Global Hemoglobinopathy Market 2023: Europe Estimated to be the Dominant Regional | Abbott Diagnostics, Bio-Rad Laboratories, Inc., Danaher Corp.

The hemoglobinopathy market refers to the industry surrounding the diagnosis and treatment of genetic disorders of hemoglobin, the protein in red blood cells that carries oxygen throughout the body. Hemoglobinopathies include a wide range of conditions such as sickle cell disease, thalassemia, and other rarer conditions.

The most common hemoglobinopathies are sickle cell disease, alpha thalassemia, and beta thalassemia. The global hemoglobinopathy market is projected to register a CAGR of 8.3% during the forecast period in terms of value and is expected to reach a market valuation of US$ 788.2 Mn by the end of 2024.

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The global hemoglobinopathy market is expected to grow significantly in the coming years, driven by several key factors. One of the major drivers of the market is the increasing prevalence of these disorders, particularly in developing countries where the majority of patients with these conditions reside.

Another key driver of the market is the increasing availability of effective treatments for these disorders. For example, the introduction of new therapies, such as hydroxyurea for the treatment of sickle cell disease, has led to significant improvements in patient outcomes. Additionally, the development of new genetic therapies, such as CRISPR-based gene editing, is expected to provide more targeted and effective treatments for these disorders in the future.

Companies

Abbott Diagnostics
Bio-Rad Laboratories, Inc.
Danaher Corp.
Mindray Medical International Ltd
Nexcelom Bioscience LLC.
Nihon Kohden Europe Ltd
PerkinElmer Inc.
Siemens Healthineers
Sysmex Europe GmbH

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Moreover, The market also benefit from the growing awareness about these disorders, and increasing government funding for research and awareness campaigns. This has led to the development of more accurate diagnostic methods and early detection of these disorders.

Additionally, the market growth is also being boosted by the increasing adoption of these treatments in the emerging economies, as the governments in these regions are focusing on expanding their healthcare infrastructure and providing access to these treatments to a larger population.

Furthermore, the market growth is also driven by the increasing healthcare expenditure and a growing number of private and public healthcare facilities.

Overall, the global hemoglobinopathy market is expected to experience strong growth in the coming years as the prevalence of these disorders increases, new treatments become available, and awareness and funding for research into these conditions continues to grow.

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Regional Analysis

The global hemoglobinopathy market has been segmented into five major regions: North America, Latin America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). In terms of value, Europe is estimated to be the dominant regional market in the global hemoglobinopathy market in 2016 owing to a robust healthcare infrastructure and high prevalence of thalassemia in Mediterranean countries like Cyprus and Greece.

The Europe hemoglobinopathy market is expected to register a CAGR of 7.9% over the forecast period. Asia Pacific and Middle East & Africa are estimated to be the fastest growing markets in terms of CAGR. The North America hemoglobinopathy market is expected to register a CAGR of 7.6% over the forecast period.

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