Global hemoglobinopathies market is anticipated to grow at a CAGR of 7.9% during the forecast period (2024-2031). A major factor supporting the growth of the market is the rising approvals from the regulatory bodies for novel therapies are the opportunity factor for market growth. Further, the different programs undertaken by governments, like thalassemia screening in neonates & providing medicines, are expected to propel the market growth. Also, the rising prevalence of hemoglobin disorders such as Sickle Cell Disease, Hb C, thalassemia, and Hb E is the opportunity factor for market growth. Moreover, the development of the low-cost diagnostic kit for hemoglobinopathy, and the approval for newer biopharmaceutical products & continuous R&D, are expected to drive market growth over the forecast period. The growing investment in developing novel therapies and the rising approvals from the regulatory bodies for novel therapies are the opportunity factors for market growth. Further, the different programs undertaken by governments, like thalassemia screening in neonates & providing medicines, are expected to propel the market growth.
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An increase in investment and funding for the development of novel therapies to treat hemoglobinopathies will further boost the market growth over the forecast period. For instance, in May 2023, US senators introduced the Sickle Cell Care Expansion Act, legislation to offer funding for services to advance the quality of life for the growing number of patients living with sickle cell and support the medical staff that treats sickle cell disease. Furthermore, private funding such as the Bronx Blood Research Fund (BBRF) provides a platform for research and management of thalassemia and other hemoglobinopathies.
Furthermore, advancements in therapy for hemoglobinopathies, including SCD and thalassemia, have shown promising trends in recent years. The development and utilization of gene therapy approaches is one of the prevalent trends in the market. Gene therapy aims to correct the genetic mutations responsible for these conditions by introducing functional genes into affected cells. Several successful clinical trials have demonstrated significant improvements in disease symptoms and reduced transfusion dependence in patients. Additionally, the emergence of gene editing techniques, such as CRISPR-Cas9, holds great potential for precisely modifying faulty genes in a patient’s cells. This innovative approach has shown promising results in preclinical studies and may offer a curative option for hemoglobinopathies soon. Furthermore, advancements in supportive care, including transfusion protocols, iron chelation therapy, and improved stem cell transplantation techniques, continue to contribute to enhanced outcomes for patients with hemoglobinopathies.
Global Hemoglobinopathies Market Report Segment
By Type
- Thalassemia
- Sickle Cell Disease
- Others (Hemoglobin (Hb) Variants)
By Therapy
- Monoclonal Antibody Medication
- ACE inhibitors
- Hydroxyurea
- Others (Blood Transfusion, Iron Chelation Therapy, and Bone Marrow Transplant)
By Distribution Channel
- Hospital Pharmacy
- Online Providers
- Drug Stores and Retail Pharmacy
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Hemoglobinopathies Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Abbott Laboratories
- Alnylam Pharmaceuticals, Inc.
- BIOGEN Inc.
- Bio-Rad Laboratories Inc.
- Bioverativ Inc.
- Bluebird Bio Inc.
- Canthera Discovery Ltd.
- Celgene Corporation
- Danaher Corporation
- Emmaus Medical, Inc.
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