Pune, Oct. 13, 2020 (GLOBE NEWSWIRE) -- Increasing impetus to research on gene therapy to treat sickle cell disease is a key factor contributing to the global sickle cell disease treatment market, says Fortune Business Insights in a report, titled “Sickle Cell Disease Treatment Market Size, Share and Global Trend by Treatment (Blood Transfusions, Medications, Bone Marrow Transplant, Others) and Geography Forecast till 2026.” The rising prevalence of sickle disease around the world is driving the global sickle cell disease treatment market.
Key Industry Developments:
- In December 2018, Global Blood Therapeutics Inc., FDA granted Rare Pediatric Disease and Fast Track, Orphan Drug designations to Voxelotor, an oral therapy for the treatment of sickle cell disease in U.S.
- In July 2017, Emmaus Medical, Inc., Endari received FDA approval for treatment of severe complications associated with sickle cell disease in adult and paediatric (above 5 years) patients. Endari is the second drug to be approved by the FDA.
Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
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Approval of Vexelotor by FDA Will Accelerate Growth
Global Blood Therapeutics (GBT), launched Voxelotor after receiving the Breakthrough Therapy Designation (BTD) from the FDA. Voxelotor, (previously called GBT440), will be used for the treatment of sickle cell disease (SCD). The launch of the new drug is predicted to boost the global sickle cell disease treatment revenue owing to the FDA’s decision to grant Voxelotor the first Breakthrough Therapy designation for the treatment of sickle.
Furthermore, FDA approval for the treatment of severe complications associated with sickle cell disease is also expected to aid growth of the global sickle cell disease treatment market. For instance, Emmaus Medical, Inc., Endari received FDA approval for treatment of severe complications associated with sickle cell disease in adult and pediatric (above 5 years) patients. Endari is the second drug to be approved by the FDA.
The COVID-19 pandemic has created widespread economic upheaval, gravely affecting industries in a variety of ways. While governments are taking exigent measures to bring their economies back on track, recovery from this crisis is likely to be slow, painful, and protracted. In this scenario, having comprehensive information about different markets is vital for your business. We, at Fortune Business Insights™, offer an in-depth analysis of the impact of the coronavirus outbreak on this market, based on our years of experience and expertise in market intelligence.
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Rising Prevalence of Sickle Disease Will Offer Huge Growth Opportunities for The Market
The increasing focus on sickle studies by various institutions and pharmaceutical companies for the treatment of the sickle cell diseases along with rising R&D activities on gene therapy to treat sickle cell diseases as well government funding are factors expected to support sickle cell disease treatment growth during the forecast period. According to the National Institutes for Children’s Health Quality, one out of every 365 African American children are born with sickle cell disease every year.
Furthermore, the rapidly increasing cases of sickle cell disease globally is predicted to further stimulate growth of the global sickle cell disease treatment market. However, the presence and development of limited therapies for sickle cell disease and poor adherence to therapy are factors majorly affecting and thus expected to hamper the growth of the global sickle cell disease treatment market.
New Product Launches and Increasing Research Will Favor Growth In North America
Geographically, the global sickle cell disease treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominated the global sickle cell disease treatment market in 2018 and is predicted to continue dominating during the forecast period new product launches and increasing R&D activities on rare diseases is boosting growth in the region.
Further, the potential launch of pipeline drugs and rapid adoption of novel therapeutics are also some of the factors anticipated to contribute to growth in North America. Europe and the Asia Pacific are predicted to grow at a considerable rate owing to the increasing government support and rising awareness about rare diseases. For instance, the European Medicines Agency (EMA), included Voxelotor among its Priority Medicines (PRIME) program, implying growth in the sickle cell disease treatment market in Europe.
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List of the major companies in the global sickle cell disease treatment market:
- Emmaus Medical Inc.
- Bluebird bio Inc.
- Imara Inc.
- Modus Therapeutics
- Global Blood Therapeutics Inc.
- Vertex Pharmaceuticals Incorporated
Segmentation of the Global Sickle Cell Disease Treatment Market:
By Treatment
• Blood Transfusions
• Medications
• Bone Marrow Transplant
• Others
By Geography
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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