Global Hemoglobinopathies Market 2024-2031

Global Hemoglobinopathies Market 2024-2031

Hemoglobinopathies Market Size, Share & Trends Analysis Report by Type (Thalassemia, Sickle Cell Disease, and Others), by Therapy (Monoclonal Antibody Medication, ACE inhibitors, Hydroxyurea, and Others), and by Distribution Channel (Hospital Pharmacy, Online Providers, and Drug Stores and Retail Pharmacy), Forecast Period (2024-2031)

Hemoglobinopathies market is anticipated to grow at a CAGR of 7.9% during the forecast period (2024-2031). Hemoglobinopathies are caused by a mutation in the gene of DNA of hemoglobin molecule. Structural abnormalities in the hemoglobin molecule generate defective red blood cells, which is a root cause of sickle cell disease. Furthermore, the presence of hemoglobin-related diseases is higher in Asia and Africa region. According to the World Health Organization (WHO), 7.0% of the world’s population is affected by hemoglobinopathies. WHO also estimated that 30,000-40,000 newborn babies carry severe hemoglobinopathies from their parents as a genetic disorder.

Market Dynamics

Growing Awareness about Hemoglobinopathy

The increasing awareness regarding hemoglobinopathies and government initiatives to diagnose the diseases at an early stage are the driving factors of the market growth. Further, the insufficient healthcare infrastructure and low levels of disease diagnosis and treatments are expected to drive market growth. Also, the increasing number of blood donations in government initiatives is helping to boost market growth. Moreover, many patients with sickle cell disease & thalassemia are also helping to boost the market growth over the forecast period.

Rising Prevalence of Hemoglobin Disorders Drives the Market Growth

Globally, the rising prevalence of hemoglobin disorders such as sickle cell anemia, thalassemia, Hb C, and Hb E is estimated to be the high-impact rendering driver of the market. According to the WHO, hemoglobin disorders are endemic in over 60.0% of the 229 countries affecting over 70.0% of births. As per the report published by the Centers for Disease Control and Prevention (CDC) in 2015, the initial screening of newborns to identify sickle cell disease (SCD) along with other hemoglobin disorders such as alpha (α) and beta (β) thalassemia have also gained significant attention in recent years due to the change in the US demographics.

Market Segmentation

Our in-depth analysis of the global hemoglobinopathies market includes the following segments by type, therapy, and distribution channel:

Based on type, the market is segmented into thalassemia, sickle cell disease, and others.

Based on therapy, the market is segmented into monoclonal antibody medication, ace inhibitors, hydroxyurea, and others.

Based on distribution channel, the market is segmented into hospital pharmacies, online providers, and drug stores and retail pharmacies.

Sickle Cell Disease is Projected to Emerge as the Largest Segment

The sickle cell disease segment is expected to hold the largest share of the market. The sickle cell disease diagnosis market has witnessed prominent trends in recent years. One substantial trend is the development and adoption of innovative diagnostic technologies. Advances in genetic testing, including next-generation sequencing and molecular diagnostics, have enabled more accurate and efficient identification of sickle cell disease and its variants. Point-of-care testing (POCT) devices and rapid diagnostic kits have also emerged, allowing for quick and convenient screening in various healthcare settings. For instance, in May 2023, Molbio Diagnostics collaborated with ShanMukha Innovations to design, develop, and commercialize reasonably priced point-of-care diagnostic devices for diagnosing hemoglobinopathy-related diseases.

Monoclonal Antibody Medication Segment to Hold a Considerable Market Share

The monoclonal antibody medication segment holds a considerable market share in the hemoglobinopathy market. It is because of the sufficient medications available for the therapy and because thalassemia patients show healthy recovery by monoclonal antibody medication. Monoclonal antibodies are like antibodies that a human body develops, which mimic the activity of the immune system. They are created through a process in which specific antibodies are drawn out of the blood and then cloned.

Regional Outlook

The global hemoglobinopathies market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific to Experience the Rapid Market Growth

Asia-Pacific is anticipated to exhibit the fastest growth rate over the forecast period. The presence of many patients with sickle cell disease and thalassemia is expected to propel market growth in the coming years. Favorable government initiatives to improve the standard of care provided to patients affected with hemoglobinopathies contribute to the region's market growth. For instance, in May 2023, the Union Minister of State for Health and Family Welfare launched the third phase of the Thalassemia Bal Sewa Yojana of the Health Ministry. The government also launched the Thalassemia Bal Sewa Yojana Portal.

North America Holds Major Market Share

North America holds a significant share owing to increasing awareness of hemoglobinopathies among people and improving healthcare facilities. Various organizations spread awareness by conducting different programs. For instance, SCDAA is a national organization in the US that promotes awareness, advocacy, and support for individuals and families affected by sickle cell disease. They provide resources and educational materials and host events to increase understanding and improve the lives of those with the condition. Various initiatives undertaken by research organizations and government bodies to promote research to develop novel therapies for treating hemoglobinopathies are likely to contribute to the market growth in the region.

Market Players Outlook

The major companies serving the global hemoglobinopathies market include Novartis AG, Pfizer Inc., Sangamo Therapeutics, and Sanofi, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in March 2023, Bluebird Bio applied its sickle cell gene therapy, lovo-cel to the FDA for approval. The drug upon approval would compete with CRISPR Therapeutics and Vertex Pharmaceuticals. The therapy is expected to be commercialized by the second half of 2023.