The global Transfusion Dependent Thalassaemia Management Market is expected to garner a market value of US$ 10 Million in 2023 and is expected to accumulate a market value of US$ 17.91 Million by registering a CAGR of 6% in the forecast period 2023 to 2033. The market for Transfusion Dependent Thalassaemia Management registered a CAGR of 4% in the historical period 2018 to 2022.
Studies state that Thalassemia affects approximately 4.4 out of every 10,000 live births throughout the world. This condition causes both males and females to inherit the relevant gene mutations equally because it follows an autosomal pattern of inheritance with no preference for gender.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | US$ 10 Million |
| Anticipated Forecast Value (2033) | US$ 17.91 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Transfusion Dependent Thalassaemia Management reflected a value of 4% during the historical period, 2018 to 2022.
A series of international-level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering effective ways for Transfusion Dependent Thalassaemia Management.
According to the National Center on Birth Defects and Developmental Disabilities, thalassemia affects at least 1,000 people in the United States of America. The market's growth is also attributed to the factors such as growing disease prevalence, a rise in lifestyle-associated concerns, and technological advancements. Furthermore, the increasing incidence of thalassemia patients and increasing research and development investments are propelling immense growth.
In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for Transfusion Dependent Thalassaemia Management. In the years to come, increasing focus by government organizations and private agencies like WHO and pharmaceutical companies to create awareness of thalassemia is fuelling market growth. Thus, the market for Transfusion Dependent Thalassaemia Management is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Increased Prevalence of the Condition to Push the Market Growth
According to the Thalassemia International Federation, approximately 7.0% of the global population suffers from diseases and conditions associated with hemoglobin, out of which around 70.0% have sickle cell anemia and the remaining develop thalassemia or other blood disorders. Around 2.1% of the global population is living with various forms of thalassemia. This disorder affects approximately 4.4 in every 10,000 live births worldwide.
Blood transfusion is one of the conventional treatments for thalassemia patients involving patients that need more than 2 units of red blood cells every 28 days. Furthermore, the growing investments in research and development programs by biotechnology and pharmaceutical companies are boosting market growth. Government measures to raise thalassemia awareness are also expected to propel the market in the next few years.
For instance, in March 2022, CIL inked an MoU with the Kokilaben Dhirubhai Ambani for its primary program Thalassemia Bal Seva Yojana, which would fund bone marrow transplants for Thalassemia and Aplastic Anaemia patients from low-income families. This initiative gives financial support of up to ten lakh rupees to children of low-income families suffering from Thalassemia and Aplastic Anaemia. This, in turn, is expected to have a significantly positive impact on the market's growth.
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Expensive Cost of Treatment to restrict Market Growth
According to the Centers for Disease Control, people who receive a lot of blood transfusions are at risk for iron overload. Red blood cells contain a lot of iron, and over time, the iron from all of the transfusions can build up in the body. When it builds up, the iron collects in places like the heart, liver, and brain, and can make it hard for these organs to work properly. To prevent iron overload, people with thalassemia may need chelation therapy, which is when doctors give a medicine - either a pill or a shot under the skin - to remove excess iron before it builds up in the organs. Considering this, the market growth is projected to get hampered.
The expensive treatment of Transfusion Dependent Thalassaemia Management, less awareness of Fucosidosis disease, and insubstantial treatment options are hampering the market growth. Furthermore, lack of health remuneration policies, rise in cost, and side effects associated with certain treatments are expected to hinder the market growth.
Improvement in healthcare spending propelling the growth of Transfusion Dependent Thalassaemia Management in Asia Pacific
The Asia Pacific is expected to exhibit a significant growth rate of all regions over the forecast period, with a CAGR of 5% during the forecast period. The growth is owed to increased awareness, significant increases in healthcare spending, and a rising frequency of the Transfusion Dependent Thalassaemia Management Market in the region. Asia Pacific is an emerging market due to the increase in point care approach to health & care. The increasing number of hospitals in India and China makes a promising market for the market worldwide.
In November 2020, for instance, researchers from numerous educational institutions based in China conducted a study to evaluate the prevalence of iron deficiency anemia and anemia in pregnant women. They found that nearly 13.9% of Chinese women were diagnosed with iron deficiency anemia, while around 19.8% were diagnosed with anemia. The increasing number of similar research studies in this country is anticipated to fuel the market.
Technological Advancements Shaping Landscape for Transfusion Dependent Thalassaemia Management in North America
North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. As per the American Family Physician, the prevalence of iron deficiency anemia is about 20% in black and Mexican-American women, 9 to 12% in non-Hispanic white women, and nearly 2% in adult men. Approximately 9% of patients older than 65 years with this condition have gastrointestinal cancer. These numbers are estimated to grow in the near future, thereby propelling the market growth.
Government initiatives and an increase in the number of research partnerships are boosting market growth across North America. The United States of America leads the regional market owing to the rising awareness about the condition and the increasing number of populations with thalassemia carrier gene along with expanding birth rates due to variation of genes among the population.
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Iron Chelating Drugs as an effective treatment to drive the market
According to the FMI analysis, the Increasing incidence of iron deficiency among individuals is expected to continue driving sales for iron chelating drugs over the forecast period. The increasing popularity of these drugs as an effective treatment along with the presence of innovative technologies and changing lifestyle patterns are other crucial factors augmenting the demand.
In May 2020, Luspatercept was suggested for authorization by the Committee for Medicinal Products for Human Use (CHMP) to treat anemia in both the rare blood condition beta type and the hematological malignancy myelodysplastic syndrome (MDS). Apart from this, some of the other approved chelating drugs in the USA include succimer, dimercaprol (BAL), edetate calcium disodium, deferoxamine, and penicillamine.
Hospitals to take the lead and drive market growth
According to the FMI analysis, Hospitals account for the largest market share. The requirement for several hospital stays and visits during the Transfusion Dependent Thalassaemia Management facilitates the growth of this segment. Hospitals are also emphasizing the delivery of various comprehensive programs with personalized and professional support in the management of target diseases. The ability of doctors to provide customers with personalized advice that would pertain to their specific circumstances and health needs will boost growth.
Key players in the Transfusion Dependent Thalassaemia Management Market are Celgene Corporation, BlueBird Bio, Protagonist Therapeutics, Agios Pharmaceuticals, Ionis Pharmaceuticals, Vifor Pharma, Sangamo Therapeutics, Orchard Therapeutics, CRISPR Therapeutics, and DisperSol Technologies among other global players.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | US$ 10 Million |
| Market Value in 2033 | US$ 17.91 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
From 2018 to 2022, the global market exhibited a 5.4% CAGR.
The global market size is estimated to reach US$ 17.91 billion by 2033.
R&D Systems and Creative Diagnostics are the top key players.
The global market is estimated to secure a CAGR of 6% through 2033.
Expensive treatment costs are likely to limit market growth.
1. Executive Summary | Transfusion Dependent Thalassaemia Management Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Treatment, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Treatment, 2023 to 2033 5.3.1. Iron Chelating Drugs 5.3.2. Erythroid Maturation Agents 5.3.3. Stem Cell Therapy 5.3.4. Others 5.4. Y-o-Y Growth Trend Analysis By Treatment, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Treatment, 2023 to 2033 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Users 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By End Users, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End Users, 2023 to 2033 6.3.1. Hospitals 6.3.2. Clinics 6.3.3. Others 6.4. Y-o-Y Growth Trend Analysis By End Users, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End Users, 2023 to 2033 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. Asia Pacific 7.3.5. Middle East and Africa (MEA) 7.4. Market Attractiveness Analysis By Region 8. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Treatment 8.2.3. By End Users 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Treatment 8.3.3. By End Users 8.4. Key Takeaways 9. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Treatment 9.2.3. By End Users 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Treatment 9.3.3. By End Users 9.4. Key Takeaways 10. Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Treatment 10.2.3. By End Users 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Treatment 10.3.3. By End Users 10.4. Key Takeaways 11. Asia Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.1.4. Singapore 11.2.1.5. Thailand 11.2.1.6. Indonesia 11.2.1.7. Australia 11.2.1.8. New Zealand 11.2.1.9. Rest of Asia Pacific 11.2.2. By Treatment 11.2.3. By End Users 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Treatment 11.3.3. By End Users 11.4. Key Takeaways 12. MEA Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. GCC Countries 12.2.1.2. South Africa 12.2.1.3. Israel 12.2.1.4. Rest of MEA 12.2.2. By Treatment 12.2.3. By End Users 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Treatment 12.3.3. By End Users 12.4. Key Takeaways 13. Key Countries Analysis 13.1. USA 13.1.1. Pricing Analysis 13.1.2. Market Share Analysis, 2022 13.1.2.1. By Treatment 13.1.2.2. By End Users 13.2. Canada 13.2.1. Pricing Analysis 13.2.2. Market Share Analysis, 2022 13.2.2.1. By Treatment 13.2.2.2. By End Users 13.3. Brazil 13.3.1. Pricing Analysis 13.3.2. Market Share Analysis, 2022 13.3.2.1. By Treatment 13.3.2.2. By End Users 13.4. Mexico 13.4.1. Pricing Analysis 13.4.2. Market Share Analysis, 2022 13.4.2.1. By Treatment 13.4.2.2. By End Users 13.5. Germany 13.5.1. Pricing Analysis 13.5.2. Market Share Analysis, 2022 13.5.2.1. By Treatment 13.5.2.2. By End Users 13.6. UK 13.6.1. Pricing Analysis 13.6.2. Market Share Analysis, 2022 13.6.2.1. By Treatment 13.6.2.2. By End Users 13.7. France 13.7.1. Pricing Analysis 13.7.2. Market Share Analysis, 2022 13.7.2.1. By Treatment 13.7.2.2. By End Users 13.8. Spain 13.8.1. Pricing Analysis 13.8.2. Market Share Analysis, 2022 13.8.2.1. By Treatment 13.8.2.2. By End Users 13.9. Italy 13.9.1. Pricing Analysis 13.9.2. Market Share Analysis, 2022 13.9.2.1. By Treatment 13.9.2.2. By End Users 13.10. China 13.10.1. Pricing Analysis 13.10.2. Market Share Analysis, 2022 13.10.2.1. By Treatment 13.10.2.2. By End Users 13.11. Japan 13.11.1. Pricing Analysis 13.11.2. Market Share Analysis, 2022 13.11.2.1. By Treatment 13.11.2.2. By End Users 13.12. South Korea 13.12.1. Pricing Analysis 13.12.2. Market Share Analysis, 2022 13.12.2.1. By Treatment 13.12.2.2. By End Users 13.13. Singapore 13.13.1. Pricing Analysis 13.13.2. Market Share Analysis, 2022 13.13.2.1. By Treatment 13.13.2.2. By End Users 13.14. Thailand 13.14.1. Pricing Analysis 13.14.2. Market Share Analysis, 2022 13.14.2.1. By Treatment 13.14.2.2. By End Users 13.15. Indonesia 13.15.1. Pricing Analysis 13.15.2. Market Share Analysis, 2022 13.15.2.1. By Treatment 13.15.2.2. By End Users 13.16. Australia 13.16.1. Pricing Analysis 13.16.2. Market Share Analysis, 2022 13.16.2.1. By Treatment 13.16.2.2. By End Users 13.17. New Zealand 13.17.1. Pricing Analysis 13.17.2. Market Share Analysis, 2022 13.17.2.1. By Treatment 13.17.2.2. By End Users 13.18. GCC Countries 13.18.1. Pricing Analysis 13.18.2. Market Share Analysis, 2022 13.18.2.1. By Treatment 13.18.2.2. By End Users 13.19. South Africa 13.19.1. Pricing Analysis 13.19.2. Market Share Analysis, 2022 13.19.2.1. By Treatment 13.19.2.2. By End Users 13.20. Israel 13.20.1. Pricing Analysis 13.20.2. Market Share Analysis, 2022 13.20.2.1. By Treatment 13.20.2.2. By End Users 14. Market Structure Analysis 14.1. Competition Dashboard 14.2. Competition Benchmarking 14.3. Market Share Analysis of Top Players 14.3.1. By Regional 14.3.2. By Treatment 14.3.3. By End Users 15. Competition Analysis 15.1. Competition Deep Dive 15.1.1. Celgene Corp. 15.1.1.1. Overview 15.1.1.2. Product Portfolio 15.1.1.3. Profitability by Market Segments 15.1.1.4. Sales Footprint 15.1.1.5. Strategy Overview 15.1.1.5.1. Marketing Strategy 15.1.2. BlueBird Bio 15.1.2.1. Overview 15.1.2.2. Product Portfolio 15.1.2.3. Profitability by Market Segments 15.1.2.4. Sales Footprint 15.1.2.5. Strategy Overview 15.1.2.5.1. Marketing Strategy 15.1.3. Protagonist Therapeutics 15.1.3.1. Overview 15.1.3.2. Product Portfolio 15.1.3.3. Profitability by Market Segments 15.1.3.4. Sales Footprint 15.1.3.5. Strategy Overview 15.1.3.5.1. Marketing Strategy 15.1.4. Agios Pharmaceuticals 15.1.4.1. Overview 15.1.4.2. Product Portfolio 15.1.4.3. Profitability by Market Segments 15.1.4.4. Sales Footprint 15.1.4.5. Strategy Overview 15.1.4.5.1. Marketing Strategy 15.1.5. Ionis Pharmaceuticals 15.1.5.1. Overview 15.1.5.2. Product Portfolio 15.1.5.3. Profitability by Market Segments 15.1.5.4. Sales Footprint 15.1.5.5. Strategy Overview 15.1.5.5.1. Marketing Strategy 15.1.6. Vifor Pharma 15.1.6.1. Overview 15.1.6.2. Product Portfolio 15.1.6.3. Profitability by Market Segments 15.1.6.4. Sales Footprint 15.1.6.5. Strategy Overview 15.1.6.5.1. Marketing Strategy 15.1.7. Sangamo Therapeutics 15.1.7.1. Overview 15.1.7.2. Product Portfolio 15.1.7.3. Profitability by Market Segments 15.1.7.4. Sales Footprint 15.1.7.5. Strategy Overview 15.1.7.5.1. Marketing Strategy 15.1.8. Orchard Therapeutics 15.1.8.1. Overview 15.1.8.2. Product Portfolio 15.1.8.3. Profitability by Market Segments 15.1.8.4. Sales Footprint 15.1.8.5. Strategy Overview 15.1.8.5.1. Marketing Strategy 15.1.9. CRISPR Therapeutics 15.1.9.1. Overview 15.1.9.2. Product Portfolio 15.1.9.3. Profitability by Market Segments 15.1.9.4. Sales Footprint 15.1.9.5. Strategy Overview 15.1.9.5.1. Marketing Strategy 15.1.10. DisperSol Technologies 15.1.10.1. Overview 15.1.10.2. Product Portfolio 15.1.10.3. Profitability by Market Segments 15.1.10.4. Sales Footprint 15.1.10.5. Strategy Overview 15.1.10.5.1. Marketing Strategy 16. Assumptions & Acronyms Used 17. Research Methodology
Healthcare
May 2022
REP-GB-14775
June 2024
250 pages
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Transfusion Dependent Thalassaemia Management Market
