Latin America Hemoglobinopathies Market Report and Forecast 2024-2032

Latin America Hemoglobinopathies Market Size

The global hemoglobinopathies market valued at USD 6.9 billion in 2023, with Latin America holding a significant market share. It is expected to grow at a CAGR of 9.7% during the forecast period of 2024-2032. The market is poised to secure a market value of USD 7.5 billion by 2032, driven by the rising incidence of thalassemia and sickle cell anemia across the region.

Latin America Hemoglobinopathies Market Outlook

• The rising incidence of sickle cell disease (SCD) and thalassemia, which are amongst the most prevalent hemoglobinopathies boosting the market demand in Latin American region.

• In November 2023, the IAEA trained over 30 Latin American and Caribbean health experts in blood irradiation, enhancing regional safety, standardization, and collaboration in medical practices. Such initiatives to drive awareness amongst healthcare providers is one of the significant Latin America hemoglobinopathies market trends.

• In December 2023, University of Maryland School of Medicine researchers discussed new sickle cell disease treatments at a symposium in Rio De Janeiro, Brazil, addressing the disease affecting 20 million globally. The establishment of such events underscores the emphasis on managing and treating hemoglobinopathies effectively.

Latin America Hemoglobinopathies Market Analysis

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. Sickle cell disease (SCD) is a group of hereditary chronic diseases that has significantly reduced the quality of life. The prevalence of HbS, (sickle hemoglobin) is quite common in Colombia, predominantly affecting males. The ancestry has influenced the distribution of hemoglobinopathies in different geographical regions of Colombia, driving the increasing number of cases in the market. Thalassemia is one of the common hemoglobinopathies as well.

The Latin America hemoglobinopathies market growth is expected to be driven by the increasing focus of researchers on developing effective treatments for hemoglobinopathies such as thalassemia and sickle cell disease. Researchers are more inclined toward finding and delivering the best technique, technology, and treatment for the management of chronic disease, propelling the market demand. For instance, in December 2023, University of Maryland School of Medicine (UMSOM) dean joined prominent scientists and government health officials at a symposium in Rio De Janeiro, Brazil, to discuss new treatments for sickle cell disease (SCD). The symposium highlighted the developments undergoing in a randomized multicenter clinical trial for Sickle Cell Disease and CardiovAscular Risk-Red Cell Exchange Trial (SCD-CARRE), conducted across 22 sites in Brazil, France, and the United States. Such events are projected to boost the Latin America hemoglobinopathies market share as conducting it among the diverse population of Brazil will not only make the trial challenging but rather contribute to increased efficiency and accuracy, helpful in becoming a standard treatment option. 

The market is poised to be driven by the strategic initiatives of organisations to train health practitioners on safe blood irradiation practices. For instance, in November 2023, the International Atomic Energy Agency (IAEA) organized a regional training course on the safe delivery of blood irradiation services for health practitioners in Latin America and the Caribbean. 30+ experts from domains such as hematology, biochemistry, physics, quality assurance, and radiation technology were gathered to update and share their knowledge, and best practices, and learn from each other’s experiences. The emphasis on delivering immediate and quality care to the patients is one of the major Latin America hemoglobinopathies market trends expected to boost the market value positively in the forecast period.

Patients suffering from hemoglobinopathies like thalassemia and sickle cell disease require frequent blood transfusions. This training ensures that health practitioners are well-trained in delivering safer blood transfusions. Improved safety and efficacy of transfusions directly enhance patient outcomes and could lead to increased trust and reliance on transfusion services. This is likely to impact the market positively by improving the quality of care and increasing awareness about the necessary measures required to be taken during the process.

Latin America Hemoglobinopathies Market Segmentation

The market report offers a detailed analysis of the market based on the following segments:

Latin America Hemoglobinopathies Market: Competitor Landscape

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

• Abbott

• Alnylam Pharmaceuticals, Inc.

• Biogen

• Bristol-Myers Squibb Company

• Danaher

• Emmaus Medical, Inc.

• F. Hoffmann-La Roche Ltd

• Gamida Cell

• Global Blood Therapeutics, Inc.

• Novartis

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Latin America Hemoglobinopathies  Market Report Snapshots

Latin America Hemoglobinopathies Market Size

Latin America Hemoglobinopathies Market Companies