Global Rare Haematology Market - 2023-2030

Global Rare Haematology Market - 2023-2030

Market Overview

The global rare haematology market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

A small number of individuals have rare blood diseases. They can impact platelets, red blood cells, or white blood cells, which makes it challenging to transfer oxygen and fight infections. A few conditions, such hemophagocytic lymphohistiocytosis, can be fatal. Cancerous and non-cancerous blood diseases both exist. The most prevalent non-cancerous blood condition is anemia.

Market Dynamics

The major factors driving the global rare haematology market are the rising incidence of certain blood diseases. More clinical trials are being conducted to promote progress and developing of novel treatments by the key players.

The rising incidence of certain blood diseases is the prime factor driving the growth of the rare haematology market.

Hematologists are concentrating on various detection procedures due to the rising occurrence of numerous blood disorders such as anemia, myeloma, leukemia, and sickle cell anemia. Hematologists are looking for improved treatment processes through accurate diagnosis processes as the requirement for conducting relatively rapid diagnosis processes is becoming the order of the day. Hematologists' attention to improving their diagnostic abilities has been further prompted by the increased necessity to identify various blood disorders.

More than 20% of those over the age of 85 are affected, according to the National Library of Health, U.S., 2022. In the population of nursing homes, anemia occurs 50% to 60% of the time. A dietary deficit, such as a lack of iron, folate, or vitamin B12, is the main cause of anemia in the elderly, accounting for about one-third of patients. There is proof of chronic inflammation or renal failure in another third of the individuals. And Statista research estimates that around 234 thousand hemophilia cases will be confirmed globally in 2021. And 90,000 more persons had von Willebrand disease at that time. These two hereditary illnesses that cause bleeding prevent blood from clotting correctly. Due to these factors, the market's growth will continue to pick up steam during the forecast timeframe.

Due to the high price of diagnosing rare haematology is expected to hamper the market’s growth.

The rare haematology market will face limitations due to the high price of the disease, and unfavorable reimbursement policies are also a key factor hindering the growth of the market.

COVID-19 Impact Analysis

The majority of industries have had unfavorable effects in recent months. This can be ascribed to major interruptions in their supply chains and manufacturing processes due to global regulatory agencies' various precautionary lockdowns and other restrictions. The market is no different.

Additionally, consumer demand has decreased as people have become more motivated to cut non-essential spending from their budgets as the general economic situation of most people has been badly impacted by the pandamic. The above factors are anticipated throughout the forecast period to impact the market negatively. However, the global rare hematology market is anticipated to rebound after the relevant governing bodies start pharmaceuticals lift such imposed lockdowns.

Segment Analysis

The adults segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The blood clots incorrectly as a result of hemophilia, an inherited bleeding disorder. Both spontaneous bleeding and bleeding after an accident or surgery may come from this. Hemophilia A primarily affects men, while it can also affect women. Hemophilia A affects about 1 in 5,000 newborns. A severe type of hemophilia A affects about 60% of those who suffer from it.

According to projections made by the American Cancer Society, there will be roughly 20,050 new cases of acute myeloid leukemia (AML) in the state in 2022, most of which will affect adults. AML will cause 11,540 deaths, almost all of which will be in adults.

According to the Indian Express News article from April 2019, approximately 80% of Indians with dangerous blood illness are believed to go undiagnosed since there aren't adequate diagnostic facilities in remote locations, despite advancements in medical technology for hemophilia treatment. Ahead of World Hemophilia Day on April 17, physicians projected that India, with about 200,000 cases, has the second-highest population of individuals with hemophilia. This chronic bleeding illness prevents blood from clotting. This opens up a large market opportunity and will spur growth in the upcoming years.

Geographical Analysis

North America holds the largest market share in the global rare haematology market.

North America dominates the global Rare Haematology market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively moderate pace during the forecast period. Due to the growing elderly population and rising prevalence of rare blood disorders, the North American market for rare hematological disorders would rise. Additionally, the industry will experience a rapid expansion in the coming years due to the major pharmaceutical companies' research initiatives to create new drugs.

Numerous Americans, including millions of people, are carriers of genes that can lead to blood diseases like sickle cell disease and hemophilia, according to the Office of Disease Prevention and Health Promotion's 2019 report. The goal of Healthy People 2030 is to improve the health and standard of living of people with blood diseases.

In the U.S., sickle cell disease, a blood condition, affects more than 100,000 people. Blood transfusions can help avoid and treat problems, and interventions, such as plans to use more hydroxyurea, can improve the health outcomes of patients with sickle cell disease. The regional expansion will be further aided by improved healthcare infrastructure, rising healthcare spending, and helpful government efforts. For instance, scientists funded by the National Heart, Lung, and Blood Institute (NHLBI) in June 2021 discovered life-saving therapies for hemophilia patients and are currently working on gene therapy options to treat the condition.

Competitive Landscape

The Rare Haematology market is moderately competitive with local and global companies’ presence Novartis, Bristol-Myers Squibb Company, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, Emmaus Medical, Inc., Pfizer Inc., Bayer AG, Amgen Inc, CSL Behring LLC and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in December 2022, The 64th American Society of Hematology (ASH) Annual Meeting saw the introduction and public presentation of VGA039, a first-in-class antibody treatment developed by Vega Therapeutics, Inc., a clinical stage biotechnology company.

Novartis AG.

Overview: A healthcare company named Novartis AG (Novartis) specializes in developing, producing, and marketing prescription and over-the-counter medicines and eye care products. It offers medicines for infections, cancer, cardiovascular disease, dermatological issues, neurological disorders, ophthalmic and respiratory illnesses, and cancer. Through Sandoz, the business provides biosimilars and generic medications. Through The Novartis Institutes for BioMedical Research, Novartis conducts research in several illness areas (NIBR).

Product Portfolio

Novartis drug Promacta: PROMACTA is indicated in combination with standard immunosuppressive therapy (IST) for the first-line treatment of adult and pediatric patients 2 years and older with severe aplastic anemia. PROMACTA is indicated for the treatment of patients with severe aplastic anemia who have had an insufficient response to immunosuppressive therapy.

Theglobal Rare Haematology market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.