Thalassemia Market Size, Share & Trends Analysis Report By Treatment (Iron Chelating Drugs, Erythroid Maturation Agents, Stem Cell Therapy), By Type (Alpha Thalassemia, Beta Thalassemia), By Region, And Segment Forecasts, 2024 - 2030

Thalassemia Market Size & Trends

The global thalassemia market size was valued at USD 850.0 million in 2023 and it is projected to grow at a CAGR of 7.8% from 2024 to 2030. This growth can be attributed to rising awareness about thalassemia and the importance of proper management, advancement in medical technology, rising healthcare expenditure, supportive regulatory environment, strategic collaborations and partnerships, and patient-centric care models.

The growing awareness about thalassemia among the people, improvements in diagnostic procedures, and the implementation of screening & counseling programs lead to more patients being diagnosed early and seeking treatment. In addition, research and development efforts in gene therapy, bone marrow transplant, and other new treatments are being explored to improve the management of Thalassemia, which in turn has improved the treatment outcome and the overall life of the patient.

The increasing healthcare expenditure globally, coupled with improving access to healthcare services in developing regions, is facilitating better management of thalassemia, thereby boosting the demand for related treatments and therapies.

Treatment Insights

The iron chelating drugs segment held the largest revenue share of 52.7% in 2023. Patients with thalassemia often require regular blood transfusions, which can lead to iron overload in the body. Iron overload can cause serious complications such as organ damage and heart problems. Iron chelating drugs are essential in managing iron overload by binding excess iron and facilitating its excretion from the body.

The stem cell therapy segment is expected to grow at the fastest CAGR of 9.2% during the forecast period. Stem cell therapy, particularly hematopoietic stem cell transplantation (HSCT), offers a curative potential for thalassemia patients. HSCT involves replacing damaged or dysfunctional cells with healthy stem cells that can differentiate into healthy blood cells, providing a long-term solution for thalassemia. In addition, ongoing advancements in stem cell technologies, including gene editing techniques like CRISPR-Cas9, have improved the efficacy and safety of stem cell therapies for thalassemia.

Type Insights

The beta thalassemia held the largest revenue share of 71.2% in 2023. Ongoing advancements in diagnostic techniques and treatment options for beta thalassemia have significantly improved patient outcomes. In addition, innovations such as genetic testing, prenatal screening, and stem cell transplantation have enhanced early detection and management strategies for beta thalassemia patients, increasing the demand for related healthcare services and products.

The alpha thalassemia is expected to grow significantly at a CAGR of 6.8% in the coming years. Alpha thalassemia is a genetic disorder caused by mutations in the HBA1 and HBA2 genes, leading to reduced or absent production of alpha globin chains. Research and development efforts have led to advancements in treatment options for alpha thalassemia, including blood transfusions, iron chelation therapy, and hematopoietic stem cell transplantation.

Regional Insights & Trends

North America thalassemia market dominated the global market with a revenue share of 42.8% in 2023. It can be attributed to its advanced healthcare infrastructure, technological advancements, research initiatives, government support, and awareness programs focused on this genetic blood disorder.

U.S. Thalassemia Market Trends

The U.S. thalassemia market dominated the North America market in 2023 due to technological advancement, increasing awareness of thalassemia and related diseases. The U. S. has well well-developed medical system with modern technologies and qualified personnel. This infrastructure enables efficient diagnosis, treatment, and management of thalassemia, attracting patients from around the world seeking high-quality care.

Europe Thalassemia Market Trends

Europe thalassemia market is expected to grow rapidly during the forecast period. This growth is attributed to the rise in disease incidence, availability of new treatment solutions, increased expenditure on health care, awareness programs, and support and funding from government bodies.

The UK thalassemia market is expected to grow significantly in the coming years due to factors such as increasing awareness about thalassemia, introduction & approvals of new treatments for thalassemia. For instance, in November 203, Medicines and Healthcare products Regulatory Agency (MHRA) authorized Casgevy, a CRISPR-based gene-editing treatment for sickle cell disease and beta thalassemia.

Asia Pacific Thalassemia Market Trends

Asia Pacific thalassemia market is anticipated to witness the fastest CAGR of 9.3% in the coming years. Rising awareness about the disease and its treatment options, coupled with advancements in technology such as stem cell therapy, are driving market growth.

The thalassemia market in India is expected to grow rapidly from 2024 to 2030. The increasing healthcare expenditure in India and increasing number of children with Thalassemia play a crucial role in driving the growth of the thalassemia drug market. As per the india.gov.in, it is estimated that every year more than 10,000 children are born with Thalassemia in India.

Key Thalassemia Company Insights

Some of the key companies in the thalassemia market include Fresenius Kabi AG, Novartis  Pharmaceuticals Corporation, Apotex Inc., and bluebird bio, Inc. Organizations in the market are focusing on increasing awareness about thalassemia and other blood disorders and increasing the accessibility of treatments for such diseases. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies as well as research institutions and NGOs. 

Recent Developments

• In January 2024, the U.S. FDA approved Casgevy, CRISPR-based medicine, for second application i.e. it can be used to treat transfusion-dependent beta thalassemia patients of age 12 & older. Casgevy was approved in December 2023 to treat patients with sickle cell disease.

• In August 2022, the FDA approved Zynteglo (beti-cel) to treat  beta thalassemia. It is a first curative gene therapy for patients requiring regular red blood cell transfusions.

Thalassemia Market Report Scope

Global Thalassemia Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global thalassemia report based on treatment, type, and region.

• Treatment Outlook (Revenue, USD Million, 2018 - 2030)

  • Iron Chelating Drugs

  • Erythyroid maturation agents

  • Stem Cell therapy

  • Others

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Alpha Thalassemia

  • Beta Thalassemia

• Regional Outlook (Revenue, USD Million; 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait