Pune, India, Jan. 20, 2021 (GLOBE NEWSWIRE) -- The global sickle cell disease treatment market size is expected to reach USD 7.71 billion in 2027, exhibiting a CAGR of 18.5% during the forecast period. The unmet needs of patients and lack of novel therapies has resulted in research grants from governments, which, in turn, will promote the growth of the market, states Fortune Business Insights, in a report, titled “Sickle Cell Disease Treatment Market Size, Share & Covid-19 Impact Analysis, By Treatment Modality (Bone Marrow Transplant, Blood Transfusion, Pharmacotherapy (Hydroxyurea and Branded Drugs (Endari, Adakveo, Oxbryta, Zynteglo, CTX001, Mitapivat, and FT-4202))), By End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 1.35 billion in 2019.
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The sickle cell disease treatment market highpoints a comprehensive study of the market. It also offers essential facts about prominent players, besides revealing data about central regions in the market. The report includes key drivers and trends prevailing in the industry. Significant development, along with COVID’s impact, is covered in the study.
FDA Product Approval to Intensify Business
The introduction of innovative drugs and therapies to treat sickle cell diseases can spur lucrative opportunities for the market. For instance, in 2017, FDA approved Emmaus Life Sciences product Endari to treat patients with sickle cell disease aged five years and older. Moreover, the approval of three products by the regulatory bodies such as the FDA and EMA will foster the market's healthy growth. For instance, Oxbryta (Global Blood Therapeutics), Adakveo (Novartis AG), and Endari (Emmaus Life Sciences) are being utilized in the treatment of the disease. Oxbryta has been approved ahead of its statutory deadline. Moreover, products such as Zynteglo, CTX001, Mitapivat, and FT-4202 are expected to receive approval in the forthcoming years, which, in turn, will enable speedy expansion of the market. For instance, CTX001 has been granted EMA’s priority medicines (PRIME) designation in Europe.
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Postponement of Surgeries to Diminish Product Demand Amid Coronavirus
Delay in non-urgent surgeries has resulted in a major drop in the number of BMT and blood transfusion procedures. The pandemic severely affected the demand and blood donor base. Moreover, lockdown and travel restrictions have led to a decline in the number of donors and the cancellation of numerous blood drives worldwide. For instance, U.S. blood centers witnessed a 30% decline in blood drives scheduled for the rest of the year, leading to about 250,000 missed donations. Furthermore, according to American Red Cross Blood Services, more than 50,000 blood drives have been canceled or moved due to the pandemic. These aforementioned factors reveal the enormous loss encountered by the sickle cell disease treatment industry during the coronavirus.
Novartis AG to Dominate the Market
Novartis AG accounted for the maximum share in the global market. The company entered the market with the approval of Adakveo in 2019. The drug can reduce the sickle cell pain crises by 45% in the clinical trials and hence is. Therefore, increasing demand for Adakveo among patients is expected to reinforce the company’s position.
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Strong Government Support to Support Growth in the U.S.
The U.S market size stood at USD 0.71 billion in 2019 and is expected to remain dominant during the forecast period. The growth in the region is attributed to improving access to SCD treatment and potential pipeline candidates. The strong government support in the U.S. will further foster the healthy development of the market. According to the Center for International Blood and Marrow Transplant Research, in 2017, 157 hematopoietic cell transplants were performed in 2017 in the U.S for SCD. The number of BMT increased by 35.3% during 2013-2017. These factors together are expected to favor growth in the region.
September 2020: Global Blood Therapeutics, Inc. signed an exclusive agreement with Biopharma-MEA to distribute Oxbryta in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The Report Lists the Key Players in the Sickle Cell Disease Treatment Market:
- Novartis AG (Basel, Switzerland)
- Global Blood Therapeutics Inc. (California, U.S.)
- Emmaus Medical Inc. (California, U.S.)
- Addmedica (Paris, France)
- Medunik USA Inc. (Pennsylvania, U.S.)
- Bristol-Myers Squibb Company (New York City, U.S.)
- Other prominent players
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Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of Sickle Cell Disease Treatment Services
- Reimbursement Scenario – For Key Countries/ Regions
- Overview of Sickle Cell Disease Treatment Policies – For Key Countries
- Technological Advancements in Sickle Cell Disease Treatment
- State of Telehealth Adoption – For Key Countries/ Regions
- Major Sickle Cell Disease Treatment Service Providers – For Key Countries
- Internet Users & Penetrations Statistics
- Growth in Usage of Telehealth Technology Among Physicians
- Key Industry Developments - Mergers, Acquisitions and Partnerships
- Impact of COVID-19 on Sickle Cell Disease Treatment Market
- Global Sickle Cell Disease Treatment Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Treatment Modality
- Bone Marrow Transplant
- Blood Transfusion
- Branded Drugs
- Market Analysis, Insights and Forecast – By End User
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Geography
- Rest of World
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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