NEWARK, Del, June 25, 2024 (GLOBE NEWSWIRE) -- The hemophilia treatment market is forecast to reach USD 12.1 billion in 2024. Between 2024 and 2034, hemophilia treatment is predicted to register a CAGR of 4.4%. Worldwide, the hemophilia treatment market is expected to reach USD 18.7 billion by 2034.
The disease hemophilia is characterized by a loss of clotting proteins in the blood, resulting in life-threatening bleeding. As a preventative treatment, regular injections of clotting factors can also benefit people with hemophilia A. A reduction in excessive bleeding and a reduction in bleeding unnecessarily can be achieved by this method.
Hemophilia can be treated with component replacements derived from human plasma and recombinant products. With these remedies, the clotting aspect in the body is increased, which leads to better clotting and less bleeding.
Prophylactic or episodic treatment merchandise is commonly prescribed by healthcare providers. Bleeding episodes can be prevented with episodic care while bleeding episodes can be prevented with prophylactic care. Hemophilia patients can prevent and treat bleeding episodes more effectively and efficiently if they can perform infusions at home.
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Hemophilia can be treated with gene therapy, which is an area of ongoing research. Hemophilia A and hemophilia B gene therapy treatments have been approved by the FDA in recent years. Hemophilia individuals may be able to benefit from genetic treatments that can provide the missing clotting factors for a long time to come
Hemophilia is an inherited genetic disorder that impairs the body's ability to make blood clots. It occurs when there is any mutation or change in one of the genes that provide instructions for making the clotting factor proteins needed to form a blood clot. As a result, people with this condition (hemophilia) suffer from excessive bleeding after any injury or damage.
As hemophilia is a genetic disorder, there is currently no permanent cure for this medical condition. However, people use various hemophilia treatment therapies to replace the missing factor proteins needed for initiating blood clotting. The adoption of hemophilia treatments like replacement therapy and gene therapy significantly improves the life quality of patients.
Thus, the rising incidence of hemophilia and the increasing need for improving the quality of patient's life will continue to push the demand for hemophilia treatment during the forecast period.
Consequently, the expansion of hemostats for the wound close market and advancements in pharmaceutical drug delivery are likely to assist the hemophilia treatment market growth during the upcoming period.
“Advancements in treatment and revolutionary approaches to gene therapies have driven hemophilia treatment demand to unprecedented heights. Developments in diagnostics and ongoing developments in hemophilia treatments are expected to expand the market for hemophilia treatments in years ahead.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Hemophilia Treatment Market
- Historically, hemophilia treatment generated a 4.1% CAGR from 2019 to 2023.
- Through 2034, the United States and Canada market is expected to experience a CAGR of 2%.
- It is anticipated that India will exhibit a CAGR of 7.4% during the forecast period.
- Between 2024 and 2034, China's market is expected to expand at a CAGR of 6.5%.
- Based on drug class, prophylaxis accounted for 68.7% of the market in 2023.
Competitive Landscape:
Hemophilia treatment companies are actively investing in research and development in order to introduce novel therapies to the global market. As part of their growth strategy, these companies are implementing acquisitions, mergers, product developments and approvals, collaborative ventures, etc.
Key Players of the Hemophilia Treatment Market:
- Hoffmann-La Roche Ltd
- Octapharma
- CSL Behring
- Sanofi
- Bayer AG
- Baxter
- Swedish Orphan Biovitrum AB
- Grifols International S.A
- Kedrion
Recent Development:
- In February 2023, Octapharma USA filed a Biologics License Application Supplement (sBLA) to the U.S. Food and Drug Administration (FDA) expanding the approval of wilate®, von Willebrand Factor/Coagulation Factor VIII Complex (Human) Lyophilized Powder for Solution for Intravenous Injection, aimed at reducing bleeding in children and adults with von Willebrand disease (VWD).
- In December 2023, Global biotechnology leader CSL released its three-year results for its pivotal HOPE-B study, showing that HEMGENIX® (etranacogene dezaparvovec-drlb) was effective in treating hemophilia B in patients who received a one-time infusion. At the 65th American Society of Hematology (ASH) Annual Meeting and Exposition, data showing that one-time infusions of HEMGENIX increase factor IX activity levels for years were presented.
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Hemophilia Treatment Market Segmentation:
By Drug Class:
In terms of drug class, the industry is divided into clotting factors (recombinant factor concentrates, plasma-derived factors concentrate), monoclonal antibodies, antidiuretic and antihemorrhagic drugs, aminocaproic acid, antifibrinolytic agents, and gene therapy.
By Indication:
In terms of indication, the industry is segregated into a hemophilia A, hemophilia B, and Von Willebrand disease.
By Distribution Channel:
In terms of distribution channel, the industry is segmented into hospitals, specialized clinics, retail pharmacies, and mail order pharmacies.
By Region:
Key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, Middle East, and Africa have been covered in the report.
The Hemophilia Treatment Market analysis includes:
• A 10-year realistic hemophilia treatment sales forecast slicing across several verticals
• Comprehensive information on demand forecasting and sales prospects across 25 countries
• Insights into the latest hemophilia treatment market trends
• Data about leading segments and regional pockets along with their respective shares and growth forecast
• Market dynamics including drivers, restraints, and emerging opportunities
• Top hemophilia drug companies and their growth strategies
• Information about the impact of expanding the drug discovery services market on the overall demand for hemophilia treatments
• Recent developments in the hemophilia treatment market
• The winning imperatives in the hemophilia treatment market
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About the Healthcare Division at Future Market Insights:
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you to devise innovation-driven trajectories for your business.
Author:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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