Global Thalassemia Treatment Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

Global Thalassemia Treatment Market- Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F

Global thalassemia treatment market will witness an impressive growth during the forecast period, 2024-2028. This can be ascribed to the increasing prevalence of thalassemia and its treatment options. Thalassemia is a major public health problem in many developing countries, particularly in Mediterranean region. The high burden of disease has created a strong demand for effective thalassemia vaccines. This has led to significant investment in the development of vaccines that can prevent thalassemia or reduce its severity. It is estimated that there are around 60,000 to 100,000 babies born with severe forms of Beta-thalassemia each year globally, which is around 1.5% of the global population, around 80-90 million are carriers of thalassemia and 60000 individuals are born annually with thalassemia.

The thalassemia treatment market includes various types of therapies such as blood transfusions, iron chelation therapy, and bone marrow transplantation. Blood transfusions are the most common treatment for thalassemia, as they help to replace the defective red blood cells with healthy ones. However, frequent blood transfusions can lead to an excess buildup of iron in the body, which can cause complications such as organ damage and heart failure. Iron chelation therapy is used to remove excess iron from the body, while bone marrow transplantation is considered a curative option for thalassemia.

The growth of the Thalassemia treatment market faces several challenges, including treatment cost due to the frequent blood transfusions, Iron chelation therapy, limited competition, and limited access to generic drugs and the growing trend of vaccine hesitancy and political instability in thalassemic areas. Developing a vaccine requires approval from regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). This process can be lengthy and expensive, and the requirements for approval can be stringent, making it difficult for smaller companies to navigate the process.

Increasing Prevalence of Thalassemia

The increasing prevalence of thalassemia is one of the key drivers of the global thalassemia treatment market. Thalassemia is a genetic disorder that is most found in populations of Mediterranean, Middle East, and Asian descent. The high prevalence of thalassemia in these regions has resulted in growing demand for effective treatment options may be anticipated in the growth of Global thalassemia treatment market.

As the global population continues to grow, the number of people with thalassemia is expected to increase. According to the World Health Organization, thalassemia is one of the most common genetic disorders worldwide, with approximately 300,000 to 500,000 children born with the disease each year. Such increasing prevalence of thalassemia is expected to drive demand for thalassemia treatment market.

Pharmaceutical companies are investing heavily in research and development for new treatments for thalassemia, including gene therapy and fetal hemoglobin induction. These treatments have the potential to provide a curative option for patients with thalassemia, which could significantly improve patient outcomes and quality of life.

Bluebird Bio is developing a gene therapy called Zynteglo (autologous CD34+ cells encoding βA-T87Q-globin gene) for the treatment of transfusion-dependent β-thalassemia. Sangamo Therapeutics is developing a gene therapy called ST-400 for the treatment of β-thalassemia. Hence, it is expected to drive global thalassemia treatment market.

Technological Advancements In Medical Science Promises The Growth Of Market

Technological advancements in medical science have played a significant role in driving the global thalassemia treatment market. The development of new and innovative technologies has enabled the development of more effective treatments for thalassemia, improving patient outcomes and quality of life drives the market of global thalassemia treatment market.

Gene therapy involves the insertion of a functional copy of a gene into a patient's cells to replace a defective or missing gene. FDA approved thalassemia gene therapy treatment costing USD 2.8M per patient. This approach has shown promising results in the treatment of thalassemia, with several gene therapies in development that have shown significant efficacy new gene treatment helped more than 90% of adult and pediatric patients with transfusion-dependent beta-thalassemia achieve transfusion independence.

Stem cell transplantation involves the transplantation of healthy stem cells into a patient with thalassemia. The median cost for treatment is USD 12500. This approach can provide a curative option for patients with severe thalassemia, but it requires a compatible donor and carries the risk of transplant-related complications. Patients who got transplants from matched unrelated donors had a 71% 2-year thalassemia-free survival rate, compared to 82% for patients who received transplants from matched related donors.

Cas9 is a revolutionary gene editing technology that enables precise modification of DNA. This technology has the potential to provide a curative option for patients with thalassemia by correcting the underlying genetic defect is expected to drive the growth of Global Thalassemia Treatment Market.

Increase in Unmet Medical Needs

The increase in unmet medical need has been one of the driving factors behind the growth of the global thalassemia treatment market. Thalassemia is a genetic disorder that affects the production of hemoglobin, leading to anemia and other complications. The severity of the disease can vary widely, and patients with severe forms of thalassemia require regular blood transfusions and other supportive care to manage their symptoms. The availability of some treatments for thalassemia, such as Luspatercept is a treatment for anemia in adults with β-thalassemia who require regular blood transfusions, there remains a significant unmet medical need in this patient population. Many patients still require frequent transfusions and suffer from the complications associated with the disease. In addition, current treatments can be expensive and require ongoing monitoring and management, which can be burdensome for patients and their families. there is a growing demand for new and more effective treatments for thalassemia, particularly those that can provide a curative option for patients. This demand has driven the development of new treatments, such as gene therapy and gene editing, which has the potential to provide a cure for thalassemia the development of new treatments, the increase in unmet medical need has created a growing market for existing treatments, such as blood transfusions and chelation therapy. As the prevalence of thalassemia continues to increase, particularly in developing countries, the demand for these treatments is expected to grow, driving the growth of the global thalassemia treatment market.

Market Segmentation

Global thalassemia treatment market can be segmented by type and region. Based on type, the global thalassemia treatment market can be divided into blood transfusions, iron chelation therapy, blood & bone marrow transplant, and others. Regionally, the thalassemia treatment market can be categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Market Players

Bluebird bio, Inc., Acceleron Pharma, Inc., Celgene Corporation, GlaxoSmithKline plc, Incyte Corporation, La Jolla Pharmaceutical Company, Ionis Pharmaceuticals, Inc., Sanofi S.A., Lonza Group Ltd., and ApoPharma Inc are some of the leading players operating in the global thalassemia treatment market.

Report Scope:

In this report, Global Thalassemia Treatment Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Thalassemia Treatment Market, By Type:
• Blood Transfusions
• Iron Chelation Therapy
• Blood & Bone Marrow Transplant
• Others
• Global Thalassemia Treatment Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• United Kingdom
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Malaysia
• Thailand
• Vietnam
• South America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Egypt
• Bahrain
• Qatar
• Kuwait
• Turkey

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Thalassemia Treatment Market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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