In a recent published report, Kenneth Research has updated the market report for Sickle Cell Anemia Therapeutics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Sickle Cell Anemia Therapeutics Market products.
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Kenneth Research has recently added a report titled Sickle Cell Anemia Therapeutics Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
Sickle Cell Anemia Therapeutics Market: Introduction
Drastic reduction in total number of RBC count is called as anemia, which can be defined as the incapability to transport optimum oxygen by various blood cells. This disease inherits various types of genetical blood disorders.
Most common type of sickle cell disease is the sickle cell anemia. This disorder gives rise to a specific hemoglobin irregularity, particularly in the protein which transfers oxygen in the blood. This health disorder might lead to several health problems including microbial infections, pain attacks are known as sickle cell crisis, swelling in the limbs, and in most cases, it may cause a stroke.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Market Dynamics
According to the WHO, nearly 5% of the global population can get affected by the sickle cell anemia disease. In some regions, this percentage is nearer to 25%. WHO estimates derived that the sickle cell disease occurrences can be highest in the Africa region. In order to meet this high disease prevalence, WHO has taken several initiatives to reduce these incidences.
Moreover, according to PLOS Medicine, occurrences of sickle cell anemia disease will likely rise by 30% by the end of 2050, particularly in sub-Saharan Africa. Due to these factors, there will be a significant rise in demand for treatment, which will eventually drive the global sickle cell anemia therapeutics market over the forecast period.
Moreover, there are several new technologies, which are under development for treating this disease, such as gene therapy, bone marrow transplantation, which will further open new opportunity ventures for the growth of global sickle cell anemia therapeutics market over the projected period.
Lack of treatment facilities, coupled with under-developed health care infrastructure in the Africa region might show a negative impact on the growth of global sickle cell anemia therapeutics market over the projected period.
By Medication
Based on medication, the global sickle cell anemia therapeutics market has been segmented into pain-relieving medications, hydroxyurea, anti-biotics, chronic cell transfusion, stem cell transplantation, and other medications such as antimetabolites, analgesics, vaccines, and folic acids. Hydroxyurea will witness high preference for the treatment of sickle cell anemia, owing to the drug’s safety, coupled with lower treatment costs.
Regional Insights
North America sickle cell anemia therapeutics market is expected to dominate the global market over the projected period. According to the Centers for Disease Control and Prevention, more than 100,000 people in the U.S. alone were affected by this disease in 2016. Rise in disease incidences among the Americans, will significantly drive the demand for prevention and cure of sickle cell anemia disorder, which will further fuel the regional market growth over the projected period.
Africa sickle cell anemia therapeutics market is anticipated to hold the prime market share over the forecast period, owing to the increasing number of sickle cell diseases cases in the African region. Asia Pacific sickle cell anemia therapeutics market is expected to be driven by the adoption of new healthcare techniques for the treatment of this disease. Moreover, growing awareness among the population of India and China about this disease will further create a large opportunity venture for the key market players in the Asia Pacific.
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Competitive Landscape
Some of the prominent players in the global sickle cell anemia therapeutics market include Baxter, Bristol-Myers Squibb, Modus Therapeutics AB, Bluebird Bio, Daiichi Sankyo, GlycoMimetics, Eli Lilly and Company, HemaQuest Pharmaceuticals, Emmaus Medical, Merck Sharp & Dohme, Mast Therapeutics, Selexys Pharmaceuticals, and Pfizer among several others.
To improve the treatment facilities, various key players are providing their support to other players in the form of investments. For instance, in July 2018, HealthCap invested US$ 6.63 million in Modus Therapeutics AB. This investment will help Modus Therapeutics AB to complete their phase 2 trials with sevuparin among patients suffering from sickle cell disease
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