Hemophilia Treatment Market Overview
The global hemophilia market is forecasted to witness a steady growth of 6.10% during the forecast period between 2018 to 2023. The market valuation is slated to jump from USD 11,257.21 in 2017 to USD 16,059.17 by the end of the forecast period.
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The report published by Market Research Future (MRFR) identifies that the prevalence of hemophilia will spring up the demand for hemophilia treatment globally. The emergence of recombinant products for the treatment of hemophilia has blossomed the interest and demand for the market. The absence of a precise cure and the growing setbacks with the treatment of hemophilia has increased the need for discovering and coming up with new and effective solutions. Gene therapy is increasingly being explored and considered as a permanent solution for hemophilia and offers vast opportunities for the growth of the market.
However, the high cost associated with the treatment and the level of expenses required for consistent lab testing and imaging tests can go on to hamper the market growth of hemophilia treatment.
Hemophilia Treatment Market Segmentation
The global hemophilia treatment market segmentation is based in terms of type, end-user, and treatment.
By type, the market is categorized into hemophilia A, hemophilia B, and hemophilia C. The hemophilia A segment holds the largest share of the global market. The valuation of the segment is expected to reach USD 12.697.99 by the end of the forecast period, 2023. The calculated growth rate of the market annually has been projected to be 6.23% during the forecast period.
By treatment, the market comprises of recombinant coagulation factor concentrates, plasma-derived coagulation factor concentrates, desmopressin, gene therapy, and antifibrinolytic agents. The recombinant coagulation factor concentrates is the largest market share holder with an expected CAGR of 7.01% during the review period.
By end-users, the market includes hospitals & clinics, research organization, and others. Hospitals & clinics lead this segmentation of the market and is valued at USD 7594.66 in 2017 and is expected to grow the fastest over the forthcoming years.
Hemophilia Treatment Market Regional Analysis
The regional segmentation of the hemophilia treatment market covers the following regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The Americas stand tall as the largest market share holder in the global geographical segmentation. This is due to the prevalence of the hemophilia disorder and the presence of a well-established healthcare sector. Growing expenditure in healthcare and increasing support for research and development activities are expected to aid the Americas region to maintain its leadership position. The North American market contributes more to the region than its southern counterpart.
Europe holds the second biggest market share due to a parallel growth pattern like the Americas. Moreover, government support for R&D activities for advanced medical therapies for hemophilia is another important driver to the market growth in this region.
Asia Pacific is expected to grow with the highest CAGR of 8.38% during the review period. The healthcare sector in this region is advancing at a rapid pace owing to the high disposable income in the region and expanding advanced medical facilities. The presence of a vast patient population base and a high healthcare expenditure is expected to positively impact the Asia Pacific market growth.
Hemophilia Treatment Market Competitive Landscape
The global hemophilia treatment market includes various noteworthy players like Baxter, F.Hoffmann-La Roche Ltd, Octapharma, Swedish Orphan Biovitrum AB, Pfizer Inc, CSL Behring, Sanofi, Kedrion, Novo Nordisk A/S, Bayer AG, Grifols International S.A, and Shire.
Feb 19th, 2019, Novo Nordisk announced in a press release about the US FDA approval of N8-GP, turoctocog alfa pegol, to help treat children and adults with hemophilia A in the United States. The therapy will be under the brand name of Esperoct
Feb 7th, 2019, Roche announced its joining with the World Federation of Hemophilia (WFH) Humanitarian Aid Program. The program will see the company treating more than 1,500 people with Hemophilia A across various developing countries.
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