Rising Future of Acute Intermittent Porphyria Market
Rising Future of Acute Intermittent Porphyria Market
Blog Article
Acute Intermittent Porphyria (AIP) is a rare genetic disease characterized by attacks of severe abdominal pain, vomiting, and neurological abnormalities. The condition results from a deficiency in the enzyme porphobilinogen deaminase (PBGD). Symptoms include severe abdominal pain, nausea or vomiting, constipation, and other neurological symptoms such as delirium, seizures and paralysis.
The primary treatment is intravenous hemin administration to suppress overproduction of porphyrins. Growing awareness and funding for rare diseases have facilitated development of diagnostic tests and therapeutics for Acute Intermittent Porphyria Market.
The acute intermittent porphyria market is estimated to be valued at USD 1.43 Billion in 2024 and is expected to reach USD 2.17 Billion by 2031, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Key Takeaways
Key players operating in the Acute Intermittent Porphyria are Dahaner, Recordati Rare Diseases, Abbott.
Growing demand - Increasing prevalence of rare genetic diseases and rising awareness about AIP diagnosis and treatment are fueling market growth.
Technological advancement - Development of novel therapies such as genetic therapy and stem cell transplantation can potentially provide cures for AIP in future.
Market Trends
Increasing R&D investments by pharmaceutical companies for developing novel therapeutics for rare diseases. Companies are investing in development of small molecule drugs, gene therapies and stem cell therapies to provide a cure for AIP.
Growing collaboration between biotech companies, patient advocacy groups and research institutes to accelerate research related to AIP diagnostics and treatment through funding and knowledge-sharing.
Market Opportunities
Untapped emerging markets in Asia Pacific and Latin America due to lack of awareness and high treatment costs offer lucrative growth opportunities.
Development of early detection methods through newborn screening can facilitate early intervention and disease management in AIP patients.
Impact of COVID-19 on Acute Intermittent Porphyria Market Growth
The onset of COVID-19 pandemic has disrupted the normal functioning of various industries including the acute intermittent porphyria market. The imposition of nationwide lockdowns compelled healthcare facilities to postpone elective surgeries and non-emergency medical procedures. This adversely impacted the demand for drugs used for treating acute intermittent porphyria. Restrictions on international trade further disrupted supply chains and led to shortages of key pharmaceutical ingredients.
However, with vaccines being rolled out in most countries, healthcare systems have regained normalcy. Majority of healthcare facilities have resumed elective surgeries while following necessary safety protocols. This has boosted the consumption of acute intermittent porphyria drugs as patients are no longer deferring their treatments. Nevertheless, future waves of virus mutations still remain a concern. Drug makers will need to strengthen their supply networks to ensure sufficient availability of medicines. Telehealth and home care are emerging as preferred options to provide support to chronic patients without exposing them to infection risk.
Geographical Concentration of Acute Intermittent Porphyria Market
North America currently dominates the acute intermittent porphyria market in terms of value. This is attributed to high diagnosis and treatment rates in the US and copyright. Favorable reimbursement structures along with proactive patient support programs are facilitating early detection and management of this rare disease. Additionally, presence of key drug manufacturers in the region cater to the bulk of local demand. Meanwhile, Europe is the second largest market owing to rising government funding for orphan drugs. Countries like Germany, UK and France have a sizeable acute intermittent porphyria patient population.
Fastest Growing Region in Acute Intermittent Porphyria Market
The acute intermittent porphyria market is witnessing remarkable growth in Asia Pacific driven by improving access to healthcare in India and China. Rising medical expenditures, increasing public awareness about rare diseases and expanding private insurance coverage are boosting the diagnosis and treatment uptake. Moreover, growing collaborations between regional drug makers and international companies are ensuring steady supply of high-quality acute intermittent porphyria medicines. Favorable regulations encouraging domestic manufacturing while ensuring stringent quality control would escalate the market penetration in Asia Pacific region over the coming years.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)