Pune, India, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The global sickle cell disease treatment market size was valued at USD 1.73 billion in 2021. The market 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. Fortune Business Insights™ presents this information in its report titled “Sickle Cell Disease Treatment Market, 2022-2029.”
Key Industry Development
- 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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Important Growth Factors for Sickle Cell Disease Treatment Market:
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, limited availability of treatment solutions may hinder this industry’s growth in the coming years.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
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COVID-19 Impact
Lack of Donors Hindered Market Progress During the Pandemic
This market was negatively affected during the COVID-19 pandemic due to the lack of bone marrow donors. The sudden spike in COVID-19 infections led to the adoption of strict government lockdown regulations, thereby hindering the number of donations. Furthermore, the halt on manufacturing activities created a huge shortage of medical equipment required for treating sickle cell disorders. However, the post-COVID-19 phase empowered businesses to continue their operations, thereby fostering industry growth post the pandemic.
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, favorable reimbursement policies and rising sickle cell disorders are likely to favor market expansion. Furthermore, the increasing adoption of sickle cell disease treatments in the region is expected to favor market expansion.
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Segments
Blood Transfusion Segment to Lead Backed by Treatment Modality Stroke Management Benefits
By treatment modality, the market is segmented into marrow transplant, blood transfusion, and pharmacotherapy. The blood transfusion segment is expected to lead due to treatment modality stroke management benefits.
Hospitals Segment to Lead Owing to Increasing Prevalence of in-patient Visits
As per end-user, the market is classified into hospitals, specialty clinics, and others. The hospital segment is expected to dominate due to the rising prevalence of in-patient hospital visits.
Regionally, the market is studies across the U.S., Europe, and the rest of the world.
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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.
List of Key Players Profiled 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.)
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Some major points from Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Sickle Cell Disease, For Key Countries/ Regions
- Addressable Patient Population – For Branded Drugs
- Overview – Branded Drugs (Marketed)
- Pipeline Analysis
- New Product Launches
- Key Industry Developments (Mergers, Acquisitions, Partnership; etc.)
- Impact of COVID-19 on the Market
- Global Sickle Cell Disease Treatment Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Treatment Modality
- Bone Marrow Transplant
- Blood Transfusion
- Pharmacotherapy
- Hydroxyurea
- Branded Products
- Endari
- Adakveo
- Oxbryta
- PYRUKYND (Mitapivat)
- Zynteglo
- CTX001
- Inclacumab
- Vamifeport (VIT-2763)
- ALXN1820
- MGTA-145
- FT-4202
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country/Region
- U.S.
- Europe
- Rest of the World
- Market Analysis, Insights and Forecast – By Treatment Modality
- U.S. Sickle Cell Disease Treatment Market Analysis, Insights and Forecast, 2018-2029
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- Bone Marrow Transplant
- Blood Transfusion
- Pharmacotherapy
- Hydroxyurea
- Branded Products
- Endari
- Adakveo
- Oxbryta
- PYRUKYND (Mitapivat)
- Zynteglo
- CTX001
- Inclacumab
- Vamifeport (VIT-2763)
- ALXN1820
- MGTA-145
- FT-4202
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Specialty Clinics
- Others
-
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