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LONDON, GREATER LONDON, UNITED KINGDOM, January 21, 2025 /EINPresswire.com/ -- What's the current growth rate and market size of the Adakveo industry?
The adakveo market has shown significant growth in recent years with a compound annual growth rate CAGR of XX%. The market size is expected to grow further from $XX million in 2024 to $XX million in 2025. Several aspects contribute to this growth, such as the increasing prevalence and high severity of sickle cell anemia, amplified demand for crizanlizumab, as well as the rise in diagnosed cases of sickle cell disease scd. Further crediting the expansion of the market is the proliferation of pharmaceutical innovations specifically geared towards scd.
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What advances can we expect in the Adakveo market in the coming years?
Apart from the current growth, the adakveo market is forecasted to continue its notable trend in the next few years. It is projected to grow to $XX million in 2029 at a compound annual growth rate CAGR of XX%. This forecasted growth can be accredited to the rising prevalence of sickle cell disease, escalating demand for effective treatment options, growing e-commerce adoption resulting in a preference for online shopping, increasing production of cell-based therapies, and elevated access to healthcare services. Crucial trends shaping the forecast period include technological advancements in drug development, the integration of AI in diagnostics, and the advancements in drug delivery, alongside the usage of AI in clinical trials.
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What's driving the growth of the Adakveo market?
A significant driving factor for the adakveo market is the increasing prevalence of sickle cell disease. This inherited blood disorder, caused by the presence of an abnormal variant of hemoglobin known as hemoglobin S in red blood cells, continues to affect a large number of individuals. The growing prevalence is largely due to factors like higher birth rates in regions with endemic malaria, genetic inheritance patterns, and improved survival rates owing to advanced medical care. Adakveo aims to reduce the frequency of vaso-occlusive crises in patients, which are painful episodes triggered by the blockage of blood flow in small vessels. Accordingly, with a growing number of people diagnosed with sickle cell disease, the demand for Adakveo is expected to rise.
Who are the key players in the Adakveo market?
A notable player operating in the adakveo market is Novartis AG. The company's effort, coupled with the continuous research and development activities in the marketplace, are significant drivers of the industry's growth.
How is the Adakveo market segmented?
The global market segment for Adakveo is divided based on indication, route of administration, distribution channel, and end-user:
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
What's the regional coverage of the Adakveo market?
In terms of regional insights, North America was the largest region in the adakveo market in 2024. Going forward, Asia-Pacific is predicted to be the fastest-growing region in the forecast period. This report further covers regions like Western Europe, Eastern Europe, South America, Middle East, and Africa.
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