PUBLISHER: Grand View Research | PRODUCT CODE: 1405884
PUBLISHER: Grand View Research | PRODUCT CODE: 1405884
The global sickle cell disease treatment market size is expected to reach USD 7.42 billion by 2030, registering a CAGR of 15.7% during the forecast period, according to a new report by Grand View Research, Inc. Several factors including increased investments in R&D, a growing target population, increasing awareness programs, and favorable government initiatives are anticipated to drive the growth. According to the European Sickle Cell Federation, around 70 thousand people are living with sickle cell disease (SCD) in Europe.
The introduction of noninvasive, technologically advanced, and digital technologies to facilitate the detection of SCD is set to assist in overcoming the barriers associated with targeted sickle cell diagnosis and treatment management. Presently developed POC devices are based on methodologies such as densitometry, lateral flow immunoassay, and microfluidic electrophoresis. The increase in the diagnosis rate of disease will further facilitate growth.
Available treatments for sickle cell disease usually provide symptomatic relief and palliative care. These treatment methods generally include blood transfusions, bone marrow transplants, and pharmacotherapy. However, a bone marrow transplant is the only potentially curative treatment recommended only to a small percentage of patients. Moreover, increasing approval of novel drugs such as Oxbryta by Global Blood Therapeutics, Inc.;Endari by Emmaus Medical, Inc.; and PYRUKYND by Agios Pharmaceuticals, Inc. is expected to drive the market growth.
Increasing collaborations between market players and government and non-government organizations are anticipated to fuel market growth over the forecast period. For instance, in February 2021, Novartis AG and Bill & Melinda Gates Foundation collaborated to develop novel gene therapy for sickle cell disease. According to the agreement, Bill & Melinda Gates Foundation will provide funding to support the development of novel therapy to cure SKD.
High-unmet medical needs, a strong pipeline, and a growing patient pool are key factors expected to influence market growth. In recent years, demand for cost-effective drugs and gene therapies for sickle cell anemia has increased owing to the unavailability of a permanent cure and the risks associated with bone marrow transplants. Companies such as bluebird bio, Inc.; Bellicum Phamaceuticals, Inc.; and Gamida Cell are actively involved in the development of new effective gene therapies for sickle cell disease treatment, which is expected to increase the treatment rate in the coming years.
Expected launches of late-stage pipeline drugs such as voxelotor, crizanlizumab, Altemia, and rivipansel are projected to drive the sickle cell disease industry during the forecast period. Healthcare initiatives undertaken by respective economies are crucial for curbing the financial burden of the disease as well as for increasing access to healthcare facilities and providing various services for early diagnosis, subsequent treatment, and palliative care.