Beta-Thalassemia (B-Thal) Market Analysis Key Trends, Statistics, Growth Opportunities, Key Players by 2030

The global beta-thalassemia (B-thal) market size was valued at USD 411 million in 2021 and is projected to reach around USD 730 million in 2030 exhibiting a CAGR of 8.0% in the forecasted period. The rise in the prevalence of thalassemia, increase in the research and development activities and launch of effective therapies are projected to boost the market. However, high cost related with the treatment and lack of substructure in low-income nations is hampering the growth of the market in the forecasted period.

Over the next few years, the market is anticipated to grow as more people globally will have beta-thalassemia. For instance, Bristol-Myers Squibb Company stated a report in November 2018 saying that about 1.5% of the world's people, or between 80 and 90 million individuals, carry the beta-thalassemia gene. Even though beta-thalassemia is not very common in the United States, it is assumed that 1.25 million people, or 0.4% of the population, are carriers. Also, the same source says that roughly 2,000 people in the United States have thalassemia, and 1,000 have -thalassemia major.

Furthermore, innovation in the medical technology, intensifying initiatives by public and private organisations to create awareness and rising government funding are the features that will develop the beta-thalassemia market. Other aspects such as upsurge in the demand for efficient therapies and growing geriatric population will certainly impact the beta-thalassemia market's growth rate. Moreover, great disposable income and altering lifestyle will end in the expansion of beta-thalassemia market. Also, development in the acceptance rate of early genetic testing as well as inherited counselling will enhance the growth of beta-thalassemia market.

The outbreak of COVID-19 has disturbed workflows in the health care sector around the world. The disease has enforced a number of businesses to shut their doors provisionally, including several sub-domains of animal health care. The beta- thalassemia market experienced a deterioration in 2021 due to global economic collapse led by COVID-19. Moreover, the COVID-19 outbreak disturbed the supply chain of thalassemia drugs through various end-user businesses like hospitals and pharmacies. However, the market is projected to witness repossession in 2021, and show steady beta-thalassemia market growth in the coming future. This is accredited to the rise in acceptance of numerous screening techniques during pregnancy for genetic anomalies and proper counselling about beta-thalassemia to drive the market growth.

Treatment Insights
Based on the treatment, the beta-thalassemia market is categorized into iron chelating drugs, erythyroid maturation agents, stem cell therapy, and others. The iron chelating drugs segment to account for the biggest market size during the forecasted period. At this time, the standard way to treat thalassemia is to treat the symptoms instead of trying to find a cure. Medicines for the disorder frequently treat iron overload caused by blood transfusions, and fetal hemoglobin-raising medications, vitamin supplements, and indicaxanthin, an antioxidant that stops hemoglobin from breaking down. If drugs that are presently in phase II or phase III trials are accepted by the FDA, it is anticipated that the market for iron-chelating agents will offer numerous opportunities for business growth.

End User Insights
Hospitals held the major share in the end user segment of beta-thalassemia (B-thal) market in 2021. For patients detected with beta-thalassemia (B-thal), the hospitals offer renowned specialists in skin cancer and dermatologic surgery which built a personalized treatment plan for patients which can comprise a number of choices. Hospitals are forecasted to grow at the fastest rate with the highest CAGR during the forecasted period, due to their rising financial capability and more substantial players investing in hospitals for therapies.

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Region Insights
North America dominates the beta-thalassemia market owing to the existence of major key players, high disposable revenue and well-developed healthcare structure in this region. In addition, rise in technological innovations for thalassemia gene therapy and increase in awareness regarding thalassemia further drive the market growth in this region. Existence of several major players, such as Bluebirdbio, Chiesi Farmaceutici, Bristol Myers Squibb, and development in manufacturing technology for gene therapies in the area boosts the growth of the market. Furthermore, several private organizations establish educating camps across the world marked the growth of this market.

Additionally, associations like DKMS-blood disorders help in finding proper donor or therapy for thalassemia with online portal across the world. Likewise, presence of well-established healthcare infrastructure, and increase in adoption rate of large volume stem cell therapy are anticipated to drive the market growth. Similarly, partnership as key strategy adopted by the players in this region more boost the market. For instance, Hemanext and TIF are dedicated to helping uplift the standard of care for thalassaemia patients globally through education and research and development creativities that will lead to significant clinical advances.
However, Asia-Pacific is anticipated to grow throughout the forecasted period owing to the growing patient pool, increasing investment in the healthcare sector and rising government support. Moreover, growth in investments in manufacturing of high-quality thalassemia drugs and gene therapy.

Key Companies Insights
The market for beta-thalassemia (B-thal) is moderately competitive. With the rising applications of Beta-thalassemia (B-thal), new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the beta-thalassemia (B-thal) market, ultimately boosting the market growth.

Some of the key companies working in the global beta-thalassemia (B-thal) market include:
• Apotex
• Alvogen Inc.
• Bluebirdbio
• Bristol Myers Squibb
• Chiesi Farmaceutici
• Cipla Ltd
• Fresenius SE & Co. KGaA (Fresenius Kabi)
• Novartis AG
• Pfizer Inc.
• Sun Pharmaceuticals
• Other players

Some of the Recent Developments:
• In October 2019, European Medicines Agency accepts bluebirdbio's refined commercial manufacturing specifications for ZYNTEGLO.
• In November 2019, the FDA declared the approval of Celgene and Acceleron's Reblozyl, for the treatment of anemia in adult patients with beta thalassemia who need regular red blood cell (RBC) transfusions.

Segments
By Type
• Beta Thalassemia Minor
• Beta Thalassemia Intermedia
• Beta Thalassemia Major

By Treatment
• Iron Chelating Drugs
• Erythroid Maturation Agents
• Stem Cell Therapy
• Blood Transfusion
• Others

By Diagnosis
• Complete Blood Count (CBC)
• Hemoglobin Electrophoresis with Hemoglobin F and A2 Quantitation
• Others

By Route of Administration
• Oral
• Intravenous
• Others

By End User
• Hospitals
• Clinics
• Others

By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

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