Hemoglobinopathies Market Share, Demand and Analysis of Key Players 2028
Hemoglobinopathie Industry Overview
The global hemoglobinopathies market size was valued at USD 7.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2021 to 2028.
The rising prevalence of conditions such as sickle cell disease (SCD) and thalassemia, coupled with the presence of a strong product pipeline for the treatment of hemoglobinopathies, is expected to fuel the market growth. It is estimated that thalassemia affects around 4.4 per 10,000 live births globally. Moreover, around 40 million thalassemia carriers are present in India. Furthermore, according to the WHO, over 330,000 babies are born with hemoglobin disorders each year. Major factors leading to the high prevalence of hemoglobinopathies include lack of awareness, unmet needs related to the treatment of sickle cell disease and thalassemia, and lack of a permanent cure.
Increasing prevalence of hemoglobinopathies in developing and low-income countries is anticipated to boost the market growth over the forecast period. According to a report published by the American Society of Hematology, more than 95% of children born with thalassemia in the world are from low- and middle-income countries, and less than 5% of children born with thalassemia live in North America and the European region. Lack of awareness and high unmet needs related to the diagnosis and treatment are some of the major factors increasing the prevalence in low-income countries. According to the CDC, the incidence of sickle cell disease trait in the U.S. was found to be 15.5 cases per 1,000 births. In addition, 1.5% of babies born in the U.S. have sickle cell trait.
Gather more insights about the market drivers, restrains and growth of the Global Hemoglobinopathies Market
The incidence of hemoglobinopathies depends upon geography, race, ethnicity, and migration. Moreover, the incidence of hemoglobin related diseases is higher in the Mediterranean area and sub-Saharan Africa and Asia region. The migration from high prevalence regions has substantially increased the number of new cases of hemoglobinopathies in North America and the European region. For instance, according to the CDC, there are around 100,000 Americans with sickle cell disease living in the country. In the U.S., sickle cell disease occurs in one out of every 365 African-American births, whereas in Hispanic-American, the incidence of SCD is 1 out of every 16,300 births. Around 1 in 13 African-American newborns has sickle cell trait.
Rising investment in the development of novel therapies is expected to provide impetus to market growth in the coming years. Major biopharmaceutical players are collaborating to develop novel therapeutics for hemoglobinopathies using the latest technology platforms. For instance, Sangamo Therapeutics, Inc. and Bioverativ have collaborated to develop therapeutics for hemoglobinopathies. Moreover, increasing approvals from the regulatory bodies for novel therapies are expected to boost the market growth. For instance, in 2019, the FDA approved Reblozyl, Adakveo, Zynteglo, and Oxbryta for the treatment of hemoglobin disorders. Moreover, various programs undertaken by governments such as thalassemia screening in neonates and providing medicines are expected to impact the market growth positively. Increasing awareness about hemoglobin disorders may lead to an increase in the demand for prevention, diagnosis, and treatment methods.
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Market Share Insights
- December 2017: CRISPR Therapeutics AG and Vertex Pharmaceuticals Incorporated entered into a partnership to develop and commercialize novel gene-editing treatments for thalassemia using CRISPR/Cas9 technology.
Key Companies profiled:
Market players are taking up various initiatives, such as mergers & acquisitions, partnerships, collaborations, and extensive R&D, in order to gain a greater share in the market.
Some prominent players in the global hemoglobinopathies market include:
- Sangamo Therapeutics, Inc.
- Global Blood Therapeutics, Inc.
- bluebird bio, Inc.
- Emmaus Life Sciences Inc.
- Pfizer, Inc.
- Novartis AG
- Prolong Pharmaceuticals, LLC
- Bioverativ Inc.
- Gamida Cell
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