In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
February 4th, 2022: SANOFI announced that it has received approval for Enjaymo, the first and only approved treatment for use in patients with cold agglutinin disease, by the United States Food and Drug Administration (FDA).
November 5th, 2020: CSL Behring announced that it has received Marketing Authorization Application (MAA) by the chief scientific body of the European Medicines Agency (EMA), the Committee for Medicinal Products for Human Use (CHMP), for its investigational gene therapy, etranacogene dezaparvovec, also known as EtranaDez, applicable for people living with the life-threatening bleeding disorder, hemophilia B.
The global non-cancerous blood disease market is estimated to garner a revenue of USD 105972.8 Million by the end of 2031, by growing at a CAGR of 6.40% over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a revenue of USD 57224.1 Million in the year 2021. The growth of the market can be attributed to the growing prevalence of several non-cancerous blood disorders, such as hemoglobinopathies, platelet & coagulation related disorders, anemia, sickle cell disease, hemophilia, and thalassemia among others. For instance, according to the statistics by the World Health Organization (WHO), in the year 2019, the global prevalence of anemia recorded to be 29.9% in women of reproductive age, 29.6% in non-pregnant women of reproductive age, and 36.5% in pregnant women. Additionally, in children between the ages 6 and 59 months, the prevalence of the disease in the same year was 39.8%.
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The market growth can also be attributed to the growing burden of hemoglobinopathies, backed by the increasing migration of population to higher-income countries from low- as well as middle-income nations. The human migration is expected to continue at an increasing rate amid globalization. Consequently, the number of hemoglobinopathies immigrants is also expected to grow, supported by population growth and transition to public health. Besides this, the increasing need for early diagnosis of these diseases, followed by the rapid advancements in the development of orphan drugs, along with the emerging research activities in the development of advanced drugs and therapies are also expected to boost the market growth in the coming years.
Regionally, the global non-cancerous blood disease market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is anticipated to garner the largest revenue of USD 39845.4 Million by the end of 2031, up from a revenue of USD 21344.6 Million in the year 2021. The growth of the market in the region can primarily be attributed to the growing awareness for non-cancerous blood diseases, along with the rising concern for the increasing economic burden of non-malignant blood disorders. Besides this, the increasing prevalence of these diseases is also expected to contribute to the market growth in the coming years. According to the World Bank, the prevalence of anemia among children (% of children ages 6-59 months) in the European Union increased from 13.86% in the year 2007 to 16.084% in the year 2019.
The market in the region is further segmented by country into Germany, United Kingdom, Italy, France, Russia, and the Rest of Europe. The market in Germany is anticipated to garner the second-largest revenue of USD 7736.2 Million by the end of 2031, up from a revenue of USD 3863.4 Million in the year 2021.
The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global non-cancerous blood disease market is segmented by disorder type into anemia, bleeding disorders, platelet disorders, white blood cell disorders, plasma cell disorders, rare hematological disorders, and spleen disorders. Out of these, the bleeding disorders segment is projected to display the largest revenue of USD 29949.69 Million by the end of 2031, up from a revenue of USD 16570.67 Million in the year 2021. By treatment type, the market is segmented into antibiotics, blood transfusion, infusion therapy, dietary supplements or chelators, and others. Out of these, the blood transfusion segment is anticipated to garner the second-largest revenue of USD 22268.46 Million by the end of 2031, up from a revenue of USD 12120.08 Million in the year 2021. By gender, the market is segmented into male, and female, out of which, the female segment is projected to garner the highest market share by the end of 2031. By end-user, the market is segmented into hospitals, clinics, and others. Out of these, the hospitals segment is anticipated to garner the largest revenue of USD 57466.34 Million by the end of 2031, up from a revenue of USD 31059.08 Million in the year 2021.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global non-cancerous blood disease market that are included in our report are SANOFI, Novo Nordisk A/S, Novartis AG, Pfizer Inc., Amgen Inc., Alexion Pharmaceuticals, Inc., Bayer AG, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., Takeda Pharmaceutical Company Limited, CSL Behring, and others.
Ans: The increasing prevalence of various non-cancerous blood disorders, growing number of hemoglobinopathies immigrants, and escalating need for early diagnosis of diseases are some of the major factors anticipated to drive the market growth.
Ans: The market is anticipated to attain a CAGR of 6.40% over the forecast period, i.e., 2022 – 2031.
Ans: The high cost of treatment of these diseases, along with the complexities in monitoring several non-malignant blood disorders are estimated to hamper the market growth.
Ans: The market in Europe region is anticipated to garner the largest revenue of USD 39845.4 Million by the end of 2031 and provide more business opportunities in the future.
Ans: The major players in the market are SANOFI, Novo Nordisk A/S, Novartis AG, Pfizer Inc., Amgen Inc., Alexion Pharmaceuticals, Inc., Bayer AG, Bristol Myers Squibb Company, F. Hoffmann-La Roche Ltd., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by disorder type, treatment type, gender, end-user, and by region.
Ans: The bleeding disorders segment is projected to display the largest revenue of USD 29949.69 Million by the end of 2031 and display significant growth opportunities.
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