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Hope for Sickle Cell: Treatment Market Growth and Trends 2024-2033

05-17-2024 12:30 PM CET | Health & Medicine

Press release from: The Business Research Company

Sickle Cell Treatment Market Growth

Sickle Cell Treatment Market Growth

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.

Market Overview -
Sickle cell disease (SCD), also known as sickle cell anemia, is a genetic disorder affecting hemoglobin, a protein in red blood cells. A mutation in the hemoglobin gene causes the production of defective hemoglobin, referred to as hemoglobin S (HbS), in people with sickle cell disease. The sickle cell disease treatment removes blockages, enhances blood flow and repairs damaged tissues.

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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.

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.

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Key Segments -
The sickle cell disease treatment market covered in this report is segmented -

1) By Treatment Modality: Blood Transfusion; Pharmacotherapy; Bone Marrow Transplant
2) By Disease Type: Sickle Cell Anemia; Hemoglobin Sickle C Disease (HbSC); Other Disease Types
3) By Route Of Administration: Oral; Parenteral
4) By End-User: Hospitals; Specialty Clinics; Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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