Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· April 20, 2021: Bluebird Bio, Inc. announced the updated status of its undertrial drug LentiGlobin for sickle cell disease, which is in its Phase 1/2 study.
The global sickle cell disease drugs market is estimated to garner a substantial CAGR over the forecast period, i.e., 2021–2030. The growth of the market can be attributed to the growing cases of various sickle cell diseases, such as, sickle cell anemia, and sickle hemoglobin- C, among others. The cause of this disease is the deletion of certain chromosomes in the genes, which causes the red blood cells (RBC) to elongate and get a sickle-like shape. Treatment of the disease majorly aims at curing symptoms, including, pain crisis, swelling in hands and legs, dizziness, and shortage of oxygen. This raises the scope for R&D activities for developing novel drugs and treatment methods for this disease, which is estimated to boost the growth of the market.
The global sickle cell disease drugs market is segmented by treatment type into blood transfusion, stem cell transplant, and pharmacotherapy, out of which, the stem cell transplant segment is anticipated to hold the largest share in the market during the forecast period as stem cell transplant is the only treatment method that can permanently treat sickle cell disease. This is estimated to increase the demand for stem cell transplant among the patients. Based on end-user, the market is segmented into hospitals, home care, specialty clinics, and others out of which hospital segment is anticipated to hold the largest market share throughout the forecast period owing to the increasing patient pool of sickle cell disease and new advancements in the treatment technology. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, 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. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of the advanced medical facilities, and research and development activities. Moreover, the increasing government investment in healthcare sector and favorable reimbursement policies is estimated to boost the regional market growth. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America. As pr another report by WHO, the per capita healthcare expenditure of North America valued USD 10,050.279, in the same year. The market in the Asia Pacific is estimated to witness notable growth accounting to the increasing population and prevalence of sickle cell disease in the region. Furthermore, constant development in the public healthcare system, along with the economic development in the APAC region also tends to positively influence the market growth.
The global sickle cell disease drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global sickle cell disease drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising prevalence of sickle cell disease, such as, sickle cell anemia, due to genetic mutation is estimated to drive the market growth.
The market is anticipated to attain a substantial CAGR over the forecast period, i.e., 2021-2030.
Lack of healthy donors, and high cost of the treatment are estimated to hamper the market growth.
The market in North America is estimated to show maximum business opportunities during the forecast period owing to the growing advanced medical research, high per capita healthcare expenditure, and development activities in the region.
The major players in the market are Medunik USA Inc., Emmaus Life Sciences, Inc., CellSeed, Inc., Global Blood Therapeutics, Inc., Sio Gene Therapies Ltd., Imara, Inc., Modus Therapeutics AB, Bluebird bio, Inc., Vertex Pharmaceuticals Incorporated, and others.
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.
The market is segmented by treatment type, disease type, end-user, and by region.
The hospital segment is anticipated to hold largest market size over the forecast period owing to the increasing patient pool of sickle cell disease.
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