New York, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Rising incidences of hemophilia, increasing awareness, technological advancements, strategic developments by key market players such as partnerships and mergers and acquisitions, favorable research and developments are the key factors propelling the hemophilia market.
According to the current analysis of Reports and Data, the global Hemophilia market was valued at USD 11.10 Billion in 2018 and is expected to reach USD 16.84 Billion by the year 2026, at a CAGR of 5.4 percent. Hemophilia is a rare genetic disorder in which blood doesn't clot normally because it lacks sufficient blood-clotting proteins known as clotting factors. Among the types of disorders, type A is anticipated to be multiple times more predominant than type B. The global market for hemophilia drugs is growing significantly, owing to the increasing number of hemophilic patients globally.
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Hemophilia medications are turning out to be one of the essential medicinal products to confine the loss of blood as there is no exact treatment accessible to treat this disorder. Strategies such as geographical expansion by the key market players and new product development are expected to have the most impact on the Hemophilia market. Rising prevalence of the disorder, a significant focus of key market players on the development of gene therapy mechanism, increasing awareness about the disorder, and favorable regulatory scenario, are some of the key factors that support the market growth in the industry.
However, lack of availability of medicine and high cost of treatment are the factors that limit the market growth over the globe during 2019-2026.
Further key findings from the report suggest
- Launch of products for hemophilia treatment is expected to support the market growth during the coming years. For instance, in May 2018 FDA approved Roche’s Hemlibra for treatment of hemophilia with or without inhibitors.
- North America dominates the regional hemophilia market and held around 48% market share in 2018.
- Hemophilia B is projected to be the fastest growing segment at a CAGR of 5.7%. However, low availability of treatment for the segment is a major challenge for the market growth for this segment.
- Asia Pacific is expected to show a high growth rate in the hemophilic market and will grow at a CAGR of 6%
- Recombinant coagulation factor concentrate and plasma coagulation factor concentrate are the common options to treat hemophilia and are expected to take up an important position in the global hemophilia market owing to increased prevalence of the von Willebrand Disease.
- On-demand treatment segment is expected to grow at a CAGR of 5.6%.
- Treatment for hemophilia is in the clinical pipeline stage. And the multiple treatments that are underway are expected to significantly improve the quality of life of patients suffering from hemophilia.
- Availability of treatment and lack of awareness about hemophilia is likely to hinder the market growth during the forecast period.
- Key participants include Shire (Takeda), Bayer Healthcare, CSL Behring, Novo Nordisk, Sanofi, Pfizer Inc., among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/hemophilia-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Hemophilia market on the basis of type, product type, treatment type, therapy type, and region:
Type (Revenue, USD Million; 2016–2026)
- Hemophilia A
- Hemophilia B
- Hemophilia C
- Others
Product (Revenue, USD Million; 2016–2026)
- Plasma derived coagulation factor concentrates
- Factor VIII
- Factor IX
- Factor XII
- Activated prothrombin complex concentrate
- Von Willebrand factor
- Recombinant coagulation factor concentrates
- Factor VIII
- Factor IX
- Von Willebrand factor
- Desmopressin
- Antifibrinolytic agents
- Others
Treatment Type (Revenue, USD Million; 2016–2026)
- Prophylactic
- On-Demand
Therapy Type (Revenue, USD Million; 2016–2026)
- Replacement Therapy
- Immune Tolerance Induction Therapy
- Gene Therapy
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Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Europe
- France
- UK
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East and Africa
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