Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Bleeding Disorder Treatment Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, March 24, 2021 (GLOBE NEWSWIRE) -- The Global Bleeding Disorder Treatment Market is expected to grow at a CAGR of around 7.8% from 2020 to 2027 and reach the market value of over US$ 20.5 Bn by 2027.
North America and Europe are projected to dominate the global bleeding disorder treatment market due to their affordability and accessibility to healthcare facilities. Furthermore, the patient awareness of bleeding disorders, as well as government and private-sector treatment campaigns, support the growth of the bleeding disorder treatment market. The growth of the bleeding disorder care industry is fueled by favorable reimbursement plans coupled with insurance. Asia-Pacific, on the other hand, is expected to grow at a rapid rate in the coming years. Rising prevalence of bleeding disorders witnessed among patients and availability of medications or treatment to treat these conditions drive the bleeding disorder treatment market.
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Market Dynamics
High investments in R&D activities pertaining to the development of recombinant factors coupled with improvements in the technology used for treating bleeding disorders among patient acts as a burgeoning factor for the growth of global bleeding disorder treatment market. Also, global bleeding disorder treatment market is driven by rising number of diagnosed patients suffering from bleeding disorders worldwide and government initiatives in developed economies towards the establishment of wide network of diagnosis and treatment centers for the patient pool suffering from a bleeding disorder.
Emerging markets offer lucrative opportunities for the growth of global bleeding disorder treatment market. However, high treatment cost for bleeding disorder treatment products coupled with limited reimbursement policies is expected to hinder the growth of this market during the forecast period.
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Segmental Outlook
Bleeding disorder treatment market is segmented based on the type and drug class. By type, the market is segmented as hemophilia A, hemophilia B, and Von Willebrand Disease (vWD). Based on drug class, the market is segmented as Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrate, antifibrinolytic, desmopressin, fibrin sealants, and others.
Based on type, Hemophilia A segment dominated the bleeding disorder treatment market in the past and is projected to continue the same trend in the forecast period. This is attributed to rising prevalence rate allied with rising prevalence of disease treatment and medication available in the global market for bleeding disorder treatment. Apart from that, recombinant coagulation factor concentrates will hold a significant share for its dominance over bleeding disorder treatment market. Lower associated infection risk and high investment in R&D by prominent players will have a positive influence for the growth of bleeding disorder treatment market.
In addition, the Food and Drug Administration (FDA) approves new products, which helps the bleeding disorder treatment market to grow to its full potential. In May 2020, FDA approved Coagulation Factor VIIa (Recombinant)-jncw for Hemophilia treatment. The approval is based on data from a clinical study evaluating coagulation factor VIIa (recombinant)-jncw in 27 patients with hemophilia A or B with inhibitors who had experienced a total of 465 mild or moderate bleeding episodes and three severe bleeding episodes. Approx. 86% of mild or moderate bleeding episodes were treated successfully with both lower and higher doses (75 mcg/kg and 225 mcg/kg) of coagulation factor VIIa (recombinant)-jncw, and all three severe bleeding episodes were treated successfully with the higher dose.
Competitive Landscape
The major players involved in the bleeding disorder treatment market involve Sanofi SA, Swedish Orphan Biovitrum AB, Janssen Pharmaceuticals, Inc., Baxter International Inc., Pfizer Inc., Genentech, Inc., CSL Behring, Novo Nordisk, and among others.
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Some of the key observations regarding bleeding disorder treatment industry include:
- In September 2018, Sanofi SA announced receiving approval for rare blood clotting disorder treatment. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) and recommend the approval of "caplacizumab" that is prescribed to adults suffering from thrombotic thrombocytopenia purpura (aTTP)
- In February 2020, Novo Nordisk, announced launching of new product namely, "ESPEROCT®" The newly launched product is the company's long acting recombinant factor V111 product for the prevention and treatment of bleeding individuals suffering from Hemophilia A. The company reported that the new product proved to be safe and well tolerated across all clinical trials.
- In June 2020, Pfizer Inc., in collaboration with Sangamo Therapeutics, Inc. announced updated follow-up data from the Phase 1/2 Alta study of "giroctocogene fitelparvovec". The study is an investigational gene therapy for patients with severe Hemophilia patients. The new drug is generally well absorbed and shows significant results related to tolerance in the patients.
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