The global sickle cell disease treatment market size is expected to reach USD 5.5 billion by 2023, according to a new report by Grand View Research, Inc., exhibiting a 14.3% CAGR during the forecast period. Several factors such as increase in investments for R&D, growing target population, and favorable government initiatives are anticipated to drive the market.
Currently available treatments for sickle cell disease (SCD) usually provide symptomatic relief and palliative care. These treatment methods generally include blood transfusions, bone marrow transplant, and pharmacotherapy. Although bone marrow transplant is the only potentially curative treatment, it is recommended only to a small percentage of patients. The market has only two approved products-hydroxyurea and Endari.
High unmet medical needs, strong pipeline, and growing patient pool are key factors expected to influence market growth. In recent years, demand for cost-effective drugs and gene therapies for SCD has increased owing to the unavailability of a permanent cure and risks associated with bone marrow transplant.