Sickle Cell Treatment Market Size

Sickle Cell Treatment Market Analysis

The Sickle Cell Treatment Market size is estimated at USD 3.32 billion in 2024, and is expected to reach USD 6.11 billion by 2029, growing at a CAGR of 12.98% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the studied market was significant. For instance, according to the data updated by the American Society of Hematology in May 2021, it was stated that CDC has designated sickle cell disease (SCD) as one of the medical conditions with a very high risk for severe COVID-19. Thus, the COVID-19 pandemic significantly impacted the market's growth during the initial phase. However, as the pandemic has currently subsided, the market is expected to have normal growth during the forecast period.

Factors such as the increasing prevalence of sickle cell disease and the increasing R&D activities regarding sickle cell disease are expected to boost the market's growth.

According to an article published by HemaSphere in June 2022, sickle cell disease (SCD) is said to have a high prevalence and social impact worldwide, with high mortality within the first three years of life. A high prevalence of the disease has been reported in Sub-Saharan Africa, the Mediterranean, the Middle East, and India. It has also been estimated that the prevalence is increasing in other geographic regions with global migration. Thus, the rising prevalence of sickle cell disease is expected to boost the market's growth during the forecast period.

The rising initiatives by various governments and private organizations for the treatment of this disease are expected to drive the market in the coming years. For instance, according to the data published by the WHO in August 2022, a few African health ministers launched a campaign to ramp up awareness and bolster prevention and care to reduce the toll of sickle cell disease, which is one of the most common illnesses in the region, but which receives inadequate attention. The source also stated that more than 66% of the 120 million people affected worldwide by sickle cell disease live in Africa. Approximately 1,000 children are born with the disease every day in Africa, making it the region's most prevalent genetically acquired disease. Thus, the high prevalence of sickle cell disease and the increasing awareness campaigns for the treatment of this disease are some of the key market drivers.

The increasing R&D for sickle cell disease may also drive the market. For instance, in May 2022, multiple daily doses of GBT601, Global Blood Therapeutics' (GBT) experimental oral therapy for sickle cell disease (SCD), was well tolerated and showed promising pharmacological and efficacy signals in six patients in a phase I trial clinical trial.

Thus, factors such as the rising prevalence of sickle cell disease, the increasing awareness campaigns, and the rising R&D are expected to boost the market's growth. However, the high cost of treatment is expected to restrain this growth.