Research Nester released a report titled “Sickle Cell Disease Drugs Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers a detailed overview of the global sickle cell disease drugs market in terms of market segmentation by treatment type, disease type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global sickle cell disease drugs market is projected to record a substantial CAGR during the forecast period, i.e., 2021-2030. By treatment type, the market is segmented into blood transfusion, stem cell transplant, and pharmacotherapy, out of which, the stem cell transplant segment is projected to hold the largest share in the market during the forecast period owing to the increasing demand for stem cell transplant, as it is the only treatment method that can completely cure sickle cell disease. However, high cost of this treatment is expected to hamper the segment growth.The market is segmented by end-user into hospital, homecare, specialty clinics, and others. Out of these, the hospital segment is projected to hold the largest market share over the forecast period, owing to rising number of hospitals coupled with the growing patient pool of sickle cell disease.
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The growth of the global sickle cell disease drugs market can be attributed to the growing cases of the genetic disease among people on account of various factors such as unhealthy lifestyles, and hormonal changes, among others. Due to the deletion of chromosomes in the genes, the red blood cells get elongated and form sickle-shape. These RBC cannot carry oxygen, which makes the affected individual deficient in oxygen, causing various problems, such as, acute pain in chest, swelling in limbs, and dizziness. Moreover, the increasing investment in R&D activities, is estimated to boost the market growth.
Geographically, the global sickle cell disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, the market in the North America is estimated to lead the market during the forecast period. This can be attributed to the presence of leading pharmaceutical companies in the region, coupled with increasing investment in R&D activities for the development of new drugs. Moreover, increasing government investment in healthcare sector, and high per capita healthcare expenditure, is estimated to boost the market growth. As per the data by the World Health Organization (WHO), over USD 10,050.279 was spent per capita for healthcare services in North America, in 2018. The market in the Asia Pacific region is anticipated to hold a significant market share over the forecast period, owing to the advanced treatment options and high demand for targeted therapies, backed by growing population and increasing cases of the disease.
High Medical R&D Investments to Boost the Growth of the Market
There is an up-surge in research related to treatment for genetic diseases, owing to the severe symptoms of sickle cell disease. The increasing demand for novel treatment methods, along with the growing government and private funding in the R&D activities is estimated to boost the growth of the global sickle cell disease drugs market over the coming years.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, the high cost of treatment, can financially and mentally drain the patient’s family, which is anticipated to restraint the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global sickle cell disease drugs market which includes company profiling of Addmedica SAS, Medunik USA Inc., Emmaus Life Sciences, Inc. (OTCMKTS: EMMA), CellSeed, Inc. (TYO: 7776), Global Blood Therapeutics, Inc. (NASDAQ: GBT), Sio Gene Therapies Ltd. (NASDAQ: SIOX), Imara, Inc. (NASDAQ: IMRA), Modus Therapeutics AB, Bluebird bio, Inc. (NASDAQ: BLUE), and Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX). The profiling enfolds key information of the companies which encompasses business overview, products, and services, key financials and recent news and developments. On the whole, the report depicts a detailed overview of the global sickle cell disease drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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