Hemoglobinopathies Market Size, Share, Growth, Trends and Forecast Reportby Susan Hill Business Consultant
The global hemoglobinopathies market size is expected to reach USD 12.6 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 10.2% during the forecast period.
Rising prevalence of hemoglobin disorders such as Sickle Cell Disease (SCD), thalassemia, Hb C, and Hb E is estimated to be a high impact rendering driver for the market. According to the World Health Organization (WHO), hemoglobin disorders are endemic in over 60% of 229 countries affecting over 70% of births. It is also reported that minimum 5% of the world population are carriers of significant hemoglobin variation.
Prevalence of hemoglobinopathies is high in low-income countries from regions, such as Sub-Saharan region and South-east Asia. 85% of the affected population in U.S. and Europe has ancestral base in these regions.
Governments are collaborating with local institutes to undertake awareness programs for curbing the effect of hemoglobinopathies-related mortality rate. For instance, Sickle Cell Disease Coalition (SCDC) was founded by The American Society of Hematology (ASH) in 2016 to promote awareness for the condition and enhance outcomes for individuals.
Insufficient healthcare infrastructure and low levels of disease diagnosis and treatments are some of the key factors contributing to the increase in target population in low-income regions such as South-east Asia, Mediterranean basin, and Africa.
North America led the overall hemoglobinopathies market in terms of revenue in 2018. Growing prevalence of blood disorders, favorable government programs, and high level of awareness among healthcare professionals and patients for hemoglobinopathies-related genetic testing, are the factors attributed to the growth.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to the presence of high unmet clinical needs, improving healthcare infrastructure, and rising economic levels. Moreover, introduction of low-cost diagnostic alternatives for hemoglobinopathies is likely to further boost the growth.
Further key findings from the report suggest:
- SCD segment held the largest market share in 2018 owing to rising prevalence of sickle cell disease and presence of strong product pipeline such as LentiGlobin
- Genetic testing for diagnosis of sickle cell disorders is expected to witness lucrative growth over the forecast period. Increasing awareness coupled with rising government programs is anticipated to enhance the usage rates for diagnostic tests pertaining to SCD
- Pre-implant genetic diagnosis is estimated to witness lucrative CAGR of over 8.0% during the forecast period owing to rising awareness levels among the population and increasing healthcare expenditure
- Blood transfusion was the largest therapy segment for hemoglobinopathies, owing to high acceptance of this treatment option and significant success rate
- Key market
players include Gamida Cell; Alnylam Pharmaceuticals; Sanofi; Sangamo
Therapeutics Inc.; Global Blood Therapeutics; bluebird bio Inc.; Emmaus
Life Sciences Inc.; Prolong Pharmaceuticals; and Celgene Corporation
Access full research report on global hemoglobinopathies market: www.grandviewresearch.com/industry-analysis/hemoglobinopathies-market
Created on Sep 10th 2019 02:17. Viewed 195 times.