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The hemoglobinopathies market was valued at USD 6.9 billion in 2023, driven by the rising incidence of thalassemia and sickle cell anemia across the 8 major markets. The market is expected to grow at a CAGR of 9.7% during the forecast period of 2024-2032, with the values likely to rise from USD 7.5 billion in 2024 to USD 15.9 billion by 2032.
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Hemoglobinopathies are a group of inherited blood disorders, affecting hemoglobin in the red blood cells. They are often caused by genetic mutations that lead to alteration of hemoglobin structure, function, or production. Sickle cell anemia and thalassemia are amongst the most common types of hemoglobinopathies. It is estimated that sickle cell anemia affects approximately 100,000 United States citizens, with a higher prevalence in Black or African American individuals (1 in every 365 individuals). Consequently, the haemoglobinopathies market demand is on the rise to combat the rising incidence of diseases.
The haemoglobinopathies market is witnessing advancements in genetic testing and screening methods that are leading to early diagnosis and better management of these disorders. Increased initiatives from the government as well as non-governmental organizations are another factor supporting the market expansion. Moreover, pharmaceutical and biotechnology companies are increasingly focusing on the development and approval of novel treatment options such as gene therapy to treat sickle cell disease and thalassemia.
Increased Focus on Early Haemoglobinopathies Diagnosis to Affect the Market Landscape Significantly
The hemoglobinopathies market share is also poised to elevate with rising emphasis on detecting the condition early. In June 2023, Florida Atlantic University released its latest research on developing a portable tool to diagnose and monitor sickle cell anemia. Based on an electrical impedance sensor, the device can analyze the rate of cell sickling as well as the concentration of sickled cells in the body. It can assist in quality treatment and mitigate the comorbidities associated with the disease. The rising innovation in diagnostic capabilities and treatment monitoring is likely to bolster the market growth.
Rising Advancements in Treatment to Meet Rising Haemoglobinopathies Market Demand
The market growth is driven by advancements in treatment and diagnostics. Innovations and growth in gene therapy activities are some of the major market trends. In December 2023, the United States FDA approved Exa-cel, the first CRISPR treatment for sickle cell disease. Lovo-cel, developed by Bluebird Bio, is another gene therapy accepted by the FDA and will be used to treat sickle cell anemia in patients. The increasing integration of novel technologies to aid impactful treatment alternatives is expected to drive market growth in the coming years.
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The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
Key Trends | Impact |
Rising Awareness via Screening Programs | To combat the rising incidence of hemoglobinopathies across the globe, many countries have started implementing new screening programs to detect any abnormalities at an early stage. |
Surge in Strategic Partnerships and Collaborations | Rising partnerships between pharmaceutical companies, healthcare providers, and research institutions are a notable market trend. The collaborations are aimed at developing effective and precise solutions for patients and are anticipated to boost the haemoglobinopathies market share. |
Preference for Personalized Medicine | Tailoring treatment plans based on the genetic profile of the patient is a significant trend in the market. Precision medicine can help in minimizing side effects while offering improved outcomes for patients. |
Growth in Investments for Research and Development Activities | To provide new diagnostic methods and treatment, there has been an increase in funding and investments by the government as well as non-governmental organizations. |
Market Breakup by Type
Market Breakup by Therapy
Market Breakup by Region
The Gene Therapy Segment is Poised to Hold Substantial Market Value
The market segmentation by therapy includes bone marrow transplant, blood transfusion, iron chelation therapy, and gene therapy, among others. The gene therapy segment is poised to attain a significant market share in the forecast period owing to its potential to cure haemoglobinopathies by directly addressing the genetic root cause. In contrast, traditional treatments like blood transfusions and iron chelation therapy can only manage symptoms which gives gene therapy a major advantage over other conventional therapies. Pharmaceutical companies and venture capitalists are heavily investing in developing gene therapies which is crucial for sustaining research and development activities necessary to bring these therapies from clinical trials to market.
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Based on region, the market report includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. The United States is expected to dominate the market share which can be attributed to the presence of major healthcare providers in the region, undergoing significant collaborations and acquisitions to devise the best treatment solutions. The presence of a favorable regulatory environment, such as the U.S. FDA ensuring accelerated approval of innovative treatments including gene therapies for haemoglobinopathies, further stimulates the market growth in the region. With high investments to improve the healthcare and research infrastructure, countries like India are also poised to experience rapid market growth in the forecast period.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, and strategic initiatives constituting recent funding and investment, partnerships, and collaborations by the leading players. The major companies in the market are as follows:
Bluebird Bio, Inc.
Headquartered in Massachusetts (United States), Bluebird Bio, Inc., is a pioneering biotechnology company that develops gene therapies for patients suffering from severe genetic disorders. It has designed a gene therapy called LYFGENIA™ for sickle cell disease.
Emmaus Medical, Inc.
California-based Emmaus Medical, Inc. is a biopharmaceutical company and has a prominent presence in the treatment domain of sickle cell disease. ENDARI (L-glutamine oral powder) is one of its leading assets to treat sickle cell disease in patients five years of age and older. The company is actively working on expanding the availability of Endari worldwide and is poised to support the haemoglobinopathies market growth.
Prolong Pharmaceuticals, LLC.
Prolong Pharmaceuticals, LLC, headquartered in New Jersey, United States, is known for developing treatments for blood-related disorders and diseases that involve severe anemias, including haemoglobinopathies. The pharmaceutical company is engaged in the clinical development of its investigational drug products aimed at treating sickle cell disease and other conditions.
Other key players in the market include Novartis AG, Pfizer Inc., Sangamo Therapeutics, Inc., CRISPR Therapeutics AG.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Therapy |
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Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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