Hemophilia Treatment Market To Find Better Growth with US$ 19.1 Billion By 2027 | CAGR: 5.9%: Coherent Market Insights
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Global Hemophilia Treatment Market, by Product Type (Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrates, Antifibrinolytic Agents, and Desmopressin), by Disease Indication (Hemophilia A, Hemophilia B, and Hemophilia C), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 11,474.3 million in 2018 and is expected to exhibit a CAGR of 5.9%, over the forecast period (2019-2027).
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The rising incidence and prevalence of hemophilia or factor VIII deficiency is expected to fuel the global hemophilia treatment market growth during the forecast period. For instance, according to the World Federation of Hemophilia (WFH), around 440,000 people across the globe were suffering from hemophilia, out of which around 173,000 people were diagnosed with hemophilia A or B in 2017. Key players in the market are focused on product launches and approvals, as there is huge demand for hemophilia treatment. For instance, in March 2016, the U.S. Food and Drug Administration approved Kedrion’s Koate Double Viral Inactivation (DVI) Antihemophilic Factor (human) with Mix2Vial, for treatment of factor VIII deficiency. Moreover, in May 2018, Chugai Pharmaceutical Co., Ltd., a subsidiary of Roche Group, launched its anticoagulation factor IXa/X humanized biospecific monoclonal antibody/coagulation factor VIII substitute, HEMLIBRA, for routine prophylaxis, to prevent or reduce the frequency of bleeding episodes in patients with congenital factor VIII deficiency (hemophilia A) with factor VIII inhibitors.
Browse 35 Market Data Tables and 21 Figures spread through 188 Pages and in-depth TOC on ‘Hemophilia Treatment Market, by Product Type (Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrates, Antifibrinolytic Agents, and Desmopressin), by Disease Indication (Hemophilia A, Hemophilia B, and Hemophilia C), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027
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Among region, Asia Pacific is expected to offer lucrative growth opportunities for players operating in the hemophilia treatment market. This is due to the favorable regulatory scenario and guidelines by government authorities, which is expected to drive the market growth during the forecast period. According to the Chinese Ministry of Health report 2012, in China, outpatient hemophilia treatment is covered by health insurance schemes in more than 80% of the cities in China, with reimbursement caps and patient co-pay requirements more than 50%. Moreover, annual reimbursement is usually capped below US$ 16,000.
Moreover, various key players in the market are focusing on adopting strategies such as collaborations, in order to develop novel therapies for factor VIII deficiency treatment. This is expected to drive the market growth during the forecast period. For instance, in August 2018, RCSI, a Dublin-based international health sciences institution, and Bayer AG entered into a research collaboration to develop new treatment options for people suffering from severe hemophilia. Furthermore, in May 2017, Sangamo Therapeutics, Inc., a genomic medicine company, and Pfizer Inc. entered into a global collaboration and license agreement for development and commercialization of a gene therapy-based product for treatment of hemophilia A.
Key Takeaways of the Hemophilia Treatment Market:
- The global hemophilia treatment market is expected to exhibit a CAGR of 5.9% over the forecast period. This is attributed to increasing incidence of hemophilia, and novel product approvals and launches. For instance, according to the National Hemophilia Foundation’s 2018 report, globally, one in 10,000 people are born with hemophilia A due to deficiency of clotting factor VIII and one in 50,000 people are born with hemophilia B due to lack of clotting factor IX.
- Among product type, the plasma derived coagulation factor concentrates segment held dominant position in the hemophilia treatment market in 2018, as it is cost-effective. For instance, according to the reports published by the World Federation of Hemophilia in 2016, the demand for plasma derived coagulation factors is high when compared to recombinant coagulation concentrates due to its affordability and easy availability in emerging economies.
- Key players operating in the global hemophilia treatment market include Takeda Pharmaceutical Co., Ltd., Sanofi S.A., Octapharma AG, Swedish Orphan Biovitrum AB, Baxter International Inc., Biogen Inc., Bayer AG, CSL Behring, Ferring B.V., Pfizer, Inc., Kedrion, Novo Nordisk A/S, and F. Hoffmann-La Roche AG
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