Americas to Command Largest Share in Hemoglobinopathies Market
The global hemoglobinopathies market size is anticipated to grow at a 9.80% CAGR between 2020-2030, states the latest Market Research Future (MRFR) report. Hemoglobinopathy, simply put, is a blood disorder that is inherited in which a person has a form of hemoglobin that is abnormal, or there is a decreased hemoglobin production (thalassemia). This is basically a genetic defect that leads to the abnormal structure of a globin chain of the hemoglobin molecule. Hb E, Hb C, thalassemia, and sickle cell anemia are the different forms of hemoglobin disorders.
Numerous factors are pushing the growth of the global hemoglobinopathies market. Such factors, according to the new Market Research Future report, include increasing prevalence of blood cancer cases, favorable reimbursement scenario both for diagnostic tests as well as treatment, and innovative approaches such as genetic testing. Additional factors pushing the growth of the hemoglobinopathies market include increasing company and government initiatives to spread awareness about hemoglobin variant diseases, and rising incidence of hemoglobin disorders such as Hb E, Hb C, thalassemia, and sickle cell anemia.
On the contrary, accessibility of diagnostic alternatives of hemoglobinopathies, lack of awareness about diagnoses, and lack of treatment are factors that may hamper the hemoglobinopathies market growth during the forecast period.
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The Market Research Future report offers a complete segmental analysis of the global hemoglobinopathies market based on test types, treatment, and type.
By type, the global hemoglobinopathies market is segmented into sickle cell disease, thalassemia, and other Hb variant diseases. The thalassemia segment is again segmented into beta thalassemia and alpha thalassemia. Of these, the sickle cell disease segment will have the largest share in the market during the forecast period. The rising incidence of sickle cell disease coupled with the presence of top product pipelines is adding to the growth of the segment.
By treatment, the global hemoglobinopathies market is segmented into hydroxyurea, ACE inhibitors, antibiotics, analgesics, blood transfusions, and stem-cell transplantation. Of these, the blood transfusion segment will have the maximum share in the market during the forecast period for the rising adoption of the treatment option and a significant success rate.
By end user, the global hemoglobinopathies market is segmented into diagnostics laboratories, hospitals and clinics, and others.
By region, the global hemoglobinopathies market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will command the largest share in the market during the forecast period as a major part of the populace suffer from sickle cell disease, a common inherited blood disorder. Moreover, the presence of superior-quality healthcare infrastructure, better reimbursement scenario, and increasing investments made by the key players in the research and development activities.
The global hemoglobinopathies market in Europe will hold the second-largest share in the market over the forecast period and will be succeeded by the APAC region that is predicted to grow at the fastest pace during the forecast period. Numerous factors are propelling the growth of hemoglobinopathies market in the region such as increasing incidence of such disorders in the region including Hb E, Hb C, thalassemia, and sickle cell anemia, increasing patient awareness level, and availability of low-cost, indigenously-manufactured diagnostic kits to treat sickle cell disease and thalassemia.
The global hemoglobinopathies market in the MEA will have a small share in the market during the forecast period for low economic development, particularly in the African region.
Notable players profiled in the global hemoglobinopathies market report include Invenux, HemaQuest Pharmaceuticals, Mast Therapeutic, Acceleron Pharma, Gamida Cell, Alnylam Pharmaceuticals, Celgene Corporation, Prolong Pharmaceuticals, Emmaus Life Sciences Inc., Bluebird Bio Inc., Global Blood Therapeutics, Global Blood Therapeutics, Sangamo Therapeutics Inc., and Sanofi. Key players have incorporated specific strategies to cater to the growing needs of the customers and strengthen their position in the hemoglobinopathies market, such as acquisitions, partnerships, collaborations, mergers, and others.
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