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Blood Clotting Factors Market - Enormous Benefits Forecast 2017 - 2025

04-23-2018 05:00 PM CET | Health & Medicine

Press release from: Biotechnology Report

Blood Clotting Factors Market - Enormous Benefits Forecast 2017

Blood clotting factors are proteins or enzymes that control bleeding. Blood clotting or blood coagulation is a process in which blood gets converted into solid clots at time of any wound or break down of blood vessels. Clotting can prevent death from bleeding and also restrict the entry of bacteria and viruses into the body. Haemostasis is the mechanism for blood clotting, which in controlled by a number of factors called blood clotting factors. Deficiency of these factors can cause blood clotting diseases such as haemophilia and von willebrand disease (VWD). According to Centre for disease control and prevention (CDC), 2017, around 20,000 males were suffering from Haemophilia in the U.S.

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Approval of novel drugs in key markets such as North America and Europe is expected to boost the growth in blood clotting factors market

In November 2017, the U.S. FDA approved Hemlibra (Emicizumab-kxwh) developed by Roche AG, for the treatment of Haemophilia A patient with inhibitors. This was the first approval by FDA in about 20 years to treat people with haemophilia A with inhibitors. Moreover, FDA approved Shire Plc’s Adynovate for treatment of haemophilia A patients. The drug has also been approved for use in surgical setting for both category of patients, adult and paediatric. In January 2018, the drug (Adynovate) was granted marketing authorization in European Union (EU). In EU, the drug got approval for adults and adolescents suffering from Hemophilia A. These approvals will provide the alternate option for patients suffering from haemophilia. Introduction of these drugs in market is expected to propel growth of the blood clotting factors market over the forecast period.

North America is expected to hold a dominant position in blood clotting factors market, owing to increased awareness about the disease and availability of wide range of treatment options

Haemophilia is a rare disorder affecting very small fraction of population across the globe. Pharmaceutical companies invest less amount on development of such drugs due to low return on investment. However, FDA has recognised this fact and has formulated favourable policy to motivate companies to invest in this area. Orphan Drug Act that applies to company operating in this area provides three special incentives i.e. 7 years exclusivity period, tax credit and waiver of prescription drug user fees. Due to such policy, the company has invested in rare disease research which has led to development of products such as Hemlibra (Emicizumab-kxwh), Adynovate and Others. Furthermore, increasing awareness regarding rare disease in developed economies such as U.S. and Canada has resulted in high number of patients receiving treatment. Owing to above mentioned factors, North America has dominated the market and it is also expected to retain position over the forecast period. Asia Pacific is expected to witness robust growth in the market due to improved ratio of patients suffering from disease and patients receiving treatment. Availability of generic products, at much lower price compared to branded product, in the market is expected to fuel growth of the market in Asia Pacific.

Low adherence to treatment among patients with Heamophilia has hindered the growth in this market. According to The National Haemophilia Foundation, about 75% of people suffering from haemophilia either don’t receive or don’t have access to complete treatment.

Key players operating in Blood clotting factors market include Shire Plc, Baxter International Inc., Grifols International SA, Roche AG, Bayer AG, Pfizer Inc., Novo Nordisk A/S, Octapharma AG, Biogen Idec, and Kedrion S.P.A.

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About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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