SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global hemoglobinopathy treatment drugs market is estimated to be valued at US$ 3.3 billion in 2020 and is expected to exhibit a CAGR of 8.4% during the forecast period (2020-2027).
Key Trends and Analysis:
The global hemoglobinopathy treatment drugs market is expected to witness significant growth, owing to increasing product approvals by the regulatory bodies. For instance, in November 2019, Global Blood Therapeutics, Inc. (GBT) announced that the U.S. Food and Drug Administration (FDA) granted accelerated approval for Oxbryta (voxelotor) tablets for the treatment of sickle cell disease (SCD) in adults and children 12 years of age and older. Oxbryta, an oral therapy taken once daily, is the first approved treatment that directly inhibits sickle hemoglobin polymerization, the root cause of SCD.
Moreover, the increasing number of product approvals for pediatric patients is also expected to drive growth of the hemoglobinopathy treatment drugs market over the forecast period. For instance, in July 2017, Emmaus Medical Inc. announced that they have received the U.S. Food and Drug Administration approval for Endari for treatment of sickle cell disease and to reduce severe complications associated with the blood disorder in patients aged five years and older. Endari received Orphan Drug designation for this use, which provides incentives to assist and encourage the development of drugs for rare diseases.
Furthermore, key players are focused on collaborations for research and development of hemoglobinopathy treatment drugs to make advancements and to increase customer base. For instance, in November 2017, Homology Medicines, Inc., a genetic medicines company, announced that it entered into a research and development collaboration with Novartis to use Homology's proprietary gene editing technology to develop new treatments for selective ophthalmic targets and hemoglobinopathy disease. Under the terms of the agreement, Novartis made an upfront payment to and an equity investment in Homology Medicines, Inc.
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Key Market Takeaways:
The global hemoglobinopathy treatment drugs market is expected to exhibit a CAGR of 8.4% during the forecast period (2020-2027), owing to increasing prevalence of thalassemia. For instance, according to the study, ‘Alpha-Thalassemia in North Morocco: Prevalence and Molecular Spectrum’, published in the journal BioMed Research International, in March 2019, the prevalence of α-thalassemia was 26.59% in newborns in Morocco.
Key players in the Asia Pacific hemoglobinopathy treatment drugs market are focused on collaborations for development of novel therapies for expansion of their product portfolio, which is expected to drive growth of the market during the forecast period. For instance, in January 2014, Biogen Idec and Sangamo BioSciences, Inc. announced an exclusive worldwide collaboration and license agreement focused on the development of therapeutics for hemoglobinopathies, which are inherited conditions that result from the abnormal structure or underproduction of hemoglobin. The agreement will enable Biogen Idec to further enhance its expertise in non-malignant hematology by leveraging Sangamo’s proprietary genome-editing technology platform to develop treatments targeting sickle cell disease (SCD) and beta-thalassemia.
Competitive Landscape:
Key players operating in the global hemoglobinopathy treatment drugs market include Bristol-Myers Squibb Company, GlycoMimetics Inc., Pfizer Inc., Anthera Pharmaceuticals Inc., Eli Lilly and Company, Mast Therapeutics, Daiichi Sankyo Company Ltd., Novartis International AG, Bluebird Bio Inc., HemaQuest Pharmaceuticals Inc., Emmaus Medical Inc., Prolong Pharmaceuticals, Merck & Co., Inc., Medunik USA Inc., Sangamo Therapeutics, Inc., Global Blood Therapeutics, Alnylam Pharmaceuticals, and Acceleron Pharma, Inc.
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Market Segmentation:
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Global Hemoglobinopathy Treatment Drugs Market, By Drug Type:
- Analgesics
- Antibiotics
- ACE Inhibitors
- Hydroxyurea
- Others
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Global Hemoglobinopathy Treatment Drugs Market, By Disease Type:
- Thalassemia
- Sickle Cell Disease
- Other Hb Variants Diseases
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Global Hemoglobinopathy Treatment Drugs Market, By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Global Hemoglobinopathy Treatment Drugs Market, By Region:
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North America
- U.S.
- Canada
-
Europe
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
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Asia Pacific
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
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Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
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Middle East
- GCC Countries
- Israel
- Rest of Middle East
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Africa
- South Africa
- Central Africa
- North Africa
-
North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. Our client base includes players from across various business verticals in over 57 countries worldwide.
