Thalassemia Market Development Trends, Economic Impacts and Research Forecasts to 2022
The thalassemia market size is predicted to value at USD 3.53 billion by 2022, during the forecast period. The market is subject to observe a substantial growth due to the rise in occurrence of thalassemia diseases, and high-end demand for global-cure. The factors driving the growth of the thalassemia industry are rising awareness about genetic disorders, and adoption of modern techniques in healthcare sector. The increase in incidences related to the thalassemia are expected to grow in different region of the globe due to factors such as growing populace immigration, mixed race marriages, hereditary and environmental influences are the leading causes for expansion of the market during the forecast period. Globally, the thalassemia market is predicted to grow at CAGR of 10.8% in forecast period, providing numerous opportunity for market players to invest for research and development in the thalassemia industry.
Most of the medicines that are consumed and prescribed to treat thalassemia are only capable of curing symptoms and their implication on the body similar to anemia, rise of iron in blood and lack of essentials vitamin in the human body. The treatment for thalassemia is still considered as non-viable despite, latest methodologies. These factors are hampering the market growth for thalassemia in recent years. Currently, the treatment associated with thalassemia is limited only to blood transfusion techniques and iron chelation therapy. Though, the advent of gene therapy has shown significant capabilities to cure thalassemia diseases in short duration of time, reenergizing growth of thalassemia market in upcoming years.
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Thalassemia is considered as a hereditary blood disease caused due to variable production of hemoglobin in human body. Patients suffering from thalassemia disorder cannot produce required hemoglobin for proper functioning that leads to the severe cases of anemia. Hemoglobin present in the red blood cells is responsible for oxygen supply to various parts of the body. Due to the lack of hemoglobin in blood cells, enough oxygen is not supplied to the body part for proper functioning. Thus, the body organs turn weak and fragile due to insufficient oxygen commonly, thalassemia disorder is classified in two types such as alpha thalassemia disorder and beta thalassemia disorder. Critical importance is given to treatment of the beta thalassemia disorder due its severe effects. The beta thalassemia is also termed as Cooley’s anemia. The symptoms associated with the diseases starts appearing during two to three years from date of occurrence, these symptoms include pale skin, lack of hunger, irritability, and lack of growth. The common treatment associated with the disorder is routinely blood transfusions and iron chelation technique. In thalassemia disorder, there is substantial amount of iron production in the body due to adverse effects of disease.
Treatment or therapy of the thalassemia solely relies on the level of severity in the patients. Majorly for alpha thalassemia disorders or mild forms of the disease condition, basic medication along with proper counseling is preferred. While in severe cases, a full-fledged treatment is required involving treatment blood transfusion, iron chelation therapy to maintain concentration of iron in the blood. This can be achieved with use of drugs, for example, deferoxamine and deferasirox.
The thalassemia industry is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in adoption of latest technologies for treatment of genetic disorders and existence well-established healthcare infrastructure. Europe region is predicted to hold major market share in the thalassemia market with massive growth in forecast period. Countries such as Italy, Germany and France are leading the European market with increase in the occurrence of thalassemia diseases and growing investment by leading industry players due to potential opportunities in the region.
The key players in the thalassemia industry are bluebird Incorporations, Acceleron Pharma Incorporations, Celgene Co., Incyte Co., Gamida Cell, Kiadis Pharma Co., La Jolla Pharmaceutical Company, and IONIS Co.
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The thalassemia market size is predicted to value at USD 3.53 billion by 2022, during the forecast period. The market is subject to observe a substantial growth due to the rise in occurrence of thalassemia diseases, and high-end demand for global-cure. The factors driving the growth of the thalassemia industry are rising awareness about genetic…
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