Haemoglobinopathies Market Report and Forecast 2024-2032

Haemoglobinopathies Market Size

The hemoglobinopathies market was valued at USD 6.9 billion in 2023, driven by the rising incidence of thalassemia and sickle cell anemia across the 8 major markets. The market is expected to grow at a CAGR of 9.7% during the forecast period of 2024-2032, with the values likely to rise from USD 7.5 billion in 2024 to USD 15.9 billion by 2032. 

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Haemoglobinopathies Market Outlook

• Recent data reveals that sickle cell anemia affects approximately 100,000 United States citizens, with a higher prevalence in Black or African American individuals. This rising burden of haemoglobinopathies is expected to fuel the market demand for effective therapies.

• Increased focus on the development of novel treatment options, such as gene therapy, which promises potential cures for genetic conditions like sickle cell disease and thalassemia, is one of the major market trends.

• The market value is influenced by the advancements in genetic testing and screening methods, rising healthcare expenditures, and increased research funding aimed at developing new treatments.

Haemoglobinopathies Market Overview

Hemoglobinopathies are a group of inherited blood disorders, affecting hemoglobin in the red blood cells. They are often caused by genetic mutations that lead to alteration of hemoglobin structure, function, or production. Sickle cell anemia and thalassemia are amongst the most common types of hemoglobinopathies. It is estimated that sickle cell anemia affects approximately 100,000 United States citizens, with a higher prevalence in Black or African American individuals (1 in every 365 individuals). Consequently, the haemoglobinopathies market demand is on the rise to combat the rising incidence of diseases.

The haemoglobinopathies market is witnessing advancements in genetic testing and screening methods that are leading to early diagnosis and better management of these disorders. Increased initiatives from the government as well as non-governmental organizations are another factor supporting the market expansion. Moreover, pharmaceutical and biotechnology companies are increasingly focusing on the development and approval of novel treatment options such as gene therapy to treat sickle cell disease and thalassemia.

Haemoglobinopathies Market Growth Drivers

Increased Focus on Early Haemoglobinopathies Diagnosis to Affect the Market Landscape Significantly

The hemoglobinopathies market share is also poised to elevate with rising emphasis on detecting the condition early. In June 2023, Florida Atlantic University released its latest research on developing a portable tool to diagnose and monitor sickle cell anemia. Based on an electrical impedance sensor, the device can analyze the rate of cell sickling as well as the concentration of sickled cells in the body. It can assist in quality treatment and mitigate the comorbidities associated with the disease. The rising innovation in diagnostic capabilities and treatment monitoring is likely to bolster the market growth.

Rising Advancements in Treatment to Meet Rising Haemoglobinopathies Market Demand

The market growth is driven by advancements in treatment and diagnostics. Innovations and growth in gene therapy activities are some of the major market trends. In December 2023, the United States FDA approved Exa-cel, the first CRISPR treatment for sickle cell disease. Lovo-cel, developed by Bluebird Bio, is another gene therapy accepted by the FDA and will be used to treat sickle cell anemia in patients. The increasing integration of novel technologies to aid impactful treatment alternatives is expected to drive market growth in the coming years.

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Haemoglobinopathies Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Haemoglobinopathies Market Segmentation

Market Breakup by Type

• Thalassemia
  • Alpha Thalassemia
  • Beta Thalassemia
• Sickle Cell Disease

• Others

Market Breakup by Therapy

• Bone Marrow Transplant

• Blood Transfusion

• Iron Chelation Therapy

• Gene Therapy

• Others

Market Breakup by Region

• United States

• EU-4 and the United Kingdom
  • Germany
  • France
  • Italy
  • Spain
  • United Kingdom
• Japan

• India

Haemoglobinopathies Market Share

The Gene Therapy Segment is Poised to Hold Substantial Market Value

The market segmentation by therapy includes bone marrow transplant, blood transfusion, iron chelation therapy, and gene therapy, among others. The gene therapy segment is poised to attain a significant market share in the forecast period owing to its potential to cure haemoglobinopathies by directly addressing the genetic root cause. In contrast, traditional treatments like blood transfusions and iron chelation therapy can only manage symptoms which gives gene therapy a major advantage over other conventional therapies. Pharmaceutical companies and venture capitalists are heavily investing in developing gene therapies which is crucial for sustaining research and development activities necessary to bring these therapies from clinical trials to market.

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Haemoglobinopathies Market Analysis by Region

Based on region, the market report includes the United States, EU-4 (Germany, France, Italy, Spain), and the United Kingdom, Japan, and India. The United States is expected to dominate the market share which can be attributed to the presence of major healthcare providers in the region, undergoing significant collaborations and acquisitions to devise the best treatment solutions. The presence of a favorable regulatory environment, such as the U.S. FDA ensuring accelerated approval of innovative treatments including gene therapies for haemoglobinopathies, further stimulates the market growth in the region. With high investments to improve the healthcare and research infrastructure, countries like India are also poised to experience rapid market growth in the forecast period.

Leading Players in the Haemoglobinopathies Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, and strategic initiatives constituting recent funding and investment, partnerships, and collaborations by the leading players. The major companies in the market are as follows:

Bluebird Bio, Inc.

Headquartered in Massachusetts (United States), Bluebird Bio, Inc., is a pioneering biotechnology company that develops gene therapies for patients suffering from severe genetic disorders. It has designed a gene therapy called LYFGENIA™ for sickle cell disease.

Emmaus Medical, Inc.

California-based Emmaus Medical, Inc. is a biopharmaceutical company and has a prominent presence in the treatment domain of sickle cell disease. ENDARI (L-glutamine oral powder) is one of its leading assets to treat sickle cell disease in patients five years of age and older. The company is actively working on expanding the availability of Endari worldwide and is poised to support the haemoglobinopathies market growth.

Prolong Pharmaceuticals, LLC.

Prolong Pharmaceuticals, LLC, headquartered in New Jersey, United States, is known for developing treatments for blood-related disorders and diseases that involve severe anemias, including haemoglobinopathies. The pharmaceutical company is engaged in the clinical development of its investigational drug products aimed at treating sickle cell disease and other conditions.

Other key players in the market include Novartis AG, Pfizer Inc., Sangamo Therapeutics, Inc., CRISPR Therapeutics AG.

Key Highlights of the Report

Key Questions Answered in the Haemoglobinopathies Market Report

• What was the haemoglobinopathies market value in 2023?
• What is the haemoglobinopathies market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on type?
• What are the major therapies in the market?
• What are the major factors aiding the haemoglobinopathies market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How do the prevalence and incidence of haemoglobinopathies affect the market landscape?
• What are the major haemoglobinopathies market trends?
• Which haemoglobinopathies type will dominate the market share? 
• Which test type is expected to have a high market value in the coming years?
• Which technology type will experience the highest demand in the market segment?
• Which therapy is projected to contribute to the highest market growth?
• Who are the key players involved in the haemoglobinopathies market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers and acquisitions among the key market players shaping the market dynamics?