Hemoglobinopathies Market To Reach $20.70 Billion By 2030

Hemoglobinopathies Market Growth & Trends

The global hemoglobinopathies market size is expected to reach USD 20.70 billion by 2030 and is expected to expand at a CAGR of 12.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing steady growth due to increasing prevalence of disorders like sickle cell disease (SCD) and thalassemia. The driving factors include advancements in diagnostic techniques, growing awareness, and improving healthcare infrastructure. Additionally, the development of innovative therapies and government initiatives are contributing to market expansion.

In recent years, there have been significant advancements in diagnostic techniques for sickle cell disease. One prominent trend is the increased utilization of molecular genetic testing, specifically DNA analysis, to identify specific mutations associated with the disease. This approach allows for precise and accurate diagnosis, enabling healthcare professionals to determine the presence of sickle cell trait or SCD in individuals. Additionally, technological advancements have led to the development of point-of-care testing devices, enabling rapid screening and diagnosis in resource-limited settings. These advancements in diagnostic techniques not only enhance early detection and intervention but also facilitate genetic counseling and family planning for individuals at risk of passing on the disease.

Advancements in therapy for hemoglobinopathies, including SCD and thalassemia, have shown promising trends in recent years. Development and utilization of gene therapy approaches is one of the prevalent trend in the market. Gene therapy aims to correct the genetic mutations responsible for these conditions by introducing functional genes into affected cells. Several successful clinical trials have demonstrated significant improvements in disease symptoms and reduced transfusion dependence in patients. Additionally, the emergence of gene editing techniques, such as CRISPR-Cas9, holds great potential for precisely modifying faulty genes in a patient's own cells. This innovative approach has shown promising results in preclinical studies and may offer a curative option for hemoglobinopathies in the near future. Furthermore, advancements in supportive care, including transfusion protocols, iron chelation therapy, and improved stem cell transplantation techniques, continue to contribute to enhanced outcomes for patients with hemoglobinopathies.

An increase in investment and funding for the development of novel therapies to treat hemoglobinopathies will further boost the market growth over the forecast period. For instance, in May 2023, U.S. Senators introduced the Sickle Cell Care Expansion Act, legislation to offer funding for services to advance the quality of life for the growing number of patients living with Sickle Cell and support the medical staff that treats sickle cell disease. Furthermore, private funding such as the Bronx Blood Research Fund (BBRF) provides a platform for research and management of thalassemia and other hemoglobinopathies.

High cost of treatment might an adverse impact on the market. For instance, according to new research supported by the National Institutes of Health, living with sickle cell disease costs Americans ages 64 and under with commercial health insurance about USD 44,000 more in out-of-pocket medical expenses over their lifetimes than people without the condition. Additionally, insurers shell out an average of USD 1.7 million for each sickle cell disease patient.

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Hemoglobinopathies Market Report Highlights

• The sickle cell disease segment held the largest share of 58.6% in 2022 of the hemoglobinopathies market and is expected to grow at the fastest rate during the forecast period. This is attributed to growing initiatives by biopharmaceutical companies and nonprofit organizations focused on improving access to SCD treatment

• The sickle cell disease diagnosis segment dominated the hemoglobinopathies market and accounted for a 50.5% share in 2022 owing to high diagnostic rates in North America and Europe

• By therapy, the sickle cell disease segment held the largest revenue share of 62.1% in 2022. Extensive research coupled with government funding for the development of novel therapies for treating the disorder is the major factor contributing to the segment growth

• North America held the largest revenue share of 37.7% in 2022 owing to increasing awareness of hemoglobinopathies, improving healthcare facilities and launch of new products in the region are the major factor augmenting the regional growth

• Asia Pacific is estimated to exhibit the fastest growth rate over the forecast period. The presence of a large number of patients suffering from sickle cell disease and thalassemia is expected to propel market growth in the coming years

• Major players in the market are Sangamo Therapeutics, bluebird bio, Inc., Global Blood Therapeutics, Inc., Pfizer, Inc., Emmaus Life Sciences, Inc., Prolong Pharmaceuticals, LLC, Celgene Corporation, Bioverativ Inc., Gamida Cell and Novartis AG

Hemoglobinopathies Market Segmentation

Grand View Research has segmented the global hemoglobinopathies market based on type, diagnosis, therapy, and region:

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

• Thalassemia

• Sickle Cell Disease

• Other Hemoglobin (Hb) Variants

Hemoglobinopathies Diagnosis Outlook (Revenue, USD Million, 2018 - 2030)

• Thalassemia

  • Blood Test

  • Genetic Test

  • Prenatal Genetic Test

  • Pre-implantation Genetic Diagnosis

  • Electrophoresis

  • Others

• Sickle Cell Disease

  • Blood Test

  • Genetic Test

  • Prenatal Genetic Test

  • Electrophoresis

  • Others

• Other Hemoglobin (Hb) Variants

  • Blood Test

  • Genetic Test

  • Prenatal Genetic Test

  • Electrophoresis

  • Others

Hemoglobinopathies Therapy Outlook (Revenue, USD Million, 2018 - 2030)

• Thalassemia

  • Blood Transfusion

  • Iron Chelation Therapy

  • Bone Marrow Transplant

  • Others

• Sickle Cell Disease

  • Blood Transfusion

  • Hydroxyurea

  • Bone Marrow Transplant

  • Others

• Other Hemoglobin (Hb) Variants

  • Blood Transfusion

  • Hydroxyurea

  • Iron Chelation Therapy

  • Bone Marrow Transplant

  • Others

Hemoglobinopathies Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

  • Russia

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • India

  • China

  • Japan

  • Singapore

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Argentina

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • United Arab Emirates

  • South Africa

  • Kuwait

List of Key Players in the Hemoglobinopathies Market

• Sangamo Therapeutics, Inc.

• Global Blood Therapeutics, Inc.

• bluebird bio, Inc.

• Emmaus Life Sciences Inc.

• Pfizer, Inc.

• Novartis AG

• Prolong Pharmaceuticals, LLC

• Bioverativ Inc.

• Gamida Cell

• Celgene Corporation