Sickle Cell Disease Treatment Market Expected to Reach $1.6 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Sickle Cell Disease Treatment Market," The sickle cell disease treatment market size was valued at $1.1 billion in 2021, and is estimated to reach $1.6 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

When a person inherits two abnormal copies of the β-globin gene (HBB), one from each parent, which produces hemoglobin “S”. This hemoglobin “S” is an abnormal form of hemoglobin causing red cells to become rigid and sickle shape. The most common type of sickle cell disease is known as sickle cell anemia. It results in an abnormality in the oxygen-carrying protein hemoglobin found in red blood cells.

The sickle cell disease treatment market growth driven by increase in prevalence of sickle cell disease, rise in pipeline products, and surge in demand for sickle cell disease drugs. In addition, expansion of R&D pipeline, ongoing medicine approvals, and strong growth potential in unexplored new markets are expected to provide numerous sickle cell disease treatment market opportunity for the market growth during the forecast period. For instance, in November 2019, FDA approved Oxbryta (voxeletor), to treat the sickle cell disease, which is expected to boost the market growth.

Moreover, increase in initiatives taken by government of various countries for promoting access programmes and expanding distribution network for sickle cell disease drugs are some sickle cell disease treatment market trends contribute toward the growth of the market. For instance, Emmaus announced the agreement with Mc Kesson Plasma and Biologics LLC. to expand the distribution network of Endari for sickle cell disease patients.

The outbreak of COVID-19 has resulted in a significant decline in demand for sickle cell disease treatments across several sectors, particularly the health and pharmaceutical sector. Factors such as decline in hospitalizations, ER visits, duration of stay, and decrease in people who receive routine follow-up care from a hematologist restraint the sickle cell disease treatment industry during COVID-19.

The sickle cell disease treatment market size is segmented on the basis of drug type, type, route of administration, and region. By drug type, the market is segmented into hydroxyurea, oxbryta, adakveo and others. The others segment further includes, Endari, pain-relieving medication, and others. The hydroxyurea segment exhibited highest growth in 2021, owing to high adoption of hydroxyurea due to rise in prevalence of sickle cell disease.

On the basis of type, the market is segmented into sickle cell anemia or HbSS, HbSC, and others. The others segment further includes, HbS beta thalassemia, HbSD, HbSE, and HbSO. The sickle cell anemia segment exhibited highest sickle cell disease treatment market share in 2021, and is expected to remain dominant during the forecast period, owing to increase in prevalence of sickle cell anemia. For instance, according to National Library of Medicine (NIH), the annual number of newborns with sickle cell anemia is estimated to exceed 400,000 by 2050.

On the basis of route of administration, the market is segmented into oral and parenteral. The oral segment dominated the market in 2021. This was attributed to advantages associated with oral route, such as more pre-determined doses, convenient to administer drug, and patient self-administration. In addition, oral route is most preferred due to its cost effectiveness and strong patient compliance, which further fuels the segment growth.

North America accounted for the largest sickle cell disease treatment market share of the global sickle cell disease market in 2021, owing to factors such as availability of treatments for sickle cell disease, well-established regulations for approval and distribution of products & services. 

However, Asia-Pacific is expected to fastest CAGR during the sickle cell disease treatment market analysis, owing to increase in cases of sickle cell disease. Moreover, growth in investments for development of advanced treatment for sickle cell disease is the key driving factor that boosts the growth of the market in the region.

KEY FINDINGS OF THE STUDY 
 
• Based on drug type, the hydroxyurea segment held largest share in the global sickle cell disease treatment industry in 2021.
• On the basis of type, the sickle cell anemia segment held largest market share in 2021, and is expected to continue this trend during the forecast period.
• Based on route of administration, oral segment dominated the market in 2021. However, parenteral segment is expected to grow at a CAGR of 4.3% during the forecast period.
• On the basis of region, North America held largest share in the global market in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR of 5.7% during the forecast period.