NORTH AMERICA SICKLE CELL DISEASE MARKET ANALYSIS

Market Challenges And Opportunities

Research on rare diseases is a never-ending topic among researchers, and it is continuously growing as investors show interest in funding new studies and advancements in treatment options. For instance, the prevalence of sickle cell disease is keeping on increasing due to factors such as lack of access to healthcare and genetic predisposition in certain populations. The North America market for the treatment for sickle cell disease is expected to grow significantly over the forecast period.

North America Sickle Cell Disease Market– Drivers

• Granting designation by the U.S. Food and Drug Administration: The designation helps for faster approval by regulatory authorities, as it shows trust and the importance of the drug for sickle cell disease. It also provides eligibility for certain incentives and benefits. For instance, on April 27, 2023, Editas Medicine, Inc., a clinical stage genome editing company, announced that the U.S. Food and Drug Administration (FDA) granted Orphan Drug Designation to EDIT-301, an investigational gene editing medicine, for the treatment of sickle cell disease. The U.S. FDA previously granted Orphan Drug Designation to EDIT-301 for the treatment of beta thalassemia and Rare Pediatric Disease designation to EDIT-301 for the treatment of beta thalassemia and sickle cell disease.

North America Sickle Cell Disease Market - Restraint

• High cost of treatment: CRISPR gene editing has made it possible to cure sickle cell disease, which affects millions worldwide, but most people with the condition won\'t be able to afford the cost of the treatment. Due to CRISPR gene editing, millions of individuals may now be cured of sickle cell disease, a terrible congenital blood illness, but the cost of therapy is so costly that not many people will likely receive it in the near future. The high cost of treatment is a significant barrier to widespread accessibility and availability. This creates a stark inequality in healthcare, as those who can afford the treatment will have the opportunity to live a healthier life, while those who cannot will continue to suffer from the debilitating effects of sickle cell disease. The development of more affordable options or financial assistance programs is crucial in order to ensure equal access to this life-saving treatment for all individuals affected by sickle cell disease. As a result, the companies operating in this market are now focusing on the development of cost-effective and reliable treatment methods for patients with sickle cell disease.

North America Sickle Cell Disease Market - Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has 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, faced problems with the transportation of things from one place to another.
• However, the COVID-19 pandemic had a negative impact on the North America sickle cell disease market, owing to a reduction in bed and operating room capacity, which further led to considerable delays in treatment for sickle cell disease.