The latest report by IMARC Group, titled “Sickle Cell Disease Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global sickle cell disease treatment market size reached US$ 2.6 Billion in 2021. Sickle cell disease (SCD) is a genetic and inherited disorder that converts red blood cells (RBC) from round flexible discs into stiff and sticky sickled cells. It affects hemoglobin, a protein that carries oxygen in the body. It also leads to several complications, such as acute chest syndrome, anemia, and vaso-occlusive crisis (VOC). Some commonly utilized SCD treatment options involve replacing affected bone marrow with a healthy substitute received from a donor, medications, and blood transfusions to reduce specific symptoms and prolong the life of patients.
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 Sickle Cell Disease Treatment Market Trends:
The market is primarily driven by the increasing prevalence of SCD across the globe and the escalating demand for new medications that can treat the condition effectively. In addition, the health regulatory authorities of numerous countries are focusing on fast-track approval of new treatment methods, which represents another major growth-inducing factor. For instance, the United States Food and Drug Administration (USFDA) approved a new medicine in 2019 to reduce the pain experienced by patients with SCD. Moreover, the increasing research and development (R&D) activities are also encouraging researchers and pharmaceutical companies to develop novel treatments. For instance, researchers at the National Heart, Lung, and Blood Institute (NHLBI) in the US are working on genetic therapies that can restore a missing gene or add a new DNA strain to improve the functioning of cells. Furthermore, the rising disposable incomes and the growing awareness among individuals about the available healthcare services are also creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 6.4 Billion by 2027, exhibiting a CAGR of 16.0% during the forecast (2022-2027).
- Based on the treatment type, the market has been classified into blood transfusion, pharmacotherapy, and bone marrow transplant.
- On the basis of the end user, the market has been segmented into hospitals, diagnostic centers, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being AstraZeneca Plc, Baxter International Inc., bluebird bio Inc., Bristol-Myers Squibb Company, CRISPR Therapeutics, Emmaus Medical Inc., Global Blood Therapeutics Inc., GlycoMimetics Inc., Novartis AG, Pfizer Inc., and Sangamo Therapeutics.
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