Hemophilia Treatment Market In-Depth Analysis from Top Players On Forthcoming Development And Forecast By 2023

Market Insight:

Market Research Future (MRFR) reports that the global hemophilia market is projected to register an impressive CAGR of 6.0% during the forecast period (2017-2023). Hemophilia is a rare disorder in which blood doesn't clot normally as it lacks sufficient blood-clotting proteins. A patient with hemophilia may bleed for a longer time after an injury compared to how blood usually clots. Treatment involves regular replacement of the specific clotting factor.

Drivers and Trends:

Growing number of hemophilic patients worldwide drives the demand for recombinant and plasma-derived factor VIII and factor IX that are used to treat hemophilia. The development of novel coagulating factors along with constant technological advancements are triggering the growth of this market. apart from this, elevated diagnosis rate and growing use of prophylactic treatment for hemophilia are expected to bolster the market growth.

Other than these factors, increasing awareness, healthcare insurance coverage, improving regulatory framework and increasing government assistance, have all turned out to be highly instrumental in the market growth in past few years.

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Poor healthcare system in emerging nations could curb market growth:

Although the global market revels on the back of positive factors, lack of available medicines and high cost of treatment could potentially hinder the market progression. However, industry experts assert that advancements in gene therapy and special government initiatives are striving to boost the market growth in coming years. For instance, in April 2018, the state government of Punjab through National Health Mission (NHM) made protein factors available in various colleges, along with a program aimed at spreading awareness about hemophilia.

Industry Trends:

In July 2018, Pfizer launched Phase 3 Program to test gene therapy for treating Hemophilia B. this was in partnership with Spark Therapeutics to evaluate the safety and effectiveness of its factor IX replacement gene therapy.

With significant improvement in gene therapy and various trials conducted, the market gets a push in terms of growth. This trend of constant improvement in gene therapy for treatment of hemophilia is expected to gain momentum in the global market for hemophilia treatment.

Market Segmentation:

The global hemophilia treatment market is segmented based on the type of hemophilia, treatment type, and end user. Hemophilia A segment rules the global market by type, the market is segmented into hemophilia A, hemophilia B, hemophilia C, and others. Hemophilia A has claimed the largest market share of global hemophilia market owing to increasing prevalence of hemophilia A and surge in demand of prophylactic treatment. Segment of Recombinant coagulation factors to rise significantly

On the basis of the treatment, the market is classified as Recombinant coagulation factor concentrates, Plasma-derived coagulation factor concentrates, Desmopressin, and Antifibrinolytic Agents. The recombinant coagulation factor concentrates segment is sub-segmented into Factor VIII, Factor IX, and Von Willebrand factor. On the other hand, the plasma-derived coagulation factor concentrates market is sub-segmented into Factor VIII, Factor IX, Factor XIII, Activated prothrombin complex concentrate. Recombinant coagulation factors are preferred by numerous physicians, owing to low risk of blood borne infection. Hence, the segment is expected to drive the hemophilia market in the conjectured review period.

Hospitals segment beats other segments owing to well-established infrastructure
End user-wise, the market is segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others. The hospital segment is expected to lead the global hemophilia treatment drugs market owing to well-developed healthcare infrastructure in many regions coupled with growing number of health professionals involved in treatment of hemophilia in hospitals.

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Regional Outlook:

The Americas to lead the pack due to presence of established key players. The Americas has successfully captured maximum market share due to the presence of major market players and high adoption rate. In North America, a large population suffer from severe hemophilia, which gives significant push for the need of treatments. In other words, increasing prevalence of hemophilia disease along with growing usage of the recombinant product gives a substantial push to the market growth in the region. Adding to that are technological advancements that also fuels the growth of hemophilia treatment drugs market in the region.

Following the Americas, Europe has secured the second position in the hemophilia treatment market. It is presumed that the government support towards research & development expenditure will aid the market development in the region. Moreover, rising prevalence of hemophilia and associated complications is presumed to bode well with the market growth.
 
The report predicts that Asia Pacific is the fastest growing hemophilia treatment market on account of a huge patient pool, subsequent growing demand, along with development in healthcare technology. Healthcare expenditure is constantly improving in various parts of APAC, indirectly working in favor of the market growth.

Lastly, the Middle East & Africa accounts for the lowest share of the global market as there is low development coupled with lack of technical knowledge and poor medical facilities. However, due to increase in hemophilia cases, demand for hemophilia treatment is growing as well, a factor that leaves a vast impact on the market growth in the region.

Competitive Landscape:

The key players in the global market are Genentech, Grifols SA, Hospira, Inc., Kedrion, Novo Nordisk, Octapharma AG, Pfizer Inc., Roche. Shire Plc., Baxalta, Baxter International Inc., Bayer AG, Biogen, BioMarin, CSL Ltd., SOBI, Biogen Idec, and others.

• August 2018 – RCSI and Bayer have collaborated with the aim to improve treatment methods for people with severe hemophilia. The collaboration entails exploration of new treatments that can be customized according to the severity of the patient’s condition, to safely and effectively promote blood clotting.

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This release was published on openPR.