Dublin, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The "Global Hemoglobinopathies Market Size, Share & Industry Trends Analysis Report By Type (Thalassemia, Sickle Cell Disease), By Distribution Channel, By Therapy (Monoclonal Antibody Medication, Hydroxyurea, ACE Inhibitors), By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Hemoglobinopathies Market size is expected to reach $6.0 billion by 2028, rising at a market growth of 5.6% CAGR during the forecast period.
In its stable state, normal human hemoglobin's are tetrameric protein composed of two globin chains, each of which has an alpha chain and a beta chain. Every globin chain is attached to a heme moiety that contains iron. The synthesis of alpha-like and beta-like (also known as non-alpha-like) is maintained throughout the lifetime, so their ratio remains constant. In the human body, hemoglobin is used to transport oxygen from the lungs to tissues.
This happens as the globin chains enable the molecules to take up more oxygen in places with high oxygen concentrations and release oxygen in areas with low oxygen concentrations. Hemoglobin also transports carbon dioxide and nitric oxides. Hemoglobinopathies are a set of hereditary diseases. In these diseases, there is an abnormal synthesis or structure of the hemoglobin molecules.
Market Growth Factors
The rising cases of hemoglobinopathy in under-developed countries
There is a limitation in data related to the exact number of inherited hemoglobin illnesses, but still, they are certainly going to be a major burden for healthcare resources. The public healthcare system in under-developed countries is also improving, and with that, the survival rate of children suffering from these diseases is also increasing, which means more patients will be available for later treatments. Inherited hemoglobin disorder is considered to be the most common monogenic illness.
High investments in research and development
The growth of tissue-oriented, safe, and efficient gene editing technology has contributed to the development of various gene therapy types for hemoglobin-related illnesses. Gene therapy has the potential to treat patients. As new and promising therapeutic options appear, the overall cost of treatment is expected to get more affordable. Presently, an increasing number of trials to find the efficiency and safety of these gene editing and addition technologies to rescue hemoglobin production in beta laminopathies are going on.
Market Restraining Factors
Failure of the clinical trials and high risk in treatment
A hematopoietic stem cell transplant is currently the only available treatment for Sickle Cell Disease. This approach has evolved enough to have resulted in practice guidelines for its indication and management. But despite the numerous protocols, the number of patients treated with them is only a few. Moreover, the long-term side effects of solid tumors in transplanted Sickle cell patients are also an area of concern. Although there is constant advancement in the medical sector, there is still a lack of permanent treatment for hemoglobinopathy illness.
Based on the Type, the Hemoglobinopathy Market is segmented into Thalassemia, Sickle Cell Disease and Others. The thalassemia segment acquired the highest revenue share in the hemoglobinopathies market in 2021. It is because thalassemia is a type of blood disorder that is caused by the alteration in the gene. There are two primary types of thalassemia. One is alpha thalassemia which occurs when the alpha globin protein gene or genes are missing or mutated. And the other one is Beta thalassemia which is due to the change in the production of beta globin protein.
Distribution Channel Outlook
By Distribution channel, the hemoglobinopathy Market is classified into Hospital Pharmacy, Online Providers and Drug Stores and Retail Pharmacy. The Hospital pharmacy segment recorded a significant revenue share in the hemoglobinopathies market in 2021. Due to the composition of the healthcare services, which includes the practice, preparing, compounding, storing, dispensing medicines and medical devices, and patient counseling. Also, they have healthcare professionals like doctors and nurses for effective, safe, and efficient use. In health facilities, a hospital pharmacy is a specialized field of pharmacy which is a part of the patient's health care.
On the basis of Therapy, the hemoglobinopathy market is divided into Monoclonal Antibody Medication, ACE inhibitors, Hydroxyurea and Others. The Monoclonal Antibody Medication segment procured the largest revenue share in the hemoglobinopathy market in 2021. It is because of the sufficient medications available for the therapy and also because thalassemia patients show healthy recovery by monoclonal antibody medication. Monoclonal antibodies are similar to antibodies that a human body develops, which mimic the activity of the immune system. They are created through a process in which specific antibodies are drawn out of the blood and then cloned.
Region-wise, the hemoglobinopathies market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region acquired the largest revenue share in the hemoglobinopathies market in 2021. Due to the awareness programs initiated by the different organizations in which they spread awareness about the diseases related to hemoglobinopathy and the need to research and find new therapies for its treatment. Also, the rising immigration to the region from areas where this disease is widely found and the availability of new and enhanced medications are expected to fuel the market growth.
Scope of the Study
Sickle Cell Disease
By Distribution Channel
Drug Stores & Retail Pharmacy
Monoclonal Antibody Medication
Key Market Players
List of Companies Profiled in the Report:
Pfizer, Inc. (Global Blood Therapeutics, Inc.)
Merck & Co., Inc.
Bristol Myers Squibb Company
Alnylam Pharmaceuticals, Inc.
Emmaus Life Sciences, Inc.
Canthera Discovery Ltd.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Hemoglobinopathies Market by Type
Chapter 4. Global Hemoglobinopathies Market by Distribution Channel
Chapter 5. Global Hemoglobinopathies Market by Therapy
Chapter 6. Global Hemoglobinopathies Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/44883i
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