San Francisco, 09 Nov 2018 – According to a report published by Grand View Research, Inc.; the thalassemia market is expected to reach a valuation of around USD 3.53 billion by 2022.
Factors such as high prevalence of the disease, increasing awareness regarding the disease, and technological developments can propel the market during the forecast period (2016 to 2022).
High demand for universal cure of the disease is expected to boost the market growth in the coming years. This disease is a group of inheritable blood disorders, in which the body produces abnormal hemoglobin that leads to destruction of red blood cells and finally resulted into anemia. About one in every 100,000 individuals in the global population shows indications of this disease. There are two main types of this diseases such as alpha-thalassemia and beta-thalassemia. The beta-thalassemia is considered as more serious and common autosomal recessive disorder worldwide and it is comparatively rare in the U.S. According to the Thalassemia International Federation, about 7.0% of worldwide population suffers with diseases and conditions associated with hemoglobin, out of which approximately 70.0% have sickle cell anemia and the remaining develop thalassemia or other blood ailments. About 2.1% of the population around the world are suffered from several form of thalassemia. This disorder found in about 4.4 in every 10,000 live births across the world. Regardless of technological advancements, the need for reliable treatment option is still exist in the market as medications prescribed for the disease cures only symptoms such as anemia, vitamin deficiency, and iron overload. This is likely to create many opportunities in the market to develop a universal curative treatment for the disease.
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Worldwide thalassemia market can be segmented on the basis of therapeutic class, pipeline, and region. The therapeutic class segment includes iron chelating drugs. At present, blood transfusion and iron chelation therapies are the only treatment options available in the market. However, the therapeutics segment is likely to display strong commercial opportunities, if drugs which are under phase II/III clinical pipeline obtain approvals from regulatory authorities. The pipeline segment includes gene therapy. This therapy is considered as the most hopeful therapy among several other developing curative therapies along with some other genomic products which are in late-stage trials. At present, there are about 15 pipeline products are under clinical trials. Most of these are based on gene therapy and emphasis on providing a cure for the illness.
Geographically, the market can be divided into the U.S., the U.K., France, Germany, Italy, Spain, and Japan.
Occurrence of the disease is likely to increase gradually across the regions. This expansion can be associated with population relocation, intermarriages, and genetic and environmental factors.
Rising awareness regarding available treatment methods and launch of new treatment methods are expected to drive the market in developed regions like Europe and North America.
In 2016, The EU5 (the U.K., France, Germany, Italy, and Spain) countries estimated for the largest market share of a 38.0%. followed by the U.S. and Japan. The U.S. and Europe are expected to grow on account of introduction of gene therapy.
The U.S. is likely to show rapid growth with a lucrative CAGR during the forecast period due to rise in occurrence of the disease and availability of well-established healthcare infrastructure and services. In the U.S., the disease is rare, which affects less than 20,000 people. The disease is also mostly prevalent in coastal regions of Turkey, Greece, major Mediterranean islands such as Cyprus, and some parts of Italy. Moreover, the disease is also common in the Mediterranean region, Africa, Middle East, Central Asia, the Indian subcontinent, and the Far East and Asian countries such as Maldives and India. Large youth population in developing countries such as India and Pakistan are expected to provide more opportunities in the market. Countries such as India and Thailand are expected to provide lucrative growth opportunities in the coming years.
Prominent companies operating in the market include Acceleron Pharma, Inc.; bluebird bio, Inc.; GlaxoSmithKline plc; Kiadis Pharma; and Incyte Corporation.
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Grand View Research has segmented the global thalassemia market based on therapeutic class, pipeline, and region:
Thalassemia Therapeutic Class Outlook (Revenue, USD Million, 2016 – 2022)
- Iron Chelating Drugs
- Exjade/Jadenu (deferasirox)
Pipeline Outlook (Revenue, USD Million, 2016 – 2022)
- Gene Therapy
Regional Outlook (Revenue, USD Million, 2016 – 2022)
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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