Hereditary Angioedema Market Is Registering a Strong 9.1% CAGR from 2017 to 2025
Hereditary angioedema is a rare disease and is mostly mistaken for common allergic reactions and abdominal pain. This mainly on account of the lack of knowledge among both physicians and patients about the condition. About 40% of the affected patients are diagnosed correctly with hereditary angioedema in the U.S. and Europe. With progress in diagnostic field and different initiatives undertaken by patient bodies and industry players to spread awareness, the market for hereditary angioedema is projected to grow.
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Another factor stoking growth in the market is the rise in hereditary angioedema (HAE) attacks. The frequency and severity of HAE attacks is found to be increased with triggers such as stress, anxiety, minor surgeries, hormone replacement therapies and ACE inhibitors used for treatment of hypertension. According to World Allergy Organization, an estimated 40 million people are receiving ACE inhibitor treatment annually.
Posing a hindrance to the market is the few approved specialty HAE drugs that are expensive. As a result patients mostly opt for conventional drugs, thus hampering the global hereditary angioedema market.
A report by Transparency Market Research finds that the global hereditary angioedema market will likely become worth US$3.81 bn by 2025 from US$ 1.73 bn in 2016 by registering a strong 9.1% CAGR from 2017 to 2025.
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North America, Europe and the Rest of the World are the three key geographical segments in the global hereditary angioedema market. North America, of them, is the leading region which is projected to rise at a healthy CAGR of 8.3% from 2017 to 2025 to retain its dominance in the near future. Reasons for the region’s leading position is a highly developed healthcare infrastructure and strong support from public and private sector in terms of reimbursements. Besides, rise in awareness about hereditary angioedema among patients has led to improvements in diagnosis and adoption of specialty drugs for treatment. This is also predicted to boost the market.
Europe trails North America in terms of market share in the global hereditary angioedema market. The market in the region is forecasted to rise at a CAGR of 10.8% between 2017 and 2025. So far, slow approvals, dearth of awareness about the condition and delay in re-imbursement for treatment has acted as roadblock to the market in Europe. However, with about an estimated 2000 hereditary angioedema patients in Germany and the U.K., the market seems to have ample room for growth.
Some of the important vendors in the global hereditary angioedema market are Pharming Group NV, Shire plc, CSL Limited, Ionis Pharmaceuticals, Inc., iBio Inc., and BioCryst Pharmaceuticals, Inc.
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