Global Hemoglobinopathy Market, by Test Type (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), by Indication (Sickle Cell Disease, Beta Thalassemia, Alpha Thalassemia), by End User (Hospitals, Diagnostic Laboratories, Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The key market players in the market are focusing on the adoption of organic growth strategies, such as product approvals to expand their product portfolio, which is expected to drive market growth over the forecast period. For instance, in August 2022, the U.S. Food and Drug Administration (FDA), approved Zynteglo (betibeglogene autotemcel), manufactured by bluebird bio Inc., a biotechnology company, it is the first cell-based gene therapy for the treatment of adult and pediatric patients with beta-thalassemia who require regular red blood cell transfusions.
Global Hemoglobinopathy Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global hemoglobinopathy market. For instance, in October 2021, according to a report published on National Center for Biotechnology Information (NCBI), stated that Vaso-occlusive crisis occurred in 55.6% of sickle cell disease patients with COVID-19 infection. Mortality from COVID-19 infection among patients with hemoglobinopathy was 6.9%.
Global Hemoglobinopathy Market: Key Developments
Increasing launch of clinical studies in order to develop solutions for hemoglobinopathies is expected to aid in the growth of the global hemoglobinopathy market. For instance, in November 2019, CRISPR Therapeutics, a gene editing company, and Vertex Pharmaceuticals Incorporated, a biotechnology company, announced positive, interim data from the first two patients with severe hemoglobinopathies treated with the investigational CRISPR/Cas9 gene-editing therapy CTX001 in Phase 1/2 clinical trials.
Browse 31 Market Data Tables and 27 Figures spread through 170 Pages and in-depth TOC on “Global Hemoglobinopathy Market”- Forecast to 2030, Global Hemoglobinopathy Market, by Test Type (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), by Indication (Sickle Cell Disease, Beta Thalassemia, Alpha Thalassemia), by End User (Hospitals, Diagnostic Laboratories, Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/hemoglobinopathy-treatment-market-2801
Key Takeaways of the Global Hemoglobinopathy Market:
- The global hemoglobinopathy market is expected to exhibit a CAGR of 5..9% during the forecast period due to the increasing prevalence of sickle cell disease. For instance, in May 2022, according to Centers for Disease Control and Prevention (CDC), affects approximately 100,000 U.S. citizens every year.
- Among indication, Beta Thalassemia segment is estimated to hold a dominant position in the global hemoglobinopathy market over the forecast period. For instance, in June 2021, according to a press release by Bristol-Myers Squibb Company, a specialty biopharmaceutical company, about 80-90 million people, or 1.5% of the global population, are carriers of the mutation that causes beta thalassemia.
- Among region, North America is expected to be the dominant region in the global hemoglobinopathy market, owing to increasing prevalence of sickle cell disease, which is expected to drive the segment growth over the forecast period. For instance, in April 2022, according to an article published by Health Union, LLC, a social health company, stated that statistics on sickle cell indicate that 1 in 365 African Americans and 1 in 3,16,000 Hispanic Americans in the U.S. have sickle cell.
- 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.
