Sickle Cell Anemia Therapeutics Market – Global Industry Insights 2024
According to Center for Disease Control and Prevention, as of 2016, around 100,000 people in the U.S. are affected by sickle cell diseases or SCDs. Sickle cell diseases are very common among black or African Americans. Around 1 in 13 babies belonging to the race are born with sickle cell diseases. Growing prevalence of the disease will give rise to an increased demand for sickle cell disease prevention and cure, thereby augmenting the growth of the overall sickle cell anemia therapeutics market.
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Sickle Cell Anemia Therapeutics Market
On the basis of type of medication, the global market is classified into:
On the basis of end user, the global market is classified into:
The National Center for Biotechnology Information says that sickle cell anemia is one of the most common hereditary hematological diseases among humans. Annually, around 250,000 children are born with the disease and it is among the most occurring epidemiological genetic diseases worldwide. Governments around the world, especially in Africa are taking initiatives to prevent and cure the disease as a result of which, huge investments on this field are expected in the coming years. This in turn will encourage the manufacturers around the world to manufacture in large quantities to meet the unmet demand thereby propelling the growth of the sickle cell anemia therapeutics market.
Increasing occurrence of the disease especially in the Africa region will drive the sickle cell anemia therapeutics market
According to the World Health Organization, around 5% of the population around the globe carries the gene for the sickle cell disease. This percentage is as high as 25% in some of the regions around the world. According to the same report, WHO has estimated that the occurrence of sickle cell disease is highest in the African region. To meet this crisis of high prevalence of the disease, WHO’s governing bodies has taken initiatives to address the same. Moreover, according to PLOS Medicine, the occurrence of sickle cell anemia is likely to rise by around 30% by 2050, especially in the sub-Saharan Africa. This rise in demand will eventually push the global sickle cell anemia therapeutics market into a positive growth trajectory over the course of the forecast period (2016-2024).
There is a growing need of early detection and prevention of curable diseases especially among the adults. This is going to be a key opportunity in the market as the percentage of adult population is increasing on a daily basis owing to the rise in life expectancy among the global population. Additionally, the demand for safe and efficacious treatments is gaining prevalence in the market. This factor coupled with unmet medical needs among the patients will fuel the growth of the global sickle cell anemia therapeutics industry.
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Manufacturers around the world are competing on the availability of technologically advanced drugs for the treatment of sickle cell anemia. Key players operating in the global sickle cell anemia therapeutics market are Bristol-Myers Squibb, GlycoMimetics, Pfizer,Anthera Pharmaceuticals Inc., GlycoMimetics, Inc., Eli Lilly, and Mast Therapeutics.Some of the other manufacturers are Daiichi Sankyo, Novartis Pharmaceuticals, Bluebird Bio, HemaQuest Pharmaceuticals Inc., Emmaus Medical, HemaQuest Pharmaceuticals, Baxter, and Merck Sharp & Dohme.
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