Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global Sickle Cell Disease Treatment Market Size was valued at USD 1.73 billion in 2021 and is projected to grow from USD 2.25 billion in 2022 to USD 8.75 billion by 2029, exhibiting a CAGR of 21.4% during the forecast period.
The increasing prevalence of sickle cell diseases and increasing focus on effective drug launches are estimated to propel market progress. This information is provided by Fortune Business Insights™ in its research report titled Sickle Cell Disease Treatment Market, 2022-2029.
Key Industry Development-
- August 2022: Bluebird Bio Inc. disclosed details regarding its U.S. commercial infrastructures to back rapid access to ZYNTEGLO and its comprehensive patient support initiative.
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Key Takeaways –
- North America to dominate sickle cell treatment market
- Rising disease prevalence and severity drive demand for effective treatments.
- Emergence of New Treatment Modalities to Contribute to Market Growth
- The blood transfusion segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Bristol-Myers Squibb Company (U.S.)
- Addmedica (France)
- Novartis AG (Switzerland)
- Global Blood Therapeutics, Inc. (Pfizer Inc.) (U.S.)
- Emmaus Medical, Inc. (U.S.)
- Bluebird Bio Inc. (U.S.)
- Agios Pharmaceuticals, Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 21.4% |
| 2029 Value Projection | USD 8.75 Billion |
| Base Year | 2021 |
| Sickle Cell Disease Treatment Market Size in 2021 | USD 1.73 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 103 |
| Segments covered | Treatment Modality, End User and Geography |
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Drivers & Restraints:
High Severity Associated with the Disorders to Propel Market Progress
Sickle cell disease treatment refers to a number of procedures designed to cure sickle cell disorders. The demand for effective treatment procedures is expected to increase due to the rising awareness of the disease's severity. Furthermore, the increasing healthcare and medical spending is expected to foster the demand for sickle cell disease treatment procedures. Moreover, a rising focus on the development of effective solutions for the treatment of sickle cell disease is expected to foster the adoption of effective treatments. These factors may drive the sickle cell disease treatment market growth.
However, the limited availability of treatment solutions may hinder this industry’s growth in the coming years.
Segmentation:
By Treatment Modality
- Bone Marrow Transplant
- Blood Transfusion
- Pharmacotherapy
- Hydroxyurea
- Branded Products
- Endari
- Adakveo
- Oxbryta
- Zynteglo
- PYRUKYND (Mitapivat)
- CTX001
- Inclacumab
- MGTA-145
- Vamifeport (VIT-2763)
- ALXN1820
- FT-4202
By End-user
- Hospitals
- Specialty Clinics
- Others
Regional Insights:
Increasing Collaborations and Strong Government Support to Favor Market Progress in North America
North America is expected to dominate the sickle cell disease treatment market share due to rising collaborations and strong government support for the development of sickle cell disease treatment. The market in the U.S. stood at USD 1.05 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years.
In Europe, favourable reimbursement policies and rising sickle cell disorders are likely to favour market expansion. Furthermore, the increasing adoption of sickle cell disease treatments in the region is expected to favor market expansion.
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Competitive Landscape:
Major Companies Deploy Partnerships to Enhance Their Offerings
The prominent companies operating in the market deploy partnerships to enhance their product offerings. For example, Emmaus Life Sciences, Inc. partnered with UpScript IP Holdings, LLC. (UpScript) to provide telehealth solutions to patients suffering from sickle cell disease in November 2021. This strategy may enable the company to enhance its offerings and boost its brand image. Furthermore, the major players operating in the market devise mergers, partnerships, acquisitions, product launches, innovations, research and development, and industrial automation to boost their market position.
FAQs
How big is the Sickle Cell Disease Treatment Market?
Sickle Cell Disease Treatment Market size was USD 1.73 billion in 2021. It is expected to reach USD 8.75 billion in 2029.
How fast is the Sickle Cell Disease Treatment Market growing?
The Sickle Cell Disease Treatment Market will exhibit a CAGR of 21.4% during the forecast period, 2022-2029.
Related Reports:
Blood Transfusion Diagnostics Market Size, Share, Revenue Forecast and Opportunities
Allogeneic Stem Cells Market Overview, Industry Share and Forecast
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