A key driver for the global sickle cell disease treatment market is the high prevalence of sickle cell disease. The number of cases of sickle cell disease has increased significantly in recent years. However, the market has observed a decrease in the mortality rate during recent years owing to advances in treatment methods such as blood transfusion and bone marrow transplant. The strong prevalence of the disease is expected to attract more vendors as the market growth potential is projected to exceed USD 5 billion over the next five years.
As per Technavio, the advent of regenerative therapy will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sickle cell disease 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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Global sickle cell disease treatment market: Advent of regenerative therapy
In recent years, the global sickle cell disease treatment market has witnessed significant advances in terms of therapeutics with the advent of regenerative medicines. The research on regenerative therapies such as gene therapy to treat sickle cell diseases is highly promising. Hence, many pharmaceutical vendors are researching these therapies. These advances in research will contribute significantly to the market growth.
“Currently, blood transfusion and hematopoietic stem cells are the only curative option for sickle cell disease and the complicated and painful process of these methods poses a major challenge to adoption. Gene therapy could help in overcoming the painful procedure as it is known to be highly effective to treat various indications. There are ten gene therapy programs that are being studied for sickle cell disease. Therefore, the strong pipeline for sickle cell diseases indicates significant potential for growth over the forecast period,” says a senior research analyst at Technavio.
Global sickle cell disease treatment market: Segmentation analysis
This sickle cell disease treatment market analysis report segments the market by indication (sickle cell anemia, sickle beta thalassemia, and others) and geography (Asia, Europe, North America, and ROW).
The sickle cell anemia segment held the largest sickle cell disease treatment market share in 2018, accounting for more than 58% of the market. This indication segment is expected to dominate the global market throughout the forecast period.
North America led the market in 2018, followed by Europe and Asia, respectively. North America is expected to dominate the market throughout the period 2019-2023.
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Five Forces Analysis
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- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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