Global Hemoglobinopathies Treatment Market 2019-2023
About this market
Development of gene therapy to drive growth in the market. The advances of regenerative medicines in the clinical phases are expected to fuel growth of the global hemoglobinopathies treatment market. Technavio’s analysts have predicted that the hemoglobinopathies treatment market will register a CAGR of almost 11% by 2023.
Strong pipeline and expected approvals of late-stage molecule
The market is witnessing an acute lack of approved therapies, these late-stage pipeline molecules are expected to gain momentum during the forecast period, which will fuel the market growth.
Product recalls and tedious drug approval process
The strict regulations for providing the marketing approval for therapeutics that are being developed for the treatment of hemoglobinopathies is likely to pose a threat to the market.
For the detailed list of factors that will drive and challenge the growth of the hemoglobinopathies treatment market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Medunik USA and Novartis the competitive environment is quite intense. Factors such as the strong pipeline and expected approvals of late-stage molecule and the development of gene therapy, will provide considerable growth opportunities to hemoglobinopathies treatment manufactures. ApoPharma, Bristol-Myers Squibb, Emmaus Medical, Medunik USA, and Novartis are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Hemoglobinopathies Treatment Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the development of gene therapy.”
According to the report, one of the major drivers for this market is the strong pipeline and expected approvals of late-stage molecule.
Further, the report states that one of the major factors hindering the growth of this market is the product recalls and tedious drug approval process.