March 28, 2020

Alpha Thalassemia Treatment Market: Deferasirox being the only approved drug for alpha thalassemia treatment will dominate the market

According to the latest report published by Credence Research, Inc. “Alpha Thalassemia Treatment Market – Growth, Future Prospects and Competitive Analysis 2019-2027” 

The global alpha thalassemia treatment market was valued at USD 526.1 Mn in 2018, and is expected to reach USD 965.4 Mn by 2027, expanding at a CAGR of 7.1% from 2019 to 2027.

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Market Insights:

Alpha Thalassemia Treatment Market

Alpha thalassemia causes alpha thalassemia which is asymptomatic with general hematologic findings and gains silent carrier status due to deficiency or absence of alpha globin chains. Alpha thalassemia is classified as Alpha thalassemia, H-constant spring hemoglobin, silent carrier, H-disease hemoglobin, alpha thalassemia trait, and major alpha thalassemia. Alpha thalassemia is specifically caused by two different genes such as the genes HBA1 and HBA2.

Alpha thalassemia is found worldwide in several regions but most commonly in the Southeast Asia, Middle East, and certain Mediterranean countries. According to The California Newborn Screening Program, the high birth prevalence rate of alpha thalassemia major (ATM) was identified in immigrant women from Vietnam, China, and Philippines which reflects the migration patterns and its effects in this region.

In 2018, Deferasirox was identified as the largest drug segment in alpha thalassemia treatment market due to key factors such as it is currently the only USFDA approved drug for alpha thalassemia treatment, and increasing awareness related to thalassemia in medical practitioners & patients from developing countries. However, folic acid plays crucial role in alpha thalassemia management which makes it one of the crucial element of treatment regimen.

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In 2018, North America was identified as the largest alpha thalassemia treatment market due to increasing entry of immigrants in the United States and Canada specifically from Asia and rising awareness related to alpha thalassemia in patients as well as medical practitioners is expected to assist the growth in the near future. However, Middle East & Africa is identified as the fastest growing alpha thalassemia market due to high prevalence of alpha thalassemia, and rising awareness related to rare hematological diseases.  

Market Competition Assessment:

The alpha thalassemia treatment market is growing gradually and key companies operating in this market are developing treatments that are safe and target-specific. The major companies available in the global market are bluebird bio, Inc., Acceleron Pharma, Inc., Novartis AG, Celgene Corporation, Shire Plc. (Takeda Pharmaceuticals), Incyte Corporation, Kiadis Pharma, and GlaxoSmithKline among others.

Key Market Movements:

  • Rising awareness and prevalence related to alpha thalassemia treatment & diagnosis expected to assist the market growth
  • Incessant growth in research & development of alpha thalassemia treatment will assist the growth in demand for safe & efficient treatment options
  • Mounting diagnosis rate related to developing countries will increase the demand for alpha thalassemia treatment market
  • Strong drug pipeline anticipated to increase the CAGR of the overall market in the near future

Browse the full report Alpha Thalassemia Treatment Market at https://www.credenceresearch.com/report/alpha-thalassemia-treatment-market

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Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

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