The global thalassemia market size is expected to be valued at USD 3.53 billion by 2022, as per a new report by Grand View Research, Inc., exhibiting a CAGR of 10.8% during the forecast period. Increase in demand for a universal cure, rise in awareness about the disease, and technological advancements are likely to increase the adoption of gene therapies.
Thalassemia is a general term for a group of inheritable blood disorders, in which the body produces abnormal hemoglobin, resulting in the destruction of red blood cells. This ultimately leads to anemia. There are two main types of thalassemia: alpha-thalassemia and beta-thalassemia, the latter being more serious. Beta-thalassemia is a common autosomal recessive disorder worldwide and it is relatively rare in the U.S.
Increase in the incidence of thalassemia is anticipated to fuel market growth. Despite technological advancements, the unmet need for a reliable treatment option still exists. Treatment of thalassemia is mostly restricted to regular blood transfusions and iron chelation therapy. Drugs prescribed for thalassemia mostly cure symptoms and side effects such as anemia, iron overload, and vitamin deficiency. However, gene therapy is emerging as a reliable treatment option for the disease.
Prevalence of thalassemia is reported to increase gradually over the years across different regions. This can be attributed to population migration, intermarriages, and genetic and environmental factors prompting the condition and its implications.
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The global thalassemia market is expected to expand at a lucrative CAGR of 10.8% over the forecast period because of improved safety and efficacy profiles of gene therapy
India and Thailand are expected to offer lucrative growth opportunities for market expansion
Some of the key players in the industry with promising pipeline products are bluebird bio, Inc.; Acceleron Pharma; Novartis AG; Incyte Corporation; Kiadis Pharma; Gamida Cell; and Celgene Corporation
Blood transfusion and iron chelation therapies were the preferred treatment options for thalassemia in 2016, owing to their higher usage, ease, and affordability. However, the segments are likely to lose market share over the forecast period due to the increase in adoption of curative gene therapy
Regionally, among the seven major markets, EU5 held the dominant share in terms of revenue in 2016, followed by U.S. and Japan
U.S. is expected to be the fastest-growing region with a lucrative CAGR from 2016 to 2022 due to an increase in the prevalence of the disease and presence of well-established healthcare services
Grand View Research has segmented the global thalassemia market based on therapeutic class, pipeline, and region:
Thalassemia Therapeutic Class Outlook (Revenue, USD Million, 2016 - 2022)
Iron Chelating Drugs
Pipeline Outlook (Revenue, USD Million, 2016 - 2022)
Regional Outlook (Revenue, USD Million, 2016 - 2022)
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