Hemoglobinopathies Market Size is projected to reach USD 21 Billion by 2032, growing at A CAGR of 9.3%
Ngày đăng: 18-01-2024 |
Ngày cập nhật: 18-01-2024
Market Overview In 2022, the global hemoglobinopathies market reached a size of USD 9.43 billion, with expectations to reach USD 21 billion by 2032, showing a robust compound annual growth rate (CAGR) of 9.3% throughout the forecast period. The surge in market revenue is attributed to the increasing prevalence of hemoglobin disorders, specifically sickle cell anemia and thalassemia, particularly in emerging economies. The World Health Organization (WHO) estimates that each year, around 300,000 newborns, predominantly in sub-Saharan Africa, are born with sickle cell anemia, affecting approximately 5% of the global population.
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Technological advancements in hemoglobinopathy diagnosis and treatment, particularly gene therapy and stem cell transplant, contribute significantly to market growth. These advancements provide potential treatments for hemoglobinopathies and have demonstrated positive outcomes in clinical studies. Additionally, rising governmental initiatives and funding for Research & Development (R&D) in hemoglobinopathies further boost market revenue.
Newborn screening programs and prenatal diagnosis for hemoglobin problems are gaining importance, leading to increased utilization of hemoglobinopathy diagnosis and treatment. This is especially crucial in developing nations where awareness and screening campaigns are in their early stages. Growing awareness among patients and healthcare professionals about the importance of early diagnosis and treatment, particularly in the case of sickle cell anemia, is anticipated to fuel market growth by improving patient outcomes and reducing medical expenses.
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Technological advancements in hemoglobinopathy diagnosis and treatment, particularly gene therapy and stem cell transplant, contribute significantly to market growth. These advancements provide potential treatments for hemoglobinopathies and have demonstrated positive outcomes in clinical studies. Additionally, rising governmental initiatives and funding for Research & Development (R&D) in hemoglobinopathies further boost market revenue.
Newborn screening programs and prenatal diagnosis for hemoglobin problems are gaining importance, leading to increased utilization of hemoglobinopathy diagnosis and treatment. This is especially crucial in developing nations where awareness and screening campaigns are in their early stages. Growing awareness among patients and healthcare professionals about the importance of early diagnosis and treatment, particularly in the case of sickle cell anemia, is anticipated to fuel market growth by improving patient outcomes and reducing medical expenses.
Key Insights Type Breakdown:
- In 2021, sickle cell anemia commanded a significant market share, primarily attributed to its high prevalence in regions like sub-Saharan Africa, India, and the Middle East.
- Thalassemia is poised for substantial revenue growth, fueled by an increasing prevalence and growing acceptance of advanced treatment options.
- Market expansion is expected through the contribution of other hemoglobinopathies, including hemoglobin E disease, hemoglobin C disease, and hemoglobin D disease.
Treatment Types:
- Blood transfusion holds a dominant position in the market share, owing to its effectiveness in treating anemia in hemoglobinopathy patients.
- Bone marrow transplantation is anticipated to exhibit the fastest revenue growth, providing a long-term solution for hemoglobinopathies.
- Gene therapy is gaining popularity, demonstrating promising results in clinical trials.
- North America leads the market, driven by a high prevalence of hemoglobinopathies and well-established healthcare infrastructure.
- Europe follows, with a substantial market share attributed to the prevalence of sickle cell disease and thalassemia.
- The Asia Pacific region is expected to witness significant growth due to increasing prevalence in countries like China and India.
- The Middle East and Africa have a sizable market share, given the high frequency of thalassemia and sickle cell disease.
- Major players in the global hemoglobinopathies market include Bluebird Bio, Crispr Therapeutics, Editas Medicine, Gene Therapy Program at the University of Pennsylvania, Genethon, Genomics plc, Gilead Sciences, Global Blood Therapeutics, Moderna, Novartis, and Sangamo Therapeutics.
- Companies like Novartis, Global Blood Therapeutics, Editas Medicine, Bluebird Bio, and Crispr Therapeutics have announced significant developments and positive results from studies related to hemoglobinopathies.
- The market size in 2022 was USD 9.43 billion, with a projected CAGR of 9.3% from 2022 to 2032.
- The forecasted revenue in 2032 is USD 21 billion.
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
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