The global Sickle Cell Disease Treatment Market size was USD 1.70 Billion in 2021 and is expected to register a revenue CAGR of 18.1% over the forecast period, according to the latest report by Reports and Data. Increase in consumer awareness about sickle cell disease and new product launches are key factors driving market revenue growth.
The rise in sickle cell disease instances in nations like the U.S., Africa, and others is mostly to blame for the increased need for sickle cell disease treatments. Red blood cells (RBCs) with this genetic condition develop a sickle shape and have a shorter life span, which ultimately creates a lack of RBCs in the body. International organisations like the American Society of Hematology estimate that 70,000 to 100,000 Americans are affected by sickle cell disease. Moreover, 5% of the population has a gene abnormality linked to blood-related illnesses such sickle cell disease and thalassemia, according to the World Health Organization (WHO).
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Some Key Highlights From the Report
- On 30 October 2022, Novartis AG, which is a pharmaceutical company based in Switzerland announced to launch Adakveo (crizanlizumab) after it had received approval from European Commission (EC) for prevention of recurrent Vaso-Occlusive Crises (VOCs) in patients with sickle cell disease aged 16 years and older. Adakveo binds to P-selectin, a cell adhesion protein that is essential for multicellular interactions that can result in vaso-occlusion. Adakveo has now received regulatory approval in 36 countries, including those that are members of European Union (EU) and the U.S.
- The blood transfusion segment accounted for largest revenue share in 2021. Market revenue growth of is primarily driven due to high demand for blood transfusions in sickle cell treatment. The transfusion mainly lowers hemoglobin S red blood cells, therefore, limiting its activity of blocking blood vessels. It also increases number of normal red blood cells, thereby increasing amount of hemoglobin in body.
- The hospitals segment accounted for largest revenue share in 2021. Increasing consumer awareness regarding benefits of availing hospitals is a key factor driving market revenue growth. Hospitals aid in providing routine blood transfusions and frequent monitoring of patients with thalassemia and sickle cell anemia. In addition, it aids in monitoring iron excess, medicine toxicity, growth, development, and psychological well-being of patients. Increasing occurrence of symptoms, such as VOC in patients suffering from sickle cell disease, is another major factor driving revenue growth of this segment. In 2021, according to National Centre of Biological Information (NCBI), VOC was found to be the major cause of hospitalizations among children with sickle cell disease.
- The North America accounted for largest revenue share in 2021. Increasing investments in healthcare and launch of new products are key factors driving market revenue growth. The U.S. market accounted for largest revenue share owing to presence of market companies such as Bristol Myers Squibb, bluebird bio Inc., and others. In addition, increasing support from government to promote awareness regarding the disease driving market revenue growth.
Competitive Outlook of the Global Sickle Cell Disease (SCD) Treatment Market
The globla Sickle Cell Disease (SCD) Treatment market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Sickle Cell Disease (SCD) Treatment market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
Novartis AG, F. Hoffmann-La Roche Ltd, Bristol Myers Squibb Company, Global Blood Therapeutics Inc., Emmaus Medical, Inc., bluebird bio, Inc., Medunik USA, Sangamo Therapeutics, Intellia Therapeutics, Inc., and Addmedica.
Sickle Cell Disease (SCD) Treatment Market Segmentation:
Treatment Type Outlook (Revenue, USD Billion; 2019–2030)
- Blood Transfusion
- Bone Marrow Transplant
- Pharmacotherapy
End-Use Outlook (Revenue, USD Billion; 2019–2030)
- Hospitals
- Specialty Clinics
- Others
Geographic Segment Covered in the Report:
The Sickle Cell Disease (SCD) Treatment report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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