Sickle Cell Disease Drugs Market size was over USD 2.71 billion in 2023 and is poised to cross USD 18.45 billion by 2036, growing at more than 15.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of sickle cell disease drugs is evaluated at USD 3.05 billion.
The growth of the market can be attributed to the growing cases of various sickle cell diseases, such as, sickle cell anemia, and sickle hemoglobin- C, among others. The cause of this disease is the deletion of certain chromosomes in the genes, which causes the red blood cells (RBC) to elongate and get a sickle-like shape. Treatment of the disease majorly aims at curing symptoms, including, pain crisis, swelling in hands and legs, dizziness, and shortage of oxygen. This raises the scope for R&D activities for developing novel drugs and treatment methods for this disease, which is estimated to boost the growth of the market.
Growth Drivers
Challenges
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
15.9% |
|
Base Year Market Size (2023) |
USD 2.71 billion |
|
Forecast Year Market Size (2036) |
USD 18.45 billion |
|
Regional Scope |
|
The market is segmented by treatment type into blood transfusion, stem cell transplant, and pharmacotherapy, out of which, the stem cell transplant segment is anticipated to hold the largest share in the market during the forecast period as stem cell transplant is the only treatment method that can permanently treat sickle cell disease. This is estimated to increase the demand for stem cell transplant among the patients. Based on end-user, the market is segmented into hospitals, home care, specialty clinics, and others out of which hospital segment is anticipated to hold the largest market share throughout the forecast period owing to the increasing patient pool of sickle cell disease and new advancements in the treatment technology.
Our in-depth analysis of the global market includes the following segments:
|
Treatment Type |
|
|
Disease Type |
|
|
End-User |
|
Regionally, sickle cell disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is anticipated to account for largest revenue share by 2036, on the back of advanced medical facilities, and research and development activities. Moreover, the increasing government investment in healthcare sector and favorable reimbursement policies is estimated to boost the regional market growth. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America. As pr another report by WHO, the per capita healthcare expenditure of North America valued USD 10,050.279, in the same year. The market in the Asia Pacific is estimated to witness notable growth accounting to the increasing population and prevalence of sickle cell disease in the region. Furthermore, constant development in the public healthcare system, along with the economic development in the APAC region also tends to positively influence the market growth.
· April 20, 2021: Bluebird Bio, Inc. announced the updated status of its undertrial drug LentiGlobin for sickle cell disease, which is in its Phase 1/2 study.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?