Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Global Sickle Cell Disease Treatment Market Size was valued at USD 2.25 billion in 2022 and is projected to USD 9.84 billion by 2030 exhibiting a CAGR of 20.1% during the forecast period. Increasing Collaborations and Strong Government Support to Favor Market Progress in US, Introduction of New Treatment Solutions to Boost Market Growth.
The increasing prevalence of Sickle Cell Disease (SCD) is driving market growth. Growing awareness about SCD 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, 2023-2030.
Key Industry Development-
- June 2023: Novartis AG partnered with American Society of Hematology (ASH) to provide six African nations with technology for the diagnosis of sickle cell disease in children.
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Key Takeaways –
- Sickle Cell Disease Treatment Market size in U.S. was USD 1.44 billion in 2022.
- Rising disease prevalence and severity drive demand for effective treatments.
- Advent of Novel Treatment Solutions to Contribute to Market Growth.
- The pharmacotherapy 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 | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 20.1% |
| 2030 Value Projection | USD 9.84 Billion |
| Base Year | 2022 |
| Sickle Cell Disease Treatment Market Size in 2022 | USD 2.25 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 103 |
| Segments covered | Treatment Modality, End User and Geography |
Browse Complete Report Details- https://www.fortunebusinessinsights.com/industry-reports/sickle-cell-disease-treatment-market-101009
Drivers & Restraints:
Introduction of New Treatment Solutions to Boost Market Growth
In the past, bone marrow transplants and blood transfusions were the only treatments for sickle cell disease. The increasing SCD prevalence and growing awareness about the disease pushed market participants to develop novel solutions. Increasing preference for effective treatment solutions for sickle cell diseases is expected to boost market expansion. Leading companies are concentrating on introducing new products for sickle cell disease treatment.
However, a lack of awareness about SCD among the population in emerging economies is impeding market growth.
Regional Insights:
Increasing Collaborations and Strong Government Support to Favor Market Progress in the U.S.
The U.S. dominated the global market revenue. Market growth in the country is attributed to a rise in collaborations to advance disease treatment, promising pipeline candidates, and favorable government support. Better access to SCD treatment in the country is contributing to market expansion in the U.S.
Europe held a significant market share. Market growth in the region is driven by supportive reimbursement policies. In Europe, rising sickle cell disorders are likely to favor market expansion. Furthermore, the surging focus on increasing their product offerings by key players in the region is expected to favor market expansion.
Segmentation
Blood Transfusion Segment Dominated the Market due to Stroke Management Benefits
By treatment modality, the market is classified into bone marrow transplant, blood transfusion, and pharmacotherapy.
The blood transfusion segment led the global sickle cell disease treatment market share. Strokes are one of the serious symptoms of SCD. Blood transfusion is the most efficient treatment solution to manage strokes. The increasing need for blood transfusion treatment due to the rising of episodes of strokes among SCD patients is boosting segment growth.
Hospitals Segment Led the Market owing to Increasing Prevalence of In-patient Visits
Based on end-user, the market is divided into hospitals, specialty clinics, and others.
Hospitals registered a significant market share. The segment growth is driven by a rise in the prevalence of in-patient visits for sickle cell disease treatment and the rising incidence of SCD.
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Sickle Cell Disease, For Key Countries/ Regions, 2023
- Overview – Branded Drugs (Marketed)
- Pipeline Analysis, Key Players
- 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, 2019-2030
- Market Analysis, Insights and Forecast – By Treatment Modality
- Bone Marrow Transplant
- Blood Transfusion
- Pharmacotherapy
- Market Analysis, Insights and Forecast – By Treatment Modality
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-
-
- Hydroxyurea
- Branded Products
- Endari
- Adakveo
- Oxbryta
- PYRUKYND (Mitapivat)
- Zynteglo
- CTX001
- Inclacumab
- Vamifeport (VIT-2763)
- ALXN1820
- MGTA-145
- FT-4202
- GBT021601
-
-
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- 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 End-user
- U.S. Sickle Cell Disease Treatment Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Treatment Modality
- Bone Marrow Transplant
- Blood Transfusion
- Pharmacotherapy
- Market Analysis, Insights and Forecast – By Treatment Modality
-
-
-
- Hydroxyurea
- Branded Products
- Endari
- Adakveo
- Oxbryta
- PYRUKYND (Mitapivat)
- Zynteglo
- CTX001
- Inclacumab
- Vamifeport (VIT-2763)
- ALXN1820
- MGTA-145
- FT-4202
- GBT021601
-
-
-
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By End-user
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Competitive Landscape:
Major Companies Deploy Partnerships to Enhance their Product Offerings
Novartis AG accounted for a considerable share of the market. The company is emphasizing partnerships with many government organizations. This enables the company to accomplish patient needs. The company gained a prominent position in the market due to its constant focus on increasing product availability.
In June 2020, with the signing of two new memoranda of understanding with the Ministries of Health of Uganda and Tanzania, Novartis AG confirmed the expansion of the Africa Sickle Cell Disease program to East Africa. The program’s objective is to enhance and extend the lives of SCD patients in sub-Saharan Africa.
FAQs
How big is the Sickle Cell Disease Treatment Market?
Sickle Cell Disease Treatment Market size was USD 2.25 billion in 2022. It is expected to reach USD 9.84 billion in 2030.
How fast is the Sickle Cell Disease Treatment Market growing?
The Sickle Cell Disease Treatment Market will exhibit a CAGR of 20.1% during the forecast period, 2023-2030.
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