Burlingame, May 17, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Hemoglobinopathy Market is estimated to be valued at US$ 636.9 million in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).
Analysts’ Views on Global Hemoglobinopathy Market:
Adoption of organic strategies such as product approvals by various regulatory authorities is expected to drive market growth over the forecast period. For instance, in November 2019, Novartis AG, a multinational pharmaceutical corporation, announced today that the US Food and Drug Administration (FDA) approved Adakveo (crizanlizumab), previously known as SEG101, to reduce the frequency of vaso-occlusive crises (VOCs), or pain crises, in adult and pediatric patients aged 16 years and older with sickle cell disease.
Global Hemoglobinopathy Market- Driver
Increasing demand for therapies
Increasing demad for therapies due to increasing prevalence of diseases such as sickle cell anemia is expected to drive market growth over the forecast period. For instance, in June 2022, according to a report published on National Center for Biotechnology Information (NCBI), stated that sickle cell disease (SCD) has a high prevalence and social impact worldwide, with a high mortality.
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Global Hemoglobinopathy Market- Restraint
Failing clinical trials for the treatment of sickle cell anemia
The major factors that can hamper the growth of the global hemoglobinopathy market over the forecast period include failing clinical trials for the treatment if sickle cell anemia. For instance, on January 27 2023, Novartis AG, is a multinational pharmaceutical corporation, announced that its sickle cell drug, approved in 2019 and branded as Adakveo, has failed an ongoing Phase III, according to preliminary results.
Global Hemoglobinopathy Market- Opportunity
Increasing launch of integrated centres for treatment and diagnose of sickle cell anemia
Increasing launch of integrated centres for treatment and diagnose of sickle cell anemia is expected to offer lucrative growth opportunities for players in the global hemoglobinopathy market which is expected to drive the global hemoglobinopathy market growth over the forecast period. For instance, on February 3 2023, the Government of India announced the launch of integrated centre for hemophilia and heoglobinopathies in 22 tribal district of Madhya Pradesh for treatment and diagnose of sickle cell anemia patients.
Global Hemoglobinopathy Market Cross Sectional Analysis:
Among indication, the Beta Thalassemia segment is dominant during the forecast period in North America region due to the increasing prevalence of Beta Thalassemia which is expected to drive segment growth over the forecast period. For instance, in July 2021, according to a phase I trial conducted by Agios Pharmaceuticals, Inc., a biopharmaceutical company, stated that in the U.S., the estimated population-based prevalence of alpha- and beta-thalassemia combined was 5.7/100,000 people.
Global Hemoglobinopathy Market Segmentation:
The global hemoglobinopathy market report is segmented into Test Type, Indication, End User and Region
Based on Test Type, the market is segmented into Routine Red Blood Cell (RBC) count, Genetic Testing, Hemoglobin by high performance liquid chromatography, Hemoglobin isoelectric focusing ( Hb IEF), Hemoglobin electrophoresis (Hb ELP), Hemoglobin solubility test. Out of which, the Routine Red Blood Cell (RBC) count segment is expected to dominate the hemoglobinopathy market during the forecast period and this is due to the increase in the usage of Routine Red Blood Cell (RBC) count for the hemoglobinopathy testing.
Based on Indication, the hemoglobinopathy market is segmented into sickle cell disease, beta thalassemia, alpha thalassemia. Beta Thalassemia segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of sickle cell disease.
Based on End User, the market is segmented into hospitals, diagnostic laboratories, clinics. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to the increase in the number of new hospitals for the management of sickle cell disease over the forecast period.
Among all segmentation, indication segment has the highest potential due to the increasing prevalence of sickle cell anemia. For instance, in November 2020, according to John Wiley & Sons, Inc., a multinational publishing company, stated that the overall prevalence of sickle cell disease was 9.7%
Hemoglobinopathy Market Report Coverage
| Report Coverage | Details | |||
| Base Year: | 2022 | Market Size in 2023: | US$ 636.9 Mn | |
| Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 | |
| Forecast Period 2023 to 2030 CAGR: | 5.9% | 2030 Value Projection: | US$ 950.6 Mn | |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: | Anamol Laboratories Pvt. Ltd., Bio-Rad Laboratories, Inc., PerkinElmer Inc., Zentech, Sebia, Sysmex Europe SE, Nanjing Poclight Biotechnology Co., Ltd, Abbott, Danaher, ReachBio LLC, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Nexcelom Bioscience LLC., NIHON KOHDEN CORPORATION, Siemens Healthcare GmbH, CRISPR Therapeutics. | |||
| Growth Drivers: |
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| Restraints & Challenges: |
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Global Hemoglobinopathy Market: Key Developments
Major players in the market are focused on launch of clinical trials and collaboration to expand their product portfolio. For instance, in June 2021, Bristol-Myers Squibb Company, a specialty biopharmaceutical company, and Acceleron Pharma Inc., an American clinical stage biopharmaceutical company, announced the first data from the Phase 2 study evaluating Reblozyl (luspatercept-aamt), a first-in-class erythroid maturation agent, best supportive care in adult patients with non-transfusion dependent (NTD) beta thalassemia.
In June 2022, Precision BioSciences, a clinical stage gene editing company developing ARCUS-based ex vivo allogeneic CAR T and in vivo gene editing therapies, announced it has entered into an exclusive worldwide in vivo gene editing research and development collaboration and license agreement with Novartis AG, a global healthcare company, to develop potentially curative treatment for disorders including sickle cell disease.
Key Market Takeaways:
The global hemoglobinopathy market is expected to exhibit a CAGR of 5.9% during the forecast period due to the increasing prevalence of sickle cell disease. For instance, in February 2021, according to Orphanet, an information provider, stated that worldwide, it is estimated that there are over 400,000 newborns with sickle cell anemia.
Among indication, sickle cell disease segment is dominant due to the increasing prevalence of sickle cell disease, which is expected to drive the segment growth over the forecast period. For instance, on January 13 2023, according to report published by Dove Press Ltd, an academic publisher of open access peer-reviewed scientific and medical journals, stated that sickle cell disease affects more than 20,000 per 1,000,000 of the Nigerian population.
Competitive Landscape:
Key players operating in the global hemoglobinopathy market include Anamol Laboratories Pvt. Ltd., Bio-Rad Laboratories, Inc., PerkinElmer Inc., Zentech, Sebia, Sysmex Europe SE, Nanjing Poclight Biotechnology Co., Ltd, Abbott, Danaher, ReachBio LLC, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Nexcelom Bioscience LLC., NIHON KOHDEN CORPORATION, Siemens Healthcare GmbH, CRISPR Therapeutics.
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Market Segmentation:
- Global Hemoglobinopathy Market, By Test Type:
- Routine Red Blood Cell (RBC) count
- Genetic Testing
- Hemoglobin by high performance liquid chromatography
- Hemoglobin isoelectric focusing ( Hb IEF)
- Hemoglobin electrophoresis (Hb ELP)
- Hemoglobin solubility test
- Global Hemoglobinopathy Market, By Indication:
- Sickle Cell Disease
- Beta Thalassemia
- Alpha Thalassemia
- Global Hemoglobinopathy Market, By End User:
- Hospitals
- Diagnostic Laboratories
- Clinics
- Global Hemoglobinopathy Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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