LOS ANGELES, May 22, 2019 (GLOBE NEWSWIRE) -- The Global Hemoglobinopathy Market is estimated to grow at CAGR above 10 % over the forecast time frame 2019-2026 and reach the market value around USD 12 billion 2026.
Hemoglobinopathies are a variety of congenital blood disorders caused by structural and/or synthesis differences of hemoglobin. Hemoglobinopathy is a genetic single-gene disorder that results in an anemia or other medical abnormalities in one of the hemoglobin molecule's globin chains that cannot carry oxygen through the body. Sickle cell disease, beta thalassemia and alpha thalassemia are the most common hemoglobinopathies.
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The growth of the world market for hemoglobinopathy is mainly driven by the increasing prevalence of hemoglobinopathies in developed countries, high-level diseases, a variety of government support initiatives and NGO funding. Advanced diagnostic and therapeutic factors, favorable diagnostic and therapy reward scenarios, economical approaches such as genetic testing and developing rapid point of care diagnostic methods are other factors that drive the global hemoglobinopathy market.
Moreover, rising incidence is projected to be a major driving force for market hemoglobin illnesses like sickle cell disease (SCD), thalassemia, Hb C and Hb E. In more than 60% of 229 nations affected by more than 70% of births, hemoglobin illnesses are prevalent, according to the World Health Organization (WHO). There have also been reports of considerable variability in hemoglobin, with a minimum of 5% of the globe inhabitants.
In low-income countries in such areas as Sub-Saharan and Southeast Asia, the prevalence of hemoglobinopathy is high. The ancestral base in these regions is 85% of the affected population of the U.S. and Europe.
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Governments work with local institutes to develop sensitisation programs aimed at limiting the effect of the mortality rate associated with hemoglobinopathies. In 2016, for example, in order to raise awareness of this condition and improve individual outcomes, the Sickle Cell Disease Coalition (SCDC) has been founded by the American Society of Hematology (ASH).
Regional Stance
Due to the presence of high unexpected clinical requirements, improved health infrastructure and growing economic levels, the Asia Pacific forecast will show lucrative growth over the period. In addition, it is likely that hemoglobinopathies may further boost growth if low cost diagnostic options are introduced.
Insufficient health infrastructures and low levels of disease diagnostics and treatments are some of the key contributing factors, for example in south-east Asia, the Mediterranean Basin and Africa, for increasing the target population.
In 2018, North America led the overall sales market for hemoglobinopathies. The growth factors are attributed with the increased prevalence of blood disorders, positive government programs and high awareness of hemoglobinopathic genetic testing among health care professionals and patients.
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Key Findings
Due to an increase in sickle cell diseases and a strong product pipeline such as LentiGlobin, SCD segments held the largest market share in 2018.
Genetic tests are expected to show lucrative growth over the period forecast for diagnosing sickle cell disorders.
Increasing awareness in conjunction with increasing government programs is expected to increase diagnostic test rates for SCD Genetic diagnostic tests due to rising public awareness and increasing health expenses, and is expected to be more than 8.0% for the forecast period.
Due to the high acceptance and significant success rate of this treatment option and bloody transfusion was the most important treatment segment for hemoglobinopathies.
Key Players & Strategies
With the presence of regional and local players, the world Hemoglobinopathy market is fragmented. The market has been acquired by major companies by key manufacturers. Alnylam Pharmaceuticals; Gamida Cell; Global Blood Therapeutics Inc.; bluebird media Inc.; Emmaus Life Sciences Inc.; Sanofi: Prolong Pharmaciens; and Celgene Corporation are the main business competitors.
Key competitors focus on cooperation and licensing agreements for the exchange of technical knowledge linked to therapeutic haemoglobinopathy. For example, in January 2014, the global cooperation agreement for therapeutic development of hemoglobinopathy was announced by Bioverativ and Sangamo Therapeutics, Inc.
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