Sickle Cell Anemia Therapeutics Market: Introduction
Drastic reduction in total number of RBC count is called as anemia, which can be defined as the incapability to transport optimum oxygen by various blood cells. This disease inherits various types of genetical blood disorders. Most common type of sickle cell disease is the sickle cell anemia. This disorder gives rise to a specific hemoglobin irregularity, particularly in the protein which transfers oxygen in the blood. This health disorder might lead to several health problems including microbial infections, pain attacks are known as sickle cell crisis, swelling in the limbs, and in most cases, it may cause a stroke.
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According to the WHO, nearly 5% of the global population can get affected by the sickle cell anemia disease. In some regions, this percentage is nearer to 25%. WHO estimates derived that the sickle cell disease occurrences can be highest in the Africa region. In order to meet this high disease prevalence, WHO has taken several initiatives to reduce these incidences. Moreover, according to PLOS Medicine, occurrences of sickle cell anemia disease will likely rise by 30% by the end of 2050, particularly in sub-Saharan Africa. Due to these factors, there will be a significant rise in demand for treatment, which will eventually drive the global sickle cell anemia therapeutics market over the forecast period.
Moreover, there are several new technologies, which are under development for treating this disease, such as gene therapy, bone marrow transplantation, which will further open new opportunity ventures for the growth of global sickle cell anemia therapeutics market over the projected period.
Lack of treatment facilities, coupled with under-developed health care infrastructure in the Africa region might show a negative impact on the growth of global sickle cell anemia therapeutics market over the projected period.
Based on medication, the global sickle cell anemia therapeutics market has been segmented into pain-relieving medications, hydroxyurea, anti-biotics, chronic cell transfusion, stem cell transplantation, and other medications such as antimetabolites, analgesics, vaccines, and folic acids. Hydroxyurea will witness high preference for the treatment of sickle cell anemia, owing to the drug’s safety, coupled with lower treatment costs.
North America sickle cell anemia therapeutics market is expected to dominate the global market over the projected period. According to the Centers for Disease Control and Prevention, more than 100,000 people in the U.S. alone were affected by this disease in 2016. Rise in disease incidences among the Americans, will significantly drive the demand for prevention and cure of sickle cell anemia disorder, which will further fuel the regional market growth over the projected period.
Africa sickle cell anemia therapeutics market is anticipated to hold the prime market share over the forecast period, owing to the increasing number of sickle cell diseases cases in the African region. Asia Pacific sickle cell anemia therapeutics market is expected to be driven by the adoption of new healthcare techniques for the treatment of this disease. Moreover, growing awareness among the population of India and China about this disease will further create a large opportunity venture for the key market players in the Asia Pacific.
Some of the prominent players in the global sickle cell anemia therapeutics market include Baxter, Bristol-Myers Squibb, Modus Therapeutics AB, Bluebird Bio, Daiichi Sankyo, GlycoMimetics, Eli Lilly and Company, HemaQuest Pharmaceuticals, Emmaus Medical, Merck Sharp & Dohme, Mast Therapeutics, Selexys Pharmaceuticals, and Pfizer among several others.
To improve the treatment facilities, various key players are providing their support to other players in the form of investments. For instance, in July 2018, HealthCap invested US$ 6.63 million in Modus Therapeutics AB. This investment will help Modus Therapeutics AB to complete their phase 2 trials with sevuparin among patients suffering from sickle cell disease.
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