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Sickle Cell Disease Treatment Market Segmented By Hydroxyurea, Antibiotics, Pain-relieving Medications Drug Type in Sickle cell anemia, Sickle hemoglobin C disease, Sickle beta thalassemia Disease
Lack of proper healthcare infrastructure in MEA: The healthcare industry in MEA is undergoing rapid changes. The lack of proper healthcare infrastructure in countries of Middle East and Africa may restrain the growth of the MEA sickle cell disease treatment market. Improper development and implementation of clinical practice guidelines and dearth of skilled labors in developing countries may also hinder the growth of the market.
Unavailability of drugs in rural areas: Unavailability of drugs in the several affected tribal regions of India is expected to hinder the market of sickle cell disease treatment market in India. The corruption in drug sales and low disposable income of majority sickle cell disease affected population in India is creating hindrance to the growth of the market.
Lack of reimbursement in Europe for sickle cell anemia treatment: Though sickle cell disease is responsible for many deaths every year, government or insurance companies still do not provide reimbursement for sickle cell anemia. Due to high cost associated with lifelong treatment of this disease and lack of reimbursement patients withdraw their treatment in between the dosage. The lack of reimbursement is expected to act as a hindrance to the growth of the disease.
High cost of treatment: The high cost associated with the treatment of sickle cell disease is expected to act as a hindrance to the growth of sickle cell disease market. Sickle cell disease treatment also requires alternate therapies such as blood transfusion and bone marrow transplant. Lack of reimbursements in this region for sickle cell disease treatment is expected to restrict the growth of the market.
Lack of FDA approved treatment for sickle cell disease: In North America, the U.S. FDA approved drugs for sickle cell anemia is only hydroxyurea and L-glutamine. The stringent FDA approval process for sickle cell disease drug approval is expected to hinder the growth of the market
By indication, sickle cell anemia is expected to grab more than 50% revenue share and is likely to be valued more than US$ 190 Mn in 2017. Sickle Hemoglobin C disease is expected to be the lowest attractive drug type segment in sickle cell disease treatment market, with market attractiveness index of 0.5.
The global sickle cell disease treatment market represents absolute $ opportunity of more than US$ 20 Mn in 2018 over 2017 and incremental opportunity of more than US$ 200 Mn between 2017 and 2025. Absolute $ opportunity is usually overlooked when analysts forecasts the market but, it is critical in assessing the level of opportunity that an enterprise can look to achieve, as well as to identify potential resources from both a sales and delivery perspective. With 6% of robust CAGR, this market is likely to see tremendous development during the projected period of 2017-2025.