The new report by Expert Market Research titled, ‘Global Sickle Cell Disease Treatment Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global sickle cell disease treatment market, assessing the market based on its segments like treatment and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 3.4 Billion
- Forecast CAGR (2023-2028): 16.9%
- Forecast Market Size (2026): USD 8.50 Billion
The blood transfusion segment of the sickle cell disease treatment business is expected to account for a large market share based on treatment. This rise can be attributed to the fact that blood transfusion treatment is more accessible than other types of treatment. Blood transfusions also aid in the treatment of anaemia and the prevention of stroke. It’s also used to treat chronic discomfort, acute chest syndrome, splenic sequestration, and other consequences by diluting sickled haemoglobin with normal haemoglobin. As a result, during the forecast period, this category is expected to favourably catalyse market expansion. According to WHO estimates, about 5% of the global population has trait genes for haemoglobin opathies, primarily sickle-cell disease and thalassaemia. In addition, each year, more than 300,000 newborns are born with severe haemoglobin abnormalities. International organisations and countries are strategizing steps to control and prevent the hazards of sickle cell disease. Furthermore, governments are progressively investing in the healthcare sector to lower mortality risks as the world’s geriatric population grows, making them more susceptible to chronic diseases. As a result, sickle cell disease treatment is in high demand for the disease’s early identification. For example, The Kidney Cancer Association (KCA) and the Sickle Cell Disease Association of America, Inc. (SCDAA) teamed up to establish the KNOW & TELL campaign to promote awareness of sickle cell trait and its possible link to renal medullary carcinoma, a rare kind of kidney cancer (RMC). In the projected period, such measures are expected to boost market growth.
Sickle Cell Disease Treatment Industry Definition and Major Segments
Sickle cell disease is a type of blood illness that affects many people. Children with sickle cell disease or sickle cell trait inherit this condition from their parents. This condition causes the production of aberrant haemoglobin, which is stiff and shaped like a sickle that can get trapped and restrict blood flow, obstructing oxygen delivery. Pain, infections, stroke, acute chest syndrome, organ damage, and other problems are a result of this. In rare cases, the severe problems associated with sickle cell disease include premature mortality.
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Based on treatment, the market is segmented into:
- Blood Transfusion
- Bone Marrow Transplant
On the Basis of region, the market can be divided into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Sickle Cell Disease Treatment Market Trends
In the forecast period, North America is expected to hold a significant proportion of the sickle cell disease treatment market. The presence of a significant African-American population in the area, which is more susceptible to sickle cell disease, is considered to be the reason for this rise. Furthermore, greater access to resources and treatment facilities, as well as increased disposable money and highly modern healthcare infrastructure, are all contributing to the expansion. In the meantime, the prevalence of sickle cell disease in African nations such as Cameroon, the Republic of Congo, Gabon, Ghana, and Nigeria is between 20% and 30%. At the same time, the WHO reports that it is as high as 45 percent in some parts of Uganda. Furthermore, the majority of children with the most severe form of the condition die before reaching the age of five in this location, frequently as a result of infection or substantial blood loss. As a result, the market is likely to benefit from rising awareness about sickle cell disease therapy as well as improved healthcare facilities in Africa.
Key Market Players
The major players in the market are Emmaus Life Sciences Inc., Global Blood Therapeutics Inc., Bluebird Bio Inc., Pfizer Inc., Novartis International Ag, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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