Technavio analysts forecast the sickle-cell anemia therapeutics market in the US to grow at a CAGR of over 15% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the sickle-cell anemia therapeutics market in the US from 2018-2022. (Graphic: Business Wire)
Orphan drug designations for sickle-cell anemias are one of the major trends being witnessed in the sickle-cell anemia therapeutics market in the US 2018-2022. The prevalence rate of sickle-cell anemia is usually lower than the other mainstream indications such as diabetes and hypertension, as it is a rare disorder. Hence, drug companies refrain from investing large amounts in R&D of drug discovery. To overcome such hurdles, regulatory bodies have granted orphan drug designation which will support the pipeline of therapeutics for the treatment of sickle-cell anemia.
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According to Technavio analysts, one of the key factors contributing to the growth of the sickle-cell anemia therapeutics market in the US is the initiatives to increase awareness about sickle-cell anemia:
Sickle-cell anemia therapeutics market in the US: Initiatives to increase awareness about sickle-cell anemia
Sickle-cell anemia is the specific type of rare genetic sickle-cell disease; therefore, patients are unable to observe the symptoms very early. Early screening, diagnosis, and treatment will allow people with sickle-cell anemia to live much longer. Therefore, it is crucial to provide awareness about early screening, diagnosis, and treatment of sickle-cell diseases. Many organizations are conducting awareness programs to increase the awareness of sickle-cell anemia.
According to a senior analyst at Technavio for research on pharmaceuticals, “Millions of people do not know they have sickle-cell trait, as the trait usually does not cause illness. In countries such as the US, most of the patients diagnosed with sickle-cell anemia experience acute pain, infections, and costly hospitalization. Thus, numerous initiatives are being undertaken by different organizations to improve patient access to therapies and care.”
Sickle-cell anemia therapeutics market in the US: Segmentation analysis
The sickle-cell anemia therapeutics market in the US research report provides market segmentation by therapy (hydroxyurea and L-glutamine therapy). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The hydroxyurea segment held the largest market share in 2017. This therapy segment is expected to dominate the global market throughout the forecast period.
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Market Landscape
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Five Forces Analysis
Market Segmentation
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- Vendors covered
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