Thalassemia Therapeutics Market Latest Report with Forecast to 2025
Global Thalassemia Therapeutics Market: Overview
Thalassemia is a type of hereditary blood disorder in which an abnormal form of hemoglobin is produced by the human body. It leads to destruction of a large number of blood cells, resulting in anemia. Thalassemia is a genetic disorder and it is caused by genetic mutation or deletion of a specific gene fragment. If only one parent is the carrier of the gene, the offspring may develop thalassemia minor. If both parents are carriers of the disease, there is a possibility of developing a serious form of the disease. There are three types of thalassemia viz. beta thalassemia, alpha thalassemia, and thalassemia minor. The treatment of the disorder depends on its severity and type. In beta thalassemia, the body cannot produce beta globulin. The patients with beta and those with alpha thalassemia manifest more severe symptoms as compared to thalassemia minor. Some of the common symptoms are bone deformities, dark urine, pale skin, and excessive fatigue.
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The global thalassemia therapeutics market is estimated to expand at a significant rate during the forecast period. According to the WHO, prevalence of the disease is high in malaria-endemic regions. In some regions, prevalence of the disease has reason to become a public concern. This is one of the major factors likely to drive the global thalassemia therapeutics market during the forecast period. Rise in awareness, advancements in technology such as stem cell therapy, increase in health care expenditure, and promising pipeline are some of the other factors expected to drive the global thalassemia therapeutics market between 2017 and 2025. Furthermore, government initiatives to create awareness about thalassemia are expected to drive the market in the next few years. An example of such initiatives is Registry & Surveillance System for Hemoglobinopathies (RuSH), which collects specific information from thalassemia patients. It was started in collaboration with Centers for Disease Control and Prevention (CDC) in 2010. However, high cost of treatment, lack of awareness in some developing countries, and lack of medical coverage can restrain the thalassemia therapeutics market during the forecast period.
The global thalassemia therapeutics market can be segmented based on type, drug class, distribution channel, and region. Based on type, the market can be divided into beta thalassemia, alpha thalassemia, and thalassemia minor. The beta thalassemia segment is expected to hold the leading share of the market from 2017 to 2025, due to its higher prevalence compared to other types and high severity. Based on drug class, the global thalassemia therapeutics market can be classified into antimetabolites, antidotes, chelating agents, and others. Based on distribution channel, the market has been divided into retail stores, drug stores and e-commerce. The e-commerce segment is expected to hold a significant market share by 2025, owing to user convenience.
Geographically, the global thalassemia therapeutics market has been divided into North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the global market during the forecast period. Risen awareness and increased government efforts are some of the important factors driving the market in the region during the forecast period. Furthermore, technological advancements and rise in per capita health care expenditure are other factors augmenting the market in the region. Europe is expected to hold a significant share of the global market during the forecast period, followed by North America. Factors responsible for growth of the market in Europe are high prevalence of hemoglobinopathies (such as thalassemia and sickle cell anemia) and awareness among people about disorders. The market in Asia Pacific is anticipated to register a rapid growth rate during the forecast period. Asia Pacific is a highly attractive market for thalassemia therapeutics, due to high prevalence of thalassemia in the region, rising awareness among people, and entry of new players in the market in the region.
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Many players operating in the global thalassemia therapeutics market are adopting strategies such as new product development, promising pipeline, commercialization, and geographical expansion. Some of the prominent players operating in the global thalassemia therapeutics market are Lonza Group Ltd, Bluebird Bio, Acceleron Pharma, Inc., Sangamo Bioscience, and Kiadis Pharma.
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