Market Overview:
Hemophilia is generally an inherited bleeding disorder in these situations the blood does not clot properly, and it can affect sudden bleeding and bleeding during injuries or surgery. One of the clotting factors provides signals to form proper clotting-related proteins needed to form a blood clot. If any changes in it affect on prevention of clotting protein.
Market Size Growth Rate:
The hemophilia treatment was valued at USD 11.2 billion in 2021 and is projected to reach USD 19.6 billion by 2027, with a CAGR of 5.4% over the forecast period 2022-2027. The growth could be attributed to the return of demand to pre-pandemic levels, increasing authorization of novel & innovative medicines, extensive research, disease prevalence, and immunotherapies.
Market Drivers:
The growing prevalence of hemophilia across the globe
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The hemophilia treatment market is expected to witness significant growth due to the increasing incidence of hemophilia. some statics shoes its anticipated platform, for instance
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According to WFH (World Federation of Hemophilia) data-2021, the estimated prevalence at birth and the current live birth population across the globe, approximately 20,000 new cases of hemophilia is reported worldwide each year, of which 7,000 are severe.
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In addition, the estimated and present world male population of 7.8 billion, the anticipated number of patients with hemophilia worldwide is 815,100, and about 276,900 of them are seriously ill.
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This considerable prevalence is set to dramatically impact the market since the number of dependent patients requiring quality care is increasing.
Market Restraints:
The high cost of hemophilia treatment will hamper the growth of the market
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According to the national hemophilia association-2022, the average cost of hemophilia 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.
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The 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.
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It is clearly shown how much therapeutic affords the burdens to need for people associated with hemophilia issues.
Market Opportunities:
The majority of the hemophilia treatment market players proactively working to develop potential treatment steps and drug products to improve hemophilia 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:
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In February 2020, Novo Nordisk launched Esperoct, an anti-hemophilic factor in the U.S. for the treatment of hemophilia in adults & children with hemophilia A.
Market Segmentation:
As per the research analysis, the global hemophilia treatment market is segmented by disease type of hemophilia into hemophilia A, hemophilia B, von willebrand disease, by drug therapy into plasma-derived therapy, recombinant therapy, desmopressin acetate, and antifibrinolytics.
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 hemophilia treatment platforms, as per WFH-2021.
Geographical Classification:
The global hemophilia treatment market is segmented into major countries including North America, Europe, South America, Asia Pacific, and the Middle East and Africa.
North America Hemophilia Treatment Market:
It has the largest hemophilia treatment market and will maintain its major market throughout the forecast period. Growing consumer awareness of the value of curing various forms of hemophilia disorders is also one of the major signs approaches for new revenue platforms and growing R&D activities for the treatment of various hemophilia disorders is also expected to rise the growth potential. The increase in the number of patients diagnosed with hemophilia disorders and their awareness is driving the market growth. Americas patients with bleeding issues including hemophilia A & B were identified to be 55,287 in 2020 and this number is expected to reach 103,006 during the forecast period. In addition, the wide range of factor VIII is nearly 17% used for hemophilia A treatment, particularly in countries such as the United States and Canada.
Europe Hemophilia Treatment Market:
In recent times there is increased use of hemophilia treatments in Europe, due to the rising number of patients associated with hemophilia. For instance, according to data sources, the number of patients with bleeding disorders is expected to reach 81,306 during the forecast period from the identified number of patients 65,778 in 2020. The rising aging population, lifestyle factors, and increasing awareness of healthcare are some of the key driving factors for the growth of the global hemophilia treatment market. Moreover, the presence of highly skilled researchers, a developed R&D ecosystem, and support from government agencies and regulatory bodies are the major driving factors in Europe.
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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