Global Hemoglobinopathies Market Overview
The key driver impacting the hemoglobinopathies market is the huge prevalence of conditions such as thalassemia, sickle cell disease (SCD), and thalassemia. For instance, According to the World Health Organization, Haemoglobin disorders are considered the most critical health problem in 71% of 229 countries, and this 71% of countries include 89% of all births globally. Approximately 330 000 affected infants are born annually, in which 83% sickle cell disorders and 17% are affected by thalassaemias. The report published by the American Society of Hematology presents that there are over 95% of children born with thalassemia globally are from low- and middle-income countries, and less than 5% of children are born with thalassemia in the European and North America region. The presence of a strong product pipeline for the hemoglobinopathies treatment is also positively impacting the market growth. Moreover, the advancement in diagnostics and therapeutics and increased awareness about genetic testing for sickle cell anemia diagnosis contributes to the hemoglobinopathies market's growth in the coming years.
According to Value Market Research, the global hemoglobinopathies market size was valued at around USD 7000 million in 2020 and is estimated to grow at a CAGR of about 10.5% during the forecast period 2021 to 2027.
The increasing blood cancer cases among the population are estimated to augment hemoglobinopathies needs in the forecast period. For example, As per the Leukemia & Lymphoma Society, one person in the United States (US) is diagnosed with blood cancer every 3 minutes. Around 178,520 people are estimated to be diagnosed with lymphoma or myeloma and leukemia in 2020. In the U.S. leukemia, lymphoma, and myeloma new cases are anticipated to make up 9.9% of the estimated 1,806,590 new cancer cases diagnosed in 2020. However, the high treatment cost may hamper the market in the long run. Also, the lack of healthcare infrastructure negatively impacts the market. The current industry trends, such as the increasing R&D investment and initiatives to improve disease awareness levels, are likely to provide market players with new market opportunities.
The hemoglobinopathies market is vast, with many local and global players. The hemoglobinopathies market is extensive, with many international and regional players. The key market leaders follow several strategies to increase their market statuses, such as extending product portfolio, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The important players studied in the report are Sangamo Therapeutics, Inc., bluebird bio, Inc., Pfizer, Inc., Prolong Pharmaceuticals LLC, Gamida Cell, Global Blood Therapeutics, Inc., Emmaus Life Sciences Inc., Novartis AG, and Bioverativ Inc.
In this research report, the hemoglobinopathies market is segmented by type, diagnosis, therapy, and region.
Analysis by Type
By type, the report is categorized into Thalassemia, sickle cell disease, other hemoglobin (HB) variants. Sickle cell disease dominates the type segment with over 56.6% share in 2020. It is due to the growing initiatives by biopharmaceutical companies and nonprofit organizations focused on improving access to SCD treatment. Moreover, the growing prevalence of disease globally contributes to the growth of the sickle cell disease segment in the forecast period.
Analysis by Diagnosis
By diagnosis, the report is categorized into thalassemia, sickle cell disease, other hemoglobin (HB) variants. Sickle cell disease dominates the diagnosis segment with over 50% share in 2020. It is due to the high diagnostic rates in the North American region. Blood tests are majorly used for the SCD diagnosis in patients. Moreover, introducing newborn baby screening programs for sickle cell disease in countries such as the U.S., France, and Italy is adding growth to this segment in the coming years.
Analysis by Therapy:
By therapy, the report is categorized into thalassemia, sickle cell disease, other hemoglobin (HB) variants. Sickle cell disease dominates the therapy segment with over 59.4% share in 2020. It is due to the extensive research that has been carried out to develop novel therapies for treating the disorder. Moreover, a strong product pipeline of gene therapy products, which includes HGB-206 (bluebird bio, Inc), CTX001 (CRISPR Therapeutics), and BIVV003 (Bioverativ Inc, and Sangamo Therapeutics, Inc. ) contributes to the increased market demand in the forecast period.
Analysis by Region:
In the regional outlook of the global Hemoglobinopathies market, the North America region dominates globally with a 35% market share in the forecast period. It is due to the increasing awareness of hemoglobinopathies among people and improving healthcare facilities. Research organizations and government bodies undertake various initiatives to promote research for developing novel therapies for treating hemoglobinopathies. For instance, The Sickle Cell Disease Coalition generates awareness, funds research programs, and offers access to treatment across the U.S. Moreover, the presence of advanced diagnosis and treatment methods for common and rare genetic diseases, such as sickle cell disease and thalassemia, contribute to market growth across North America.
Market Segmentation covered in the Report:
- Sickle Cell Disease
- Other Hemoglobin (Hb) Variants
- Thalassemia (Blood Test, Genetic Test, Prenatal Genetic Test, Pre-implantation Genetic Diagnosis, Electrophoresis, Others)
- Sickle Cell Disease (Blood Test, Genetic Test, Prenatal Genetic Test, Pre-implantation Genetic Diagnosis, Electrophoresis, Others)
- Other Hemoglobin (Hb) Variants (Blood Test, Genetic Test, Prenatal Genetic Test, Pre-implantation Genetic Diagnosis, Electrophoresis, Others)
- Thalassemia (Blood Transfusion, Iron Chelation Therapy, Bone Marrow Transplant, Others)
- Sickle Cell Disease (Blood Transfusion, Hydroxyurea, Bone Marrow Transplant, Others)
- Other Hemoglobin (Hb) Variants (Blood Transfusion, Hydroxyurea, Iron Chelation Therapy, Bone Marrow Transplant, Others)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.