The global thalassemia market size is expected to reach USD 1,492.9 billion by 2030, according to a new study by Polaris Market Research. The report “Thalassemia Market Share, Size, Trends, Industry Analysis Report, By Treatment Type (Iron Chelating Drugs, Blood Transfusions, Folic Acid Supplements, Gene Therapy, and Others); By Disease Type; By End-Use; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The primary drivers driving market growth include rising thalassemia prevalence and increased thalassemia treatment awareness. According to the National Institute Health study report states that as per the Thalassemia International Federation, roughly 7.0% of the world’s population suffers from hemoglobin-based diseases and conditions, with approximately 70.0% having sickle cell anemia and the remainder developing thalassemia. Thalassemia affects around 2.1% of the world’s population.
Furthermore, as per the Medical Science Study, thalassemia affects roughly 4.4 out of every 10,000 live births worldwide. Since it maintains an autosomal mode of inheritance with no predilection for gender, either males or females receive the relevant gene variants equally. Approximately 5% of the global population possesses a variant in the alpha or beta component of the hemoglobin molecule. Just 1.7% of the world’s population has symptoms caused by genetic mutations, which are classified as a thalassemia trait.
However, certain ethnic groups are more prone to be affected, with 5% to 30% of these populations suffering thalassemia indications. Thus, the rising prevalence of the disease has led to an increase in the demand for treatment which is boosting the market growth over the forecast period.
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Moreover, the availability of therapies for the treatment of disease with its benefits is boosting the market growth over the forecast period. Chelation therapy and blood transfusions are the most common therapies for thalassemia patients because they are less expensive and more widely available than bone marrow transplants.
Chelation therapy employs medications such as widely prescribed to treat chronic iron overload that occurs following many blood transfusions in people with chronic thalassemia. Chelation therapy medicines used subcutaneously or intravenously using a gradual infusion approach to purify blood improve patients’ chances of curing thalassemia. However, the expensive cost of the treatment is a key impediment to market growth.
Thalassemia Market Report Highlights
- Blood Transfusions segment is anticipated to grow at a significant CAGR over the forecast period. The expanding market for marrow transplant and blood transfusion therapy, the increasing number of transfusion-dependent patients, and the realization of affordable treatment methods for thalassemia is projected to fuel market expansion.
- gene therapy segment accounted for the largest share of the global revenue due to the rise in prevalence of thalassemia disease across the globe.
- Asia Pacific is expected to grow at a witness fastest growth over the projected period. The existence of a substantial number of sickle cell disease and thalassemia patients is projected to drive market expansion in the coming years. Supportive government measures targeted at increasing the standard of care provided to individuals with hemoglobinopathies are supporting the region’s market growth.
- The global market includes ApoPharma Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, IONIS Pharmaceuticals, Kiadis Pharma, La Jolla Pharmaceutical Company, Novartis AG, Pfizer, Inc., SG Pharma Pvt. Lmt., Sangamo Therapeutics, and Vifor Pharma
Polaris Market Research has segmented the Thalassemia market report based on treatment type, disease type, end-user, and region:
Thalassemia, Treatment Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Iron Chelating Drugs
- Blood Transfusions
- Folic Acid Supplements
- Gene Therapy
Thalassemia, Disease Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Alpha Thalassemia
- Beta Thalassemia
Thalassemia, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Research Institute
Thalassemia, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa