The global Hemophilia market is estimated to hit nearly USD 17 billion by 2026. The hemophilia market islikely to grow with 5.3% CAGR during the forecast years.
The increasing initiatives at the global level to create awareness about hemophilia drugs from the government, as well as non-government organizations, is one of the prime factor boosting the market growth. Also, the increase in delivering a prophylactic treatment is likely to fuel the demand for hemophilia.
The importance of hemophilia drugs in delivering a gene therapy and replacement therapy is foreseen to be a key driver for market growth. As the Hemophilia is a genetic disorder, it is needed to be cured with sufficient and effective medical treatment dosages. The lack of awareness about the hemophilia is one of the major restraining factor limiting the growth of the market but the government and non-government agencies are increasing conducting programs to increase awareness about hemophilia. Hence, such activities are expected to promote the awareness and applications of hemophilia drugs and boost market growth.
According to the National Hemophilia Organization, the exact number of worldwide incidence of hemophilia are not well known, but it is estimated at more than 400,000 people. The organization also states that approximately 75% of people with hemophilia around the world still receive inadequate treatment or have no access to treatment.The manufacturers of treatment drugs for this disorder are facing a significant challenge while coming up with suitable treatment for hemophilia as there is no exact drug is available. The regulatory bodies are facing increasing pressure to create a therapy for hemophilia disorder and due to such factors, the research and development projects are increasing rapidly.
Market By Type
Market By Treatment
Market By Therapy
Market By Geography
Considering the demand for Hemophilia, the North America region is dominating the hemophilia market in 2018. The North America region is predicted to continue its dominance over the end of the forecast period by holding the share of more 35%. The increasing inclination toward treatment of prophylaxis is expected to be the key factordriving the growth in this region.
Among the other regions, the Asia-Pacific region is anticipated to witness the substantial growth over the forecast period by registering the highest CAGR growth. Increasing awareness about hemophilia among the emerging countries including India, Indonesia, Malaysia, Japan, and others is expected to boost the market growth. In addition, the increasing disposable income backed by the advancements in the medicinal treatments such as the use of therapies for the treatment of hemophilia disorder is fuelling the demand for hemophilia.
The hemophilia market is highly dominated by leading players as it is a rare disorder and no accurate treatment is present for this disorder. Some of the key players in this industry include Baxalta, CSL Behring, Pfizer, Inc., Bayer Healthcare, BioMarin Pharmaceutical, Inc., Biogen, Chugai Pharmaceutical Co., Novo Nordisk, Shire Plc., and others.
These players are leveraging their current position in this market and also implementing some strategies to fuel revenue pocketing process by selling drugs. Some of the prominent strategies include geographical expansion to new regions and increasing investments in R&D for developing improved medicine alternatives.