Polaris Market Research recently published [115+ Pages] research report on “Sickle Cell Disease Treatment Market Share, Size, Trends, Industry Analysis Report, By Treatment (Blood Transfusion, Pharmacotherapy, Bone Marrow Transplant); By End-Use; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global sickle cell disease treatment market size was valued at USD 1.52 billion in 2021 and is expected to surpass USD 6.94 Billion By 2030, growing at a CAGR of 18.8% during the forecast period.
What is Sickle Cell Disease Treatment? How Big is Sickle Cell Disease Treatment Market Size?
Sickle cell disease is a conferred disorder that impacts the shape of red blood cells that carry oxygen throughout the body. Treatments might involve blood transfusion and medications. The rapidly increasing demand for the sickle cell disease treatment market can be attributed to patients experiencing one-sided paralysis, difficulty walking or talking, and severe headaches. In sickle cell disease, some red blood cells are shaped like sickles or crescent moons, and they are inflexible and sticky, which can retard or obstruct blood flow.
The absence of treatments and the unfulfilled needs of patients has propelled the government to take active steps. The government concentrates on the speedy approval of research grants to inspire pharmaceutical companies to advance new therapies for the disease. Considerable growth in the number of persons agonizing from sickle cell disease represents one of the significant factors impacting the demand for new medications that can cure the conditions productively.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
What Does the Report Include?
- Qualitative and quantitative analysis of the market dependent on segmentation, including both economic as well as non-economic factors
- Supplying of market value data of each segment and sub-segment
- Stipulates the region and segment that is anticipated to observe the fastest growth as well as dominate the market
- Analysis by geography underscoring the consumption of the product/service in the region as well as indicating the factors that are impacting the market within each region
Some of the Top Market Players Are:
- AstraZeneca Plc.
- Acceleron Pharma Inc.
- Arena Pharmaceuticals Inc.
- Alnylam Pharmaceuticals Inc.
- Baxter International Inc.
- Bristol-Myers Squibb Company
- Bluebird bio Inc.
- Emmaus Life Sciences Inc.
- Eli Lilly and Company
- Global Blood Therapeutics Inc.
- Novartis AG
- Pfizer Inc.
- Sangamo Therapeutics Inc
To Know Additional Information on Market Players, Download Sample PDF Brochure
Growth Driving Factors
- The growing prevalence of sickle cell disease in regions like Africa pushes the market
The growing prevalence of sickle cell disease, particularly in Africa, is one of the prominent factors anticipated to initiate the market’s growth. As per the UN, approximately 20-25 million people are residing with SCD globally. The sickle cell disease treatment market size is expanding as regions like sub-Saharan Africa have the highest prevalence of the disease, where almost 240,000 children are born with the disease each year.
In 2017, FDA sanctioned Emmaus Life Sciences product Endari for sickle cell disease patients aged five years and older. Till then, there was an acute lack of focus or innovation on developing a treatment, as Endari was the first sickle cell disease treatment sanctioned in years since hydroxyurea. The sickle cell disease treatment market sales are soaring because of a massive wave of innovation, with three products sanctioned for the disease treatment since 2017. They are Endari, Oxbryta, and Adakveo.
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In August 2022, Pfizer Inc. and Global Blood Therapeutics Inc. announced an MoU within which Pfizer will acquire GBT for an expected $5.4 billion. GBT is a pharmaceutical and biotechnology firm dedicated to the discovery, progression, and issuance of life-altering treatment choices that provide hope to underprivileged patient populations commencing with sickle cell disease.
- The blood transfusion segment is expected to witness the fastest growth
Based on treatment, the blood transfusion segment is anticipated to see the most rapid growth. The increasing sickle cell disease treatment market demand for blood transfusion, as well as the growing prevalence of SCD, are propelling the expansion of the market. A blood transfusion lessens the body’s supply of hemoglobin S red blood cells.
- The hospital segment accounted for the highest market share
Based on end use, the hospital segment accounted for the highest market share, the most significant cause being hospitalization, deeming for approximately 200,000 ER visits in the US each year. This is predicted to benefit hospital segment expansion in the coming years. The sickle cell disease treatment market trends include the increasing number of clinics shifting the clinic sector ahead. Additionally, SCD is connected to several symptoms, increasing the patient’s hospital visits.
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- The high incidence of this disease in North America propelled the market in that region
North America held the largest sickle cell treatment market share as this disease is a prominent issue in the healthcare business due to its high incidence in that region. The disease treatment is assumed and originated in Africa. As per the CDC, SCD influences approximately 100,000 people in the US. SCD impacts approximately 1 in every 365 Black or African American babies.
Browse the Detail Report “Sickle Cell Disease Treatment Market Share, Size, Trends, Industry Analysis Report, By Treatment (Blood Transfusion, Pharmacotherapy, Bone Marrow Transplant); By End-Use; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/sickle-cell-disease-treatment-market
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Frequently Asked Questions
- What is the growth rate of the market?
- What are the major industry drivers?
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- What are the significant treatment segments available in the market?
- Who are the key industry players, as per the report?
Polaris Market Research has segmented the sickle cell disease treatment market report based on treatment, end-use, and region:
By Treatment Outlook
- Blood Transfusion
- Branded Drugs
- Bone Marrow Transplant
By End Use Outlook
- Specialty Clinics
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Sickle Cell Disease Treatment Market Report Highlights
- The bone Marrow Transplant (BMT) segment is anticipated to grow at a significant CAGR over the forecast period. Only bone marrow transplantation (BMT) can cure SCD. As a result, the preference for BMT is growing throughout North America and Europe. However, the procedure’s high cost and difficulties in locating a matched donor restrict the segment’s growth.
- The pharmacotherapy segment accounted for a significant revenue share. The government’s significant support for pharmaceutical businesses can be ascribed to the segment’s rapid expansion. Because there are currently few therapy choices on the market, the government encourages research through financing and classifications like orphan pharmaceuticals, fast track, issues that will affect, and others.
- Asia Pacific is expected to grow at a lucrative CAGR over the projected period. Because of a rising patient population and increasing disposable income levels in this region. Furthermore, the expansion of the healthcare system and increasing government efforts would accelerate the market’s growth in this region.
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