The global hemophilia treatment market is expected to accumulate considerable returns in the coming years due to the growing cases of genetic abnormalities as well as the prevalence of hemophilia. Hemophilia is a rare bleeding condition, that leads to prolonged bleeding after an injury or a surgery owing to a delay in blood clotting.
The global hemophilia treatment market is expected to accumulate considerable returns in the coming years due to the growing cases of genetic abnormalities as well as the prevalence of hemophilia. Hemophilia is a rare bleeding condition, that leads to prolonged bleeding after an injury or a surgery owing to a delay in blood clotting. As per the World Federation of Hemophilia, the global prevalence of hemophilia stood at 184,723 in 2016.
Moreover, CDC reports that the average age for the diagnosis of hemophilia is 36 months in mild cases, 8 months for moderate ones, and 1 month for severe hemophilia. Evidently, the increasing cases of the disease are likely to drive developments in hemophilia treatment in the coming times.
Rising efforts have been undertaken by the regulatory authorities across the globe to spread awareness regarding the disease and inform them about effective treatment solutions. The CDC recommends people suffering from hemophilia to visit a treatment center to seek optimal care and offers necessary health education to stay healthy. Increasing establishment of HTCs worldwide will fuel the healthcare sector reach.
As per a study, hemophilia treatment market size could cross USD 14.8 billion in terms of total remuneration through 2025. Mentioned below are some of the factors expected to influence the industry size in the coming years.
High adoption of prophylaxis treatment
With respect to the type of treatment, prophylaxis has registered considerable gains over the years, recording a revenue size of USD 7,219.9 million during the year 2018. People suffering from severe hemophilia are recommended to use the prophylactic treatment solution to avoid bleeding. Certain recent studies suggest that the adoption of prophylactic treatment is effective especially with joint pains.
Hemophilia is quite common among adults. Citing a study, nearly 65% of the people diagnosed with this disease are adults. Moreover, the chances of developing moderate to severe hemophilia cases in adults are high.
Establishment of specialized hemophilia treatment centers
The healthcare industry, in general, has witnessed enormous growth due to the increasing discovery of chronic diseases. The governments as well as private healthcare units are heavily investing in the development of specialized clinics that meet the targeted needs of the patients. In this regard, there is a rise in the development of hemophilia treatment centers that mainly aim at offering treatment to underprivileged patients.
In November 2020, American insurance firm, BCS Financial partnered with the National Hemophilia Foundation to develop high-quality care through the network of federally- funded hemophilia treatment centers. The main focus of HTCs is carrying out promotional activities that spread awareness regarding the disease in both developing and under-developed nations. Special care is also provided by these centers which are supporting their preference over hospitals and clinics.
To access sample pages of this report titled, “Hemophilia Treatment Market Size By Disease (Hemophilia A {Severe, Moderate, Mild}, Hemophilia B {Severe, Moderate, Mild}), By Product (Recombinant Factor Concentrates {Factor VIII, Factor IX}, Plasma-derived Factor Concentrates {Factor VIII, Factor IX}, Extended Half-life Products {Factor VIII, Factor IX}), By Patient (Pediatric {0 to 4, 5 to 13, 14 to18}, Adult {19 to 44, 45+}), By Treatment (Prophylaxis, On Demand), By Therapy (Factor Replacement Therapy, Non-factor Replacement Therapy), By Drug Class (Vasopressin, Coagulation Factors), By Route of Administration (Injectable, Nasal Spray), By End-use (Hospitals, Clinics, Hemophilia Treatment Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/2772
Robust healthcare sector in the U.S.
Regionally speaking, the U.S. hemophilia treatment market has showcased tremendous growth and was valued at USD 3,539.3 million during the year 2018. Factors like the availability of an advanced healthcare ecosystem as well as the ability of the people to spend on updated medical services have supplemented the regional business trends.
As per the National Health Expenditure Accounts, healthcare spending in the U.S. grew by 4.6% in the year 2018, to reach USD 3.6 trillion. The availability of easy medical reimbursement schemes and cashless payments has driven the regional prospects of hemophilia treatment.
Frequent product developments by the market players
Companies involved in providing hemophilia treatment solutions include Sanofi SA, Biotest AG, Genentech, and Swedish Orphan Biovitrum AB, to name a few. Major industry players have executed various growth strategies like collaborations, mergers and new launched to reinforce their position in the wide global hemophilia treatment market.
In June 2020, CSL Behring- an American biopharmaceutical firm announced the acquisition of exclusive license rights from uniQure NV – a Danish firm to commercialize etranacogene dezaparvovec, a drug used in the treatment of severe and moderately severe hemophilia B.
From the above, it can be concluded that the efforts are undertaken by the governments and healthcare organizations, world over to spread the awareness regarding the need for an effective and reliable hemophilia treatment along with an early diagnosis. The industry players have in addition left no stone unturned to develop advanced, safe, and cost-effective treatment solutions to meet the rising patient needs.
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