Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSOn July 2017,Recordati Rare Diseases Inc., a biopharmaceutical company released a statement announcing that it has launched a 350-mg single-vial dosage strength of Panhematin (hemin for injection) for the amelioration of recurrent attacks of acute intermittent porphyria (AIP).
Introduction to Acute Hepatic Porphyria Drugs
Acute hepatic porphyria drugs are used for the treatment of adult patients with acute hepatic porphyria. Acute hepatic porphyria’s (AHPs) are a family of rare, genetic diseases characterized by potentially life-threatening attacks and, for many patients, chronic debilitating symptoms that negatively impact daily functioning and quality of life. Panhematin is a one of the acute hepatic porphyria drugs. Acute hepatic porphyria arises as a result of a malfunction in one of the eight steps in the body's synthesis of a complex molecule called heme. The most common symptoms are severe abdominal pain, nausea, vomiting, and constipation.
Market Size and Forecast
The acute hepatic porphyria drugs market is thriving on the back of growing awareness among the people regarding this disease coupled with the growing research activities. The acute hepatic porphyria drugs market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The market is segmented by product type, by application and by end user. The application segment is further segmented into hospitals, pharmacies, clinics and others. Based on this, the segment for hospitals is anticipated to hold the leading share in the market on account of availability of porphyria medicines used for the patient’s treatment only at the hospital under the doctors’ supervision.
Growth Drivers
Increasing Prevalence of Rare Metabolic and Genetic Disease to Boost the Market Growth
Since the incidence rate of rare metabolic disorders such as acute hepatic porphyria have been growing in the past few year, the demand for acute hepatic porphyria drugs is increasing. According to U.S. National Library of Medicines (Genetic Home Reference), the prevalence of porphyria ranges from 1 in 500 to 1 in 50,000 people worldwide and acute intermittent porphyria (AIP) is the most common form of acute hepatic porphyria in most countries. This is anticipated to significantly expand the acute hepatic porphyria drugs market.
Expanding Healthcare R&D and Increase in Awareness to Drive the Market Growth
The expanding growth in pharmaceutical as well as biotechnology industries all over the world is improving at a fast pace owing to the increasing number of cases of various diseases. Further, there is an increased awareness among people regarding acute hepatic porphyria owing to the fact that it primarily affects the nervous system and other major organs. The growing research and development for better treatment methods at research laboratories further fuels the healthcare industry. On the back of these, the market is predicted to grow over the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
Restraints
High Treatment Costs and Lack of Reimbursement Facilities to Hamper the Market Growth
Despite the improving healthcare infrastructure, there is a high cost associated with this drug used for the treatment of this disease. In addition to this, the poor reimbursement policies in the developing countries is estimated to hinder the growth of acute hepatic porphyria drugs market in the future.
Market Segmentation
Our in-depth analysis of the acute hepatic porphyria drugs market includes the following segments:
By Product Type
By Application
By End User
By Region
On the basis of regional analysis, the acute hepatic porphyria drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market for acute hepatic porphyria drugs in North America is anticipated to hold the largest share in the market on account of presence of leading market players in the region which manufacture and market acute hepatic porphyria drugs. Moreover, support from government in implementation of advanced healthcare technologies coupled with the rise in patients with genetic metabolic disorders in the region further increases the product demand. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of rise in awareness about this rare disorder along with the growing research activities in the region. The developing economies in the region, especially the countries such as China, India and Japan further provide significant opportunities to raise the demand for acute hepatic porphyria drugs.
Theacute hepatic porphyria drugs market is further classified on the basis of region as follows:
Top Featured Companies Dominating the Market
The acute hepatic porphyria drugs market is dominated by market players such as Abbott Ltd. and Recordati Rare Diseases Inc. Moreover, several players in the pharmaceutical industry are increasingly expanding their product diversification by utilizing advanced healthcare technologies to develop drugs that would be suitable for all patients without causing any adverse side-effects on them. Additionally, market players are also hugely investing on research and developmental activities that would focus on treatment of rare diseases with the help of advancement in healthcare technologies.
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2020 Research Nester. All Rights Reserved
