The global thalassemia market is anticipated to gain traction due to the factors such as rising funding for developing new combination drugs that act effectively for treating thalassemia.
Thalassemia is an inherited blood disorder, which is characterised by abnormal haemoglobin production, resulting into anaemia. Anaemia results into pale/yellow skin, fatigue, enlarged spleen, and dark urine. In thalassemia the mutated gene that helps in haemoglobin production is transferred from parents to child. There are generally two types of thalassemia alpha thalassemia and beta thalassemia. Beta thalassemia is the most common type of thalassemia, and the treatment of this thalassemia depends on the severity of thalassemia. Additionally, pregnant women carrying affected foetuses, creates delivery complication. The common treatments for thalassemia are blood transfusion, folic acid, and iron chelation. Moreover, sometimes bone marrow transplant can be the treatment option.
According to CDC, approximately 5% of population i.e. 4.4 out of every 10,000 people globally is suffering from the thalassemia. On the other hand, the growing number of clinical trials for developing various biological therapies and gene therapies that act effectively for the treatment of thalassemia to grow entire industry research. Additionally, Thalassemia International Federation, reported around 7% of global population suffers from disease related to haemoglobin. The regions like Greece, Italy, Mediterranean islands, and South East Asia have higher prevalence of thalassemia as compared to other part of the world.
Continuous research and development for novel treatment of thalassemia, increased R&D funding by the key players, will support the growth of global thalassemia market.
The global thalassemia market is primarily driven by the factors such as growing number of patients from all age group suffering from thalassemia. Additionally, continuously evolving drug pipeline and increasing number of patented drugs for treating thalassemia would also spur the entire thalassemia treatment industry. Moreover, increasing investment on healthcare infrastructure in the developing countries would also grow the thalassemia market in the near future.
While, increasing number of clinical trials for developing new combination drugs along with the strong, and growing R&D funding and investments on healthcare by the governments of developing and developed economies, and unmet needs for effective treatments influence the market growth during the forecast period.
Moreover, key trends that has include increasing drug pipeline, rising number of scope of gene therapy and rising number of people suffering from thalassemia boosts the growth of thalassemia market. However, stringent regulatory policies, and high cost of treatment would hinder the growth of thalassemia market during the forecast period.
The global thalassemia market is segmented on the basis of thalassemia type, therapeutic class, end use and geography.
On the basis of thalassemia type, thalassemia market is segmented into:
On the basis of therapeutic class, thalassemia market is segmented into:
On the basis of end use type, thalassemia market is segmented into:
Geographically, the thalassemia market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rising awareness about thalassemia, and increasing government efforts to support gene therapy to lead the global thalassemia market in North America.
Geographically, the global thalassemia market to be segmented as North America, Europe, Asia Pacific, Latin America & Middle East and Africa. North America is expected to dominate the global thalassemia market over the forecast period. North America holds major share owning to the continuous technological developments by the increasing R&D investments by the major players and government, and increasing number of key players invest in this region. Additionally, increasing number of patients suffering from thalassemia in the U.S. would spur the market growth in North America. Moreover, Europe is considered to grow at a faster rate during the forecast period followed by the North America, and Asia Pacific. The growth in European countries are high prevalence of hemoglobinopathies, and awareness among the people about this disorders.
However, Asia Pacific is also estimated to be a lucrative market during the forecast period. Increasing number of patients suffering from thalassemia and increased government expenditure for developing healthcare infrastructure are the major factors that anticipate governing the thalassemia market in Asia Pacific during coming years.