Key growth factors of the Sickle Cell Disease Treatment Market

Important Growth Factors for Sickle Cell Disease Treatment Market:

High Severity Associated with the Disorders to Propel Market Progress

Sickle cell disease treatment refers to a number of procedures designed to cure sickle cell disorders. The demand for effective treatment procedures is expected to increase due to the rising awareness of the disease's severity. Furthermore, the increasing healthcare and medical spending is expected to foster the demand for sickle cell disease treatment procedures. Moreover, a rising focus on the development of effective solutions for the treatment of sickle cell disease is expected to foster the adoption of effective treatments. These factors may drive the sickle cell disease treatment market growth.

However, limited availability of treatment solutions may hinder this industry's growth in the coming years.

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"Sickle Cell Disease Treatment Market," The sickle cell disease treatment market size was valued at $1.1 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

When a person inherits two abnormal copies of the β-globin gene (HBB), one from each parent, which produces hemoglobin "S". This hemoglobin "S" is an abnormal form of hemoglobin causing red cells to become rigid and sickle shape. The most common type of sickle cell disease is known as sickle cell anemia. It results in an abnormality in the oxygen-carrying protein hemoglobin found in red blood cells.

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KEY FINDINGS OF THE STUDY

• Based on drug type, the hydroxyurea segment held largest share in the global sickle cell disease treatment industry in 2021.
• On the basis of type, the sickle cell anemia segment held largest market share in 2021, and is expected to continue this trend during the forecast period.
• Based on route of administration, oral segment dominated the market in 2021. However, parenteral segment is expected to grow at a CAGR of 4.3% during the forecast period.
• On the basis of region, North America held largest share in the global market in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR of 5.7% during the forecast period.

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