According to the latest market report published by Credence Research, Inc. “Hemophilia Treatment Market - Growth, Future Prospects, and Competitive Analysis, 2017 - 2025,” the global hemophilia treatment market was valued at US$ 10,042.7 Mn in 2016, and is expected to reach US$ 15,124.7 Mn by 2025, expanding at a CAGR of 4.5% from 2017 to 2025.
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According to a study by the National Hemophilia Foundation (U.S.), around 0.4million people across the world suffer from hemophilia. Out of the total prevalent population of hemophilia, approximately only 25% receives proper treatment. The World Federation of Hemophilia is striving to bridge this gap through educating patients and general population and conducting various programs. Lack of awareness about bleeding disorders and limited access to treatment have so far hindered the growth of hemophilia treatment market. However, rise in funding for research and development, increasing healthcare expenditure, advancement in diagnostic technology would propel the growth of hemophilia treatment market. The World Federation of Hemophilia and WHO both recommend prophylaxis as the optimal therapy for hemophilia. Across North America, Europe and Japan, prophylactic therapies are being widely used. Furthermore, increase in demand on prophylactic treatment and with availability of recombinant factor provides immense growth opportunities of hemophilia market.
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The global hemophilia treatment market is segmented by product type into plasma derived coagulation factor concentrates, recombinant coagulation factor concentrates, antifibrinolytic agents and desmopressin. Recombinant coagulation factors are preferred by most physicians, due to low risk of blood borne infection. Thus the segment is anticipated to drive the haemophilia market in the given forecast period. The global hemophilia treatment market is segmented by hemophilia type into Hemophilia A, Hemophilia B and others. Hemophilia A occupies the largest market share of global hemophilia market due to rising prevalence of hemophilia A and surge in demand of prophylactic treatment.
As of the current market scenario, North America dominates the global hemophilia treatment market followed by the Europe. The factors driving the North America hemophilia market are rising number of cases of hemophilia, awareness about disease, availability of recombinant products, advanced diagnostic technology and increasing prophylactic treatments. Asia Pacific is the fastest growing regional market for hemophilia treatment due to improving healthcare infrastructure, awareness about bleeding disorders and overall impetus due to emerging economies such as China and India.
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Market Competition Assessment:
Key players in the global hemophilia market are Baxter International, Inc., Baxalta, Bayer AG, Biogen Idec, Inc., Chugai Pharmaceutical Co., CSL Behring, Genentech, Inc., Hospira, Inc., Ferring B.V., Kedrion, Octapharma AG, Novo Nordisk, Pfizer, Inc., Sanofi SA, Swedish Orphan Biovitrum AB, Shire Plc. and others.
Key Market Movements:
- Rising prevalence of hemophilia, with estimate of about 400,000 individuals affected by the disease. Around 75% of people do not receive required treatment for hemophilia.
- Rising awareness about hemophilia and other bleeding disorders among people due to various programs conducted by international and national bodies and pharmaceutical companies. Development of novel treatment options and educational program to holistically address the unmet need of the patients and care givers.
- Focus on prophylactic treatment, growing market for recombinant products, advancement in diagnostic technology further boosting the demand for hemophilia market
- Promising late-stage pipeline product contains long-acting replacement therapies and non-factor therapies that would receive approval during forecast period, which would drive the hemophilia market
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