Thalassemia Treatment Market Size Worth $3.93 Billion By 2033 | CAGR: 7% By The Brainy Insights

(MENAFN- GlobeNewsWire - Nasdaq) The global thalassemia treatment market size is anticipated to grow from USD 2 billion to USD 3.93 billion in 10 years. The market will experience rapid growth due to technological advancements in thalassemia treatment during the forecast period.

Newark, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2 billion in 2023 global thalassemia treatment market will reach USD 3.93 billion in 2033. Thalassemia is a hereditary illness. It describes the circumstances in which the body's capacity to manufacture haemoglobin is compromised. Anaemia is the outcome of this haemoglobin shortage. There are two different classification systems for thalassemia. One is known as beta thalassemia, and the other as alpha thalassemia. Anaemia, which manifests as pale skin, stunted growth, exhaustion, malformed bones, and heart problems, is one of the symptoms. There can be differences in the severity of these symptoms, which also influences therapy options. Minimal interventions are necessary in milder situations. To control the illnesses, the most severe cases must be closely observed every day. Innovations like gene therapy and stem cell transplants, which have the potential to treat diseases, are the result of scientific and technological advances. Treatment for thalassemia can save a patient's life and enhance their quality of life.

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Key Insight of the Global Thalassemia treatment Market

North America will dominate the market during the forecast period.

The region offers access to the latest cutting-edge therapies, diagnostics, and treatment options given its sophisticated and well-established healthcare infrastructure. Additionally, the area is home to a thriving scientific community that promotes studies aimed at improving knowledge of uncommon genetic illnesses. The creation of cutting-edge and efficient therapy alternatives is likewise fuelled by this rich research environment. Patient outcomes are improved because patients have access to healthcare professionals who are qualified, skilled, and trained. In the area, testing and diagnostic procedures also support increased knowledge and, consequently, proactive detection of uncommon genetic illnesses for prompt treatment. The regulatory environment and government encourage the market's expansion.

In 2023, the blood transfusions segment dominated the market with the largest market share of 37% and revenue of 0.74 billion.

The treatment type segment is divided into blood transfusions, iron chelation therapy, folic acid supplements and others. In 2023, the blood transfusions segment dominated the market with the largest market share of 37% and revenue of 0.74 billion.

In 2023, the beta thalassemia segment dominated the market with the largest market share of 44% and revenue of 0.88 billion.

The disease type segment is divided into alpha thalassemia and beta thalassemia. In 2023, the beta thalassemia segment dominated the market with the largest market share of 44% and revenue of 0.88 billion.

In 2023, the hospitals segment dominated the market with the largest market share of 42% and revenue of 0.84 billion.

The end user segment is divided into hospitals, super specialty clinics and others. In 2023, the hospitals segment dominated the market with the largest market share of 42% and revenue of 0.84 billion.

Advancement in market

The most recent safety and effectiveness findings from the Phase 1/2 EdiTHAL clinical trial showed that renizgamglogene autogedtemcel, sometimes referred to as reni-cel or EDIT-301, has a promising future in the treatment of transfusion-dependent beta-thalassemia (TDT).Reni-cel, which was introduced by Editas Medicine, Inc., was well-tolerated and showed an early and strong rise in both total haemoglobin and foetal haemoglobin (HbF) in EdiTHAL without the need for transfusions for up to 12.8 months. At the European Haematology Association (EHA) Hybrid Congress in Madrid, Spain, these facts were displayed in a poster.

Report Scope and Segmentation –

Report Coverage	Details
Forecast Period	2024-2033
Forecast CAGR	7%
2033 Value Projection	USD 3.93 Billion
Market Size in 2023	USD 2 Billion
Historical Data	2020-2022
No. of Pages	239
Report Coverage	Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered	Treatment Type, Disease Type and End-User
Regions Covered	The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Thalassemia treatment market Growth Drivers	The increased incidence of thalassemia

Browse Detailed Summary of Research Report with TOC:

Market Dynamics

Driver: The increased incidence of thalassemia.

Because of this population's genetic tendency, thalassemia is more common in some geographic areas, such as the Middle East, Africa, and Asia. In other nations where thalassemia was not previously prevalent, the migration patterns have led to a rise in its occurrence. Furthermore, increased awareness and diagnostic capacity have brought these cases to light, which has led to an increase in the number of thalassemia patients. Improved treatment choices and easily available healthcare facilities have increased the number of survivors, which has increased the number of recorded patients and, as a result, the official numbers. The number of people with thalassemia is rising due in part to population growth, particularly in nations where the disease is more prevalent. As a result, the growing incidence of thalassemia will propel the expansion of the global thalassemia treatment market.

Restraints: The price of treating thalassemia.

Thalassemia is an uncommon genetic disease that requires expensive medication and a range of high-end therapeutic alternatives. The main treatment for patients with thalassemia is blood transfusions, which come with expenses and logistical challenges in obtaining the necessary blood. Given how frequently blood transfusions are required for the treatment to be effective, the expenditures mount up quickly. Because of the high expense of long-term care, staff, drugs, and hospitals, most patients cannot afford the therapy. Even more expensive are the more sophisticated treatment choices, such bone marrow transplants or gene therapy. Poor healthcare coverage and infrastructure in low- and middle-income nations, where thalassemia cases predominate, further aggravate the condition. Thus, the growth of the market will be hampered by the expense of thalassemia therapy.

Opportunities: Treatments for thalassemia have advanced.

Expanding research and development efforts aimed at treating and curing uncommon genetic illnesses have improved thalassemia treatment choices. In certain cases, advancements in transfusion protocols have improved patient outcomes by making blood transfusions more affordable, safe, and effective. Moreover, pharmaceuticals that support these treatment plans have advanced, becoming safer, more effective, and having fewer adverse effects. Recent developments in gene therapy, bone marrow and stem cell transplantation, and have created hope for a solution for Opportunities for a thalassemia cure have been made possible by developments in gene therapy, bone marrow and stem cell transplants, and genome editing. The worldwide market for thalassemia treatments has additional prospects as a result of increased research and clinical studies evaluating these treatment alternatives. Thus, improvements in thalassemia treatment choices are expected to positively impact the market's expansion and growth in the coming years.

Challenges: Insufficient healthcare infrastructure.

The insufficient or poor healthcare infrastructure in low-and middle-income countries, where the prevalence of thalassemia is the highest, challenges the market's growth. the lack of infrastructure for diagnostics, treatments and therapies makes them unavailable for patients. Additionally, the high costs of these make them inaccessible for majority of the patients. The lack of public healthcare coverage translates to costly treatments at private institutions or high out of-pocket expenditure. The lack of supporting infrastructure also challenges the market. for instance, the lack of funds for awareness campaigns about thalassemia and its treatment contributes to market hinderance. Lack of comprehensive policy initiatives further hampers the market. therefore, the insufficient healthcare infrastructure hinders the market's growth.

Some of the major players operating in the global thalassemia treatment market are:

. Alvogen Inc.
. Apotex Inc.
. Bluebird Bio
. Bristol Myers Squibb Co.
. Chiesi Farmaceutici S.p.A
. Cipla Ltd.
. FRESENIUS SE & Co. KGaA
. Novartis AG
. Pfizer Inc.
. Sun Pharmaceutical Industries Limited

Key Segments covered in the market:

By Treatment Type

. Blood Transfusions
. Iron Chelation Therapy
. Folic Acid Supplements
. Others

By Disease Type

. Alpha Thalassemia
. Beta Thalassemia

By End User

. Hospitals
. Super Specialty Clinics
. Others

By Region

. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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