The global sickle cell disease treatment market size was valued at USD 2.6 billion in 2022 and is poised to grow at a significant CAGR of 14.09% during the forecast period 2022-28. Sickle cell disease is a set of diseases that impair haemoglobin, the molecule that transports oxygen throughout the body. A deformed red blood cell with the shape of a sickle or crescent is found in people with this condition. Symptoms of sickle cell disease commonly appear in early childhood and continue until adolescence. Red blood cells break down prematurely as they alter their shape, which can cause anemia. The goal of sickle cell anemia treatment is to alleviate discomfort, alleviate symptoms, and prevent complications. Some adolescents and teenagers are treated with medications and blood transfusions.
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The sickle cell diseases treatment market segmentation:
1) By Disease Type: Sickle Beta Thalassemia, Sickle Haemoglobin C Disease, Sickle Cell Anaemia, Others
2) By Therapy: Bone Marrow Transplant, Blood Transfusion, Gene Therapy.
3) By Drug Class: Antibiotics, Analgesics, Antimetabolite (Hydroxyurea), Others.
4) by End-user: Hospitals, Retail Pharmacies, Others
One of the major factors affecting the desire for new pharmaceuticals that can effectively treat SCD is the enormous increase in the number of people who suffer from it. As a result, several countries' health regulatory agencies are focusing on expediting the licensing of innovative therapeutic procedures. In 2019, the United States Food and Drug Administration (USFDA) approved a new drug to help adults and children with SCD manage their discomfort. Furthermore, the government is financing research and development (R&D) operations in order to encourage researchers and pharmaceutical businesses to create new medicines. Researchers at the National Heart, Lung, and Blood Institute (NHLBI) in the United States, for example, are developing genetic therapies to restore a lost gene or add a new DNA strain to improve cell function. Market development is expected to be aided by these advancements, as well as rising disposable incomes and increased awareness of accessible healthcare services among the general public. Furthermore, emerging markets such as Nigeria, Ghana, South Africa, Brazil, Mexico, Saudi Arabia, and India are likely to have profitable growth over the projection period as a result of favorable government policies, greater investment, and enhanced healthcare infrastructure.
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MEA's healthcare business is undergoing major transformations. The absence of adequate healthcare infrastructure in Middle Eastern and African countries may stifle the market for sickle cell disease treatments. Inadequate development and implementation of clinical practice guidelines, as well as a scarcity of skilled personnel in underdeveloped nations, may stymie market expansion. Only hydroxyurea and L-glutamine are FDA-approved medicines for sickle cell anemia in North America. The market's expansion is projected to be hampered by the FDA's strict approval process for sickle cell disease drugs.
The sickle cell diseases treatment market key players are Biogen (U.S.) Gamida Cell (Israel) Genetix Pharmaceuticals Inc. (U.S.) Sangamo Biosciences (U.S.) Alnylam Pharmaceuticals, Inc. (U.S.) Acceleron Pharma (U.S.) Global Blood Therapeutics Inc. (U.S.) Emmaus Medical, Inc. (U.S.) Novartis AG (Switzerland) Bristol-Myers Squibb Company (U.S.)
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