Rare Hematology Disorders Market Size will project significant growth fueling trends during the forecast period of 2022-2028. The increasing global burden of hemoglobin disorders is likely to propel the industry outlook in the foreseeable future. As per a study by the World Health Organization (WHO), approximately 1% of couples globally are at risk of hemoglobin disorders, and over 3.4% of children under the age of 5 years die due to these diseases.
The growing prevalence of various blood disorders like Anemia, Sickle Cell Disease, Thalassemia, Hairy Cell Leukemia, Myelofibrosis, etc., is likely to augment the rare hematology disorders market share over the projected timeframe. According to a report by the News Medical Life Sciences, out of every 10000 live births globally, thalassemia affects approximately 4.4 of them. Also, around 5% of the U. S. population has a thalassemia trait.
An increasing number of hemoglobinopathies immigrants and escalating demand for early disease diagnosis will bolster the Rare Hematology Disorders market growth in the foreseeable future. Moreover, government grants to improve public health awareness, diagnostic programs, and orphan drug development coupled with the emerging research activities by pharmaceutical companies for effective and advanced treatment will further support the Rare Hematology Disorders market forecast during the analysis period.
Plasma disorders treatment is likely to register appreciable growth trends in the rare hematology disorders market driven by the increasing health awareness and growing demand for diseases diagnosis among people. The introduction of multiple treatments and therapies for diseases like Von Willebrand disease, hemophilia, and acquired hemophilia, supportive care by medical professionals, and escalating clinical trials will further support the segment expansion.
The recombinant factor will experience substantial progression during the estimated period driven by the increasing application of the product to help the blood to clot normally in patients suffering from various blood disorders. They are made with recombinant DNA technology in a lab and can prevent bleeding or treat bleeding episodes and other complications like damage to joints, muscles, or organs.
North America rare hematology disorders treatment market will exhibit a decent growth rate during the analysis timeframe due to the emerging geriatric population and increasing incidence of rare blood disorders. Improved healthcare infrastructure, increasing healthcare expenditure, and supportive government initiatives will further boost the regional expansion. In addition, research activities by the major pharmaceutical companies for drug development will help the industry expand exponentially in the forthcoming years.
The advent of COVID-19 posed several challenges and had a deep impact on the rare hematology disorders treatment market in 2020. The pandemic resulted in a global health crisis and caused major disruptions in the supply chain management of goods and services among major economies. Lockdown restrictions and social distancing norms limited the travel and transportability of the logistics that hampered the availability of raw materials and created a major demand-supply gap.
With the end of nationwide lockdowns and reduction in social distancing measures, the market may soon recover from the setback and may register considerable expansion in the upcoming years.
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