Acute Intermittent Porphyria Market Overview
The acute intermittent porphyria market is projected to reach USD 5 Million by 2030 at 4.50% CAGR during the forecast period 2022-2030. The rising frequency of metabolic illnesses, gastrointestinal concerns, urinary tract issues, and health insurance coverage are driving the expansion of the market. Also, the growing elderly population will boost the market expansion.
Acute intermittent porphyria (AIP) is a metabolic condition caused by a genetic mutation. It affects the formation of heme, hemoglobin's oxygen-binding prosthetic group. It is characterized by a lack of the enzyme porphobilinogen deaminase. Acute intermittent porphyria is caused mostly by aberrant urine color, anorexia, sleeplessness, myalgia, and urinary retention. AIP can cause liver cancer (hepatocellular carcinoma) and renal failure in some people. Other symptoms include gastrointestinal problems, urinary tract problems, neurological problems, and psychological problems.
The rising prevalence of lifestyle-related disorders such as obesity is propelling the target market forward. Furthermore, the increased availability of money and fast-expanding government support for R&D will create several potential prospects for the acute intermittent porphyria market throughout the forecast years.
With the rise of the Covid-19 impact, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols have affected millions of small and big business institutions alike. The acute intermittent porphyria market saw a slight downfall post the pandemic due to the lockdown and physical distancing.
The pandemic has severely hindered the market growth, which has affected the forecast market value significantly. However, the pandemic situation is expected to wear off in the coming years. Hence, the severe intermittent porphyria market will see steady growth in the forecast years.
A few factors may drive the growth of the acute intermittent porphyria market share. The rising frequency of metabolic illnesses, gastrointestinal concerns, urinary tract issues, and health insurance coverage are driving the expansion of the market. Also, the growing elderly population will boost the market expansion.
The rising awareness about severe intermittent porphyria and the expansion of the healthcare sector in emerging markets are the primary drivers that fuel the growth of the market.
According to WHO evaluations, neurological diseases account for 4.5 percent -11 percent of all illnesses in poor and high-income countries. This is significantly more than the number of respiratory diseases, gastrointestinal diseases, or malignancies, and the burden is anticipated to grow even more in the future years. This is expected to fuel the acute intermittent porphyria market growth in the forecast years.
There are a few factors that may hinder the growth of the market value. Some of the factors that may impede the development of the market during the projected period include the availability of pricey treatment and inadequate reimbursement policies in emerging countries of the world.
In emerging regions, common knowledge and insufficient access to excellent healthcare are restricting acceptance. The disorder's asymptomatic form creates delays in diagnosis, limiting uptake in the areas and hindering the acute intermittent porphyria market growth.
The acute intermittent porphyria market is anticipated to grow substantially in the years to come. The severe intermittent porphyria treatment market value is expected to grow at a CAGR of about 5.6%. The rising frequency of metabolic illnesses, gastrointestinal concerns, urinary tract issues, and health insurance coverage are driving the expansion of the market. Also, the growing elderly population will boost the market expansion.
Rapid advances in metabolic diseases diagnosis are expected to drive acute hepatic porphyria market growth. Moreover, increasing regulatory clearances to allow potentially life-saving therapeutic techniques is broadening the scope of the market growth for acute intermittent porphyria. APH treatments benefit greatly from the government's strong support for advanced research, which also fuels market growth in the long run. The rising awareness about severe intermittent porphyria and the expansion of the healthcare sector in emerging markets are the primary drivers that fuel the growth of the market.
The acute intermittent porphyria market is classified into many segments such as diagnosis, treatment, and end-user. Listed below are the severe intermittent porphyria market segments:
The regional division of the acute intermittent porphyria market analysis comprises North America, Europe, Asia Pacific, and the rest of the world. The Americas rule over the global acute intermittent porphyria treatment market because of well-developed technology, increased patients with inherited metabolic abnormalities, high healthcare spending, and government funding for research and development. Also, the increased R&D efforts and the concentration of significant corporations have fueled market expansion in this area.
Because of government support for R&D and the availability of research money, Europe ranks second in the global severe intermittent porphyria market. This is projected to drive the European market for the foreseeable future. Countries such as Germany and France, for example, are expanding their investments in healthcare.
Because of rapidly increasing healthcare technology, a large patient population, and high healthcare spending, Asia Pacific is the fastest growing acute intermittent porphyria market. Furthermore, the rising demand for innovative treatment approaches in nations such as India and South Korea is expected to make them the world's fastest expanding markets.
Furthermore, rising demand for high-quality medical devices is expected to enhance the adoption of modern equipment, fueling the expansion of the market in the area. On the other hand, blood disorders have become a major issue throughout the Middle East and Africa due to preliminary screening, disease ignorance, and restricted access to treatment.
The acute intermittent porphyria industry is dominated by a few companies that play a vital role in the market growth. These acute intermittent porphyria treatment services companies are called key companies of the market. They contribute to the largest share of the market profit.
The companies account for the market profits by adopting various acute intermittent porphyria market trends such as joint ventures, product launches, company expansions, and procurements.
Below are the key companies that offer acute intermittent porphyria treatment services in the global market, with the location of their headquarters:
This report delivers all the information about the acute intermittent porphyria market size in the forecast period. It also contains different sections of the market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is collected from verified primary and secondary sources to provide the expected market outlook.
Acute intermittent porphyria (AIP) is a genetic metabolic disorder. It affects the production of heme, the oxygen-binding prosthetic group of hemoglobin. Generally, it is characterized by a deficiency of the enzyme porphobilinogen deaminase.
The market is expected to exhibit a strong 4.50% CAGR over the forecast period from 2022 to 2030.
The growing awareness about porphyria and growth of the healthcare sector in emerging countries are the major drivers for the acute intermittent porphyria market.
The Americas hold a dominant 44% share in the global market.
Leading players in the acute intermittent porphyria market include Danaher, Bio-Rad Laboratories, and ARKRAY, among others.