Published Date: 30-Nov-2022
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According to a new report, published by KBV research, The Global Hemoglobinopathies Market size is expected to reach $6.0 billion by 2028, rising at a market growth of 5.6% CAGR during the forecast period.
The Sickle Cell Disease market is experiencing a CAGR of 5.8% during (2022 - 2028). It is because sickle cell disease is the most widely found hemoglobinopathy, which is caused due to the substitution of a single nucleotide which eventually causes the sickling of the red blood cell and the tendency to polymerize hemoglobin. Sickle cells cause vaso-occlusive complications, damaging multiple organs. Newborn screening, vaccination programs, penicillin prophylaxis, and early detection of cerebral vasculopathy with transcranial doppler have helped several patients with SCD.
The Drug Stores & Retail Pharmacy market is leading the Global Hemoglobinopathies Market by Distribution Channel in 2021; thereby, achieving a market value of $3.4 Billion by 2028. Due to the reliability of drug stores and retail pharmacies as they provide medication and treatment based on a physician’s prescription with the right amount of dose and route of administration. Large drug store chains, supermarkets or general retailers, and neighborhood drug stores are usually what make up a retail drug store industry. Even though drug stores can be found everywhere, there is strong competition in the industry to hold and add new customers.
The Hydroxyurea market is exhibiting a CAGR of 6.2% during (2022 - 2028). It is because Hydroxyurea which is an S-phase medication that works by reversing inhibits ribonucleoside diphosphate reductase enzyme, which activates an important step in DNA biosynthesis. Hydroxyurea has been approved for the treatment of acute SCD in adults. Hydroxyurea is currently recommended for non-transfusion-dependent beta-thalassemia and SCD. It can downgrade many difficulties related to SCD, like acute chest syndrome and extreme reoccurring pain, which might lead to a reduction in the number of hospitalization and high chances of survival.
The North America market dominated the Global Hemoglobinopathies Market by Region in 2021; thereby, achieving a market value of $2.2 Billion by 2028. The Europe market is anticipated to witness a CAGR of 5.2% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 6.1% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abbott Laboratories, Sanofi S.A., Danaher Corporation, Pfizer, Inc. (Global Blood Therapeutics, Inc.), Merck & Co., Inc., Bristol Myers Squibb Company, Alnylam Pharmaceuticals, Inc., Emmaus Life Sciences, Inc., Biogen, Inc. and Canthera Discovery Ltd.
By Distribution Channel
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