As per Future Market Insights, the beta thalassemia treatment market is anticipated to attain a value pool of US$ 450 million by 2023-end. The scope for beta thalassemia treatment is expected to rise at a CAGR of 7.2% to US$ 900 million in 2033.
In recent years, there has been growing interest in the development of gene therapies and other innovative treatments for beta thalassemia. The numerous drivers, opportunities, and trends in the beta thalassemia treatment market are mentioned below
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 450 million |
| Projected Market Value in 2033 | US$ 900 million |
| Growth Rate (2023 to 2033) | 7.2% CAGR |
Thalassemia, specifically the beta thalassemia disorder, is majorly caused by the mutation within the Hemoglobin Subunit Beta (HBB) gene. For instance, at least 5.2% of the world population and over 7% of pregnant women have a chance to develop a beta thalassemia.
Additionally, beta thalassemia is a blood disease that lowers the production of hemoglobin. In people with beta thalassemia, low levels of hemoglobin cause a scarcity of oxygen in many parts of the body. Affected individuals even have a shortage of red blood cells (anemia) that causes pale skin, weakness, fatigue, and more serious complications. People with beta thalassemia are at the risk of developing abnormal blood clots.
Increasing prevalence of the disease globally with none viable treatment options available for curing the disease; this factor is anticipated to drive the beta thalassemia treatment market growth. Moreover, Growth within the evolution of pipeline drugs and also the development of the latest therapies due to R&D activities and investments by the various authorities.
Meanwhile, increasing awareness regarding available treatment options for the treatment of thalassemia is anticipated to drive the expansion of the beta thalassemia treatment market. Additionally, the rise in demand for improved curative gene therapy is predicted to drive the expansion of the beta thalassemia treatment market.
Lack of viable treatment options commercialized for the treatment of disease rather than the symptoms associated with the disease; this factor is estimated to restrain the beta thalassemia treatment market growth. However, the High cost of treatment for the disorder is hampering the beta thalassemia treatment market growth.
The global beta thalassemia treatment market is estimated to experience significant growth during the forecast period. Large population, increase in awareness about available treatment options, and rise in demand for improved curative gene therapies are a variety of the lucrative factors estimated for the further growth of the beta thalassemia treatment market
Thalassemia is a rare hereditary blood disorder characterized by the production of abnormal hemoglobin, which is in charge of the destruction of red blood cells, leading to anemia. Blood transfusion and iron chelation therapies are the only real treatment options available nowadays. This offers rise to ample opportunities within the marketplace for the event of a universal curative treatment for thalassemia.
Geographically, the beta thalassemia treatment market is segmented into seven regions viz. South Asia, East Asia, Europe, Latin America, North America, Oceania, and the Middle East and Africa.
North America is anticipated to dominate the overall thalassemia treatment market followed by Europe, Asia-Pacific, and Middle East & Africa. The North America region is estimated to have a significant share in the beta thalassemia treatment market owing to the presence of key players, high prevalence of thalassemia patients within the region, and established healthcare infrastructure.
Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some drivers estimated to extend the beta thalassemia treatment market growth.
Moreover, In Europe, the introduction of gene therapy for the treatment of thalassemia is expected to boost the growth of the beta thalassemia treatment market. Meanwhile, Asia Pacific is the fastest-growing regional market in beta thalassemia treatment owing to the high investment in healthcare infrastructure is expected to drive the growth of the beta thalassemia treatment market in this region.
Major Companies are focusing on mergers and acquisitions, new product developments, approvals, and regional expansions. As an example, in September 2019, Bluebird Bio, Inc. (US) has approved the primary gene therapy for beta thalassemia treatment.
This gene therapy minimizes the requirement for blood transfusions in patients with beta thalassemia. Thus, the majority of manufacturers are specializing in approvals for beta thalassemia that ultimately drives the expansion of the beta thalassemia treatment market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Tentatively, the global beta thalassemia treatment market has been segmented based on product type, distribution channels, and geography.
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Beta thalassemia Treatment Market
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