Global Sickle Cell Disease Treatment Market to grow with a CAGR of 15.72% through 2028.
Increased awareness and advocacy and rising approval of
novel therapeutic drugs are driving Global Sickle Cell Disease Treatment Market
in the
forecast period 2024-2028.
According to TechSci Research
report, “Sickle Cell Disease
Treatment Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028”. Global Sickle Cell Disease (SCD) Market stood at
USD 976.78 Million in 2022 and is anticipated to project robust growth in the
forecast period with a CAGR of 15.72% through 2028. Pharmaceutical
companies, research institutions, and governmental organizations are investing
significantly in Sickle Cell Disease research and development. This surge in
funding is leading to the discovery of novel therapeutic approaches,
biomarkers, and diagnostic tools, expanding the treatment landscape and
attracting investments in the market. Growing awareness about
sickle cell disease, facilitated by patient advocacy groups, healthcare
organizations, and educational initiatives, has led to increased diagnosis
rates and demand for effective treatments.
This heightened awareness has
garnered support from governments and policymakers, driving the allocation of
resources to improve Sickle Cell Disease treatment infrastructure. Collaborations between pharmaceutical companies,
research institutions, and regulatory bodies are accelerating the pace of drug
development and approval. These partnerships streamline clinical trial
processes, enhance data sharing, and facilitate faster market entry for
promising treatments, ultimately benefiting patients. In regions with high Sickle
Cell Disease prevalence, governments and international organizations are
launching comprehensive health initiatives to improve disease management and
provide access to affordable treatments. These initiatives drive market growth
by expanding the patient pool and creating opportunities for pharmaceutical
companies to penetrate emerging markets. Governments across the
globe are offering incentives, such as tax breaks and extended market
exclusivity, to encourage pharmaceutical companies to develop treatments for
rare diseases like Sickle Cell Disease. These incentives drive investment in
research and development of Sickle Cell Disease therapies.
One of the primary
challenges in the Sickle Cell Disease treatment market is the limited
availability of curative treatments. While there are therapies that can
alleviate symptoms and complications, there is no universally applicable cure
for Sickle Cell Disease. This scarcity of curative options not only affects
patient outcomes but also dampens pharmaceutical companies' interest in
investing resources into research and development for Sickle Cell Disease
treatments, which may hamper the growth of the market in the projected period.
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Global Sickle
Cell Disease Treatment is segmented based on Treatment and End-Use.
Based on Treatment, the market is divided into Blood Transfusion, Pharmacotherapy, Bone Marrow
Transplant. The Blood
Transfusion segment
is expected to witness a rise over the forecast period. This is attributed to
the fact that Hemoglobin within transfused red blood cells has a normal
structure, allowing for effective oxygen binding and transport. This helps
counteract the chronic oxygen shortage experienced by individuals with Sickle
Cell Disease, enhancing tissue oxygenation and overall well-being. Further, chronic
organ damage is a common consequence of Sickle Cell Disease. Blood transfusions
help reduce the strain on vital organs, such as the heart and kidneys, by
improving blood circulation and oxygen supply.
Based on End-Use, the market is divided into Hospitals, Specialty Clinics and Others. The Hospitals segment
is expected to witness a rise over the forecast period. This is attributed to
the fact that effective Sickle Cell Disease treatment often requires a
multidisciplinary approach involving various specialists, including
hematologists, pain management experts, pulmonologists, and more. Hospitals are
better positioned to offer a collaborative environment where different specialists
can work together to provide comprehensive care. In addition, hospitals often
have specialized facilities, such as blood banks, infusion centers, and pain
management units, which are essential for providing comprehensive Sickle Cell
Disease treatment.
Major
companies operating in Global Sickle Cell Disease Treatment market are:
- Novartis AG
- Pfizer Inc.
- Bluebird Bio, Inc
- GlycoMimetics
- Emmaus Medical, Inc
- Bristol-Myers Squibb Company
- CRISPR Therapeutics
- Graphite Bio, Inc.
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" North America is
dominating in Sickle Cell Disease Treatment Market. North America boasts advanced
healthcare systems, including top-notch medical facilities, specialized
clinics, and access to cutting-edge medical technologies. These factors can
contribute to the region's ability to diagnose and treat Sickle Cell Disease
effectively. Many pharmaceutical and biotechnology companies in North
America actively engage in clinical trials and innovative research in the field
of Sickle Cell Disease treatment. This could lead to the development of new and
improved therapies that attract attention and investment. North American
healthcare institutions often collaborate with academic research centers,
government agencies, and industry partners to accelerate the development and
adoption of new treatments for Sickle Cell Disease. and is creating favorable
conditions to boost the global demand for Sickle Cell Disease Treatment till
2028.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Sickle Cell Disease Treatment Market- Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Treatment (Blood
Transfusion, Pharmacotherapy, Bone Marrow Transplant), By End-Use (Hospitals,
Specialty Clinics, Others), By Region, By Competition., has evaluated the future growth
potential of global Sickle Cell Disease Treatment and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Sickle Cell Disease Treatment market.”
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