Sickle cell disease (SCD) is a genetic blood disorder that affects hemoglobin, the molecule in red blood cells that carries oxygen throughout the body. The disease is characterized by the production of abnormal hemoglobin, which causes red blood cells to take on a sickle shape. This shape can cause red blood cells to clog the small blood vessels, leading to a lack of oxygen flow to various parts of the body.The sickle cell disease treatment market is expected to grow significantly in the coming years, due to the increasing prevalence of SCD, growing awareness about the disease, and advancements in treatment options. The market is also driven by increasing government initiatives and investments in research and development.
The global Sickle Cell Disease (SCD) Treatment Market size was valued at USD 1.70 billion in 2021, and is expected to reach USD 7.56 billion by 2023, growing at a CAGR of 18.1% over the forecast period. The increasing incidence of sickle cell disease, combined with the growing demand for more effective treatments, is driving the market growth.
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Some Key Highlights From the Report
- On 30 October 2022, Novartis AG, which is a pharmaceutical company based in Switzerland announced to launch Adakveo (crizanlizumab) after it had received approval from European Commission (EC) for prevention of recurrent Vaso-Occlusive Crises (VOCs) in patients with sickle cell disease aged 16 years and older. Adakveo binds to P-selectin, a cell adhesion protein that is essential for multicellular interactions that can result in vaso-occlusion. Adakveo has now received regulatory approval in 36 countries, including those that are members of European Union (EU) and the U.S.
- The blood transfusion segment accounted for largest revenue share in 2021. Market revenue growth of is primarily driven due to high demand for blood transfusions in sickle cell treatment. The transfusion mainly lowers hemoglobin S red blood cells, therefore, limiting its activity of blocking blood vessels. It also increases number of normal red blood cells, thereby increasing amount of hemoglobin in body.
- The hospitals segment accounted for largest revenue share in 2021. Increasing consumer awareness regarding benefits of availing hospitals is a key factor driving market revenue growth. Hospitals aid in providing routine blood transfusions and frequent monitoring of patients with thalassemia and sickle cell anemia. In addition, it aids in monitoring iron excess, medicine toxicity, growth, development, and psychological well-being of patients. Increasing occurrence of symptoms, such as VOC in patients suffering from sickle cell disease, is another major factor driving revenue growth of this segment. In 2021, according to National Centre of Biological Information (NCBI), VOC was found to be the major cause of hospitalizations among children with sickle cell disease.
- The North America accounted for largest revenue share in 2021. Increasing investments in healthcare and launch of new products are key factors driving market revenue growth. The U.S. market accounted for largest revenue share owing to presence of market companies such as Bristol Myers Squibb, bluebird bio Inc., and others. In addition, increasing support from government to promote awareness regarding the disease driving market revenue growth.
Top Players in the Global Sickle Cell Disease (SCD) Treatment Market:
Novartis AG, F. Hoffmann-La Roche Ltd, Bristol Myers Squibb Company, Global Blood Therapeutics Inc., Emmaus Medical, Inc., bluebird bio, Inc., Medunik USA, Sangamo Therapeutics, Intellia Therapeutics, Inc., and Addmedica.
Key Regional Markets Covered in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, Spain, France, BENELUX, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Sickle Cell Disease (SCD) Treatment market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Sickle Cell Disease (SCD) Treatment market?
- Which regional market is expected to lead in terms of revenue share in the global Sickle Cell Disease (SCD) Treatment market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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