New Report Examines the Growth of Human Coagulation Factor VII Market Forecast to 2025
A factor VII deficiency (a disorder wherein the body is not able to produce factor VII) leads to a condition where blood is unable to clot, causing excessive and prolonged bleeding after a surgery or injury. This deficiency is either acquired or inherited – the former after birth, which may be a result of the effect of medication or diseases which interfere with the production of factor VII such as liver diseases and vitamin K deficiency.
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Major symptoms associated with factor VII deficiency are longer duration of bleeding caused by wounds, bleeding joints, bleeding gums, and heavy menstrual periods. Diagnosis is mostly accomplished through lab tests such as factor assay, inhibitor tests, and prothrombin time (PT) to measure the functioning of factors I, II, V, VII, and X.
Hemophilia is an inherited medical condition in which the patient’s blood is unable to clot. The symptoms could be mild to severe. In severe cases, patients experience internal bleeding. Treatment of hemophilia is usually in the form of medication for genetically engineered factor VII to prevent and treat prolonged bleeding. The rising incidence of hemophilia is a major driver of the human coagulation factor VII market, apart from initiatives taken by governments to create awareness regarding its prevention and treatment and the advent of new techniques for the development of safer and cost-effective products. Limited awareness in the medical profession and among policy makers about the medical conditions in which human coagulation factors VII can be used is a major restraining factor for this market.
The global human coagulation factor VII market has been categorized based on product type into the following categories: recombinant factor VII and plasma-derived factor VII. The former is anticipated to dominate the market due to the safety and efficiency associated with the use of the recombinant product as compared to plasma-derived factor VII. However, improvements in viral inactivation and advanced screening method have greatly improved the safety aspect of plasma-derived factor VII. In terms of application, the global human coagulation factor VII market has been segmented into the following sections: hemophilia, surgery, and others. Hemophilia is predicted to lead the market, followed by surgery. By end-user, the market has been divided into the following groups: hospitals, ambulatory surgery centers, specialty clinics, and others.
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Geographically, the global human coagulation factor VII market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a major market, followed by Europe. The rising number of hemophilia patients, surge in health care expenditure, and increasing awareness about hemophilia created by government organizations in developed countries are factors contributing to the expansion of the market in this region. The hemophilia population in developing countries accounts for about 80% of the global hemophilia population and is projected to emerge as a lucrative market owing to the increasing efforts taken by government organizations to create awareness and the involvement of NGOs to create better health care facilities and educate patients regarding available treatment.
Key players in the global market include Baxter International Inc, Bayer AG, Pfizer Inc., CSL Behring, Grifols USA, LLC, Novo Nordisk, Octapharma AG, ProSpec- Tany Technogene Ltd., Enzyme Research Laboratories, and others.
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