When a person inherits two abnormal copies of the β-globin gene (HBB), one from each parent, which produces hemoglobin “S”. This hemoglobin “S” is an abnormal form of hemoglobin causing red cells to become rigid and sickle shape. The most common type of sickle cell disease is known as sickle cell anemia. It results in an abnormality in the oxygen-carrying protein hemoglobin found in red blood cells.
The sickle cell disease treatment market growth driven by increase in prevalence of sickle cell disease, rise in pipeline products, and surge in demand for sickle cell disease drugs. In addition, expansion of R&D pipeline, ongoing medicine approvals, and strong growth potential in unexplored new markets are expected to provide numerous sickle cell disease treatment market opportunity for the market growth during the forecast period. For instance, in November 2019, FDA approved Oxbryta (voxeletor), to treat the sickle cell disease, which is expected to boost the market growth.
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Moreover, increase in initiatives taken by government of various countries for promoting access programmes and expanding distribution network for sickle cell disease drugs are some sickle cell disease treatment market trends contribute toward the growth of the market. For instance, Emmaus announced the agreement with Mc Kesson Plasma and Biologics LLC. to expand the distribution network of Endari for sickle cell disease patients.
Important Growth Factors for Sickle Cell Disease Treatment Market:-
High Severity Associated with the Disorders to Propel Market Progress
Sickle cell disease treatment refers to a series of procedures designed to treat sickle cell disease disorders. The demand for effective therapeutic procedures is expected to increase due to the growing awareness of the severity of the disease. In addition, rising medical and healthcare spending is expected to fuel the demand for sickle cell disease treatment procedures. Furthermore, increased attention to developing effective solutions for the treatment of sickle cell disease should lead to the adoption of effective treatments. These factors can fuel the growth of the sickle cell anemia treatment market.
However, the limited availability of therapeutic solutions could hamper the growth of this sector in the coming years.
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“Sickle Cell Disease Treatment Market,” The sickle cell disease treatment market size was valued at $1.1 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
When a person inherits two abnormal copies of the β-globin gene (HBB), one from each parent, which produces hemoglobin “S”. This hemoglobin “S” is an abnormal form of hemoglobin causing red cells to become rigid and sickle shape. The most common type of sickle cell disease is known as sickle cell anemia. It results in an abnormality in the oxygen-carrying protein hemoglobin found in red blood cells.
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Value Proposition of Sickle Cell Disease Treatment Market
• By drug type, the hydroxyurea segment held the largest share in the global sickle cell disease treatment industry in 2021.
• Based on type, the sickle cell segment held the largest market share in 2021 and this trend is expected to continue during the forecast period. • Based on route of administration, the oral segment dominated the market in 2021. However, the parenteral segment is expected to grow at a CAGR of 4.3% during the forecast period. • Based on the region, North America held the largest share of the global market in 2021. However, Asia-Pacific is projected to grow at the highest CAGR of 5.7% during the forecast period.
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