Global Thalassemia Market Insights Forecasts to 2033

• The Global Thalassemia Market Size was Valued at USD 2.8 Billion in 2023
• The Market Size is Growing at a CAGR of 5.76% from 2023 to 2033
• The Worldwide Thalassemia Market Size is Expected to Reach USD 4.9 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period

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The Global Thalassemia Market Size is Anticipated to Exceed USD 4.9 Billion by 2033, Growing at a CAGR of 5.76% from 2023 to 2033.

 

Market Overview

Thalassemia is a heterogeneous group of blood disorders affecting the hemoglobin genes and resulting in ineffective erythropoiesis. It is one of the most common hereditary diseases in the world, characterized by the deficiency of hemoglobin synthesis which is caused by mutations in the α, β, and δ globin genes, resulting in ineffective erythropoiesis. Blood transfusion solutions and chelation therapy are among the common treatments for thalassemia. Deferasirox, a chelation therapy drug, treats the chronic iron overloads that occur during frequent blood transfusions. The advances in the field of cell biology and regenerative medicine have led to the development of stem cell therapy which is gaining traction for the treatment of thalassemia, especially for severe cases. The introduction of the clinical use of oral iron chelators and the development of non-invasive methods for the assessment of specific organ iron overload. These two major advances have substantially changed the prognosis of the patients with thalassemia. The increase in advancements for developing gene therapy for a specific type of thalassemia leveraging market opportunities.

 

Report Coverage

This research report categorizes the market for the global 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 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 sub-segment of the global thalassemia market.

 

Driving Factors

Gene therapy, gene editing, and base editing are emerging as powerful approaches to treating thalassemia. For instance, FDA approval for exagamglogene autotemcel (Casgevy, Vertex), a CRISPR/Cas9 gene-edited cell therapy, to include the treatment of transfusion-dependent beta-thalassemia (TDT) in patients ages 12 and older. Thus, the launch of various curative therapies for thalassemia, and new gene therapies for specific types of thalassemia positively affected market growth. The surge in stem cell therapy owing to the rise in funding for stem cell research increases the number of cell therapy production facilities escalating the market growth. The development of improved healthcare infrastructure owing to the demand for enhanced healthcare services and significant investments by the government for expanding accessibility to healthcare are contributing to market growth. The increased prevalence of thalassemia in neonatal along with the rise in infrastructure for newborn screening for thalassemia with proper treatment regimes is upsurging the market growth. The increasing adoption of various screening techniques during pregnancy for early prenatal screening and detection for early diagnosis of congenital defect genetic abnormalities and proper counseling regarding thalassemia during pregnancy are bolstering the global thalassemia market.

 

Restraining Factors

The specialized raw materials and manufacturing processes are increasing the cost of gene therapy resulting in restraining the market. Further, the side effects associated with thalassemia therapy are hampering the global thalassemia market.

 

Market Segmentation

 

The global thalassemia market share is classified into treatment type, type, and distribution channel.

• The iron chelation therapy segment is expected to hold the largest share of the global thalassemia market during the forecast period.   

Based on the treatment type, the global thalassemia market is categorized into iron chelation therapy, erythroid maturation agents, and others. Among these, the iron chelation therapy segment is expected to hold the largest share of the global thalassemia market during the forecast period. Iron chelation therapy is essentially used to reduce iron accumulation in patients with thalassemia. The increasing prevalence of thalassemia along with the growing awareness of iron chelation therapy for thalassemia are driving demand.

 

• The alpha thalassemia segment is anticipated to grow at the fastest CAGR during the forecast period.

Based on the type, the global thalassemia market is categorized into alpha thalassemia and beta thalassemia. Among these, the alpha thalassemia segment is anticipated to grow at the fastest CAGR during the forecast period. Alpha thalassemia is caused by a mutation in the gene that controls the quantity of alpha globin making. The rising R&D activities for alpha thalassemia are significantly driving market growth.

 

• The online providers segment is expected to grow at the highest CAGR through the forecast period.

Based on the distribution channel, the global thalassemia market is categorized into hospital pharmacies, online providers, and drug stores & retail pharmacies. Among these, the online providers segment is expected to grow at the highest CAGR through the forecast period. The benefits of online purchasing include convenience and accessibility of the service and the drugs can be purchased at reduced prices. There is an increasing demand for online providers offering thalassemia drugs. The online buying of thalassemia drugs prevents hospitals visits for treatment.

 

Regional Segment Analysis of the Global Thalassemia Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, 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)

 

North America is anticipated to hold the largest share of the global thalassemia market over the predicted timeframe.

 

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North America is projected to hold the largest share of the global thalassemia market over the forecast period. The increasing prevalence of thalassemia in the region and the rise in spending on health infrastructure are driving the regional market growth. The increasing technological innovations and advancements for thalassemia gene therapy in the region are responsible for augmenting the market growth. Further, the increased contract manufacturing organizations in the region and the adoption of key strategies such as acquisitions, collaborations, and partnerships by the key market players are bolstering the market in the region.

 

Asia Pacific is expected to grow at the fastest CAGR growth of the global thalassemia market during the forecast period. The investments in the manufacturing of thalassemia drugs and gene therapy are propelling the market growth. The presence of major market players in the region and advancement in manufacturing technologies are contributing to regional market growth. Further, the organization of education camps and the presence of well-established healthcare organizations are significantly contributing to driving the market. The high prevalence of neonatal thalassemia especially in India and increasing spending on genetic disorders are anticipated to drive the market in the region.   

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global 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 current news and developments of the companies, which includes 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 Companies

• Bluebird Bio, Inc.
• Novartis AG
• Bristol Myers Squibb
• Chiesi Farmaceutici S.p.A.
• Alvogen Inc.
• Cipla Ltd.
• Pfizer Inc.
• Sun Pharmaceutical Industries Ltd.
• Apotex Inc.
• FRESENIUS SE & Co. KGaA
• Acceleron Pharma, Inc.
• CRISPER Therapeutics AG
• Gamida Cell Ltd.
• Sangamo Therapeutics, Inc.
• Editas Medicine, Inc.
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In November 2023, Vertex Pharmaceuticals Incorporated and CRISPR Therapeutics announced that the United Kingdom (U.K.) Medicines and Healthcare products Regulatory Agency (MHRA) has granted conditional marketing authorization for CASGEVY (exagamglogene autotemcel [exa-cel]), a CRISPR/Cas9 gene-edited therapy, for the treatment of sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT).
• In April 2022, Himalaya Wellness Company, one of India's leading wellness brands, partnered with Sankalp India Foundation (SIF) to make Thalassemia treatment accessible to underprivileged children.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global thalassemia market based on the below-mentioned segments: 

 

Global Thalassemia Market, By Treatment Type

• Iron Chelation Therapy
• Erythroid Maturation Agents
• Others

 

Global Thalassemia Market, By Type

• Alpha Thalassemia
• Beta Thalassemia

 

Global Thalassemia Market, By Distribution Channel

• Hospital Pharmacies
• Online Providers
• Drug Stores & Retail Pharmacies

 

Global Thalassemia Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa