Press release
Sickle Cell Disease Treatment Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Sun Pharmaceutical Industries Ltd., Pfizer Inc., Johnson & Johnson Private Limited, Merck & Co Inc
Sickle Cell Disease Treatment Market Size
The Business Research Company offers in-depth market insights through Sickle Cell Disease Treatment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The sickle cell disease treatment market size has grown rapidly in recent years. It will grow from $2.46 billion in 2023 to $2.95 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to disease understanding, blood transfusions, pain management, hydroxyurea therapy.
The sickle cell disease treatment market size is expected to see rapid growth in the next few years. It will grow to $5.75 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to gene editing and gene therapy, new drug development, telemedicine and remote monitoring, global health initiatives. Major trends in the forecast period include curative therapies, pain management alternatives, global collaborations, patient advocacy and engagement.
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Market Segmentation:
The main types of treatment modalities for sickle cell disease treatment are blood transfusion, pharmacotherapy and bone marrow transplant. The transfer of blood or blood products from a donor to a recipient is known as a blood transfusion. The various disease types are sickle cell anemia, hemoglobin sickle C disease (HBsC) and others with various routes of administration such as oral and parenteral. The end users are hospitals, specialty clinics and others.
Major Driver - Rising Demand For Blood Transfusions Fuels Growth In The Sickle Cell Disease Treatment Market
The increasing demand for blood transfusions is expected to propel the growth of the sickle cell disease treatment market going forward. A blood transfusion is a medical procedure in which blood or blood products are given from one person (the donor) to another (the receiver). Blood transfusions are a crucial part of treatment for sickle cell disease (SCD) patients because they improve blood's ability to carry oxygen and lessen the difficulties associated with vaso-occlusion. For instance, in December 2022, according to gov.UK, a UK-based public sector information platform, in 2021, the number of blood donations increased, with 1.7 million donations made around the UK. Further, in January 2022, according to Mid-Atlantic Long-Term Care, a US-based provider of specialized 24-hour triage on-call service, in the US, around 29,000 units of red blood cells, 5,000 units of platelets and 6.500 units of plasma are needed every day. Therefore, the increasing demand for blood transfusions is driving the growth of the sickle cell disease treatment market.
Competitive Landscape:
Major players in the sickle cell disease treatment market are Sun Pharmaceutical Industries Ltd., Pfizer Inc., Johnson & Johnson Private Limited, Merck & Co Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Baxter International Inc., Teva Pharmaceutical Industries Ltd., Vertex Pharmaceuticals Incorporated, Alnylam Pharmaceuticals Inc., Ionis Pharmaceuticals Inc., Silver Lake Research Corporation0.45, Global Blood Therapeutics Inc., Acceleron Pharma Inc., Sangamo Therapeutics Inc., Medunik USA Inc., Zydus Cadila Healthcare Ltd., Graphite Bio Inc., Addmedica, Emmaus Medical Inc., Bluebird bio Inc., CRISPR Therapeutics AG, GlycoMimetics Inc., Arena Pharmaceuticals Inc., Mast Therapeutics Inc.
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Top Trend - Innovative Product Approvals Drive Advancements In Sickle Cell Disease Treatment Market
Major companies operating in the sickle cell disease treatment market are focusing on adopting new product approvals to sustain their position in the market. Drug approval for sickle cell disease treatment is to provide effective treatment options for patients with this lifelong condition. For instance, in December 2021, Global Therapeutics Inc., a US-based biopharmaceutical company, announced the U.S. FDA granted rapid approval for Oxbryta (voxelotor) tablets. These tablets are used to treat sickle cell disease (SCD) in children between the ages of 4 and 11 years. For kids with SCD, Oxbryta is the only FDA-approved medication that specifically prevents sickle hemoglobin polymerization, the underlying cause of sickling and red blood cell destruction in SCD. This is a first-in-class drug that works by increasing the production of fetal hemoglobin (HbF) and it does this by binding to and activating the TNSALP enzyme. This allows the enzyme to break down pyrophosphate, a substance that can interfere with the production of HbF. Oxbryta is administered as a subcutaneous injection once daily.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sickle Cell Disease Treatment Market Characteristics
3. Sickle Cell Disease Treatment Market Trends And Strategies
4. Sickle Cell Disease Treatment Market - Macro Economic Scenario
5. Sickle Cell Disease Treatment Market Size And Growth
…..
27. Sickle Cell Disease Treatment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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