Blood Disorders Market

According to Stratistics MRC, the Global Blood Disorders Market is accounted for $15.08 billion in 2023 and is expected to reach $26.73 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Blood disorders are a group of medical conditions that affect the blood and its components. They are also known as hematologic disorders or haematological conditions. Some blood disorders are genetic and present from birth, while others can develop later in life due to various factors such as infections, autoimmune conditions, or exposure to certain toxins. Treatment options can range from medication and lifestyle changes to more intensive therapies.

According to the World Federation of Hemophilia Report, in the year 2017, worldwide around 315,423 people are affected by blood disorders. Among them approximately 196,706 people are living with Hemophilia, 76,144 people with von Willebrand disease (VWD) and 42,573 with other blood disorders.



Market Dynamics:

Driver:

Increasing clinical trials and R&D

Significant improvements in the diagnosis and management of blood diseases have been made as a result of the growing emphasis on clinical trials, research, and development. The development of more accurate and sensitive blood condition diagnostic tests is the result of research efforts. These tests enable quicker and more precise identification, allowing medical professionals to start treating patients earlier. The market expansion is being fuelled by the rising investment in clinical trials, research, and development for blood diseases, which is significantly improving patient outcomes.

Restraint:

Lack of standardized guidelines

The complexity and variability of blood diseases, the paucity of research on some subtypes, and the requirement for individualised treatment strategies are a few causes for the absence of standardised recommendations. It is frequently necessary for haematologists, oncologists, geneticists, and other healthcare experts to work together to treat blood diseases. Treatment strategies could alter as a result of coordinating care among these various experts. Along with this, the market's expansion is hampered by resource constraints and a lack of data on rare conditions.

Opportunity:

Rising awareness regarding blood disorders

As part of larger initiatives to improve healthcare systems and address health inequalities internationally, the increased knowledge of blood disorders in developing countries is an important step towards improving the health and well-being of those afflicted by these ailments. Increased awareness draws greater funding and attention to efforts to investigate and find treatments for blood illnesses. As a result, increased funding for research and development has driven awareness initiatives, which is boosting market demand.

Threat:

Inadequate reimbursement policies

Treatments for blood disorders include prohibitively costly, cutting-edge procedures like gene therapy and stem cell transplants. A multidisciplinary approach is frequently used to treat blood diseases, including input from haematologists, oncologists, geneticists, and other experts. In addition, factors including the limited market size, the complexity of the treatment plans, and the lack of competition cause government and commercial insurers to have constrained budgets, which may lead to reduced reimbursement rates. This issues are impeding the market demand.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the blood disorders market. The pandemic has led to delays in routine medical appointments and diagnostic testing, which has led to delayed diagnoses and treatment of blood disorders. The pandemic has caused delays and shortages in the distribution of vital medications for blood disorders by upsetting the world's pharmaceutical and medical device supply chains.

The blood cancers segment is expected to be the largest during the forecast period

The blood cancers segment is estimated to have a lucrative growth. Blood cancers originate in the blood-forming tissues of the body, such as the bone marrow or lymphatic system. Blood cancer risk is enhanced by a number of lifestyle factors, including smoking, eating poorly, being inactive, and drinking too much alcohol. The growth and operation of blood cells are both impacted by these malignancies. The segment is expanding as a result of factors such as demographic shifts, lifestyle decisions, environmental exposures, genetic predispositions, and improvements in diagnostic methods.

The blood transfusions segment is expected to have the highest CAGR during the forecast period

The blood transfusions segment is anticipated to witness the highest CAGR growth during the forecast period. Blood transfusions increase the amount of haemoglobin in the blood by replenishing the blood cell count. The body's capacity to oxygenate essential organs and tissues is improved by transfusions. Shortness of breath, weakness, and fatigue are some of the symptoms that are lessened by doing this. Additionally, blood transfusions are essential in sustaining patients receiving aggressive therapies like chemotherapy for blood malignancies. For people with severe blood flaws, it can ease their discomfort and enhance their quality of life, enabling them to lead more active lives and have fewer symptoms.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the increasing awareness among the patient population. Research and development in biomedicine are at the forefront in North America. This involves initiatives to find novel medicines, enhance current therapies, and investigate fresh ideas. Major firms like Pfizer Inc. (U.S.) and Medexus Pharma, Inc. (Canada) are present in this region. The high frequency of blood diseases, an advanced healthcare system, and a thriving pharmaceutical sector are some of the reasons that are driving the market for blood disorders in North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. The APAC region is home to a diverse population with varying genetic predispositions and environmental factors, leading to a wide range of blood disorders. Certain countries like India and some Southeast Asian nations, have higher incidences of genetic blood disorders like thalassemia and sickle cell anaemia. Pharmaceutical firms from both domestic and foreign markets are actively involved in the creation and dissemination of treatments, therapies, and drugs for blood diseases. Additionally, frequent advancements and partnerships between key players, as well as emerging pharmaceutical firms and research institutes, are fueling the Blood Disorders Market expansion in this region.



Key players in the market

Some of the key players profiled in the Blood Disorders Market include Novo Nordisk A/S, Bayer AG, Sanofi, Octapharma AG, Pfizer Inc., Grifols International SA, Medexus Pharma, Inc., CSL Limited, F. Hoffmann-La Roche Ltd., Baxter International Inc., Takeda Pharmaceutical Company Limited, Thea Laboratories, Zydus Group, Wellona Pharma, Ferring Pharmaceuticals, Novartis AG, OASIS Medical, Bausch & Lomb Incorporated, Johnson & Johnson Services Inc. and Sun Pharmaceutical Industries Limited.

Key Developments:

In October 2023, Sanofi announced that it has entered into an agreement with Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company, to develop and commercialize the vaccine candidate for extra intestinal pathogenic E. coli (9-valent) developed by Janssen, currently in Phase 3.

In February 2023, A Johnson & Johnson drug for rare infant blood disorder achieves main goal of phase 2 test. The drug acquired as part of a $6.5 billion deal has preliminary data showing it met the main goal of a mid-stage test in a rare blood disorder that can become fatal to fetuses.

Types Covered:
• Hemophilia A
• Hemophilia B
• Von Willebrand Disease
• Other Types

Disorders Covered:
• Genetic Haematology Disorders
• Haemoglobin Disorders
• Myeloproliferative Disorders
• Platelet Based Disorders
• Blood Cancers
• Plasma Disorders
• Other Disorders

Treatment Types Covered:
• Drug Therapy
• Factor Replacement Therapy
• Hormone Replacement Therapy
• Blood Transfusions
• Pipeline Analysis

Distribution Channels Covered:
• Drug Stores
• Hospital Pharmacies
• Online Pharmacies
• Retail Pharmacies

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances