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Neuralgia Treatment Market Analysis 2024-2033: Share, Drivers, Growth
Neuralgia Treatment Market Analysis
According to The Business Research Company's, The hemophilia market size has grown strongly in recent years. It will grow from $12.59 billion in 2023 to $13.83 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to government initiatives, increased number of hemophilic patients, rising diagnostic screening, increasing awareness about hemophilia treatments.
The hemophilia market size is expected to see strong growth in the next few years. It will grow to $19.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to rising research and development hemophilias, rising diagnostic screening, incremental healthcare spending, global access to treatment. Major trends in the forecast period include new drug launches and approvals, escalation in novel drug development, research and clinical trials, digital health solutions, advancements in treatment options.
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Market Drivers and Trends:
The rising occurrence of genetic abnormalities is expected to propel the growth of the hemophilia market going forward. Genetic abnormalities, also known as genetic mutations or genetic disorders, refer to changes in the DNA sequence of an individual's genes that can result in various health conditions and physical traits. Hemophilia treatment aims to prevent or control bleeding episodes, minimize complications and improve the quality of life for individuals with genetic abnormalities. For instance, in June 2023, according to Gene People, a UK-based registered charity organization that supports genetic conditions, one in every 25 kids had a genetic disorder. Consequently, 30,000 new-borns and young children in the UK and more than 2.4 million children and adults are affected by a genetic disorder each year. Therefore, the rising occurrence of genetic abnormalities is driving the growth of the hemophilia market.
Major players in the hemophilia market are Kedrion S.p.A., Chugai Pharmaceutical Co. Ltd., Pfizer Inc., F. Hoffmann-La Roche AG, Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, Takeda Pharmaceutical Company Limited, Novo Nordisk A/S, Baxter International Inc., CSL Limited, Biogen Inc., Grifols S.A., Octapharma AG, BioMarin Pharmaceutical Inc., GC Pharma, Alnylam Pharmaceuticals Inc., Bio Products Laboratory Ltd., Sangamo Therapeutics Inc., UniQure, Intellia tx, ProMetic BioSciences Ltd., Precision BioLogic Inc., Dimension Therapeutics, Chameleon Biosciences, Amarna therapeutics, HEMA Biologics LLC, Aptevo Therapeutics, Arcturus Therapeutics Inc., Ferring Lakemedel AB.
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Major Key Players of the Market:
Kedrion S.p.A., Chugai Pharmaceutical Co. Ltd., Pfizer Inc., F. Hoffmann-La Roche AG, Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, Takeda Pharmaceutical Company Limited, Novo Nordisk A/S, Baxter International Inc., CSL Limited, Biogen Inc., Grifols S.A., Octapharma AG, BioMarin Pharmaceutical Inc., GC Pharma, Alnylam Pharmaceuticals Inc., Bio Products Laboratory Ltd., Sangamo Therapeutics Inc., UniQure, Intellia tx, ProMetic BioSciences Ltd., Precision BioLogic Inc., Dimension Therapeutics, Chameleon Biosciences, Amarna therapeutics, HEMA Biologics LLC, Aptevo Therapeutics, Arcturus Therapeutics Inc., Ferring Lakemedel AB.
Hemophilia Market 2024 Key Insights:
• The hemophilia market is expected to grow to$19.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Occurrence Of Genetic Abnormalities Fuels Hemophilia Market Growth
• Major Players In The Hemophilia Market Lead With Innovative Drugs Such As Altuviiio
• North America was the largest region in the hemophilia market in 2023
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