What Is The Current and Historic Market Size Analysis Of The Adakveo Market?
The adakveo market has seen considerable growth due to a variety of factors.
• The Adakveo market has seen a XX (HCAGR) expansion in the past few years. Projected growth from 2024’s figures of $XX million will see it reach $XX million in 2025, a compound growth rate of XX%.
This historical growth curve is due largely to factors such as an increasing frequency of high severity cases related to the disease, a greater prevalence of sickle cell anemia, a surge in demand for Crizanlizumab, escalating numbers of diagnosed SCD cases as well as an uptick in pharmaceutical innovations for SCD.
What Are The Predictions for The Adakveo Market Size In The Coming Years?
The adakveo market is expected to maintain its strong growth trajectory in upcoming years.
• It is predicted that the market size for Adakveo will experience a XX% expressive compound annual growth rate (CAGR) in the coming years, escalating to $XX million by 2029.
This projected progression during the forecast period is primarily due to factors such as the rising incidence of sickle cell disease, increasing demand for potent treatment alternatives, customers increasingly preferring online shopping, growth in the production of cell-based therapies, and improved access to healthcare. The forecast period also sees key trends like the advancement in technology, the application of AI in drug development and diagnostics, technological improvements in drug delivery, and the adoption of AI in clinical trials.
Which Drivers Are Accelerating Growth In The Adakveo Market?
The escalating occurrence of sickle cell disease is predicted to stimulate the expansion of the adakveo market in the future. Sickle cell disease (SCD) is defined as a collection of inherited blood disorders triggered by the existence of abnormal hemoglobin - hemoglobin S - in red blood cells. The growing frequency of sickle cell disease can be accredited to elements like elevated birth rates in areas afflicted by endemic malaria, patterns of genetic inheritance and enhanced survival rates owing to progress in medical care, allowing more people to live extended with the condition. Adakveo assists patients suffering from sickle cell disease by reducing the rate of vaso-occlusive crises - painful events triggered by the blockage of blood flow in tiny vessels - through its unique mechanism that inhibits the sickle cells' adhesion to the blood vessel walls, thus ameliorating blood flow and alleviating this crippling condition's symptoms. For example, the Pennsylvania Bar Institute (PBI), an organization based in the US, pointed out in July 2024 that around 7.74 million people were affected by sickle cell disease (SCD) in 2021. The anticipated tally of newborns identified with the disease annually is set to grow from 275,000 in 2021 to over 400,000 by 2050. Hence, the escalating occurrence of sickle cell disease propels the adakveo market.
What Are The Core Segments Of The Global Adakveo Market?
The adakveo market covered in this report is segmented –
1) By Indication: Sickle Cell Disease (Adults and Pediatric Patients), Vaso-Occlusive Crisis Prevention
2) By Route Of Administration: Intravenous Injection, Infusion Therapy, Oral
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End-User: Hospitals, Clinics, Ambulatory Care, Home Care
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Who Are the Key Players In The Adakveo Market?
Major companies operating in the adakveo market include:
• Novartis AG
What Are The Regional Insights Into The Adakveo Market?
North America was the largest region in the adakveo market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the adakveo market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
