Hemophilia A Treatment Market Set to Record Exponential Growth by 2026
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Low diagnosis rate is a key contributor driving the hemophilia A treatment market globally. According to a World Federation of Hemophilia 2017 report, globally, there are around 400,000 patients with hemophilia. Out of the total population of hemophilia patients, hemophilia A patients account for around 80%. Hemophilia A is about four times as common as hemophilia B and occurs in 1 in 5,000 live male births. Globally, only about 30% of patients with hemophilia are diagnosed, partly due to lower awareness levels about the condition among the general population. Hemophilia patients exhibit three forms of the condition: mild, moderate, or severe, depending on the level of clotting factor in the blood. A severe form of the condition affects 40% of hemophilia patients, who are vulnerable to several bleeds per month without treatment. Mild and moderate hemophilia can go undiagnosed for years due to variable bleed rates, thus affecting the overall diagnosis rate. Geographically, developed countries have a relatively higher diagnosis rate as compared to developing countries, owing to increased government initiatives for improving hemophilia awareness levels among the general population. With an increase in initiatives aimed at improving awareness levels about hemophilia, the diagnosis rate is expected to rise, in turn, boosting demand for therapies used for managing this condition.
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Hemophilia drug manufacturers and government and non-government organizations are focusing on nationwide campaigns to create awareness about the condition among the general population. Each year, April 17th is observed as World Hemophilia Day. On this day, organizations such as the World Federation of Hemophilia (WFH) and local governments and other groups in different countries come together to raise public awareness among the hemophilia community. National news media campaigns and social media campaigns have been used to educate people with hemophilia to help them effectively monitor and manage this condition.
The global hemophilia A treatment market can be segmented based on product, distribution channel, and geography. In terms of product, the global hemophilia A treatment market can be divided into recombinant coagulation factor concentrates, plasma-derived coagulation factor concentrates, and others. Based on distribution channel, the global hemophilia A treatment market can be divided into retail pharmacies, hospital pharmacies, and others.
In terms of geography, the global hemophilia A treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global hemophilia A treatment market due to the presence of a large patient pool suffering from hemophilia A in the region and ongoing research to develop new treatment options for managing the condition. For example, in August 2018, the U.S. Food and Drug Administration (FDA) had approved Jivi (formerly BAY94-9027) used for the treatment and prophylaxis of bleeding in previously treated patients above the age of 12 years with hemophilia A. Jivi helps in replacing missing or reduced Factor VIII (FVIII), an important blood clotting protein in patients with the bleeding condition. North America was followed by Europe and Asia Pacific. In Asia Pacific, a considerable population of patients with hemophilia A and a rise in diagnosis rate are likely to fuel the hemophilia A treatment market during the forecast period.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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