Sickle Cell Treatment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2021 - 2026)
The Sickle Cell Treatment Market is expected to grow at a CAGR of around 13% over the forecast period.
COVID-19 has an extraordinary and catastrophic worldwide impact. The implication of the pandemic in the healthcare industry is profound. With the rapid increase in the patient's number, healthcare facilities and providers' burden is also increasing. Many hospitals were decided to postpone and cancel the surgeries. The sickle cell treatment market witnessed the mixed impact of the pandemic. Pandemic has squeezed the demand and donor base of blood supplies. Lockdown and travel restriction resulted in a decline in the number of donors and cancellation of the numerous drives across the globe. According to United States Blood Centers, blood drive schedules had declined in the year 2019, leading to about 250,000 missed blood donations. Furthermore, according to American Red Cross Blood Services, more than 50,000 blood drives have been canceled or moved due to the pandemic in March 2020. As a result, the demand for blood transfusions and bone marrow transplants has decreased. However, pharmaceutical firms reported positive growth in 2020 despite supply disruption and new regulatory approvals.
The major driving factor for the growth of the sickle cell treatment market is increasing the prevalence of sickle cell disease. According to the Centers for Disease and Prevention Control, 2020, SCD affects approximately 100,000 Americans. Similarly, according to the National Health Institute, United States, 2020, nearly 90 percent of the world's SCD population lives in three countries: Nigeria, India, and the Democratic Republic of Congo, where the disease affects up to 2 percent of the population, and the carrier prevalence rate (sickle cell trait) is as high as 10 to 30 percent.
Additionally, increasing research and development activity, a solid pipeline, and an expanding patient pool are all predicted to have an impact on market growth. For example, in November 2019, the U.S. Food and Drug Administration granted accelerated approval to Oxbryta (Voxelotor) for the treatment of sickle cell disease (SCD) in adults and pediatric patients 12 years of age and older. Similarly, Global Blood Therapeutics has 10 Drugs in the development at different phases of clinical trials such as Voxeloter, Inclacumab, GF1021601, HbF inducer, Anti-sicking, etc. and is expected to launch pipeline drugs during the forecasts period. Thus, the above mentioned factors are estimated to drive the sickle cell disease market during the forecast period.
However, the high cost of the treatment hampers the growth. According to the report published in Journal of Health Economics and Outcome Research in 2020, bone marrow transplant costs around USD 100,000 to 500,000 per patient. Hydroxyurea, which is the first-line treatment for sickle cell disease cost around USD 1,000-1,500 annually. Moreover, the cost of blood transfusion is over USD 1,000.
The blood transfusion segment is expected to witness healthy growth over the forecast period. The Growth of this segment is attributed to the high demand for blood transfusion in sickle cell treatment and the increase in the prevalence of SCD. Blood transfusions enable the supply of normal red blood cells, which can enhance hemoglobin levels to improve oxygen delivery in the body, thereby reducing sickle cell blockage in blood vessels, and minimize the desire to make more sickle cells. According to the National Institute of Health (2019), around 20% of patients who have to experience sickle cell disease are transfusion dependent. Similarly, according to the estimates in Jun 2021 by the National Institutes of Health and the National Heart, Lung, and Blood Institute, over 5 million Americans require blood transfusions each year.
According to the report published in HINDAWI journal, 2020, there is an increasing interest in the role of transfusion therapy in the management of SCD, with an estimation that over 50.0% of SCD children would have received at least one or more blood transfusions in their pediatric life time.
Additionally, the opportunities for players in this domain lie in plasma transfusion. According to Clinicaltrials.gov (2020), a series of plasma transfusion trials are underway for sickle cell treatment in the United States, Thus, the blood transfusion market is expected to witness rapid growth during the forecast period
Geographically, North America dominates the overall sickle cell treatment market with the United States being the major contributor to the market. The growth in the region is attributed to improving access to SCD treatment and potential pipeline candidates. The strong government support in the United States will further foster the healthy development of the market. For instance, according to the report published in National Centers for Biotechnological Information, in 2020, National Heart, Lung, and Blood Institute (NHLBI) launched the Cure Sickle Cell Initiative, a collaborative research effort that will accelerate the development of genetic therapies to cure SCD.
Similarly, the presence of a strong key market player with a strong pipeline aids in the market growth in the region. For instance, Global Blood Therapeutics in the United States has a strong pipeline in the different phases of clinical trials such as Voxelotor (Phase IV), Voxelotor hope-kids1(Phase IV), Inclacumab (Phase II), GBT021601 (Phase II), Hbf Inducer, Anti- sicking, Inflammation and Oxidative Stress Reduction, etc. These drugs are expected to be launched during the forecast period. Moreover, Food and Drug Administration (FDA) in November 2019, approved commercialization of Volexetor in the United States for the treatment of SCD.
Additionally, increasing births with SCD in America will increase the demand for the sickle cell treatment. According to a report of the National Institute of Health published in the National Center of Biotechnology Information in 2021, Sickle cell disease (SCD) is a multisystem disorder and the most common genetic disease in the United States, affecting 1 in 500 African Americans. Also, about 1 in 12 African Americans carry the autosomal recessive mutation, and approximately 300,000 infants are born with sickle cell anemia annually. Thus, the aforementioned factors together are expected to favor the growth of the studied market in the region.
The sickle cell treatment market is highly competitive with the presence of several regional and global companies. Companies are taking initiative to develop novel therapies in the market studied. Some of the players in the market include Novartis AG, Global Blood Therapeutics Inc., Emmaus Medical Inc., Addmedica, Medunik USA Inc., Bristol-Myers Squibb Company, and others.