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Vaso Occlusive Crisis Market revenue to surpass USD 20 Billion by 2036, says Research Nester
Research Nester
7 min read
Research Nester
Key vaso occlusive crisis market players include Novartis Pharmaceuticals Corporation, Bristol-Meyers Squibb, Pfizer Inc., Global Blood Therapeutics, AstraZeneca, Sanofi, GlaxoSmithKline, Regeneron Pharmaceuticals, Bluebird Bio, and Emmaus Life Sciences, Inc.
New York, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global vaso occlusive crisis market size is projected to expand at 8% CAGR between 2024 and 2036. The market is expected to garner a revenue of USD 20 billion by the end of 2036, up from a revenue of USD 10 billion in the year 2023. The rising inclination towards targeted treatment and personalized therapies is the major factor that is wheeling the market growth in the right direction. Adakveo (crizanlizumab-tmca) was approved by the US Food and Drug Administration for patients aged 16 and up to reduce the frequency of vaso-occlusive crisis, a common and painful complication of sickle cell disease comes when sickled red blood cells hamper the blood circulation.
Adakveo is the first licensed targeted medication for sickle cell disease, precisely blocking selection, a molecule that contributes to cell adhesion and causes vaso-occlusive crises. Adakveo was approved based on the findings of a placebo-controlled clinical trial involving 198 people with sickle cell disease who had previously experienced a vaso-occlusive crisis. Patients were given either Adakveo or a placebo. Patients who got Adakveo had lower visits to hospitals for the vaso-occlusive crisis on an annual basis of a rate of 1.63 visits, than patients who received a placebo Furthermore, 36% of Adakveo patients did not develop a vaso-occlusive crisis during the research.
Vaso Occlusive Crisis Market: Key Takeaways
Market in Asia Pacific region to propel the highest growth
The Supportive Care segment to garner the highest growth
Market in North America to grow at the highest rate
Growing Cases of Sickle Cell Disease to Boost the Growth of the Vaso Occlusive Crisis Market
Sickle cell illness is becoming more common, although it is still mostly unknown to the general public. Africa is home to more than 66% of the world's 20 million sickle cell patients. The illness can result in excruciating pain, life-threatening infections, and other problems such as stroke or eyesight loss. Globally, the number of persons living with sickle cell disease increased by 414 percent, from around 55 million in 2000 to nearly 75 million in 2021. The global burden of sickle cell disease (SCD) may be higher than previously estimated, with mortality rates up to 11 times higher. Around 34,400 SCD patients died as a result of the condition in 2021, this is referred to as a "cause-specific death," the total SCD mortality rate or total sickle cell disease deaths was roughly 11 times greater, totaling 376,000 persons. Total mortality rates were especially high in Sub-Saharan Africa and among children under the age of five, with SCD ranking as the world's 12th largest cause of death in that age range.
Vaso Occlusive Crisis industry: Regional Overview
The global vaso occlusive crisis market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Initiatives for Treating Sickle Cell Anemia is Expected to Boost the Market Growth in the Asia Pacific Region
The government of India recently set a Mission to eradicate Sickle Cell anemia by 2047 in the budget for 2023-24. This Mission will involve raising awareness, universal screening of 70 million persons between the ages of 0 and 40 in afflicted tribal areas, and consultation through a combined effort of national ministries and state governments. On July 1, 2023, Prime Minister Shri Narendra Modi formally started the Mission in one of the major cities. There are two main strategies adopted by the government to fulfill the ambition, first to achieve thorough penetration of the message at the grassroots level, an awareness module about Sickle Cell Anaemia and its elimination would be translated into numerous tribal languages. The other strategy is to assign community leaders to guarantee the widespread public engagement in the Mission.
Growing Prevalence of SCD to Elevate Market Growth in North America
The actual number of SCD patients in the United States is uncertain. In the United States, around 100,000 people suffer with Sickle Cell Disease.
It affects roughly 1 in every 365 Black or African-American babies. Furthermore, around 1 in every 16,300 Hispanic-American babies is afflicted by SCD. Furthermore, around one in every thirteen Black or African-American babies is born with sickle cell trait (SCT). VOC episodes have been reported to precede other acute complications such as ACS in up to 80% of cases due to the same mechanism of vaso-occlusion and SCD-related problems.
On the basis of type, the vaso occlusive crisis market supportive care segment is expected to gain the largest market share over the projected frame. Moreover, the gene therapy segment is also expected to garner significant market revenue by the end of 2036. The growth of the segment is majorly attributed to rising research on gene therapy treatment. According to new research published in the New England Journal of Medicine, stem cell gene therapy could offer a promising, curative treatment for the severe, genetic blood illness sickle cell disease (SCD). Researchers utilized CRISPR-Cas9 to modify certain genes in stem cells — the building blocks of blood cells — obtained from each patient as part of the trial. The changes boosted the cells' production of fetal hemoglobin (HbF), a protein that can replace sickled hemoglobin in the blood and protect against sickle cell problems.
Vaso Occlusive Crisis Segmentation by End User
Outpatient Care
Pharmaceuticals
Inpatient Care
On the basis of end user, the vaso occlusive crisis market outpatient care segment is expected to gain the highest market revenue over the forecasted period. The reduced number of hospitals stays of patients is expected to drive the segment’s growth. The use of a maximum level of analgesia has reportedly lowered the hospital stays of pediatric patients with extreme pain from sickle cell disease. Moreover, the drug has been such a success, that the guidelines from the United Kingdom and the United States have emphasized the immediate application of analgesia followed by the prompt initiation of parenteral opioids for patients in extreme pain.
A few of the well-known market leaders in the global vaso occlusive crisis market that are profiled by Research Nester are Novartis Pharmaceuticals Corporation, Bristol-Meyers Squibb, Pfizer Inc., Global Blood Therapeutics, AstraZeneca, Sanodi, GlaxoSmithKline, Regeneron Pharmaceuticals, Bluebird Bio, and Emmaus Life Sciences, Inc.
Recent Developments in the Vaso Occlusive Crisis Market
Pfizer has announced the acquisition of Arena Pharmaceuticals a clinical-stage firm exploring unique potential treatments for the treatment of numerous immuno-inflammatory illnesses, including SCD. Pfizer has completed the purchase of all outstanding Arena shares, options, and restricted stock units for USD 100 per share in cash, for a total equity value of about USD 6.7 billion. Arena became a wholly-owned subsidiary of Pfizer as a result of the acquisition, which was accomplished through a merger in line with Delaware law.
Pfizer will Seagen by paying USD 229 for each Seagen share in cash, for a total enterprise value of almost USD 43 billion. Pfizer's position as a leading firm in oncology is strengthened by the proposed combination. Seagen's medicines, late-stage research programs, and pioneering expertise in Antibody-Drug Conjugates (ADCs) complement the oncology portfolio of Pfizer.
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