DUBLIN--(BUSINESS WIRE)--The "Global Hemoglobinopathies Market Size, Share & Trends Analysis Report by Type (Thalassemia, Sickle Cell Disease, Other Hemoglobin (Hb) Variants), by Diagnosis, by Therapy, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global hemoglobinopathies market size is expected to reach USD 15.7 billion by 2028, expanding at a CAGR of 10.8%
Increasing awareness regarding hemoglobinopathies and government initiatives to diagnose the diseases at an early stage are expected to propel market growth over the forecast period. Moreover, increasing R&D investment, the presence of a promising drug pipeline, and technologically advanced diagnostics platforms are expected to boost the growth of the market.
The development of novel curative technologies, such as CRISPR/Cas9 and hematopoietic stem cell transplantation, coupled with a promising pipeline, is expected to propel market growth. Moreover, the presence of regulatory agencies, such as the FDA, which are working toward improving drug approval rate by granting accelerated approval for hemoglobinopathies drugs, is expected to drive the market.
Initiatives such as the Sickle Cell Awareness Initiative (SCAI) are working toward educating the people about the disease, which will increase the diagnosis and treatment rate. SCAI also raises funds for individuals affected with sickle cell diseases (SCDs) and provides research funding.
Moreover, governments of Middle Eastern and Asian countries provide funds for R&D of hemoglobinopathies treatment. For instance, various programs undertaken by governments, such as thalassemia screening in neonates and providing medicines, are impacting the market growth positively.
The high patient population in low-income countries has encouraged market players and non-profit organizations to launch several initiatives to improve the access to the therapy.
For instance, in February 2019, the Access to Excellent Care for Sickle Cell Patients Pilot Program (ACCEL) was launched by Global Blood Therapeutics, Inc. in order to provide research funding for novel SCD projects, with an aim to expand the access to optimal healthcare for sickle cell disease.
Biopharmaceutical companies are collaborating with nonprofit organizations to promote public awareness about hemoglobinopathies.
An increase in investment and funding for the development of novel therapies to treat hemoglobinopathies will further boost the market growth over the forecast period. The National Heart, Lung, and Blood Institute (NHLBI) has significantly invested in research & development in sickle cell disease.
The NHLBI supports research work through various initiatives. Furthermore, private funding such as the Bronx Blood Research Fund (BBRF) provides a platform for research and management of thalassemia and other hemoglobinopathies.
Gene therapy has emerged as a promising treatment option for managing hemoglobin disorder as it targets the underlying genetic cause of the condition through the administration of one-time gene therapy and significantly reduces the need for blood transfusions.
The current pipeline of gene therapy products includes CTX001 (CRISPR Therapeutics), BIVV003 (Sangamo Therapeutics, Inc. & Bioverativ Inc), and HGB-206 (bluebird bio, Inc).
Hemoglobinopathies Market Report Highlights
- Based on type, sickle cell disease accounted for the largest share of 56.6% in 2020 and is anticipated to maintain its lead over the forecast period
- The newborn patient population with sickle cell anemia is anticipated to reach 400,000 by 2050. Half of the global sickle cell anemia burden is present in India, Nigeria, and the Democratic Republic of the Congo
- By therapy, in the thalassemia segment, the blood transfusion segment held the largest market share in 2020 and is estimated to dominate the market throughout the forecast period
- Asia Pacific is expected to witness the fastest growth over the forecast period owing to a large potential patient base and high unmet medical needs in the region
- North America held the largest market share in 2020 due to government initiatives focusing on the development of new therapies and better reimbursement scenario
Global Hemoglobinopathies Market Variables, Trends & Scope
Penetration and Growth Prospect Mapping
Epidemiology Assessment of Hemoglobinopathies
- Sickle cell disease
- Thalassemia
Market Variable Analysis
- Increasing prevalence of hemoglobinopathies in under-developed countries
- High unmet needs
- Increasing R&D investment
- Initiatives to improve disease awareness levels
Market Restraint Analysis
- Lack of healthcare infrastructure
- High cost of treatment
Companies Mentioned
- Sangamo Therapeutics
- bluebird bio, Inc.
- Global Blood Therapeutics, Inc.
- Pfizer, Inc.
- Emmaus Life Sciences, Inc.
- Prolong Pharmaceuticals, LLC
- Celgene Corporation (BMS)
- Bioverativ Inc. (Sanofi)
- Gamida Cell
- Novartis AG
For more information about this report visit https://www.researchandmarkets.com/r/8dphl0
