Global Thalassemia Treatment Market - 2022-2029

Global Thalassemia Treatment Market - 2022-2029

Market Overview

Thalassemia Treatment Market is expected to grow at a CAGR of 10.5% during the forecasting period (2022-2029).

Thalassemia is an inherited blood disorder that reduces the production of functional hemoglobin, the protein in red blood cells that carries oxygen. This causes a shortage of red blood cells and low oxygen levels in the bloodstream, leading to various health problems. Signs and symptoms vary but may include mild to severe anemia, paleness, fatigue, yellow discoloration of the skin, and bone problems. When there are not enough healthy red blood cells, there is also not enough oxygen delivered to all the other cells of the body, which may cause a person to feel tired, weak or short of breath. This is a condition called anemia. People with thalassemia may have mild or severe anemia. Severe anemia can damage organs and lead to death.

Market Dynamics

The thalassemia treatment market growth is driven by several factors, such as an increase in the prevalence of thalassemia, a rise in global awareness and, increasing investment in research and development.

The rising awareness about thalassemia is expected to drive market growth.

An increase in awareness about thalassemia is very important for the prevention of the disease. Many organizations are working towards this cause by initiating awareness campaigns. Governments of countries are also supporting the cause by investing in these programs. For instance, International Thalassaemia Day is celebrated on May 8 to raise awareness amongst people concerned with decision and policymaking, health care professionals, patients and their families and the community at large about thalassemia. The majority of the population is unaware of the disease, especially in more prevalent areas, such as the Asia Pacific and the Mediterranean. The Center for Disease Control and Prevention (CDC) funds one project that monitors blood safety in people with blood disorders. This project is called “Characterizing the Complications Associated with Therapeutic Blood Transfusions for Hemoglobinopathies.” Georgia State University, the University of Florida, and the University of California at San Francisco Benioff Children’s Hospital Oakland have been awarded funding to look at transfusion-related complications in people with hemoglobin disorders (sickle cell disease and thalassemia) and develop approaches for reducing these complications. Besides, CDC funds the Association of Public Health Laboratories to provide public health technical assistance with screening (a test to look for a disease before it is noticeable) activities, including needs assessments for laboratories, as well as education for patients, caregivers, and healthcare workers on hemoglobinopathy screening programs.

The high cost of treatment is expected to hinder global thalassemia treatment market growth.

The high cost of treatment is expected to hamper the global thalassemia treatment market growth.

Industry analysis.

The global thalassemia treatment market report will provide an in-depth analysis of the market based on various industry factors such as porter`s five forces, innovations, new product launches, pricing analysis, and pipeline analysis.

COVID-19 Impact Analysis

COVID-19 has significantly impacted the global Thalassemia Treatment market. Since COVID-19 containment protocols, the supply chain of many market players was disrupted and caused a lack of raw materials to disturb the supply and demand chain. Furthermore, because of the socializing restrictions, regular healthcare checkups were difficult, leaving most patients with thalassemia undetected, negatively impacting the global Thalassemia Treatment market growth during the pandemic.

Global Thalassemia Treatment Market - Segment Analysis/B>

The alpha-thalassemia is expected to dominate the thalassemia treatment market throughout the forecast period (2022-2029)

Alpha thalassemia is expected to hold the largest market share over the period forecast (2022-2029) owning to a higher prevalence of the disease globally. According to National Organization for Rare Disorders, alpha thalassemia occurs in 4-20 individuals per every 1,000 births. Alpha thalassemia is found in most populations worldwide but is most common in the Middle East, Southeast Asia, and certain Mediterranean countries. Doctors in Europe and North America are also increasingly encountering patients with alpha-thalassemia due to increased migration. Alpha-thalassemia is an inherited disease caused by mutations in a gene required for making a component of hemoglobin. Those mutations either prevent or reduce the production of hemoglobin, which can cause a shortage of mature red blood cells and lead to anemia. The mutations that cause alpha-thalassemia are more common in Asia, India, the Middle East and the Mediterranean where they are found in up to 20% of the population. But the increase in modern migration means that cases are now cropping up more often in other regions. Southern Mediterranean countries recognize the rise in patients with alpha-thalassemia and have increased resources to meet the growing demand appropriately, hence increasing the market for alpha-thalassemia treatment globally.

Geographical Analysis

The North American region holds the largest market share of the global thalassemia treatment market.

North America is dominating the thalassemia treatment market in 2018 and is estimated to hold the largest market size over the forecast period (2022-2029), owing to an increase in thalassemia incidences, highly aware population, advanced healthcare infrastructure and favorable government initiatives. The cases of thalassemia disorder are increasing in the region due to migration. Thalassemia, once a rarity in the US, is increasingly encountered in clinical practice due to shifts in immigration. Thalassemia is becoming more prevalent in the US due to the immigration of people from affected regions; according to Cooley's Anemia Foundation, 12% of patients with β‐thalassemia in their US patient database were adopted from other countries. Furthermore, many organizations and societies are working in this region to spread awareness about thalassemia and ensure its dominance over the global market.

Competitive Landscape

Some of the major key players in the market are Vifor Pharma, Kiadis Pharma, Gamida Cell, ApoPharma, bluebird bio, Inc., Novartis AG, Bristol-Myers Squibb Company, Celgene Corporation, La Jolla Pharmaceutical, Sangamo Biosciences, and Acceleron Pharma. In the thalassemia treatment market, bluebird bio-Inc. will dominate the market, owning to portfolio expansion, mergers, collaborations, and acquisitions. The key players are adopting various growth strategies such as mergers & acquisitions, partnerships, and collaborations and increasing research and development and high investment, which are contributing to the growth of the thalassemia treatment market globally. For instance, on April 16, 2021, Sanofi acquired Kiadis. Also, on December 22, 2021, Novartis acquired Gyroscope Therapeutics.

Bristol-Myers Squibb Company

Overview:

The Bristol-Myers Squibb Company was founded in 1887 and is headquartered in New York City. BMS is a leading pharmaceutical company and has consistently ranked among the largest U.S. corporations. For fiscal 2021, it had total revenue of $46.4 billion.

Product Portfolio:

The product portfolio of Bristol-Myers Squibb Company for thalassemia treatment contains REBLOZYL.

The global thalassemia treatment market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.