Thalassemia Market: Global Industry Analysis and Forecast (2023-2029)

Thalassemia Market size was valued at US$ 3.49 Bn. in 2022 and the total revenue is expected to grow at 9.8% through 2022 to 2029, reaching nearly US$ 6.72 Bn.
Thalassemia Market Overview:
Thalassemia is a hereditary (i.e., passed down through the generations) blood illness characterized by the body's inability to produce enough hemoglobin, a key component of red blood cells. When the body's red blood cells don't have enough hemoglobin, they don't function effectively and survive for shorter periods, resulting in fewer healthy red blood cells flowing through the bloodstream.

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Thalassemia Market Dynamics:
By 2029, the Thalassemia Market is expected to reach US $ 6.72 billion, thanks to growth in the industrial product segment. The report analyzes Thalassemia Market dynamics by region and Pipeline industries.

Thalassemia is a rare genetic blood illness marked by the creation of defective hemoglobin, which causes the loss of red blood cells and results in anemia. Currently, the only therapy choices are blood transfusions and iron chelation therapies. This creates a plethora of market prospects for the development of a universal thalassemia treatment. According to the Thalassemia International Federation, around 7.0 % of the world's population is affected by hemoglobin-related diseases and ailments, with 70.0 % having sickle cell anemia and the rest developing thalassemia or other blood disorders. Around 2.1 percent of the world's population has thalassemia in one form or another. Around 4.4 out of every 10,000 live births in the world are affected by this condition.

Greece, Turkey's coastal regions, some portions of Italy, important Mediterranean islands like Cyprus, and South Asian countries like the Maldives and India are the most affected. Thalassemia is an orphan or rare disease in the United States, affecting fewer than 20,000 people. The tropical regions, such as Nigeria, Sudan, Chad, Columbia, and a few South Asian countries, are more likely to have significant numbers of patients with alpha thalassemia. Research institutes and pharmaceutical businesses, expanding alpha thalassemia testing usage and technological improvements, and increased awareness are some of the reasons driving the region's alpha thalassemia market expansion. A large number of alpha thalassemia patients can be found in a few Asian nations, such as Myanmar and Thailand.
Thalassemia Market Segment Analysis:
The Iron Chelating Drugs segment is dominating the Therapeutic Class segment of the Thalassemia Market:

Thalassemia is currently managed by symptomatic treatment rather than cure. Iron overload from blood transfusions, vitamin supplements, fetal hemoglobin raising medications, and indicaxanthin, an antioxidant that prevents hemoglobin breakdown, are among the most common treatments for the illness. If medications now in phase II/III trial pipeline achieve regulatory approval, the market for thalassemia treatments is projected to be quite lucrative. In developed regions such as North America and Europe, the market is driven by increased awareness of existing treatment modalities and the launch of novel treatment approaches. In addition, demand for thalassemia medications and treatments is expected to rise in growing markets such as India and Pakistan in the next years due to a huge youth population.

The Gene Therapy segment is leading the Pipeline segment of the Market:

With multiple genomic products in late-stage studies, gene therapy is likely to be a huge success among other developing curative medicines. For the treatment of thalassemia, there are currently 15 pipeline drugs in clinical studies. The majority of these items are based on gene therapy and are aimed at curing the disease. In addition, the top-line main and secondary endpoint findings from these medications' clinical trials were positive. Despite major clinical development obstacles and regulatory uncertainty, gene therapy has the potential to transform the thalassemia therapeutic landscape.
Thalassemia Market Regional Insights:
North America is estimated to dominate the growth of the Market.

Throughout the projected period, North America is expected to dominate the global thalassemia treatment market. Factors such as the existence of important companies, the high prevalence of thalassemia patients in the region, and established healthcare infrastructure are some of the key factors responsible for the market's huge share. Furthermore, favorable government efforts and an increase in the number of research partnerships are projected to propel the market forward. The United States has the largest percentage due to increased knowledge of the disorder, an increase in the number of people with the thalassemia carrier gene, and an increase in birth rates due to population genetic variation.

The objective of the report is to present a comprehensive analysis of the Thalassemia Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Thalassemia Market dynamics, structure by analyzing the market segments and projecting the Thalassemia Market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the Thalassemia Market make the report investor’s guide.
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Global Thalassemia Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 3.49Bn.


Forecast Period 2023 to 2029 CAGR:
9.8%
Market Size in 2029:
US $ 6.72 Bn.


 Segments Covered:
by Product
Iron Chelating Drugs
Exjade/Jadenu (deferasirox)
Blood Transfusions
Folic Acid Supplements
Others


by Type
Gene Therapy
LentiGlobin



Thalassemia Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Thalassemia Market Key Player
1. bluebird bio, Inc.
2. Acceleron Pharma, Inc.
3. Celgene Corporation
4. GlaxoSmithKline plc
5. Incyte Corporation
6. Gamida Cell
7. Kiadis Pharma
8. La Jolla Pharmaceutical Company
9. IONIS Pharmaceuticals
10. Acceleron Pharma
11. Novartis AG
12. Pharmaceuticals Inc
13. Alnylam Pharmaceuticals Inc
14. Calimmune Inc
15. CRISPR Therapeutics
16. Editas Medicine Inc
17. Errant Gene Therapeutics LLC
18. Gamida Cell Ltd
19. Gilead Sciences Inc
20. Incyte Corp
21. Ionis Pharmaceuticals Inc
FAQs:
1. What is the Thalassemia Market value in 2022?
Ans: Thalassemia Market value in 2022 was estimated as 3.49 Billion USD.

2. What is the Thalassemia Market growth?
Ans: The Thalassemia Market is anticipated to grow with a CAGR of 9.8% in the forecast period and is likely to reach USD 6.72 Billion by the end of 2029.

3. Which segment is expected to dominate the Thalassemia Market during the forecast period?
Ans: North America is expected to dominate the global thalassemia treatment market. Factors such as the existence of important companies, the high prevalence of thalassemia patients in the region, and established healthcare infrastructure are some of the key factors responsible for the market's huge share.

4. Who are the key players in the Thalassemia Market?
Ans: Some key players operating in the thalassemia market include bluebird bio, Inc.; Acceleron Pharma, Inc.; Celgene Corporation; GlaxoSmithKline plc; Incyte Corporation; Gamida Cell; Kiadis Pharma; La Jolla Pharmaceutical Company; and IONIS Pharmaceuticals.

5. What is the key driving factor for the growth of the Thalassemia Market?
Ans: Key factors that are driving the market growth include an increase in awareness about available treatment options and a rise in demand for improved curative gene therapies.