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Global Hemoglobinopathies Market to Reach US$ 14.8 Billion by 2027, Propelled by Rising Prevalence of Chronic Blood Disorders

Published on Sep 16, 2022

According to the latest report by IMARC Group, titled “Hemoglobinopathies Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global hemoglobinopathies market size reached a value of US$ 8.36 Billion in 2021. Hemoglobinopathies are genetic disorders that cause abnormalities in the structure and production of hemoglobin molecules and are passed from parents to children. These disorders result from differences in the structure and synthesis of hemoglobin, which include a variety of congenital blood ailments. As a result, one of the globin chains of the hemoglobin molecule develops an abnormal structure, preventing it from carrying oxygen through the body and resulting in anemia. The most common symptoms of hemoglobinopathies are pale skin, shortness of breath, cold hands or feet, fatigue, pain and swelling. This disease is associated with numerous health problems, such as blurry vision, heart problems, slowed growth, gallstones, enlargement of the spleen, and strokes. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Hemoglobinopathies Market Trends:

The global market is majorly driven by the rising prevalence of various chronic blood disorders, including sickle cell disease (SCD) and thalassemia and anemia.  This can be attributed to the growing geriatric population that is prone to developing various chronic illnesses. In addition to this, the widespread adoption of cost-effective genetic testing, usage of gene therapy and the approval of novel therapies are also creating a positive market outlook. The market is further impelled by partnerships and collaborations among major biopharmaceutical players using the latest technology platforms. Apart from this, multiple favorable initiatives, including thalassemia screening in neonates and improved reimbursement scenarios for diagnostic tests and treatments, undertaken by the governments of several countries are impacting the market positively. Some of the other factors contributing to the market include continual developments in point-of-care diagnostics, a considerable rise in medical expenditure and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 14.8 Billion by 2027, exhibiting a CAGR of 9.50% during 2022-2027.

Market Summary:

  • Based on the type, the market has been segmented into thalassemia (alpha and beta thalassemia), sickle cell disease, and others.
  • On the basis of the treatment, the market has been divided into blood transfusion, stem-cell transplantation, analgesics, antibiotics, ACE inhibitors, hydroxyurea, and others.
  • Based on the test type, the market has been categorized into red blood cell (RBC) count, genetic testing, high performance liquid chromatography (HPLC), high performance liquid chromatography (HPLC), hemoglobin electrophoresis (Hb ELP), and hemoglobin solubility test.
  • On the basis of the end user, the market has been classified into hospitals and clinics, diagnostics lab, laboratories, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Bio-Rad Laboratories Inc., bluebird bio Inc., Bristol-Myers Squibb Company, Danaher Corporation, Emmaus Life Sciences Inc., Gamida-Cell Ltd., Global Blood Therapeutics Inc., Novartis AG, PerkinElmer Inc., Pfizer Inc., Prolong Pharmaceuticals LLC, Sangamo Therapeutics Inc., and Sysmex Corporation.
     

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