NEW YORK, Nov. 1, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global rare hematology market size is estimated to grow by USD 4.58 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.7% during the forecast period. Enhancement of strategic portfolios is driving market growth, with a trend towards approvals from food and drug administration (FDA).However, high treatment costs poses a challenge.Key market players include AbbVie Inc., AstraZeneca Plc, Bayer AG, Biogen Inc., bluebird bio Inc., Bristol Myers Squibb Co., CSL Ltd., Emmaus Medical Inc., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Grifols SA, Jazz Pharmaceuticals Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Novo Nordisk AS, Octapharma AG, Pfizer Inc., Sanofi SA, and Takeda Pharmaceutical Co. Ltd..
Technavio has announced its latest market research report titled Global Rare Hematology Market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Disease Type (Hemophilia, Sickle cell disease, Thalassemia, and Myelodysplastic syndromes), End-user (Hospitals, Specialty clinics, Research institutes, and Pharmaceutical companies), and Geography (North America, Europe, Asia, and Rest of World (ROW)) |
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Region Covered |
North America, Europe, Asia, and Rest of World (ROW) |
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Key companies profiled |
AbbVie Inc., AstraZeneca Plc, Bayer AG, Biogen Inc., bluebird bio Inc., Bristol Myers Squibb Co., CSL Ltd., Emmaus Medical Inc., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Grifols SA, Jazz Pharmaceuticals Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Novo Nordisk AS, Octapharma AG, Pfizer Inc., Sanofi SA, and Takeda Pharmaceutical Co. Ltd. |
Key Market Trends Fueling Growth
The global rare hematology market is significantly driven by approvals from the Food and Drug Administration (FDA). These approvals shape treatment landscapes and fuel market growth. In February 2023, Sanofi and Sobi received early FDA approval for Altuviiio, an extended half-life factor VIII replacement therapy for hemophilia A. This approval, based on positive phase 3 XTEND-1 study results, sets Altuviiio apart with its weekly dosing regimen, improving patient convenience. Another approval was granted to AstraZeneca and Sanofi’s RSV prevention antibody, nirsevimab, in 2023. This approval and a restructured royalty agreement between Sobi and Sanofi streamline their partnership and position Sobi for future sales benefits. These FDA approvals and strategic partnerships are crucial for the rare hematology market, as they bring new treatment options to patients and stimulate financial investments. The focus on developing effective, safe, and convenient therapies continues to be a key trend, driving the market’s substantial growth and offering hope to patients with rare blood disorders.
Rare Hematology is a niche market focusing on the diagnosis and treatment of various blood disorders. This field encompasses a range of conditions, from sickle cell disease and hereditary anemias to plasma disorders like hemophilia and myeloma. Diagnostic techniques, including genetic testing, play a crucial role in early intervention and personalized treatment. Novel drugs and gene therapies, such as gene editing and targeted therapies, offer effective and affordable treatments for these often debilitating conditions. Orphan drug designation and clinical trials pave the way for innovative therapies and curative treatments. Pharmaceutical companies and biotechnologies invest heavily in this area, prioritizing patient-centric approaches and therapeutic avenues for hematologic diseases. Hematologists rely on advanced diagnostic capabilities and detection processes to improve the diagnosis and treatment processes, ultimately enhancing patient outcomes. Overall, the rare hematology market is a vital healthcare infrastructure solution, addressing the needs of those living with blood diseases and disorders.
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Market Challenges
The global rare hematology market faces a significant challenge with the high cost of advanced cell and gene therapies. These innovative treatments, providing groundbreaking options for patients, come with substantial price tags. For instance, Libmeldy, a recently FDA-approved gene therapy, has a wholesale acquisition cost of USD4.25 million. Other expensive therapies include Hemgenix at USD3.5 million, Zynteglo at USD2.8 million, Skysona at USD3 million per dose, and Vyjuvek with a potential lifetime cost of USD15-22 million per patient. Despite these costs, these therapies can significantly improve patients’ lives. For example, Hemgenix reduces bleeding in hemophilia B patients and eliminates the need for ongoing therapy in most cases. Roctavian, a hemophilia A therapy, has shown efficacy for over seven years, reducing annual bleeding rates by 96%. Zolgensma maintains or achieves new motor milestones up to 7.5 years post-dosing. Abecma and Kymriah demonstrate high response rates in treating multiple myeloma and B-cell acute lymphoblastic leukemia, respectively. The estimated annual cost of cell and gene therapies averaged USD20.4 billion as of December 2020, projected to increase to USD25.3 billion by 2026 before declining to USD21.0 billion by 2034. The financial burden is further illustrated by the treatment of beta thalassemia major in India, with an annual cost per patient of approximately USD981 and total costs reaching USD1,885,741. Addressing the high costs of these therapies is crucial for ensuring broader access and improving patient outcomes in the rare hematology market.
The Rare Hematology market faces unique challenges in the areas of Biotechnologies, Curative Treatments, and Diagnostic Capabilities. The use of advanced Genetic Testing Technologies is crucial for Early Intervention and Personalized Treatment of Hereditary Cancer and various Hematologic Diseases like Anemia, Myeloma, Leukemia, Sickle cell anemia, Hemophilia A, and Hemophilia B. Innovative Therapies and Patient-Centric Approaches are key to addressing these complex conditions. Healthcare Infrastructure and Solutions play a vital role in ensuring effective Detection processes, Diagnosis process, and Treatment processes. Hematologists require advanced Diagnostic skills in Molecular Biology and Genetics to identify Biological targets and apply Treatment techniques. Clinical Trials are essential for discovering new Therapeutic Avenues for Plasma Disorders and Blood Clotting diseases. Pediatric patients require special attention and care in Rare Hematology.
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Segment Overview
This rare hematology market report extensively covers market segmentation by
Disease Type
1.1 Hemophilia
1.2 Sickle cell disease
1.3 Thalassemia
1.4 Myelodysplastic syndromes
End-user
2.1 Hospitals
2.2 Specialty clinics
2.3 Research institutes
2.4 Pharmaceutical companies
Geography
3.1 North America
3.2 Europe
3.3 Asia
3.4 Rest of World (ROW)
1.1 Hemophilia- The rare hematology market, specifically focusing on hemophilia, is experiencing notable advancements. Hemophilia, a genetic disorder affecting males, is characterized by a deficiency in clotting factors VIII or IX. Approximately 400,000 individuals worldwide were diagnosed with hemophilia in September 2024. A significant challenge is the development of inhibitors to these factors in around 25% to 30% of hemophilia A patients and 3% to 5% of hemophilia B patients. Recently, Pfizer’s BLA for marstacimab, a human monoclonal antibody targeting the tissue factor pathway inhibitor, has been accepted by the FDA with a PDUFA action date set for Q4 2024. Marstacimab has shown promising results in phase 3 trials, reducing annualized bleeding rates by 35.2% compared to routine prophylaxis and 91.6% compared to on-demand intravenous treatment. The FDA also approved ROCTAVIAN, a gene therapy for severe hemophilia A, and AAV5 DetectCDx, the first diagnostic test for identifying eligible patients for this therapy. These developments underscore ongoing innovation and investment in hemophilia treatment, aiming to enhance patient outcomes and improve quality of life. Common adverse events reported in marstacimab trials include COVID-19, hemorrhage, hepatic disorders, hypersensitivity, hypertension, and injection site reactions. Continued research and development, along with regulatory support, are expected to expand treatment options and improve hemophilia management during the forecast period.
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Research Analysis
Rare Hematology refers to the branch of medicine focused on diagnosing and treating uncommon blood disorders. These conditions, including anemia, myeloma, leukemia, sickle cell anemia, plasma disorders, and hereditary cancer, often require specialized knowledge and resources. Diagnostic techniques in Rare Hematology utilize advanced technologies like genetic testing to identify the underlying causes of these complex diseases. Effective and affordable treatments are a priority, with therapeutic avenues including personalized medicine, gene therapies, and targeted therapies. Orphan Drug Designation accelerates the development and approval of treatments for rare diseases. Pharmaceutical companies invest heavily in Rare Hematology, driving innovation through clinical trial data and patient-centric approaches. Hematologists employ detection and diagnosis processes using their diagnostic skills to ensure early intervention and personalized treatment plans for patients.
Market Research Overview
Rare Hematology refers to the branch of medicine focused on diagnosing and treating uncommon blood disorders. These conditions, including sickle cell disease, hemophilia, anemia, myeloma, leukemia, and plasma disorders, can significantly impact patients’ quality of life and require specialized knowledge and resources. Diagnostic techniques in Rare Hematology utilize genetic testing, molecular biology, and advanced imaging to identify the root causes of these complex conditions. Effective and affordable treatments are a priority, with personalized medicine, gene therapies, and targeted therapies offering novel solutions. Orphan Drug Designation accelerates the development of innovative therapies for these conditions, while healthcare infrastructure and solutions ensure patient-centric approaches and early intervention. Biotechnologies and clinical trials continue to expand therapeutic avenues for hematologic diseases, with a focus on curative treatments and gene editing. Hematologists employ detection and diagnosis processes, utilizing their expertise in hematology, genetics, and biological targets to develop treatment techniques tailored to individual patients. Pediatric care is a crucial aspect of Rare Hematology, ensuring the best possible outcomes for young patients.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Disease Type
Hemophilia
Sickle Cell Disease
Thalassemia
Myelodysplastic Syndromes
End-user
Hospitals
Specialty Clinics
Research Institutes
Pharmaceutical Companies
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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