PUBLISHER: The Business Research Company | PRODUCT CODE: 1509652
PUBLISHER: The Business Research Company | PRODUCT CODE: 1509652
Hemoglobinopathies treatment encompasses the management and care offered to individuals affected by genetic disorders involving abnormal or mutated hemoglobin molecules, such as sickle cell disease and thalassemia. The objective of treating hemoglobinopathies is to alleviate symptoms, prevent complications, and potentially offer curative options to enhance patient outcomes and quality of life.
The primary types of treatment for hemoglobinopathies include stem cell therapy and blood transfusion. Stem cell therapy utilizes stem cells to address or prevent a disease or condition, particularly in cases of thalassemia and sickle cell anemia. These treatments can be accessed through various channels, including hospital pharmacies, online providers, drug stores, and retail pharmacies.
The hemoglobinopathies treatment market research report is one of a series of new reports from The Business Research Company that provides hemoglobinopathies treatment market statistics, including hemoglobinopathies treatment industry global market size, regional shares, competitors with a hemoglobinopathies treatment market share, detailed hemoglobinopathies treatment market segments, market trends and opportunities, and any further data you may need to thrive in the hemoglobinopathies treatment industry. This hemoglobinopathies 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 hemoglobinopathies treatment market size has grown strongly in recent years. It will grow from $8.2 billion in 2023 to $9.01 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed during the historic period can be attributed to several factors, including scientific discoveries, medical advances, patient advocacy, increased public health awareness, and international collaboration through research consortia.
The hemoglobinopathies treatment market size is expected to see rapid growth in the next few years. It will grow to $13.2 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The anticipated growth in the forecast period can be attributed to several factors, including an increasing emphasis on personalized medicine, regulatory support for rare diseases, the implementation of prenatal screening programs, and the availability of genetic counseling services enabling early detection of hemoglobinopathies during pregnancy. Additionally, there is expected to be expanded adoption of disease-modifying therapies. Major trends expected in the forecast period include the development of novel drug therapies, cellular therapies, advancements in precision therapeutics, and the introduction of improved diagnostic tools.
The increasing prevalence of genetic inheritance is expected to drive the growth of the hemoglobinopathies treatment market in the future. Genetic inheritance involves the transmission of characteristics from parents to offspring through DNA during reproduction, whether sexual or asexual. Advances in genetic research and technology have underscored the significance of genetic factors in various diseases, including hemoglobinopathies, leading to improved targeted therapies, personalized medicine, drug development, and diagnosis. For example, according to Gene People, a UK-based registered charity, it is estimated that 1 in every 25 children has a genetic disorder, with approximately 30,000 babies and children newly diagnosed each year. Consequently, the increasing prevalence of genetic inheritance is a driving force behind the expansion of the hemoglobinopathies treatment market.
Key players in the hemoglobinopathies treatment market are actively developing cell-based gene therapies to offer potentially curative treatments for patients with these genetic conditions. Cell-based gene therapies for hemoglobinopathies hold promise in correcting underlying genetic defects, potentially providing long-term or curative effects, alleviating symptoms and complications, and advancing treatment options for affected individuals. For instance, in December 2023, Vertex Pharmaceuticals Incorporated, a US-based biotech company, introduced Casgevy for treating sickle cell disease (SCD) and transfusion-dependent beta thalassemia. Casgevy is a cell-based gene therapy employing CRISPR/Cas9 technology to edit patients' hematopoietic stem cells, enhancing the production of fetal hemoglobin to prevent red blood cell sickling. The therapy involves a one-time treatment process comprising the collection, editing, and reinfusion of the patient's stem cells.
In October 2022, Pfizer Inc., a US-based pharmaceutical and biotechnology company, acquired Global Blood Therapeutics Inc. for $5.4 billion, aiming to enhance its pipeline and portfolio for rare hematology, particularly in sickle cell disease (SCD), and to leverage its experience to better serve the underserved SCD patient community worldwide. Global Blood Therapeutics Inc., a US-based biopharmaceutical company dedicated to discovering, developing, and delivering drugs for hemoglobinopathies treatment, specializes in sickle cell disease.
Major companies operating in the hemoglobinopathies treatment market are Pfizer Inc., Sanofi S.A., Novartis AG, Bristol Myers Squibb, Gilead Sciences Inc., Vertex Pharmaceuticals Incorporated, Pharmacosmos A/S, Alnylam Pharmaceuticals, Global Blood Therapeutics Inc., Acceleron Pharma Inc., Sangamo Therapeutics Inc., Gamida Cell Ltd., Beam Therapeutics, Intellia Therapeutics, Adaptimmune Therapeutics, Orchard Therapeutics plc, Fresenius SE & Co. KGaA, Editas Medicine, Agios Pharmaceuticals Inc., Emmaus Life Sciences Inc., Bluebird Bio Inc, CRISPR Therapeutics AG, Bioverativ Inc., Celgene Corporation, EMI Holding Inc.
North America was the largest region in the hemoglobinopathies treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hemoglobinopathies treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hemoglobinopathies treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hemoglobinopathies treatment market consists of revenues earned by entities by providing services such as medication, blood transfusions, bone marrow transplantation, gene therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. The hemoglobinopathies treatment market also includes sales of iron chelation therapy and hydroxyurea. 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.
Hemoglobinopathies 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 hemoglobinopathies 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 hemoglobinopathies treatment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hemoglobinopathies 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.