Thalassemia Market

Thalassemia Market Research, 2031

The global thalassemia market size was valued at $2,580.64 million in 2021, and is projected to reach $4,205.95 million by 2031, growing at a CAGR of 5% from 2022 to 2031. Thalassemia is an inherited blood disorder characterized by less oxygen-carrying protein (haemoglobin) and fewer red blood cells in the body than normal. Haemoglobin is made up of two parts alpha & beta globin. So, thalassemia is of two types: alpha and beta depending upon which part of haemoglobin isn’t made. Thalassemia is caused by mutations in the DNA of cells that make haemoglobin. The mutations associated with thalassemia are passed from parents to children. The two factors which increase the risk of thalassemia are: Family history of thalassemia - thalassemia is passed from parents to children through mutated haemoglobin genes and certain ancestry where malaria is prevalent - thalassemia occurs most often in African Americans and in people of Mediterranean and Southeast Asian descent.

The thalassemia market experienced a decline in 2021 due to global economic recession led by COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain of thalassemia drugs across various end-user industries like hospitals and pharmacies. However, the market is anticipated to witness recovery in 2021, and show stable growth for thalassemia market in the coming future. This is attributed to the increase in adoption of various screening techniques during pregnancy for genetic abnormalities and proper counselling regarding thalassemia to drive the market growth.

“The thalassemia market was hampered during the lockdown period owning to decline in sales of iron chelation agents and gene therapy. The various clinical studies for gene therapy and stem cell therapy were slowed down which would delay the approval from regulatory authorities.”

Historical Overview

The market was analyzed qualitatively and quantitatively from 2021-2031. The thalassemia market grew at a highest CAGR during 2021-2031. Most of the growth during this period was derived from the Asia-Pacific owing to the owing to factors such as effective distribution network for thalassemia drugs, awareness regarding thalassemia and gene therapy in the region.   

Market Dynamics

Growth & innovations in the pharmaceutical industry for the manufacturing of thalassemia drugs owing to massive pool of health-conscious consumers, creates an opportunity for the thalassemia market. Rise in launch of various curative therapies for beta- thalassemia, rise in new gene therapies for specific type of thalassemia by various key players across the globe is set to affect the market growth positively. For instance, in January 2020, bluebirdbio announces launch of ZYNTEGLO gene therapy for patients 12 years and older with transfusion-dependent beta-thalassemia. The growth of the thalassemia market is expected to be driven by emerging markets, due to availability of improved healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of thalassemia cases in neonatal, and surge in demand for stem cell therapy.

Furthermore, the healthcare industry in emerging economies is developing at a significant rate, owing to rise in demand for enhanced healthcare services, significant investments by government to improve healthcare infrastructure, and development of the medical tourism industry in emerging countries. In addition, proper screening of new born for thalassemia along with proper treatment regime drives the growth of thalassemia market size. Various organizations along with government are counselling people regarding the thalassemia. E-commerce (electronic commerce) has become a vital tool for small and large businesses globally, due to rise in preference of consumers for online shopping over traditional purchasing methods.

Various animations through health apps to educate people regarding thalassemia has contributed to growth of this market.  The demand for stem cell and gene therapy is not only limited to developed countries but is also being witnessed in the developing countries, such as China, Brazil, and India, which fuel the growth of the market. Factors such as rise in adoption of health supplements like folic acid, and increase in awareness toward use of hydroxyurea, further drive the growth of the market.  Moreover, increase in promotional activities by manufacturers and growth in awareness for proper treatment medications for thalassemia among the general population are expected to fuel their adoption in the near future.

This, high cost of gene therapy owing to their specialized raw material and manufacturing processes is anticipated to hamper the growth of the thalassemia market share. In addition, various side effects associated with therapies decrease the use. In contrast, increase in advancements for developing gene therapy for specific type of thalassemia provide lucrative opportunities to the market players. Furthermore, various Acquistion are done to develop innovative formulations with minimum side effects. For instance, first ex-vivo treatment co-developed by CRISPR Therapeutics and partner Vertex is in phase 3 clinical trial which fuels growth of the thalassemia industry.

The outbreak of COVID-19 has disrupted workflows in the health care sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of animal health care. The thalassemia market experienced a decline in 2021 due to global economic recession led by COVID-19. In addition, the COVID-19 outbreak disrupted the supply chain of thalassemia drugs across various end-user industries like hospitals and pharmacies.

However, the market is anticipated to witness recovery in 2021, and show stable thalassemia market growth in the coming future. This is attributed to the increase in adoption of various screening techniques during pregnancy for genetic abnormalities and proper counselling regarding thalassemia to drive the market growth.

Segmental Overview

The thalassemia market is segmented into treatment, type, distribution channel and region. By treatment, the market is categorized into iron chelation therapy, erythroid maturation agents and others (erythroid maturation agents, gene therapy, folic acid supplements and hydroxyurea). On the basis of type, the market is segregated into alpha thalassemia and beta thalassemia. On the basis of distribution channel, the market is categorized into hospital pharmacy, online providers, and drug stores & retail pharmacy. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By treatment the market is bifurcated into iron chelation therapy and others (erythroid maturation agent, gene therapy, folic acid supplements and hydroxyurea). The iron chelation therapy segment exhibited highest growth in 2021, and is expected to remain dominant during the thalassemia market forecast period, owing to rise in demand of iron chelation therapy drugs for thalassemia and awareness regarding it. In addition, increase in prevalence of thalassemia cases leads to rise in demand for thalassemia drugs further boost the segment growth.

On the basis of type, the market is classified into alpha thalassemia and beta thalassemia. The alpha thalassemia segment dominated the market in 2021. This is attributed to rise in demand for thalassemia gene therapy in various regions of North America. Moreover, the alpha thalassemia segment is projected to register a CAGR of 5.4% during the forecast period, owing to rise in R&D activities for alpha thalassemia. 

By distribution channel, the market is segmented into hospital pharmacies, online providers and drug stores & retail pharmacies. The drug stores & retail pharmacies segment exhibited highest growth in 2021, owing to hospital pharmacies is considered to be a standard method for thalassemia and is highly favored by the patients across the globe. However, the online providers segment is projected to register highest CAGR of 6.7% during the forecast period. This is attributed to rise in demand for online providers offering thalassemia drugs, as it prevents the need to visit hospitals for treatment which boost the market growth.

By region the thalassemia market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America had the highest market share in 2021, and is expected to maintain its lead during the forecast period, owing to high incidences of thalassemia and rise in spending in health infrastructure. In addition, rise in technological innovations for thalassemia gene therapy and increase in awareness regarding thalassemia further drive the market growth in this region. However, Asia-Pacific is expected to witness highest growth during the forecast period, owing to factors such as rise in investments in manufacturing of high-quality thalassemia drugs and gene therapy.

Presence of several major players, such as Bluebirdbio, Bristol Myers Squibb, Chiesi Farmaceutici, and advancement in manufacturing technology for gene therapies in the region drive the growth of the market. In addition various private organizations organize educating camps across the globe marked the growth of this market. In addition, organizations like DKMS-blood disorders help in finding proper donor or therapy for thalassemia with online portal across the globe. Furthermore, presence of well-established  healthcare infrastructure, and rise in adoption rate of large volume stem cell therapy are expected to drive the market growth. Furthermore, partnership as key strategy adopted by the key players in this region further boost the growth of the market. For instance, Hemanext and TIF are committed to helping elevate the standard of care for thalassaemia patients worldwide through education and research and development initiatives that will lead to important clinical advances.

Asia-Pacific expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to presence of key players in the region. Moreover, rise in adoption of various formulations for thalassemia drive the growth of the market. India has highest number of neonates born with thalassemia. For instance, according to Ministry of Health & Family Welfare data 2021, about 10,000 -15,000 children having thalassemia major, are born every year. China has highest people with thalassemia carrier due high mutuation in gene. For instance, according to article published in Genes & Diseases 2021, states carrier rate for alpha and beta thalassemia in China is 2.61% 4.8 respectively. Asia-Pacific offers profitable opportunities for key players operating in the thalassemia market, thereby registering the fastest growth rate during the forecast period, owing to the growing infrastructure of industries, rising in spending for genetic disorders, as well as well-established presence of domestic companies in the region. In addition, rise in contract manufacturing organizations within the region provides great opportunity for new entrants in this region.  

Competition Analysis

Competitive analysis and profiles of the major players in the thalassemia market, such as Apotex, Alvogen Inc, Bluebirdbio, Bristol Myers Squibb, Chiesi Farmaceutici, Cipla Ltd, Fresenius SE & Co. KGaA (Fresenius Kabi), Novartis AG, Pfizer Inc and Sun Pharmaceuticals. are provided in this report. There are some important players in the market such as Ionis Pharmaceuticals, Kiadis Pharma La Jolla Pharmaceutical Company and others. Major players have adopted product launch, product approval and acquisition as key developmental strategies to improve the product portfolio of the thalassemia market.  

Some examples of partnership in the market

In April 2022, Himalaya Wellness Company Extends Support to Sankalp India Foundation to Support Thalassemia Patients to offer permanent curative option, a bone marrow transplant.

Product approval in the market

In October 2019, European Medicines Agency approves bluebirdbio’s refined commercial manufacturing specifications for ZYNTEGLO.

Product Launches in the market

In November 2019, the FDA announced the approval of Celgene and Acceleron’s Reblozyl (luspatercept-aamt), for the treatment of anemia in adult patients with beta thalassemia who require regular red blood cell (RBC) transfusions.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the thalassemia market analysis from 2021 to 2031 to identify the prevailing thalassemia market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the thalassemia market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global thalassemia market trends, key players, market segments, application areas, and market growth strategies.

 Thalassemia Market Report Highlights