Global Hemoglobinopathy Treatment Drugs Market, by Drug Type (Analgesics, Antibiotics, ACE Inhibitors, Hydroxyurea, and Others), by Disease Type (Thalassemia, Sickle Cell Disease, and Other Hb Variants Diseases), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 3.3 billion in 2020 and is expected to exhibit a CAGR of 8.4% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Hemoglobinopathy Treatment Drugs Market - Impact of Coronavirus (Covid-19) Pandemic
Blood disorders are one of the major causes of death worldwide. Therefore, demand for hemoglobinopathy treatment drugs have not reduced during the COVID-19 pandemic. Thus, COVID-19 pandemic has not negatively impacted hemoglobinopathy treatment drugs market growth. The COVID-19 infection presents particular challenges and dangers to patients with hemoglobin disorders. Hemoglobin disorders are generally not associated with respiratory conditions. However, complications involving the heart, lungs, and the immune system, can be present in these patients and in a SARS-CoV-2 positive patient, it may trigger very serious complications. Due to the lockdowns in many countries across the globe, many patients with blood disorders at home are not able to receive prescribed medications due to the shutdown on transportation.
The increasing number of product approvals and launches, clinical trials of hemoglobinopathy treatment drugs, and collaborations and partnerships among key players are the major factors that are expected to drive growth of the hemoglobinopathy treatment drugs market during the forecast period.
The launch of new advanced hemoglobinopathy treatment drugs in the market is expected to contribute significantly to the hemoglobinopathy treatment drugs market growth. For instance, in November 2019, the U.S. Food and Drug Administration (FDA) approved crizanlizumab-tmca ADAKVEO, by Novartis to reduce the frequency of vaso-occlusive crises (VOCs) in adults and pediatric patients aged 16 years and older with sickle cell disease. The recommended dose is 5 mg/kg intravenously over a period of 30 minutes on week 0, 2, and every 4 weeks thereafter. The most common adverse reactions (>10%) in patients receiving crizanlizumab-tmca were nausea, arthralgia, back pain, and pyrexia.
Rising clinical trials for hemoglobinopathy treatment drugs is expected to boost growth of the hemoglobinopathy treatment drugs market during the forecast period. For instance, in March 2019, Cambridge, Massachusetts-based Imara Inc. announced that it raised US$ 63 million Series B funding round, led by new investors OrbiMed and Arix Bioscience. The company raised the funds for the development of its lead product candidate, IMR-687, which is currently in a Phase II-a trial in sickle cell disease, and move it into later-stage clinical trials. IMR-687 is an inhibitor of phosphodiesterase-9, working on the same pathway as hydroxyurea, a generic chemotherapy drug commonly used to treat blood disorders and blood cancers.
Browse 31 Market Data Tables and 27 Figures spread through 158 Pages and in-depth TOC on Hemoglobinopathy Treatment Drugs Market, by Drug Type (Analgesics, Antibiotics, ACE Inhibitors, Hydroxyurea, and Others), by Disease Type (Thalassemia, Sickle Cell Disease, and Other Hb Variants Diseases), by Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to 2027"
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Several market players are focused on inorganic growth strategies such as partnership and collaboration for development of advanced hemoglobinopathy drugs to gain maximum share in the market. For instance, in May 2017, Sangamo Therapeutics, Inc. and Pfizer Inc. announced an exclusive, global collaboration and license agreement for the development and commercialization of gene therapy programs for Hemophilia A, including SB-525, one of Sangamo’s four lead product candidates. Under the terms of the collaboration agreement, Sangamo received a US$ 70 million upfront payment from Pfizer. Sangamo conducted the SB-525 Phase 1/2 clinical study and certain manufacturing activities. Pfizer was responsible for operationally and financially backing up Sangamo for subsequent research, development, manufacturing, and commercialization activities for SB-525 and additional products.
Key Takeaways of the Hemoglobinopathy Treatment Drugs Market: