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Sickle Cell Disease Treatment Market is expected to reach US$ 4,691.87 million by 2030

The global sickle cell disease treatment market is projected to grow from USD 1,160.16 million in 2022 to reach USD 4,691.87 million by 2030.

By The Insight Partners

Oral Segment to Lead Sickle Cell Disease Treatment Market During 2022–2030

According to our latest study on "Sickle Cell Disease Treatment Market Forecast to 2030 – Global Analysis – by Treatment, Distribution Channel, and Route of Administration," the market was valued at US$ 1,160.16 million in 2022 and is projected to reach US$ 4,691.87 million by 2030; it is estimated to record a CAGR of 19.1% during 2022-2030. The report highlights the key factors driving the market and prominent players with their developments. The market growth is primarily attributed to an increasing prevalence of sickle cell disease and the government and private sector's initiatives to raise awareness about sickle cell disease. However, the lack of sickle cell disease treatment options is hindering the market growth.

Governments of various countries across the globe with a high prevalence of sickle cell disease are deploying various strategies to eradicate the disease by improving access to healthcare services, including treatment options, to the people. A few of the initiatives undertaken are as follows:

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00030312

  • In February 2023, the Government of India, through the National Health Mission, announced its plan to support states in their efforts to prevent and treat sickle cell disease. In the Union Budget 2023–2024, the government announced a mission to eliminate sickle cell anemia by 2047.
  • In 2022, the African Health Ministry launched a campaign to raise awareness, strengthen prevention, and provide medical care to reduce the number of SCD patients in the region.
  • In September 2021, Aflac initiated an awareness program with numerous educational initiatives and activities during National Sickle Cell Awareness Month. Additionally, the company announced a program for children suffering from SCD through the expansion of its My Special Aflac Duck game.
  • In June 2021, the Kidney Cancer Association (KCA) and the Sickle Cell Disease Association of America, Inc. (SCDAA) jointly launched a program called KNOW & TELL to raise awareness about treatment options for sickle cell disease and its likely connection to phasic renal carcinoma, a rare type of kidney cancer (RMC).

Thus, the abovementioned initiatives spread awareness about sickle cell disease and help in reinforcing the eradication efforts to bolster the sickle cell disease treatment market growth.

Based on route of administration, the sickle cell disease treatment market is divided into oral and parenteral. The oral segment held a larger share of the market in 2022, and it is also expected to grow rapidly during the forecast period. Oral drug delivery is the most ideal and suitable route of drug administration as it offers high patient compliance, noninvasiveness, least sterility constraints, cost-effectiveness, flexibility in the design of dosage form, and ease in the manufacturing process. Benefits such as ease of administration and long-term cost efficiency are the major factors fueling the adoption of oral drugs. Low manufacturing cost of capsules, tablets, and other orally administered drugs propel the sickle cell disease treatment market growth.

Novartis AG, Pfizer Inc, Emmaus Life Sciences Inc, Teva Pharmaceutical Industries Ltd., Bristol-Myers Squibb Company, Siklos, Mylan NV, Taj Pharmaceuticals Limited, and Apotex are among the leading companies operating in the sickle cell disease treatment market.

The report segments the sickle cell disease treatment market as follows:

Based on treatment, the sickle cell disease treatment market is divided into originators and generic drugs. Based on route of administration, the sickle cell disease treatment market is bifurcated into oral and parenteral. Based on distribution channel, the sickle cell disease treatment market is segmented into direct tender, hospital pharmacies, retail pharmacies, online pharmacies, and others. By geography, the sickle cell disease treatment market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), Middle East & Africa (Saudi Arabia, UAE, South Africa, Kenya, Tanzania, Rwanda, Nigeria, Ghana, Uganda, Angola, Cameroon, Senegal, Zambia, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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