Sickle-cell Anemia Therapeutics Market Set to Record Exponential Growth by 2025
Anemia is a condition in which blood is unable to carry the optimum amount of oxygen due to severe reduction of RBC count or hemoglobin. Sickle cell disease is an inherited group of disorders in which red blood cells distort into a sickle shape. In the early stage of their life cycle, the cells die, thereby causing deficiency of healthy red blood cells. This condition is termed as sickle-cell anemia. This is accompanied by blockage of blood flow causing pain, a condition is termed as sickle cell crisis, along with microbial infections, swelling in the limbs, and sometimes, stroke. Chronic pain could develop with age. Treatments include blood transfusions, medication, and bone marrow transplant.
Globally, and especially in Africa, governments are taking initiatives to prevent and cure sickle-cell anemia. This, in turn, will encourage manufacturers to manufacture in large quantities to meet the unmet medical demand, thereby propelling the Sickle-Cell Anemia Therapeutics Market. According to the report published by the World Health Organization (WHO), Africa has the highest prevalence of sickle-cell disease. The governing bodies of the WHO have taken initiatives to address the problem. This is likely to drive the global sickle-cell anemia therapeutics market. Demand for early detection and prevention of curable diseases, especially among the adults, is increasing. This is projected to be a key opportunity in the sickle-cell anemia therapeutics market as the percentage of the geriatric population is increasing rapidly. Moreover, demand for safe and efficient drugs is gaining momentum in the sickle-cell anemia therapeutics market. However, side effects associated with existing medications and therapies restrain the market.
The global sickle-cell anemia therapeutics market can be segmented based on medication and end-user. In terms of medication, the market can be divided into antibiotics, pain-relieving medications, and hydroxyurea. Based on end-user, the global sickle-cell anemia therapeutics market can be classified into private clinics, hospitals, and infusion centers.
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The global sickle-cell anemia therapeutics market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global sickle-cell anemia therapeutics market, followed by Europe. According to the Centers for Disease Control and Prevention, around 100,000 people in the U.S. were affected by sickle-cell diseases (SCDs) in 2016. Sickle-cell diseases are common among African Americans. Around 1 in 13 babies of African American descent are born with sickle-cell diseases.
Rise in prevalence of the disease drives demand for prevention and cure, which in turn fuels the growth of the sickle-cell anemia therapeutics market in North America. Middle East & Africa is anticipated to be the most lucrative market due to rise in the number of cases of sickle cell diseases. Asia Pacific is expected to be a significant sickle-cell anemia therapeutics market in the near future. Adoption of new techniques for treatment and growing awareness about sickle-cell anemia in countries such as India and China is expected to create a large opportunity for the players in Asia Pacific.
Key players in the global sickle-cell anemia therapeutics market are Bristol-Myers Squibb, Baxter, Daiichi Sankyo, Bluebird Bio, Eli Lilly and Company, GlycoMimetics, HemaQuest Pharmaceuticals, Emmaus Medical, Mast Therapeutics, Merck Sharp & Dohme, Pfizer, and Selexys Pharmaceuticals.
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