Hemoglobinopathies Market

Hemoglobinopathies Market, segmented by Indication (Thalassemia, Sickle Cell Anemia, And Others), by Treatment (Stem Cell Therapy, Blood Transfusion, Iron Chelation Therapy, And Others), and by geography is expected to advance at a respectable CAGR forecast till 2030 owing to the increasing prevalence of various hemoglobin disorders and the increasing research & developmental activities concerning to the hemoglobinopathies across the globe.

The global hemoglobinopathies market will grow at a CAGR of 8.19% during the forecast period from 2024 to 2030 to reach USD 12.21 million by 2030. The hemoglobinopathies market is observing substantial market growth primarily due to the growing prevalence of various hemoglobin disorders such as sickle cell anemia, hemoglobin C disease, hemoglobin S-C disease, thalassemia, and others across the globe. Further, the presence of a robust number of Hemoglobinopathies in the pipeline, and the increasing focus of governments and healthcare organizations on rare diseases such as sickle cell anemia, thalassemia, and others will aid in surging the demand for Hemoglobinopathies in the upcoming years. Likewise, the increasing research & developmental activities, along with the surging drug approvals and launches, and the presence of key hemoglobinopathies companies in the market will create a demand for hemoglobinopathies in the market. Therefore, the hemoglobinopathies market is estimated to grow at a substantial CAGR during the forecast period from 2024 to 2030.

Hemoglobinopathies Market Dynamics:

According to the World Health Organization (WHO), each year over 300K babies with severe forms of diseases are born worldwide, the majority in low and middle-income countries. Also, approximately 5% of the world’s population are healthy carriers of a gene for sickle-cell disease (SCD) or thalassemia. The population percentage that carriers the gene is as high as 25% in some regions. Further, these conditions are most prevalent in tropical regions; however, population migration has spread these diseases to most countries. As per the same source, Thalassaemia is one of the most common diseases in Asia, the Mediterranean basin, and the Middle East, and Sickle-cell disease predominates in Africa.

Furthermore, the Centers for Disease Control and Prevention (CDC) in the latest data stated that sickle cell anemia affects approximately 100K Americans every year. Also, Sickle cell disease occurs among about 1 out of every 365 Black or African-American births, and occurs among about 1 out of every 16,300 Hispanic-American births.

Moreover, the hemoglobinopathies clinical trials are expected to significantly advance the drug development process. For instance, in August 2022, Vertex Pharmaceuticals started a Phase IIIb study to evaluate the efficacy and safety of a single dose of autologous CRISPR Cas9 modified CD34+ human hematopoietic stem and progenitor cells (CTX001) in subjects with transfusion-dependent ß-thalassemia or severe sickle cell disease. The trial is anticipated to be completed by February 2025. Therefore, such trials will increase the chance of accessibility of hemoglobinopathies drugs during the forecast period, which may create a rewarding chance for the key hemoglobinopathies companies to cater to the maximum market and make enormous revenue. Henceforth, the global hemoglobinopathies market will grow during the forecast period from 2024 to 2030.

Lastly, the rising investment in the development of novel therapies is further expected to provide impetus to market growth in the upcoming years. Also, major biopharmaceutical players are collaborating to develop hemoglobinopathies novel therapeutics using the latest technology platforms. For instance, Sangamo Therapeutics, Inc. and Bioverativ have collaborated to develop therapeutics for hemoglobinopathies.

Therefore, the factors stated above will drive the overall hemoglobinopathies market collectively throughout the forecast period from 2024-2030.

However, the high cost of drug development and launches, low awareness regarding hemoglobinopathies, and a stringent regulatory approval process may halt the hemoglobinopathies market growth.

The hemoglobinopathies market was moderately impacted during the period of the COVID-19 pandemic. During the initial stage of the pandemic, the hemoglobinopathies sales suffered a collapse owing to the imposition of strict lockdown rules, disruption in manufacturing, and supply. However, the government classified medicines and drugs as emergency products during the pandemic, thereby leading to an increase in their demand and sales. However, the ease of lockdown restrictions, the upturn of resources and supply chain, the administration of a vaccine to the public, and the increasing number of hemoglobin disorders treatment rates, the demand for hemoglobinopathies increases and is anticipated to increase further during the forecast period from 2024-2030.

Hemoglobinopathies Market Segment Analysis:

Hemoglobinopathies Market, segmented by Indication (Thalassemia, Sickle Cell Anemia, and Others), Treatment (Stem Cell Therapy, Blood Transfusion, Iron Chelation Therapy, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Among the hemoglobinopathies market treatment segment, the stem cell therapy is expected to have a significant revenue share in the year 2024. This was primarily owed to the efficiency offered by stem cell therapy in the treatment of hemoglobinopathies. Moreover, stem cell therapy also offers fewer side effects as compared to other treatments. Also, the expanding launches and strategic investments, and other activities by the key players will drive the market growth during the forecast period.

For instance, stem cell therapy is generally only considered in children with sickle cell disease who have severe symptoms that have not responded to other treatments, when the long-term benefits of a transplant are thought to outweigh the possible risks.

Also, stem cell therapy reduces disease burden, improves outcomes and quality of life for Sickle Cell Anemia patients, and significantly reduces health care costs over the long term.

Moreover, the presence of a robust number of stem cell therapies treating hemoglobinopathies in the pipeline will, in turn, increase the market opportunity. For instance, in February 2020, Bluebird Bio started a Phase III study evaluating gene therapy by transplantation of autologous CD34+ stem cells transduced ex vivo with the BB305 lentiviral vector in subjects with sickle cell disease. The study aims to evaluate hematopoietic stem cell (HSC) transplantation (HSCT) using BB1111 (also known as LentiGlobin BB305 Drug Product for SCD).

Therefore, owing to the above-mentioned factors, the for stem cell therapy demands upsurges, thereby the category is expected to witness considerable growth eventually contributing to the overall hemoglobinopathies market growth during the forecast period.

Europe is expected to dominate the overall Hemoglobinopathies Market:

Among all the regions, Europe dominates the global hemoglobinopathies in the year 2024 and is expected to do the same during the forecast period from 2024-2030.

This can be ascribed to the increasing hemoglobinopathies demand in the region owing to the increasing prevalence of various hemoglobin disorders in the region. Further, the presence of key hemoglobinopathies players in the region, a surging drug approvals and launches, and others are among the key factors that contribute to the growth of the hemoglobinopathies market size in Europe during the forecast period from 2024-2030.

According to the 2020 report, Overview of the Sickle Cell Disease environment in select European countries, Sickle cell disease (SCD) is a rare, inherited disorder, affecting more than 52,000 people in Europe in 2020. It is the most prevalent genetic disease in France and the United Kingdom (UK), and Sickle cell disease its prevalence is increasing in many other European countries. Further, according to figures from the European Medicines Agency (EMA), in 2019, approximately 1 in 10,000 people lived with SCD in the EU/ European Economic Area (EEA).

Furthermore, the increasing activities by the key players and the government in the region will, in turn, increase the demand for hemoglobinopathies products during the forecast period. For instance, in 2019, the European Joint Programme on Rare Diseases (EJP RD) was launched to create an ecosystem for research, care, and innovation for rare diseases, including hemoglobinopathies. The project has a total of €100 million in investment, €55 million of which is contributed by the EU. It includes projects on translational research for rare diseases (translating pre-clinical research to clinical), among others.

Moreover, the market players in the region are continuously concentrating on the development of novel drugs to tackle mental disorders indications using hemoglobinopathies, and also adopting various strategies to develop better drugs with reduced side effects. Thus, this is likely to drive the hemoglobinopathies market in Europe. For instance, in October 2021, Global Blood Therapeutics started a randomized, double-blind, placebo-controlled, multicenter Phase III study to assess the safety and efficacy of Inclacumab in participants with sickle cell disease experiencing vaso-occlusive crises. The trial is being conducted in Germany, France, Italy, and various other European and North American Locations.

Therefore, the interplay of the aforementioned factors would provide a conducive growth environment for the hemoglobinopathies European market.

Key Hemoglobinopathies Companies In The Market:

Some of the key hemoglobinopathies companies operating in the market are Global Blood Therapeutics, Inc., Sanofi, bluebird bio, Inc., Bristol-Myers Squibb Company, Emmaus Medical, Inc., Novartis, Merck KGaA, Chiesi USA, Inc., ApoPharma Inc., Alvogen, and others.

Recent Developmental Activities in the Hemoglobinopathies Market:

• In August 2022, the U.S. Food and Drug Administration approved Zynteglo (betibeglogene autotemcel), the first cell-based gene therapy for the treatment of adult and pediatric patients with beta-thalassemia who require regular red blood cell transfusions.
• In November 2019, the FDA granted approval to Reblozyl (luspatercept–aamt) for the treatment of anemia (lack of red blood cells) in adult patients with beta-thalassemia who require regular red blood cell (RBC) transfusions.
• In November 2019, the FDA approved ADAKVEO (crizanlizumab-tmca) to reduce the frequency of vasoocclusive crises (VOCs) in adults and pediatric patients aged 16 years and older with sickle cell disease.
• In November 2019, the U.S. Food and Drug Administration granted accelerated approval to Oxbryta (voxelotor) for the treatment of sickle cell disease (SCD) in adults and pediatric patients 12 years of age and older.

Key Takeaways from the Hemoglobinopathies Market Report Study

• Current hemoglobinopathies market size analysis (2024), and market forecast for 7 years (2024-2030)
• The effect of the COVID-19 pandemic on hemoglobinopathies market is significant. To capture and analyze suitable indicators, our experts are closely watching the market.
• The top key hemoglobinopathies product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key hemoglobinopathies companies dominating the global hemoglobinopathies market.
• Various opportunities available in the hemoglobinopathies competitive landscape.
• What are the top-performing hemoglobinopathies segments in 2023? How will these segments perform in 2030?
• Which are the top-performing regions and countries in the current hemoglobinopathies market scenario?
• Which are the regions and countries where companies should concentrate on the hemoglobinopathies market growth opportunities in the future?

Target Audience that can benefit from this Hemoglobinopathies Market Report Study

• Hemoglobinopathies companies
• Research organizations and consulting companies
• Hemoglobinopathies-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Hemoglobinopathies distributors and traders
• Various end users who want to know more about the hemoglobinopathies market and the hemoglobinopathies market latest developments.