Bleeding Disorders Treatment Market
Market Overview:
Bleeding disorders such as hemophilia are a group of conditions characterization associated with excessive bleeding or abnormal bruising. These disorders include a few significant diseases and also some more usual conditions. Generally, bleeding disorders are genetically inherited, moreover, people also can get a bleeding disorder due to illness. In the past few years, cases of bleeding disorders have been increasing in both developed and developing countries. Hence, there is a growing demand for various therapeutic approaches to bleeding treatment.
Market Size Growth Rate:
The bleeding disorders treatment market was valued at USD 12.8 billion in 2021 and it is projected to reach USD 18.6 billion by 2030, with a CAGR of 7.6% over the forecast period 2023-2030. An increase in the prevalence of bleeding disorders across the globe is anticipated to propel the demand for the bleeding disorders treatment market. Along with increasing authorization of novel & advanced products, extensive research activities, and novel technical tools in sensor technology, the rising need for bleeding-associated treatment will further support market trends for bleeding disorders treatment through 2030.
Market Drivers:
Increasing the demand for recombinant coagulation factor concentrate
The increasing number of hemophilia patients worldwide, growing preventive treatment, and increasing demand for diagnosis rates for the prevention of bleeding issues are enhancing to propel the growth of the recombinant coagulation factors segment. Mainly these products are developed in the laboratory deportment through the recombinant technology method. The development of these products is not from human blood, and it is a safer & active alternative method to plasma-derived factors due to avoiding transmission of infectious diseases through blood. Furthermore, growing advanced research technological activities on recombinant factor VIII are exhibited to trigger the growth of the recombinant coagulation factors segment. For instance,
In February 2020, Novo Nordisk launched Esperoct, an anti-hemophilic factor in the U.S. for the treatment of adults & children with hemophilia A and to control bleeding issues even during surgery.
Market Restraints:
The high cost associated with the hemophilia treatment
According to the national hemophilia association-2022, the average cost of bleeding treatment (clotting factor therapy) for a person with severe hemophilia is nearly USD 300,000 per year. People associated with an inhibitor usually have expenses of 1 million dollars a year. Cost-sharing policies can be expensive for any patient with chronic diseases that require specialized care and medications for months or years at a time. Moreover, as per hemophilia new today journal July 2022, the estimated total adult lifetime costs per patient associated with a significant type of hemophilia B is over USD 20,000,000. It is clearly shown how much therapeutic affords the burdens to need for people associated with bleeding disorders.
Market Opportunities:
The majority of the bleeding disorder treatment market players proactively working to develop potential therapeutic methods and drug products to improve bleeding treatment options.
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In March 2019, Biotest AG received regulatory approval from 13 European countries for its product offering for the treatment of Hemophilia-A.
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In December 2019, Bayer AG has collaborated for three-year with the children’s hospital. The main motto of collaboration is “The development of small molecules to treat hemophilia A and B”.
Recent Developments in the Industry:
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In December 2019, Johnson and Johnson collaboration with Spanish multinational, Grifols, introduce a Vistaseal biological sealant, which is a blood-stopping protein spray that controls bleeding during complicated surgeries where suturing, and ligature cannot be applied.
Market Segmentation:
As per the research analysis, the global bleeding disorder treatment market is segmented by type of hemophilia into hemophilia A, hemophilia B, von willebrand disease, by drug class into plasma-derived coagulation factor concentrates, recombinant coagulation factor concentrate, desmopressin acetate, antifibrinolytics, and fibrin sealants
On the bases of the type of hemophilia, the hemophilia A segment is caused by an absence of blood clotting factor VIII. without this, the blood cannot clot properly to control bleeding.The increasing prevalence of hemophilia contributing to the rising demand for treatment options is one of the prime factors driving the hemophilia treatment market expansion. As per the centers for disease control and prevention, hemophilia A affects 1 in 5,000 male births each year in the U.S. This considerable prevalence is set to dramatically impact the market since the number of dependent patients requiring quality care is increasing. Moreover, the number of patients with hemophilia-A is projected to major growth rate, followed by von willebrand disease across the globe, as hemophilia-A is the first line of impact for bleeding disorders treatment platforms, as per WFH-2021.
Geographical Classification:
The global bleeding disorder treatment market is segmented into major countries including North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
North America Bleeding Disorder Treatment Market:
North America holds a large revenue share market and is anticipated to continue during the forecast period. Due to the growing prevalence of various blood-related issues. In addition, as per the world federation of hemophilia data-2021 the evaluated prevalence of the present population
globally, approximately 20,000 new cases of hemophilia are identified across the world each year, of which 7,000 are severe. And von willebrand disease, the most common inherited bleeding disorder in the United States caused by clotting proteins, affects a large number of people. This disease affects both men and women and affects nearly 1% of the population in the United States.
Europe Bleeding Disorder Treatment Market:
Europe represents the major share of the bleeding disorder treatment market and will continue to grow its footprint over the period due to the high rate of adoption of prophylactic treatments to regulate complications, a rising number of patients associated with bleeding problems, and increasing investments in well-developed health care infrastructure. In addition, the growth of the bleeding disorder care industry is driven by favorable reimbursement plans coupled with insurance. According to the world federation of hemophilia-2020, approximately 65,778 patients were identified as associated with hemophilia, and about 81,306 patients were expected with hemophilia. Moreover, Germany is expected to have one of the largest market growth shares in the bleeding disorder treatment market followed by France. owing to rising extensive healthcare research activities, technological tools & treatments, and good healthcare professionals.
Competitive Analysis:
However, it is expected to grow rapidly in the next couple of years with intense competition among the players and a rising number of cases. A few key players are already being observed adopting strategies, such as collaboration for the development of therapies and drugs, which may make the market crowded with new products in the next couple of years.
Major Companies:
CSL Behring (U.S.), Grifols International (U.S.), Octapharma (Switzerland), Pfizer (U.S.), Biogen Idec, Xenetic Biosciences (U.S.), Sanofi (France), Cangene Corporation (Canada), Alnylam Pharmaceuticals (U.S.)Amgen U.S), Johnson & Johnson Services, Inc. (U.S.), Novartis AG (Switzerland), Akorn Operating Company LLC (U.S.), Bausch & Lomb Incorporated (Canada), AbbVie Inc. (U.S.), Prestige Consumer Healthcare Inc. (U.S.), Thea Laboratories (France), Wellona Pharma (India), Bayer AG (Germany), Zydus Group, Amneal Pharmaceuticals LLC (India), OASIS Medical (U.S.), Alcon (Switzerland), and Santen Pharmaceutical Co., Ltd. (Japan)
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