Sickle Cell Disease Treatment Market to Garner USD 1.6 Billion by 2031: Allied Market Research

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Nov 09, 2022, 19:00 ET

Rise in prevalence of sickle cell disease, surge in government support for healthcare infrastructure improvement, and increase in R&D initiatives have boosted the growth of the global sickle cell disease treatment market. The market across North America held the lion's share in 2021, accounting for around two-fifth of the market. The Covid-19 pandemic negatively affected the market due to decline in hospitalization, ER visits, decrease in people who received routine follow-up care from a hematologist, and duration of stay.

PORTLAND, Ore., Nov. 10, 2022 /PRNewswire/ -- As per the report published by Allied Market Research, the global sickle cell disease treatment market generated $1.1 billion in 2021, and is expected to reach $1.6 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chains, key investment pockets, competitive scenarios, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$1.1 billion
Market Size in 2031	$1.6 billion
CAGR	4.1 %
No. of Pages in Report	131
Segments Covered	Drug Type, Type, Route of Administration, and Region
Drivers	Rise in prevalence of sickle cell disease
	Surge in government support for healthcare infrastructure improvement
	Increase in R&D initiatives
Opportunities	Rise in investment by key players toward R&D related to sickle cell diseases
Restraints	High cost of treatment associated with sickle cell diseases and their side effects

Covid-19 Scenario:

The Covid-19 pandemic negatively affected the market due to decline in hospitalization, ER visits, decrease in people who received routine follow-up care from a hematologist, and duration of stay.
The outbreak of Covid-19 disrupted the workflows in the healthcare. It forced several industries to shut their businesses.
However, the market is expected to recover post-pandemic as the governments launched several vaccination drives.

The report segments the global sickle cell disease treatment market on the basis of drug type, type, route of administration, and region.

Based on drug type, the hydroxyurea segment held the largest share in 2021, accounting for more than three-fifths of the market. However, the adakveo segment is estimated to register the highest CAGR of 5.9% during the forecast period.

On the basis of type, the sickle cell anemia segment held the largest share in 2021, accounting for more than half of the market. In addition, the segment is expected to showcase the highest CAGR of 4.7% from 2022 to 2031.

Based on route of administration, the oral segment accounted for the largest share in 2021, holding around four-fifths of the market. However, the parenteral segment is projected to manifest the highest CAGR of 4.3% during the forecast period.

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The global sickle cell disease treatment market is analyzed across several regions such as North America, LAMEA, Asia-Pacific, and Europe. The market across North America held the lion's share in 2021, accounting for around two-fifth of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 5.7% from 2022 to 2031.

The global sickle cell disease treatment market report includes an in-depth analysis of the prime market players such as Agios Pharmaceuticals, Bristol Myers Squibb Company, CRISPR Therapeutics, Editas Medicine, Emmaus Life Sciences, Inc., Global Blood Therapeutics, Inc., Medunic USA, Inc., Novartis AG, Novo Nordisk, and Vifor Pharma.

The report analyzes these key players in the global sickle cell disease treatment market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.

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