Report Description Report Description and Highlights

Global Hemoglobinopathies Market Trends:

The global market is majorly driven by the rising prevalence of various chronic blood disorders, including sickle cell disease (SCD) and thalassemia and anemia. This can be attributed to the growing geriatric population that is prone to developing various chronic illnesses. In addition to this, the widespread adoption of cost-effective genetic testing, usage of gene therapy and the approval of novel therapies are also creating a positive market outlook. The market is further impelled by partnerships and collaborations among major biopharmaceutical players using the latest technology platforms.

Apart from this, multiple favorable initiatives, including thalassemia screening in neonates and improved reimbursement scenarios for diagnostic tests and treatments, undertaken by the governments of several countries are impacting the market positively. Some of the other factors contributing to the market include continual developments in point-of-care diagnostics, a considerable rise in medical expenditure and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 16.3 Billion by 2028, exhibiting a CAGR of 9.39% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).