Global Sickle Cell Disease Drugs Market Highlights over 2020-2030
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
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Sickle Cell Disease Drugs Market Regional Synopsis
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:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Our in-depth analysis of the global sickle cell disease drugs market includes the following segments:
By Treatment Type
- Blood Transfusion
- Stem Cell Transplant
By Disease Type
- Sickle Cell Anemia
- Sickle Hemoglobin-C
- Specialty Clinic
- Growing Prevalence of Sickle Cell Diseases
- Increasing Funding in the Medical R&D Activities
- Lack of Healthy Donors
- Costly Treatment for the Disease
Top Featured Companies Dominating the Market
- Addmedica SAS
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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