Press release
Hemoglobinopathy Market Report 2023 Future Analysis, Demand by Regions and Opportunities with Challenges 2033
Hemoglobinopathies are genetic disorders which affect the structure and production of hemoglobin, leading to various disorders such as thalassemia, sickle cell anemia, etc. These disorders can be caused by single gene mutations or due to chromosomal imbalances. The primary treatment methods currently available include blood transfusions, iron chelation therapy, hydroxyurea therapy among others.
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Market dynamics
Most health insurance companies, including government programs in the U.S. and Europe provide insurance coverage for hemoglobinopathy therapy under the CPT code. This creates a favorable environment for the growth of the global hemoglobinopathy market. Various government initiatives are being carried out for detection and management of hemoglobinopathy in high disease prevalence regions across the globe, giving a fillip to the global hemoglobinopathy market. Advancements in diagnosis techniques have led to the development of new tests that have enabled clinicians to provide effective diagnosis and therapeutic assistance to patients. Rising awareness about these disorders coupled with various public and private initiatives is also fueling the growth of the global hemoglobinopathy market in the regions with a high prevalence of sickle cell anemia and thalassemia.
Lack of awareness regarding hemoglobinopathy disorders among the populace especially in underdeveloped countries is a major factor hampering growth of the global hemoglobinopathy market. The lack of a permanent cure for hemoglobinopathy disorder is also one of the restraints affecting the global hemoglobinopathy market.
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Market forecast
The global hemoglobinopathy market is segmented based on indication type, test type, end users, and region. Based on indication, the market is segmented into sickle cell disease, alpha thalassemia, and beta thalassemia. Beta thalassemia segment is expected to register a significant CAGR of 8.7% during the forecast period. Sickle cell disease segment is anticipated to grow with a CAGR of 8.3% over the forecast period.
The market has been segmented based on major types of diagnostic tests such as red blood cell (RBC) count test, genetic testing, hemoglobin by high performance liquid chromatography (HPLC) test, hemoglobin isoelectric (Hb IEF) focusing, hemoglobin electrophoresis (Hb ELP) test, and hemoglobin solubility test.
The genetic testing segment is expected to expand at the highest CAGR of 9.2% over the forecast period due to increasing adoption of preventive measures such as genetic counseling and testing. Increasing popularity of prenatal and premarital genetic screening make these tests an attractive opportunity for market players.
Based on end users, the market has been segmented into hospitals, diagnostic laboratories, and clinics. The diagnostic laboratories segment is anticipated to account for the highest market share over the forecast period, registering a CAGR of 8.9% due to availability of dedicated equipment, reagents, and trained technicians required to perform rather complex diagnostic procedures like genetic testing, Hb HPLC, and isoelectric focusing.
Competitive landscape
Some key players in the global hemoglobinopathy market identified in the report include Abbott Diagnostics, Bio-Rad Laboratories Inc., Danaher Corporation, Mindray Medical International Ltd., Nexcelom Bioscience LLC., Nihon Kohden Corporation, PerkinElmer Inc., Siemens Healthineers, and Sysmex Corporation.
The individual strategies of these companies in terms of increasing focus on rare diseases, initiatives to increase disease awareness, and enhancing distribution base have been discussed. The report concludes with strategic recommendations for players already present in the market and new players planning to enter the global hemoglobinopathy market, which could help them in the long run.
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Key Questions Answered in This Report.
What are the Roadblocks for Hemoglobinopathy Market Suppliers?
What are the Key Opportunities for Hemoglobinopathy Market Manufacturers?
How is Focus on Safety Influencing Hemoglobinopathy Market Demand?What is the Regulatory Impact on Global Sales of Hemoglobinopathy Market?
Which Region Offers the Largest Opportunity for Sales of Hemoglobinopathy Market?
Where Does the U.S. Stand in the Market for Hemoglobinopathy Market?
What Is the Outlook for Hemoglobinopathy Market Manufacturers in China?
Why is Germany a Lucrative Market for Hemoglobinopathy Market Manufacturers?
Why Will Belgium Outpace Other European Markets for Hemoglobinopathy Market?
Why is There High Demand for Tires in Hemoglobinopathy Market?
Why are Sales of Hemoglobinopathy Market Surging?
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