NEW YORK, Feb. 8, 2022 /PRNewswire/ -- Sickle Cell Disease Treatment Market Facts at a Glance-
NEW YORK, Feb. 8, 2022 /PRNewswire/ -- Sickle Cell Disease Treatment Market Facts at a Glance-
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According to the recent market study by Technavio, the Sickle Cell Disease Treatment Market Share is expected to increase by USD 2.33 billion from 2020 to 2025, at an accelerated CAGR of 11.36%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate of 40% among the other regions. The US is the key market for sickle cell disease treatment. Moreover, market growth in North America will be slower than the growth of the market in Asia.
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Vendor Insights-
The Sickle Cell Disease Treatment Market is fragmented, and the vendors are deploying growth strategies such as entering into strategic alliances to increase their reach in new geographic locations leading to a larger customer base, thereby adding value to the market.
Addmedica SAS - The company offers development and marketing of medical products for rare diseases, serious conditions, and unmet medical needs.
Bristol-Myers Squibb Co. - Operates in a single segment and is engaged in the discovery, development, licensing, manufacturing, marketing, distribution, and sale of innovative medicines for various diseases.
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Regional Market Outlook
The sickle cell treatment market share growth in North America will be significant during the forecast period.
The growing cases of various types of sickle cell diseases and sales of approved therapeutics in the region is driving the sickle cell disease treatment market growth. Additionally, the recent advances in blood transfusion techniques also contribute significantly to the market growth in the region.
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Latest Drivers & Trends Driving the Market-
The high prevalence of sickle cell disease is one of the key factors driving the sickle cell disease treatment market share growth. In recent years, there has been a significant increase in the number of sickle cell disease cases globally. Moreover, the disease is found to be more common in African-Americans, with the frequency being as high as one patient every 365 people. In addition, nearly 300,000 newborns are affected each year out of which 80% is accounted by Africa. Thus, the rising prevalence of sickle cell diseases is estimated to drive the sickle cell disease treatment market growth during the forecast period.
The high treatment cost is one of the major challenges for the sickle cell disease treatment market growth. Drugs such Siklos, Endari, and DROXIA have been launched recently and have seen market acceptance of therapeutic solutions but are very costly. However, the curative nature of blood transfusion makes it the most preferred option for treatment. In addition, hospital stay also is included for the procedure of such treatments which is an additional cost factor in it. Furthermore, the gene therapy programs which are being developed are also anticipated to be priced high resulting in posing a challenge for the market during the forecast period.
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Sickle Cell Disease Treatment Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.36% |
Market growth 2021-2025 |
$ 2.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.83 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Addmedica SAS, Bristol-Myers Squibb Co., Chiesi Pharmaceuticals BV, CRISPR Therapeutics AG, Emmaus Life Sciences Inc., Global Blood Therapeutics Inc., GlycoMimetics Inc., Medunik USA, Novartis AG, and Pfizer Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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