Several factors such as increasing prevalence of hereditary hemochromatosis and rising awareness regarding iron overload disorders are driving the demand for hemochromatosis treatment and management.
Market Dynamics:
The global hemochromatosis market growth is primarily driven by the rising prevalence of hereditary hemochromatosis across the globe. As per estimates from Medscape, in June 2024, around 1 million Americans suffer from hereditary hemochromatosis which remains undiagnosed. Increasing awareness about the early diagnosis and treatment of iron overload disorders is positively impacting the market growth. Moreover, increasing adoption of screening programs for the early detection of hemochromatosis is further fueling the market growth. However, high costs associated with genetic testing and liver biopsy procedures may hinder the market growth to some extent. Nevertheless, ongoing research for the development of advanced diagnostics and introduction of genetic testing are expected to create lucrative opportunities for market players over the forecast period.
Key Features of the Study:
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