The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The sickle cell disease treatment market has experienced remarkable growth in recent years, with the market size surging from $2.46 billion in 2023 to an anticipated $2.95 billion in 2024, showcasing an impressive Compound Annual Growth Rate (CAGR) of 20.0%. This surge is credited to an enhanced understanding of the disease, advancements in blood transfusions, effective pain management, and the utilization of hydroxyurea therapy.

Contributing Factors

• Disease Understanding
• Blood Transfusions
• Pain Management
• Hydroxyurea Therapy

Future Outlook: Accelerating Growth
The sickle cell disease treatment market is poised for continued rapid growth, with an expected market size of $5.75 billion in 2028, featuring a robust CAGR of 18.1%. Key drivers for this surge include advancements in gene editing and gene therapy, the development of new drugs, the integration of telemedicine and remote monitoring, and global health initiatives.

Growth Catalysts

• Gene Editing and Gene Therapy
• New Drug Development
• Telemedicine and Remote Monitoring
• Global Health Initiatives

Meeting Demand: Blood Transfusions Take Center Stage
The escalating demand for blood transfusions emerges as a pivotal factor propelling the growth of the sickle cell disease treatment market. Blood transfusions play a crucial role in alleviating the challenges associated with vaso-occlusion, enhancing blood’s oxygen-carrying capacity. In 2021, the UK witnessed a surge in blood donations, with 1.7 million donations. Similarly, the US requires around 29,000 units of red blood cells, 5,000 units of platelets, and 6,500 units of plasma daily, underscoring the critical role of blood transfusions in treating sickle cell disease.

Key Statistics

• UK’s 1.7 million blood donations in 2021
• US’s daily need for blood components

Industry Leaders Steering Innovation
Major players in the sickle cell disease treatment market, including Sun Pharmaceutical Industries Ltd., Pfizer Inc., Johnson & Johnson Private Limited, and others, play a pivotal role in advancing treatment options and driving innovation in the field.

Key Players

• Sun Pharmaceutical Industries Ltd.
• Pfizer Inc.
• Johnson & Johnson Private Limited
• Novartis AG
• Sanofi S.A.

Innovations Propel Advancements
Innovative product approvals have become a cornerstone of progress in the sickle cell disease treatment market. Companies are strategically focusing on obtaining swift approvals to introduce effective treatment options. For instance, Global Therapeutics Inc. secured rapid FDA approval for Oxbryta (voxelotor) tablets in December 2021, offering a breakthrough treatment specifically for children aged 4 to 11 with sickle cell disease.

View More On The Sickle Cell Disease Treatment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/sickle-cell-disease-treatment-global-market-report

Notable Approval

• Global Therapeutics Inc. gains rapid FDA approval for Oxbryta
• First-in-class drug preventing sickle hemoglobin polymerization
• Administered as a subcutaneous injection once daily

Strategic Acquisitions: Pfizer’s Visionary Move
In October 2022, Pfizer Inc. made a strategic move by acquiring Global Blood Therapeutics Inc. for $5.4 billion. This acquisition enriched Pfizer’s sickle cell disease portfolio, providing access to a premier pipeline dedicated to addressing the pressing needs of an underserved patient population.

Strategic Acquisition

• Pfizer acquires Global Blood Therapeutics Inc. for $5.4 billion
• Access to a premier sickle cell disease portfolio
• Addressing unmet needs in the patient population

Market Segmentation: Precision in Treatment
The sickle cell disease treatment market is meticulously segmented, providing a comprehensive understanding of its dynamics. Segments include treatment modality, disease type, route of administration, and end-users.

Market Segments

1. Treatment Modality:
   • Blood Transfusion
   • Pharmacotherapy
   • Bone Marrow Transplant
2. Disease Type:
   • Sickle Cell Anemia
   • Hemoglobin Sickle C Disease (HbSC)
   • Other Disease Types
3. Route of Administration:
   • Oral
   • Parenteral
4. End-User:
   • Hospitals
   • Specialty Clinics
   • Other End-Users

Regional Dominance: North America Takes the Lead
In 2023, North America emerged as the largest region in the sickle cell disease treatment market, highlighting the region’s pivotal role in steering the industry’s growth. As the market continues to evolve with innovations in gene therapy, drug development, and global health initiatives, it stands poised to redefine the treatment landscape for individuals living with sickle cell disease.

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The Sickle Cell Disease Treatment Global Market Report 2023  provides a comprehensive overview on the sickle cell disease treatment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the sickle cell disease treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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