In recent years, the fanconi anemia treatment market is anticipated to grow rapidly. Individuals with fanconi anemia are more likely to develop acute myeloid leukaemia (AML), a malignancy of blood-forming cells in the bone marrow, or cancer of the head, neck, skin, gastrointestinal system, or genital tract. This result in the increasing demand for the standard treatment of fanconi anemia and hence, this will led to the introduction of fanconi anemia treatment in the market.
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Fanconi anemia is an autosomal recessive illness marked by impaired haemopoiesis, congenital anomalies, and a significant incidence of solid tumors and acute myeloid leukaemia in patients. It is a rare disease that affects the bone marrow and is handed down via families (inherited). Fanconi anemia is indicated by shortness of breath, frequent nasal bleeding, weariness, recurring viral infection and cold, low stature and poor growth are all indications of fanconi anemia.
Data Bridge Market Research analyses that the fanconi anemia treatment market was valued at USD 520 million in 2021 and is expected to reach USD 810.22 million by 2029, registering a CAGR of 5.70% during the forecast period of 2022 to 2029.
High prevalence rate of blood disorder
The rise in prevalence rate of blood disorder will act as a major driver that will result in the expansion of the market’s growth rate. Because gene mutation raises the likelihood of developing blood diseases, the fanconi anemia treatments market is expected to grow.
Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of fanconi anemia treatment market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising initiatives by public and private organizations to spread awareness and rising number of geriatric population are the factors that will expand the fanconi anemia treatment market. Other factors such as continuous changing lifestyle and high disposable income will positively impact the fanconi anemia treatment market’s growth rate. Additionally, increasing adoption of early genetic counseling will expand the fanconi anemia treatment market.
Some of the major players operating in the fanconi anemia treatment market are Allergan, Merck & Co., Inc., Pfizer Inc., GlaxoSmithKline plc, Melinta Therapeutics LLC, Basilea Pharmaceutica Ltd., Tetraphase Pharmaceuticals, Paratek Pharmaceuticals, Inc., Nabriva Therapeutics plc, Spero Therapeutics, Abbott, F. Hoffmann-La Roche Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, Novartis AG, Bayer AG, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Lupin, SHIONOGI & Co., Ltd., AbbVie Inc., and Eli Lilly and Company, among others.
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