The market is estimated to grow with a CAGR of 15.9% from 2020-2027.
According to The Insight Partners market research study titled ‘Hemophilia Treatment Market - Global Analysis and Forecasts by Product, Disease, Treatment Type, Therapy, and End User, the global hemophilia treatment market is expected to reach US$ 44,089.71 Mn in 2027 from US$ 14,454.81 Mn in 2019. The market is estimated to grow with a CAGR of 15.9% from 2020-2027. The report highlights the trends prevalent in the global hemophilia treatment market and the factors driving the market along with those that act as deterrents to its growth.
Hemophilia is a condition where blood does not clot, and this condition is normally inherited. The condition is caused due to defects in a gene of the X chromosome, which is a clotting factor. Generally, the diseases are widely seen in males as the X chromosome is inherited from mother to baby boy. The disease is widely treated with replacement therapy and gene therapy. The other treatment which is used is medication. However, there are ways to reduce the risk of the condition, which include regular exercise and others. The condition can be prevented by taking preventive treatment by injection of clotting factor VIII for hemophilia A, or IX for hemophilia B.
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Hemophilia Treatment Market Competitive Landscape and Key Development
Some of the prominent players operating in hemophilia treatment market are, Bayer AG, Sanofi, F. Hoffmann-la Roche Ltd., Kedrion S.P.A., CSL Limited, Biotest AG, Pfizer Inc., Novo Nordisk A/S, Octapharma AG, and Baxter International Inc. The market players are focused towards acquisitions with industry players in order to sustain their position in the market. For instance, in February 2020, Novo Nordisk launched an antihemophilic product namely Esperoct. This product is likely to reduce the effect of hemophilia in adults and children with hemophilia A.
Factors such as increase in the number of surgical procedures and an increasing incidences of sports injuries are expected to upsurge the market growth. In addition, growth in the global healthcare market is likely to have a positive impact on the growth of the market in the coming years.
Increasing Prevalence of Hemophilia
Hemophilia is a hereditary bleeding disorder that stops the blood from clotting normally. The primary symptom is uncontrolled, often spontaneous bleeding in different areas of the body. According to data from the National Hemophilia Foundation in 2020, Hemophilia A happens in 1 in 5,000 live male births. Hemophilia A is about four times as common as hemophilia B. The number of people with hemophilia in the United States is anticipated to be around 20,000 individuals. Moreover, the incidence of hemophilia is not known across the globe but projected at above 400,000 people. Almost 75% of people with hemophilia worldwide are either undiagnosed or receive disparate treatment.
In Italy, according to the data of the National Center for Biotechnology Information (NCBI) in 2017, the number of registered people with bleeding disorders increased from about 7000 in 2000 to around 8500 in 2011 and more than 11,000 in 2015. The trend is due to an upsurge in the number of patients who are recorded, mainly in those with vWD type 1, mild hemophilia, or other factor deficiencies.
Hemophilia Treatment Market: Segmental Overview
The plasma derived coagulation factor concentrates based hemophilia treatment captured the largest share in the global hemophilia treatment market. A wide variety of hemophilia treatment is available as adjunctive measures to improve hemophilia if residual bleeding persists despite the correct application of conventional methods for hemorrhage control. Plasma-derived coagulation factor hemophilia treatment is considered to be active agents that participate in the coagulation cascade to form fibrin clots and are effective to make an intact coagulation system. Plasma is the liquid part of blood. It is pale yellow or straw-colored with proteins such as antibodies, albumin, and coagulation factors. There are several target factor drug products made from plasma proteins of human. The plasma is collected from group of people, and perform several processes to separate the plasma into its components.
Based on end user, the hemophilia treatment market is segmented into hospitals & clinics, hemophilia treatment centers, and ambulatory surgical centers. The hospitals and clinics held the largest share of end user segment in the global market. Moreover, the same segment is expected to grow at the fastest rate during the coming years. The hospital is a complex organization or an institute that provides health to people through complicated but specialized scientific equipment. The team of trained staff in the hospital, educated in the problems of modern medical science. They are all coordinated together for the common goal of restoring and maintain good health. Medical research is constantly pushing the boundaries of health care and redefining what is and isn't possible. The hospitals offer advanced treatment options as a resource for patients for chronic and hard-to-heal wounds and surgeries to treat them. Most of the surgeries are being performed in hospitals, owing to continuous patient care and monitoring. Also, increasing government funding in the hospitals and rising hospital research drives the market growth.
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