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Global Haemoglobinopathies Market to Grow at a CAGR of 7.8% During 2021-2026, Aided by the Growing Prevalence of Haemoglobinopathies

According to a new report by EMR titled, ‘Global Haemoglobinopathies Market Report and Forecast 2021-2026’, the global market for haemoglobinopathies is expected to grow at a CAGR of 7.8% between 2021 and 2026.

The haemoglobinopathies industry is being driven by the growing occurrence of haemoglobinopathies across the globe. Based on end use, the diagnostic laboratories are expected to account for a significant share in industry over the forecast period. The growth can be attributed to the development of advanced diagnostic facilities in different parts of the world. Moreover, the increasing initiatives by the government and private organisations to spread awareness regarding haemoglobinopathies is further aiding the industry growth. For instance, in September 2018, the National Institutes of Health launched the Cure Sickle Cell Initiative to forward the development of cures for sickle cell disease, which has significantly contributed to the market growth. This initiative will take support of the latest genetic discoveries and technological advances to move forward and discover the most promising genetic-based curative therapies safely into clinical trials in the coming years. Some of the key players in the industry include Bluebird Bio, Inc. (NASDAQ: BLUE) and Global Blood Therapeutics, Inc. (NASDAQ: GBT).

According to estimates, there are over 100,000 people age 12 years and older in the Gulf Cooperation Council (GCC) region, living with sickle cell disease (SCD). In September 2020, Global Blood Therapeutics, Inc. announced that the company has entered into an agreement with Biopharma-Middle East and Africa (Biopharma-MEA) to distribute Oxbryta® (voxelotor) tablets in six middle eastern countries, namely, Bahrain, Kuwait, Oman, Saudi Arabia, Qatar, and the United Arab Emirates, which collectively form the GCC region. In November 2019, Oxbryta, which is an oral, once-daily therapy for people suffering from sickle cell disease, received accelerated approval from the U.S. Food and Drug Administration (FDA) for the treatment of SCD in adults and children 12 years of age and older. Such developments are expected to drive the haemoglobinopathies industry growth over the forecast period.

Market Breakup by Type, Test Type, End Use, and Region:

  • On the basis of type, the industry can be segmented into thalassemia, and sickle cell disease, among others. Further, the thalassemia segment, based on type, can be sub-divided into alpha thalassemia and beta thalassemia.
  • Based on test type, the industry can be categorised into routine red blood cell (RBC) count, genetic testing, haemoglobin by high performance liquid chromatography, haemoglobin isoelectric focusing (Hb IEF), haemoglobin electrophoresis (Hb ELP), and haemoglobin solubility test, among others.
  • By end use, the industry can be divided into hospitals, diagnostics laboratories, and clinics, among others. 
  • Region-wise, the global market for haemoglobinopathies can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for haemoglobinopathies is being driven by the increasing occurrence of haemoglobinopathies and the rising concern regarding health. 
  • The government initiatives to spread awareness regarding haemoglobinopathies and the developing healthcare infrastructures are further aiding the market growth. 
  • The industry is receiving a further impetus with the rapid advancements in the medical sector.  
  • The growing R&D activities are expected to further boost the market for haemoglobinopathies.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for haemoglobinopathies for the periods (2016-2020) and (2021-2026).  
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types, test types, end uses, and major regions of haemoglobinopathies.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global haemoglobinopathies market are Sanofi, Bluebird Bio, Inc., Emmaus Medical, Inc., Prolong Pharmaceuticals, LLC., and Global Blood Therapeutics, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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