Insufficient healthcare infrastructure and low levels of disease diagnosis and treatments, rising prevalence of hemoglobin disorders such as Sickle Cell Disease, thalassemia, Hb C, and Hb E are expected to be high impact growth drivers for the market.

According to the current analysis of Reports and Data, the global Hemoglobinopathies market was valued at USD 5.84 Billionin 2019 and is expected to reach USD 15.05 Billion by year 2027, at a CAGR of 10.2% from 2020-2027.

Hemoglobinopathies is a genetic defect that results in abnormal structure of one of the globin chains of the hemoglobin molecule. Hemoglobinopathy disorders include sickle cell anemia, hemoglobin C disease, hemoglobin S-C disease, and various forms of thalassemia.

The growth of the hemoglobinopathies market is driven by the increasing prevalence of hemoglobinopathies in developed countries, high-level diseases, a variety of government support initiatives and NGO funding. Advanced diagnostic and therapeutic factors, favorable diagnostic and economical approaches such as genetic testing and developing rapid point of care diagnostic methods are other factors that drive the global hemoglobinopathy market. The hemoglobinopathies market is distributed mainly into North America, Europe, Asia Pacific, Latin America, and Middle East Africa (MEA). According to WHO, around 300,000 to 500,000 children born each year are affected by hemoglobin disorders. North America spearheaded the market in terms of revenue in 2018 due to rising RD investments by the key players, promising reimbursement scenario, and presence of high-quality healthcare infrastructure. There are some of the factors which are restricting the growth of Hemoglobinopathies market which include lack of awareness regarding hemoglobinopathy disorders among the population especially in underdeveloped countries and lack of high sensitivity and specific diagnostic tests.

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Further key findings from the report suggest

• The Global Hemoglobinopathy market is projected to register a CAGR of 10.2% during the forecast period in terms of value.
• The global hemoglobinopathies treatment market is concentrated towards the drivers and the market being in a growth phase, the competition among companies is intense.
• North America leads the overall hemoglobinopathies market in terms of revenue in 2018 while Asia pacific is expected to show lucrative growth over the forecast period owing to the presence of high unmet clinical needs, and improving healthcare infrastructure.
• The main drivers for hemoglobinopathies market are growing prevalence of hemoglobinopathies in developed nations, high disease occurrence in underdeveloped nations, various supportive government initiatives, and non-government organizational funding.
• There are some of the drugs NiCord, ZFP Transcription Factors, ALN-TMP, Drug Targeting PRMT5 which are used for hemoglobinopathies treatment, which are expected to cumulatively boost the market growth.
• North America leads the overall hemoglobinopathies market in terms of revenue in 2018 with market share of 39% in 2018 and this market is expected to reach USD 52.71 billion in 2026.
• The market for red blood cells count test segment is expected to reach USD 25.05 billion by year 2026, growing at a highest CAGR of 10.5% during the forecast period.
• Sickle cell disease is the leading product segment of the global Hemoglobinopathies market with highest market share of 52.4%.

The global Hemoglobinopathies market is extremely competitive and comprise various global and regional players. These market players are various strategies such as mergers and acquisitions, collaborations, joint ventures, collaborations, partnerships and research and development investments to strengthen their market position and expand their product base.

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For the purpose of this report, Reports and Data has segmented the global Hemoglobinopathies market on the basis of type, application and region:

Hemoglobinopathies Market segmentation by Types:

Type (Revenue, USD Million; 2017-2027)

• Thalassemia
• Alpha Thalassemia
• Beta Thalassemia
• Sickle Cell Disease
• Other Hb Variants Diseases

Therapy Type (Revenue, USD Million; 2017-2027)

• Blood transfusion
• Iron chelation therapy
• Bone marrow transplant
• Others

Test Type (Revenue, USD Million; 2017-2027)

• Red blood cell (RBC) count test
• Genetic testing
• Liquid chromatography (HPLC) test
• Hemoglobin isoelectric (Hb IEF) focusing
• Hemoglobin electrophoresis (Hb ELP) test
• Hemoglobin solubility test.

 Regional Outlook of Hemoglobinopathies Market:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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