Hemoglobinopathies Market by Key PlayersPosted by Ryan Shaw on February 17th, 2021 The global Hemoglobinopathies Market size is expected to reach USD 15.7 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.8% from 2021 to 2028. Increasing awareness regarding hemoglobinopathies and government initiatives to diagnose the diseases at an early stage are expected to propel the market growth over the forecast period. Moreover, increasing R&D investment, the presence of a promising drug pipeline, and technologically advanced diagnostics platforms are expected to boost the growth of the market. The development of novel curative technologies, such as CRISPR/Cas9 and hematopoietic stem cell transplantation, coupled with a promising pipeline, is expected to propel market growth. Moreover, the presence of regulatory agencies, such as the FDA, which are working toward improving drug approval rate by granting accelerated approval for hemoglobinopathies drugs, is expected to drive the market. For instance, in 2019, the FDA has approved four novel drugs: Reblozyl by Bristol-Myers Squibb Company, Adakveo by Novartis AG, Zynteglo by bluebird bio, Inc., and Oxbryta by Global Blood Therapeutics, Inc. for the treatment of hemoglobinopathies. Initiatives such as the Sickle Cell Awareness Initiative (SCAI) are working toward educating the people about the disease, which will increase the diagnosis and treatment rate. SCAI also raises funds for individuals affected with sickle cell diseases (SCDs) and provides research funding. Moreover, governments of Middle Eastern and Asian countries provide funds for R&D of hemoglobinopathies treatment. For instance, various programs undertaken by governments, such as thalassemia screening in neonates and providing medicines, are impacting the market growth positively. The high patient population in low-income countries has encouraged market players and non-profit organizations to launch several initiatives to improve the access to the therapy. For instance, in February 2019, the Access to Excellent Care for Sickle Cell Patients Pilot Program (ACCEL) was launched by Global Blood Therapeutics, Inc. in order to provide research funding for novel SCD projects, with an aim to expand the access to optimal healthcare for sickle cell disease. Biopharmaceutical companies are collaborating with nonprofit organizations to promote public awareness about hemoglobinopathies. For instance, in June 2018, the Sickle Cell Disease Association of America partnered with Emmaus Life Sciences, Inc. to provide online educational tools to sickle cell patients, friends, clinicians, caregivers, and researchers for spreading awareness about complications associated with SCD. An increase in investment and funding for the development of novel therapies to treat hemoglobinopathies will further boost the market growth over the forecast period. The National Heart, Lung, and Blood Institute (NHLBI) has significantly invested in research & development in sickle cell disease. The NHLBI supports research work through various initiatives. Furthermore, private funding such as the Bronx Blood Research Fund (BBRF) provides a platform for research and management of thalassemia and other hemoglobinopathies. Gene therapy has emerged as a promising treatment option for managing hemoglobin disorder as it targets the underlying genetic cause of the condition through the administration of one-time gene therapy and significantly reduces the need for blood transfusions. The current pipeline of gene therapy products includes CTX001 (CRISPR Therapeutics), BIVV003 (Sangamo Therapeutics, Inc. & Bioverativ Inc), and HGB-206 (bluebird bio, Inc). Request a free sample copy or view report summary: Hemoglobinopathies Market Report Hemoglobinopathies Market Report Highlights
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