Sickle Cell Disease Treatment Market Worth $5.5 Billion by 2023: Grand View Research, Inc.
The global sickle cell disease treatment market size is expected to reach USD 5.5 billion by 2023, according to a new report by Grand View Research, Inc., exhibiting a 14.3% CAGR during the forecast period. Several factors such as increase in investments for R&D, growing target population, and favorable government initiatives are anticipated to drive the market.
Currently available treatments for sickle cell disease (SCD) usually provide symptomatic relief and palliative care. These treatment methods generally include blood transfusions, bone marrow transplant, and pharmacotherapy. Although bone marrow transplant is the only potentially curative treatment, it is recommended only to a small percentage of patients. The market has only two approved products—hydroxyurea and Endari.
High unmet medical needs, strong pipeline, and growing patient pool are key factors expected to influence market growth. In recent years, demand for cost-effective drugs and gene therapies for SCD has increased owing to unavailability of a permanent cure and risks associated with bone marrow transplant.
Expected launch of late-stage pipeline drugs such as voxelotor, crizanlizumab, Altemia, and rivipansel is projected to drive the sickle cell disease market during the forecast period. Healthcare initiatives undertaken by respective economies are crucial for curbing the financial burden of the disease as well as for increasing access to healthcare facilities and providing various services for early diagnosis, subsequent treatment, and palliative care.
Access Full Research Report On Sickle Cell Disease Treatment Market Analysis:
www.grandviewresearch.com/industry-analysis/sickle-cell-disease-treatment-market
Further key findings from the report suggest:
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Currently, 20 to 25 million people worldwide are reportedly living with sickle cell disease and about 300,000 infants are born annually with the disease
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U.S. dominated the global market and is projected to maintain its position through 2023, owing to rise in incidence of diseases and launch of promising pipeline candidates
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Among treatments, blood transfusion held the largest share in 2017, followed by pharmacotherapy. However, it is anticipated that pharmacotherapy will lead the market by 2023, supported by a strong pipeline and several promising drug launches
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Emmaus Medical, Global Blood Therapeutics, bluebird bio, Pfizer, and Novartis are some of the key players operating in this market
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Emmaus Medical is projected to dominate the SCD pharmaceutical market in 2023, supported by strong sales of Endari
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Currently, 37 pipeline drugs are in various clinical development stages and significant sales contribution is expected from promising candidates such as voxelotor (Global Blood Therapeutics), crizanlizumab (Novartis), Altemia (Sancilio), and rivipansel (Pfizer).
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Grand View Research has segmented the global sickle cell disease treatment market based on treatment and country:
Sickle Cell Disease Treatment Outlook (Revenue, USD Million, 2017 – 2023)
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Blood Transfusion
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Pharmacotherapy
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Bone Marrow Transplant
Sickle Cell Disease Country Outlook (Revenue, USD Million, 2017 – 2023)
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U.S.
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U.K.
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Germany
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Spain
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France
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Italy
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Japan
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
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