursement scenario for the deferasirox drug formulation used as an iron-chelating agent further propels the market growth in the region. Europe is the 2nd largest market holder in the regional segment primarily due to the constant rise in the number of patients suffering from non-transfusion-dependent thalassemia syndromes. As per the research citings brought forward by the Health Programme of The European Union, the annual incidence of symptomatic cases associated with beta-thalassemia in the European Union is 1 per 10,000 people. The Asia Pacific will be the fastest-growing regional segment in the near future owing to the presence of a lucrative market for generic medicines and a constant rise in the number of patients suffering from chronic liver iron overload due to frequent blood transfusions.
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Pharmaceutical manufacturers actively engaged in the production of deferasirox drug formulation are Novartis AG, Sun Pharmaceutical Industries Ltd., Apotex Corporation, Zydus Pharmaceuticals, Inc., Alembic Pharmaceuticals Limited., Teva Pharmaceutical Industries Ltd., Dr. Reddy’s Laboratories. Farma-Tek Pharmaceuticals. Bioprofarma Bagó, and AC Farma S.A.
Market Key Takeaways:
- Significant rise in the number of blood-related disorders requiring frequent blood transfusion
- Rising prevalence of beta-thalassemia major disorder worldwide
- The supportive regulatory environment provided by the healthcare regulatory agencies pertaining to the sale and distribution of different formulation of deferasirox throughout the globe
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