PUBLISHER: The Business Research Company | PRODUCT CODE: 1415795
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415795
“Sickle Cell Disease Treatment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sickle cell disease treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sickle cell disease treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The sickle cell disease treatment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Sickle cell disease (SCD), also referred to as sickle cell anemia, is a genetic disorder that impacts hemoglobin, a protein found in red blood cells. Individuals with sickle cell disease produce defective hemoglobin, known as hemoglobin S (HbS), due to a mutation in the hemoglobin gene. Treatment for sickle cell disease aims to alleviate blockages, improve blood flow, and repair damaged tissues.
The primary modalities for treating sickle cell disease include blood transfusion, pharmacotherapy, and bone marrow transplant. A blood transfusion involves the transfer of blood or blood products from a donor to a recipient. Sickle cell disease encompasses various types, such as sickle cell anemia, hemoglobin sickle C disease (HbSC), and others, with treatment administered through oral and parenteral routes. End users of these treatments include hospitals, specialty clinics, and other healthcare facilities.
The sickle cell disease treatment market research report is one of a series of new reports from The Business Research Company that provides sickle cell disease treatment market statistics, including sickle cell disease treatment industry global market size, regional shares, competitors with a sickle cell disease treatment market share, detailed sickle cell disease treatment market segments, market trends and opportunities and any further data you may need to thrive in the sickle cell disease treatment industry. This sickle cell disease treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The sickle cell disease treatment market size has grown rapidly in recent years. It will grow from $2.46 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to disease understanding, blood transfusions, pain management, hydroxyurea therapy.
The sickle cell disease treatment market size is expected to see rapid growth in the next few years. It will grow to $5.75 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to gene editing and gene therapy, new drug development, telemedicine and remote monitoring, global health initiatives. Major trends in the forecast period include curative therapies, pain management alternatives, global collaborations, patient advocacy and engagement.
The growing need for blood transfusions is expected to propel the expansion of the sickle cell disease treatment market in the foreseeable future. Blood transfusion is a medical procedure involving the transfer of blood or blood products from a donor to a recipient. It plays a crucial role in the treatment of sickle cell disease (SCD) patients by enhancing the blood's oxygen-carrying capacity and reducing the complications associated with vaso-occlusion. For example, in December 2022, gov.UK reported that the UK witnessed an increase in blood donations in 2021, with 1.7 million donations made across the country. Moreover, in January 2022, according to Mid-Atlantic Long-Term Care, the United States requires approximately 29,000 units of red blood cells, 5,000 units of platelets, and 6,500 units of plasma daily. Therefore, the growing demand for blood transfusions is a driving force behind the growth of the sickle cell disease treatment market.
The increasing prevalence of blood and bone marrow transplants is expected to drive the growth of the sickle cell disease treatment market. Blood and bone marrow transplants are medical procedures that involve the replacement of unhealthy blood-forming cells with healthy ones. These transplants aim to cure sickle cell diseases and various cancers by infusing healthy bone marrow cells into individuals after treating their diseased bone marrow to eliminate abnormal cells. The replacement cells can either be obtained from the patient's own body (autologous transplant) or from a donor's body (allogeneic transplant). For instance, in June 2023, the Health Resources and Services Administration reported that in 2021, the United States conducted 5,073 unrelated and 4,276 related bone marrow and cord blood transplants. Additionally, the number of registered bone marrow donors increased from 9,285,029 in 2021 to 9,475,534 in 2021. Thus, the rising prevalence of blood and bone marrow transplants is expected to significantly boost the sickle cell disease treatment market.
The significant medical costs are exerting a negative influence on the growth of the sickle cell disease treatment market during the forecast period. The elevated expenses associated with medical care for individuals with SCD can create substantial financial barriers. Patients and their families may encounter challenges in affording essential treatments, medications, and hospitalizations, leading to delays or inadequacies in care. For example, in July 2022, as reported by the National Library of Medicine, patients with SCD incurred greater costs, with an annual cost difference ranging from $6,636 to $43,436 compared to those without SCD. Inpatient care, with costs ranging from $11,978 to $59,851 per year, was the medical expense that significantly impacted SCD patients. Therefore, the high medical costs are impeding the growth of the sickle cell disease treatment market.
Prominent companies operating in the sickle cell disease treatment market are strategically pursuing new product approvals to advance their positions in the market. The approval of drugs for the treatment of sickle cell disease aims to provide more effective treatment options for patients dealing with this lifelong condition. For instance, in December 2021, Global Therapeutics Inc., a biopharmaceutical company based in the United States, announced the rapid approval granted by the U.S. FDA for Oxbryta (voxelotor) tablets. These tablets are intended for the treatment of sickle cell disease (SCD) in children aged between 4 and 11 years. Oxbryta is the sole FDA-approved medication for children with SCD, specifically targeting the prevention of sickle hemoglobin polymerization, which is the underlying cause of sickling and the destruction of red blood cells in SCD. This innovative drug, classified as first-in-class, works by increasing the production of fetal hemoglobin (HbF) through its interaction with and activation of the TNSALP enzyme. This activation allows the enzyme to break down pyrophosphate, a substance that can interfere with HbF production. Oxbryta is administered via a subcutaneous injection once daily.
In October 2022, Pfizer Inc., a pharmaceutical corporation headquartered in the United States, acquired Global Blood Therapeutics Inc. for $5.4 billion. This acquisition provides Pfizer with access to a premier sickle cell disease portfolio and pipeline, addressing the critical needs of an underserved patient population. Global Blood Therapeutics Inc. is a biopharmaceutical company based in the United States, specializing in the development and commercialization of therapies for individuals with sickle cell disease (SCD).
Major players in the sickle cell disease treatment market are Sun Pharmaceutical Industries Ltd., Pfizer Inc., Johnson & Johnson Private Limited, Merck & Co Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Incorporated, Alnylam Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Silver Lake Research Corporation0.45, Global Blood Therapeutics Inc., Acceleron Pharma Inc., Sangamo Therapeutics Inc., Medunik USA Inc., Zydus Cadila Healthcare Ltd., Graphite Bio Inc., Addmedica, Emmaus Medical Inc., Bluebird bio Inc., CRISPR Therapeutics AG, GlycoMimetics Inc., Arena Pharmaceuticals Inc., Mast Therapeutics Inc.
North America was the largest region in the sickle cell disease treatment market in 2023. The regions covered in sickle cell disease treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the sickle cell disease treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sickle cell disease treatment market consists of revenues earned by entities by providing services such as oxygen therapy, pulmonary hypertension management and pain management. The market value includes the value of related goods sold by the service provider or included within the service offering. The sickle cell disease treatment market also includes sales of hydroxyurea, L-glutamine and voxlelotor. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.