Pune, India, May 28, 2019 (GLOBE NEWSWIRE) -- The global hemophilia treatment market is expected to exhibit a robust 6.10% CAGR, and is expected to appreciate to reach an approximate market value of USD 16,059.17 Mn over the forecast period from 2018 to 2023, according to a new research report published by Market Research Future (MRFR). The report identifies the growing prevalence of hemophilia and the increasing awareness about the disease as the key drivers likely to have the most impact on the global hemophilia treatment market over the forecast period.
Hemophilia is an inherited hematological condition in which factor IX, a vital protein that plays a key role in the blood clotting process, is deficient in the patients. This results in, in general, an inability to carry out blood clotting at the same rate as healthy individuals. Hemophilia patients, known as hemophiliacs, bleed excessively from even small cuts, as the clotting factor is deficient and thus blood flow is not stopped in even small cases. Larger injuries that would only incapacitate healthy individuals can, in fact, kill hemophilia patients, as stemming the blood loss would be impossible. The growing prevalence of hemophilia across the world has driven the demand for effective treatments, which is likely to remain the most important driver for the global hemophilia treatment market over the forecast period.
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The growing biotechnology sector is likely to be a major driver for the global hemophilia treatment market, as this is likely to drive further development in the field of genetic therapies aimed at hemophilia. Genetic therapies have shown promise in the field of hemophilia treatment and have emerged as a leading remedy for the disease. The increasing investment and government support in the medical research sector is also likely to be a key driver for the global hemophilia treatment market, as this is likely to drive the development of new treatment modalities in the global hemophilia treatment market over the forecast period.
On the other hand, the high costs of genetic therapy and other novel remedies for hemophilia have been a key restraint on the global hemophilia treatment market and are likely to hold the market back over the forecast period.
Competitive Leaderboard:
Leading players in the global hemophilia treatment market include Baxter, F. Hoffman-La Roche Ltd., Octapharma, Bayer AG, Swedish Orphan Biovitrum AB, Kedrion, Novo Nordisk A/S, CSL Behring, Grifols International S.A., Sanofi, Pfizer Inc., and Shire.
Segmentation:
By type, the global hemophilia treatment market is segmented into hemophilia A, B, and C. Hemophilia A has the largest share in the global hemophilia treatment market and the segment is expected to grow at a robust 6.23% CAGR over the forecast period, further underlining its superiority in the global hemophilia treatment market in the coming years. The hemophilia A segment is expected to be valued at USD 12,698 million by the end of the forecast period.
By treatment, the global Hemophilia Treatment Market is segmented into recombinant coagulation factor concentrates, plasma-derived coagulation factor concentrates, gene therapy, desmopressin, and antifibrinolytic agents. Recombinant coagulation factor concentrates have taken up an important position in the global hemophilia treatment market and the segment is expected to grow at the highest CAGR of 7.01% over the forecast period.
By end use, the global hemophilia treatment market is segmented into hospitals and clinics, research organizations, and others. The hospitals and clinics segment accounted for a sizeable market share in 2017 and predicted to be the undisputed leader among end-users.
Browse the market data and information spread across 158 pages with 33 data tables and 33 figures of the report “Hemophilia Treatment Market - Forecast 2018-2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/hemophilia-treatment-market-5688
Regional Analysis:
The Americas segment is likely to dominate the global hemophilia treatment market over the forecast period, followed by Europe. The Americas segment is mainly driven by the growing prevalence of hemophilia in the region and the growing availability of effective gene therapy and recombinant coagulation factor concentrate products in the U.S. and Canada. The growing biotechnology sector in the U.S. and Canada has been the major driver for the hemophilia treatment market in North America and is likely to ensure steady growth of the market over the forecast period. Rising support for healthcare research activities in the U.S. is likely to be a major driver for the global market over the forecast period.
Asia Pacific is expected to exhibit rapid growth in the global hemophilia treatment market over the forecast period due to the growing prevalence of hemophilia, increasing healthcare expenditure developing countries in the region, and the steady rise of the biotechnology and gene therapy sector in countries like China, India, South Korea, and Japan. The rising medical research industry in Asia Pacific is likely to be a key driver for the hemophilia treatment market in the region over the forecast period.
Updates:
In May 2019, St. Jude Children’s Research Hospital and the World Federation of Hemophilia announced a joint venture to track and supply the hemophilia treatment needs in underserved countries. The first plan on the agenda for the venture is conducting a gene therapy clinical trial in low- and middle-income nations.
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