Sickle Cell Disease Diagnosis Market is Expected to Grow with a CAGR of 7.8% From 2021 to 2028
As stated by an extensive report by Vantage Market Research, the Global Sickle Cell Disease Diagnosis Market was valued at USD 1.4 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.8% between 2021 to 2028.
Sickle cell disease is a hereditary condition in which the shape of the red blood cells (RBCs) is transformed from their regular structure into crescent like i.e., sickle shape. This decreases their surface size thereby, restricting the oxygen carrying capacity of RBCs. Furthermore, these crescent shaped RBCs get obstructed in the blood vessels, preventing the flow of blood and oxygen to the organs. The disease can be diagnosed through genetic testing, blood screening and hemoglobin electrophoresis.
Increasing prevalence of the disease, rising healthcare industry and enhanced research and development (R&D) activities are some of the key factors that are augmenting the growth of the sickle cell disease diagnosis market worldwide.
However, the COVID-19 pandemic brought in worldwide lockdown which shut the R&D laboratories and institutions. Additionally, the healthcare industry was focused on developing vaccines to prevent the widespread infection of the virus. This hampered the growth of the sickle cell disease diagnosis market.
Although, the pandemic also highlighted the significance of diagnostics, which provides an enthralling opportunity for the growth of sickle cell disease diagnosis market over the coming years.
Globally, North America is dominating the sickle cell disease diagnosis market and this dominance can be attributed to the increased prevalence rate of the disease and enhanced R&D ventures in the region.
Subsequently, Asia-Pacific is anticipated to be the region that grows most rapidly, during the forecast period. This surge is accredited to the rising healthcare sector and increasing technological advancements in the region.
Some of the major players operating in the global sickle cell disease diagnosis market are Alpha Labs, Streck Inc., Mayo Clinic, Daktari Diagnostics, Quest Diagnostics, Laboratory Corporation of America Holdings, Biomedomics Inc., Silver Lake Research Corporation, Halcyon Biomedical Incorporated and Bio-Rad Laboratories Inc., among others.