Thalassemia Market – Overview
The global thalassemia market is projected to grow at a favorable rate from 2021 to 2031 (forecast period). The expanding population, increased need for improved curative gene treatments, and increased awareness of existing treatment choices are the primary aspects expected to drive the worldwide thalassemia market during the forecast period. As per the World Health Organization (WHO), thalassemia affects around 4.4 out of every 10,000 live births worldwide. Moreover, around 5% of the world's population has a polymorphism in the beta or alpha region of the hemoglobin molecule. Furthermore, an increase in the development of pipeline pharmaceuticals and innovative therapeutics, together with research and development, is projected to boost the global thalassemia market.
In addition, rising investments in the healthcare sector are likely to create revenue-generation opportunities in thalassemia market throughout the forecast period.
Thalassemia Market – Competitive Landscape
Leading players in the thalassemia market are Bluebird Bio, Novartis AG, Bellicum Pharmaceuticals, Acceleron Pharma, Inc., ApoPharma Inc, IONIS Pharmaceuticals, SG Pharma Pvt. Lmt, Kiadis Pharma, and Lonza Group Ltd.
Market players are adopting marketing methods such as technological developments, collaborations, acquisitions, investments, and R&D activities to widen their international presence. Moreover, several innovative gene treatments with improved mechanisms of action are now in late-stage studies to meet the significant unmet demand for thalassemia therapy.
Thalassemia Market – Trends and Opportunities
The global thalassemia market is expected to gain from a spike in the number of clinical trials for thalassemia treatment alternatives. Moreover, the increase in thalassemia prevalence and the development of thalassemia pipeline drugs are projected to fuel the thalassemia market growth. Furthermore, factors such as the expanding market for blood transfusion therapy and bone marrow transplant, an uptick in the number of transfusion-dependent patients, and the development of accessible therapeutic solutions for thalassemia are anticipated to boost the global thalassemia market.
In addition, an upsurge in healthcare spending, a rise in demand for improved curative gene therapy, and an increase in expenditure on stem cell therapy research are some of the main factors expected to promote the growth of the thalassemia market during the forecast period.
The hospital segment is projected to witness significant growth in the worldwide thalassemia market during the forecast period. This is mostly due to an increase in hospital admissions for thalassemia therapy. Moreover, the increased incidence of thalassemia is expected to fuel segmental market growth. The labs segment, on the other hand, is likely to experience considerable growth during the projection period due to rising public awareness of thalassemia therapy.
Thalassemia Market – Regional Landscape
The North America thalassemia market is anticipated to develop during the forecast period. The high incidence of thalassemia patients in the area, the existence of prominent players, and the developed healthcare infrastructure are some of the key reasons expected to boost the regional market growth. Moreover, positive government efforts and a rise in the number of research collaborations are likely to fuel market expansion. The United States is projected to be the largest revenue generator in thalassemia market due to increased knowledge of the disorder, a growing number of populations with the thalassemia carrier gene, and an increase in birth rates due to genetic heterogeneity within the population.
The thalassemia market in Asia Pacific is likely to expand during the forecast period. The rising number of thalassemia patients and higher government spending on the healthcare system are the primary factors anticipated to propel the regional market in the upcoming years. Moreover, developing countries such as China and India are expected to contribute to the thalassemia market in Asia Pacific during the forecast period.
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