LONDON--(BUSINESS WIRE)--The global hemoglobinopathies treatment market is expected to post a CAGR of close to 11% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global hemoglobinopathies treatment market is the rising awareness of SCD and thalassemia. These diseases are the major types of hemoglobinopathies, which are passed from parents to the offspring. The early detection of SCD and thalassemia aids in treating them more effectively. Therefore, government and non-government organizations are conducting awareness programs to avoid the delay in the diagnosis and the unawareness of the treatment options.
As per Technavio, the development of gene therapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global hemoglobinopathies treatment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
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In this report, Technavio highlights the development of gene therapy as one of the key emerging trends in the global hemoglobinopathies treatment market:
Global hemoglobinopathies treatment market: Development of gene therapy
Regenerative medicines such as gene therapy are one of the most researched and advanced treatment methods. In gene therapy, the mutated gene is taken from the patient and is modified genetically in the laboratory, which is then administered back into the patient. Hence, the genetically modified gene replaces the mutated genes. Although only a few gene therapies are currently approved worldwide, they have proven to be highly effective for the treatment of various activities. Consequently, many companies are conducting clinical trials for the treatment of hemoglobinopathies. The advances of regenerative medicines in the clinical phases are expected to fuel the growth of the global hemoglobinopathies treatment market.
“Pharmaceutical companies are focusing on collaboration for the development of medications for the treatment of hemoglobinopathies. These strategic alliances can enhance R&D activities for new drugs for the management of hemoglobinopathies. Such initiatives are helping companies to develop advanced therapeutics, which can be introduced quickly into the market,” says a senior analyst at Technavio.
Global hemoglobinopathies treatment market: Segmentation analysis
This market research report segments the global hemoglobinopathies treatment market by type (sickle cell disease, and thalassemia), and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018 with a market share of over 40%, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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