Global Beta-Thalassemia Market Insights Forecasts to 2030
- The global Beta-Thalassemia Market was valued at USD 411.8 million in 2021.
- The market is growing at a CAGR of 8% from 2021 to 2030
- The global Beta-Thalassemia Market is expected to reach USD 823.1 million by 2030
- The Asia Pacific is expected to grow the fastest during the forecast period
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The global Beta-Thalassemia Market is expected to reach USD 823.1 million by 2030, at a CAGR of 8% during the forecast period 2021 to 2030. Over the next few years, the market is expected to grow because more people around the world will have beta-thalassemia. For example, a global biopharmaceutical company called Bristol-Myers Squibb Company put out a report in November 2018 saying that about 1.5% of the world's population, or between 80 and 90 million people, carry the beta-thalassemia gene. Even though beta-thalassemia is not very common in the United States, it is thought that 1.25 million people, or 0.4% of the population, are carriers. Also, the same source says that there are about 2,000 people in the United States who have thalassemia, and 1,000 of these people have -thalassemia major.
Beta-thalassemia is a type of blood disorder. A disease that is passed down from parent to child in which the body makes a lot less hemoglobin than usual. Hemoglobin is the name for the protein in red blood cells that has iron in it and is called by that name. It is in charge of carrying oxygen to all the cells in the body. Because the hemoglobin level is low, there will be even less oxygen in many parts of the body. Beta-thalassemia is caused by changes in the HBB gene. The HBB gene is in charge of sending the instructions needed to make beta-globin, which is a protein. This illness has many symptoms, such as anemia, trouble breathing, fatigue, a fast heart rate, irritability, jaundice, and slow development, to name a few. The disease called beta-thalassemia is also called Mediterranean anemia. The rise in the number of people with thalassemia will be a major factor in the growth of the market. The rate of growth of the beta-thalassemia market is also affected by other important factors, such as the rising cost of medical treatment. The beta-thalassemia market will also grow because of improvements in medical technology, more efforts by public and private groups to raise awareness, and more money from the government. The growth rate of the beta-thalassemia market is likely to be helped by other things, such as the growing need for effective medicines and the growing number of older people. The beta-thalassemia industry will also grow because of things like changing lifestyles and more people spending money on things they don't have to. The growth of the beta-thalassemia market will also be helped by a rise in the number of people who get genetic testing done early and the number of people who seek genetic counseling.
This research report categorizes the market for the global based Beta-Thalassemia Market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global Beta-Thalassemia Market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each global Beta-Thalassemia Market sub-segments.
Global Beta-Thalassemia Market Report Coverage
|Market Size in 2021:||USD 411.8 million|
|Forecast Period 2021-2030 CAGR:||8%|
|2030 Value Projection:||USD 823.1 million|
|Historical Data for:||2017-2020|
|No. of Pages:||240|
|Tables, Charts & Figures:||106|
|Segments covered:||By Treatment, By Disease Indication, By Region, COVID-19 Impact Analysis|
|Companies Covered:||Celgene Corp., BlueBird Bio, Agios Pharmaceuticals, Ionis Pharmaceuticals, Vifor Pharma, Orchard Therapeutics, Sangamo Therapeutics|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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- In 2021, the Iron chelating drugs segment dominated the market with the largest market share of 30% and market revenue of 123.5 million.
Based on the treatment, the Beta-Thalassemia Market is categorized into Iron Chelating Drugs, Erythyroid maturation agents, Stem Cell therapy, and Others. In 2021, the iron chelating drugs segment dominated the market with the largest market share of 30% and market revenue of 123.5 million. At this time, the standard way to treat thalassemia is to treat the symptoms instead of trying to find a cure. Medications for the disorder mostly treat iron overload caused by blood transfusions, as well as fetal hemoglobin-raising medications, vitamin supplements, and indicaxanthin, an antioxidant that stops hemoglobin from breaking down. If medications that are currently in phase II or phase III trials are approved by the FDA, it is expected that the market for iron-chelating agents will offer many opportunities for business growth. In developed places like North America and Europe, the market is being driven by the introduction of new treatment methods and a greater understanding of the many treatment methods that are already available. Due to a large number of young people in growing markets like India and Pakistan, there is likely to be more demand for medicines and treatments for thalassemia in the coming years.
- In 2021, the Beta Thalassemia Minor services segment accounted for the largest share of the market, with 40% and market revenue of 164.7 million.
Based on disease indication, the Beta-Thalassemia Market is categorized into Beta Thalassemia Minor, Beta Thalassemia Intermediate and Beta Thalassemia Major. In 2021, Beta Thalassemia Minor dominated the market with the largest market share of 40% and market revenue of 164.7 million. People who have beta thalassemia minor have low amounts of hemoglobin, which causes an inadequate supply of oxygen. Those who are affected furthermore have a deficiency of red blood cells, which is known medically as anemia. This deficiency can result in a number of symptoms, including pale complexion, weakness, weariness, and more serious consequences. Those who have beta thalassemia have a higher chance of producing abnormal blood clots than the general population.
Regional Segment Analysis of the Beta-Thalassemia Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, the U.K., 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)
Among all regions, North America emerged as the largest market for the global Beta-Thalassemia Market, with a market share of around 38.4% and 411.8 million of the market revenue in 2021.
- In 2021, North America emerged as the largest market for the global Beta-Thalassemia Market, with a market share of around 38.4% and 411.8 million of the market revenue. Because people are spending more money on medication and an increase in disease. The government is also starting initiatives to increase awareness about the disease.
- The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030. Because Singapore, India, and Hong Kong are all places with growing economies and financial hubs, it is expected that the area will grow a lot in the coming years.
The report offers the appropriate analysis of the key organizations/companies involved within the global Beta-Thalassemia Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Celgene Corp.
- BlueBird Bio
- Agios Pharmaceuticals
- Ionis Pharmaceuticals
- Vifor Pharma
- Orchard Therapeutics
- Sangamo Therapeutics
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In November 2019, the US Food and Drug Administration approved Reblozyl (luspatercept–aamt) to treat anemia (a lack of red blood cells) in adults with beta-thalassemia who need frequent red blood cell (RBC) transfusions.
- In September 2021, Bluebird bio, a biotechnology company in the United States, said that they had sent an official request for approval of their beti-cel gene therapy as a treatment for beta-thalassemia to the right people in the United States.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Beta-Thalassemia Market based on the below-mentioned segments:
Global Beta-Thalassemia Market, By Treatment
- Iron Chelating Drugs
- Erythyroid maturation agents
- Stem Cell therapy
Global Beta-Thalassemia Market, By Disease Indication
- Beta Thalassemia Minor
- Beta Thalassemia Intermediate
- Beta Thalassemia Major
Global Beta-Thalassemia Market, Regional Analysis
- North America
- THE US
- Rest of Europe
- The Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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