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Hemoglobinopathies Market Size To Reach USD 13.68 Billion By 2026 – Reports and Data

Insufficient healthcare infrastructure and low levels of disease diagnosis and treatments, rising prevalence of hemoglobin disorders such as Sickle Cell Disease, thalassemia, Hb C, and Hb E are expected to be high impact growth drivers for the market. According to the current analysis of Reports and Data, the global Hemoglobinopathies market was valued at USD 5.31 Billion…

The post Hemoglobinopathies Market Size To Reach USD 13.68 Billion By 2026 – Reports and Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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Insufficient healthcare infrastructure and low levels of disease diagnosis and treatments, rising prevalence of hemoglobin disorders such as Sickle Cell Disease, thalassemia, Hb C, and Hb E are expected to be high impact growth drivers for the market.

According to the current analysis of Reports and Data, the global Hemoglobinopathies market was valued at USD 5.31 Billion in 2018 and is expected to reach USD 13.68 Billion by year 2026, at a CAGR of 10.2% from 2019-2026.

Hemoglobinopathies is a genetic defect that results in abnormal structure of one of the globin chains of the hemoglobin molecule. Hemoglobinopathy disorders include sickle cell anemia, hemoglobin C disease, hemoglobin S-C disease, and various forms of thalassemia.

The growth of the hemoglobinopathies market is driven by the increasing prevalence of hemoglobinopathies in developed countries, high-level diseases, a variety of government support initiatives and NGO funding. Advanced diagnostic and therapeutic factors, favorable diagnostic and economical approaches such as genetic testing and developing rapid point of care diagnostic methods are other factors that drive the global hemoglobinopathy market. The hemoglobinopathies market is distributed mainly into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). According to WHO, around 300,000 to 500,000 children born each year are affected by hemoglobin disorders. North America spearheaded the market in terms of revenue in 2018 due to rising R&D investments by the key players, promising reimbursement scenario, and presence of high-quality healthcare infrastructure. There are some of the factors which are restricting the growth of Hemoglobinopathies market which include lack of awareness regarding hemoglobinopathy disorders among the population especially in underdeveloped countries and lack of high sensitivity and specific diagnostic tests.

Strategies for the effective treatment of sickle cell anemia and beta-thalassemia are based on the knowledge that these disorders result from structural and functional defects in an adult gene for which an intact fetal counterpart exists. During the previous decade, a few pharmacologic areas have been explored for their capability to decrease sickle cell disease and beta-thalassemia by expanding the union of fetal hemoglobin in adults. Progress in understanding globin quality guideline is currently being associated with launches in retrovirus-interceded quality exchange, and the once-far off objective of giving quality treatment to hemoglobinopathies is quickly moving toward reality Recently, quality treatment in clinical preliminaries have been effectively applied to hemoglobinopathies, for example, sickle cell sickness (SCD) and β-thalassemia.

Among the great discoveries that led to the design of genetic approaches to cure these disorders is the discovery of the β-globin locus control region and several associated transcription factors, which determine hemoglobin switching as well as high-level, erythroid-specific expression of genes at the ß-globin locus. In addition, expanding proof shows that lentiviral vectors are productive devices to embed enormous DNA components into nondividing hematopoietic undeveloped cells, demonstrating use in the future. On the other hand, genome altering could reestablish articulation of fetal hemoglobin or target explicit changes to reestablish articulation of the wild-type β-globin quality. The latest clinical preliminaries for β-thalassemia and SCD are demonstrating promising results: patients had the option to end transfusions or had decreased transfusion necessities. Notwithstanding, toxic myeloablation and the significant expenses associated with current ex vivo hematopoietic  treatment stages are a cause of a significant market restraint fot this technology.

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Further key findings from the report suggest

  • The Global Hemoglobinopathy market is projected to register a CAGR of 10.2% during the forecast period in terms of value.
  • The global hemoglobinopathies treatment market is concentrated towards the drivers and the market being in a growth phase, the competition among companies is intense.
  • North America leads the overall hemoglobinopathies market in terms of revenue in 2018 while Asia pacific is expected to show lucrative growth over the forecast period owing to the presence of high unmet clinical needs, and improving healthcare infrastructure.
  • The main drivers for hemoglobinopathies market are growing prevalence of hemoglobinopathies in developed nations, high disease occurrence in underdeveloped nations, various supportive government initiatives, and non-government organizational funding.
  • There are some of the drugs NiCord, ZFP Transcription Factors, ALN-TMP, Drug Targeting PRMT5 which are used for hemoglobinopathies treatment, which are expected to cumulatively boost the market growth.
  • North America leads the overall hemoglobinopathies market in terms of revenue in 2018 with market share of 39% in 2018 and this market is expected to reach USD 52.71 billion in 2026.
  • The market for red blood cells count test segment is expected to reach USD 25.05 billion by year 2026, growing at a highest CAGR of 10.5% during the forecast period.
  • Sickle cell disease is the leading product segment of the global Hemoglobinopathies market with highest market share of 52.4%.

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For the purpose of this report, Reports and Data has segmented the Hemoglobinopathies market on the basis of type, Therapy Type, Test type, and region:

Type (Revenue, USD Million; 2016–2026)

  • Thalassemia
    • Alpha Thalassemia
    • Beta Thalassemia
  • Sickle Cell Disease
  • Other Hb Variants Diseases

Therapy Type (Revenue, USD Million; 2016–2026)

  • Blood transfusion
  • Iron chelation therapy
  • Bone marrow transplant
  • Others

Test Type (Revenue, USD Million; 2016–2026)

  • Red blood cell (RBC) count test
  • Genetic testing
  • Liquid chromatography (HPLC) test
  • Hemoglobin isoelectric (Hb IEF) focusing
  • Hemoglobin electrophoresis (Hb ELP) test
  • Hemoglobin solubility test.

Regional Outlook (Revenue in USD Million; 2016–2026)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
  • Rest of MEA

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