Global Sickle Cell Disease Treatment Market 2019-2023
About this market
Strong pipeline of drugs to drive market growth. The pipeline for sickle cell disease comprises strong pharmaceutical companies with novel therapies in the late stages of clinical trials and various mid and small pharmaceutical companies with early-stage pipeline drugs. The strong efficacy of these drugs in the early stages of clinical trials has led to a positive opinion from the regulatory bodies. Thus, helping the vendors with quick development of these drugs. Technavio’s analysts have predicted that the sickle cell disease treatment market will register a CAGR of over 11% by 2023.
High prevalence of sickle cell disease
The global sickle cell disease treatment market has witnessed a significant increase in the number of cases of sickle cell diseases in recent years. For instance, according to the CDC. in 2017, sickle cell diseases affected approximately 100,000 Americans. While it is rather rare in Hispanic-Americans and Asian-Americans, the disease is more common in African-Americans, with the prevalence being as high as one per every 365 people.
Lack of approved therapies
Despite blood transfusion being heavily used to treat sickle cell diseases, the market faces a major challenge from the lack of approved therapies. Currently, the market has only three approved therapies for sickle cell diseases, and six molecules are in Phase Ill of clinical trials.
For the detailed list of factors that will drive and challenge the growth of the sickle cell disease treatment market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Novartis and Pfizer the competitive environment is quite intense. Factors such as the high prevalence of sickle cell disease and the strong pipeline of drugs, will provide considerable growth opportunities to sickle cell disease treatment manufactures. ADDMEDICA, Bristol-Myers Squibb, Emmaus Medical, Novartis, and Pfizer are some of the major companies covered in this report.
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