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Press Release

Global Hemophilia Drugs Market to Witness Growth Through 2020, Owing to Improved Diagnostic Procedures, Reports Technavio

Technavio Research
Posted on: 03 Nov 16

Technavio analysts forecast the global hemophilia drugs marketto grow at a CAGR of more than 5% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global hemophilia drugs marketfor 2016-2020. To calculate the market size, the report considers revenue generated from the sales of drugs used for the treatment of hemophilia, including hemophilia A, hemophilia B, and inhibitors. The report also considers the revenues to be generated from the sales of drugs that are expected to be launched into the market along with the decline in revenues from the patent expiries of the marketed drugs during the forecast period.

According to Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research, “With the growing rates of diagnosis, the discrepancy between emerging countries' usage of replacement factor per capita versus that of the US and Europe will shorten over next couple of years. Additionally, the increasing convenience of the treatment regimen with the introduction of prophylactic use and growing expenditure on healthcare will improve the per capita consumption of replacement factor in developing countries, which augurs well for the growth of the market.”

Request a sample report: http://www.technavio.com/request-a-sample?report=53301

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio healthcare and life sciences analysts highlight the following three factors that are contributing to the growth of the global hemophilia drugs market:

  • Focus on prophylactic treatment
  • Drugs with prolonged action
  • Improved diagnostic procedures

Focus on prophylactic treatment

The prophylactic treatment approach prevents spontaneous bleeding episodes, increases the quality of life in terms of physical activities, and retains the level of clotting factors above a baseline. It also reduces joint damage and suffering from pain. Most short-acting therapeutics exhibit immunogenic reactions, which led to people adopting long-acting therapeutics. “Many of these long-acting therapeutics are under development and expected to be launched during the forecast period. Thus, the shift in treatment focus toward prophylaxis due to its advantages drives the market,” says Sapna.

Drugs with prolonged action

Earlier, parenteral formulations for treating hemophilia B required frequent administration of replacement factors. Drugs with favorable pharmacokinetic profiles, including prolonged mechanism of action are fast gaining acceptance among physicians and individuals. These long-acting formulations reduce the need for repeated medication, thus reducing injection site pain. ALPROLIX by Biogen is one such drug. It is a long-acting recombinant coagulation factor IX and was launched by the company in 2014. Prolix by Baxalta and BeneFIX by Pfizer are other long-acting formulations. Currently, many other long-acting drug candidates are at various developmental stages. For instance, N9-GP (NN7999) by Novo Nordisk is a long-acting formulation currently under Phase III developmental stage.

Improved diagnostic procedures

It is estimated that approximately two-thirds of hemophilia patients are from the emerging markets, especially in countries such as Brazil, Russia, China, India, Mexico, Argentina, and Turkey. However, less than 20% of these individuals are treated with hemophilia therapeutics due to the lack of availability of proper standard diagnostic methods.

However, increased healthcare spending in these countries is helping improve the diagnosis of hemophilia patients, thus,driving the adoption rate of hemophilia drugs. This upward momentum in the diagnosed patients and hemophilia drug adoption rate will further help improve the market penetration of hemophilia therapeutics in these countries. This presents a great opportunity for vendors to improve their markets in these countries, which, in turn, will drive the growth of the global hemophilia drugs market.

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Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161103006602/en/

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Last updated on: 03/11/2016

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