HEMOGLOBINOPATHY MARKET ANALYSIS

The global hemoglobinopathy market is estimated to be valued at US$ 636.9 million in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).

Analysts’ Views on Global Hemoglobinopathy Market:

Increasing government initiatives is expected to drive the global hemoglobinopathy market over the forecast period. For instance, in August 2020, a Thalassemia Screening and Counselling Centre was launched at Indian Red Cross Society’s National Headquarters Blood Bank, to administer adequate therapy to those affected enabling them lead a better life and preventing the birth of children affected with hemoglobinopathies, through carrier screening, genetic counselling and prenatal diagnosis.

Figure 1. Global Hemoglobinopathy Market Share (%), by Indication, 2023

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Global Hemoglobinopathy Market – Driver

Increasing awareness programs for sickle cell disease

Increasing awareness programs by government bodies is expected to drive the hemoglobinopathy market over the forecast period. For instance, in November 2020, The European Hematology Association (EHA) Topics-in-Focus Hemoglobinopathies Program  (focus on Sickle Cell Disease) was launched to expand awareness and education about these increasingly common genetic diseases in Europe, among healthcare professionals, patients and the general population.

Figure 2. Global Hemoglobinopathy Market Value (US$ Million), by Region, 2023

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Global Hemoglobinopathy Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global hemoglobinopathy market over the forecast period. North America holds 45.1% of the market share due to the increasing prevalence of Beta Thalassemia in the region. For instance, in December 2020, according to a report published on National Center for Biotechnology Information (NCBI), stated that in the U.S., the prevalence of beta thalassemia has increased approximately 7.5% over the last 50 years.

Global Hemoglobinopathy Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 pandemic had a negative impact on the global hemoglobinopathy market. For instance, in November 2022, according to a report published by National Center for Biotechnology Information (NCBI), stated that there was a shortage of bone marrow donations globally, due to COVID-19.

Global Hemoglobinopathy Market Segmentation:

The global hemoglobinopathy market report is segmented into Test Type, Indication, End User and Region

Based on Test Type, the market is segmented into Routine Red Blood Cell (RBC) count, Genetic Testing, Hemoglobin by high performance liquid chromatography, Hemoglobin isoelectric focusing ( Hb IEF), Hemoglobin electrophoresis (Hb ELP), Hemoglobin solubility test. Out of which, the Routine Red Blood Cell (RBC) count segment is expected to dominate the hemoglobinopathy market during the forecast period and this is due to the increase in the usage of Routine Red Blood Cell (RBC) count for the hemoglobinopathy testing.

Based on Indication, the hemoglobinopathy market is segmented into sickle cell disease, beta thalassemia, alpha thalassemia. Beta Thalassemia segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of sickle cell disease.

Based on End User, the market is segmented into hospitals, diagnostic laboratories, clinics. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to the increase in the number of new hospitals for the management of sickle cell disease over the forecast period.

Among all segmentation, indication segment has the highest potential due to the increasing prevalence of beta-thalassemia. For instance, in June 2021, according to the data published by bluebird bio, Inc., a biotechnology company, stated that about 1.5% of the global population (80-90 million people) are carriers of beta-thalassemia.

Global Hemoglobinopathy Market Cross Sectional Analysis:

In indication segment, beta-thalassemia hold a dominant segment in North America region due to the increasing prevalence of beta-thalassemia. For instance, on April 4 2023, according to Centers for Disease Control and Prevention (CDC), stated that beta-thalassemia, affects at least 1000 people in the U.S.

Global Hemoglobinopathy Market: Key Developments

• The key players in the market are focusing on growth strategies such as acquisition to enhance their product portfolio, which is expected to drive the global hemoglobinopathy market growth over the forecast period.
• For instance, in September 2022, Novo Nordisk A/S, a global healthcare company, and Forma Therapeutics, Holdings Inc., a biotech company, announced that they have entered into a definitive agreement, under which Novo Nordisk will acquire Forma Therapeutics, Holdings Inc. The acquisition of Forma Therapeutics, Holdings Inc., including its lead development candidate, etavopivat, is aligned with Novo Nordisk A/S’s strategy to complement and accelerate its scientific presence and pipeline in haemoglobinopathies.
• On April 12 2023, ECHO India, a non-profit organization committed to strengthening healthcare capacity in India, has teamed up with the Post Graduate Institute of Child Health (PGICH) Noida, to launch a nationwide program focused on the Prevention and Control of Beta Thalassemia and Other Hemoglobinopathies.
• In June 2020, CRISPR Therapeutics, a gene editing company, and Vertex Pharmaceuticals Incorporated a biotechnology company, announced new clinical data for CTX001, an investigational CRISPR/Cas9 gene-editing therapy, from the CLIMB-111 and CLIMB-121 Phase 1/2 trials in transfusion-dependent beta thalassemia (TDT) and severe sickle cell disease (SCD), and highlighted recent progress in the CTX001 development program.
• In June 2022, Fulcrum Therapeutics, a clinical stage biopharmaceutical company, announced clinical proof-of-concept data from the ongoing Phase 1b trial of FTX-6058 for the treatment of sickle cell disease (SCD).

Global Hemoglobinopathy Market: Key Trends

Increasing government initiatives  for the management and treatment of hemoglobinopathy

Increasing government initiatives for the management and treatment of hemoglobinopathy, which is expected to drive the hemoglobinopathy market growth over the forecast period. For instance, on February 1 2023, the Government of India announced to launch a mission to eliminate sickle cell anemia by 2047 in the union budget of FY 2023-24.

Global Hemoglobinopathy Market: Restraint

Failing clinical trials for the treatment of sickle cell anemia

The global hemoglobinopathy market can be hindered by failing of clinical trials for the treatment of sickle cell anemia. For instance, in April 2022, Imara Inc., a clinical-stage biopharmaceutical company, announced that an Imara drug that hits a novel target to treat rare, inherited hemoglobin disorders has failed two mid-stage studies, one for sickle cell disease and the other for beta thalassemia.

Global Hemoglobinopathy Market - Key Players

Major players operating in the global hemoglobinopathy market include Anamol Laboratories Pvt. Ltd., Bio-Rad Laboratories, Inc., PerkinElmer Inc., Zentech, Sebia, Sysmex Europe SE, Nanjing Poclight Biotechnology Co., Ltd, Abbott, Danaher, ReachBio LLC, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Nexcelom Bioscience LLC., NIHON KOHDEN CORPORATION, Siemens Healthcare GmbH, CRISPR Therapeutics.

*Definition: The hemoglobinopathies are a group of disorders passed down through families (inherited) in which there is abnormal production or structure of the hemoglobin molecule. Sickle cell disease (SCD) is one such blood disorder caused by the abnormal hemoglobin that damages and deforms red blood cells.