The global hemophilia market is predicted to touch USD 17 billion by 2026, this industry is expected to witness significant growth with the CAGR of 5.3% over the upcoming years. Rising need to conduct prophylactic treatment is expected to propel the Hemophilia market growth over the forecast period.
Hemophilia drugs are coming out to be one of the crucial medicinal product to limit the loss of blood as there is no precise treatment available to treat this disorder. Among the types of disorders, type A is predicted to be four times more prevalent than type Balso it is the most commonly occurring type. The types of hemophilia are characterized on the basis of the coagulation factor deficiency present in particular patient.
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On the other hand, the increasing patients with hemophilia disorder at a global level is expected to boost market growth. For example, the NHF (National Hemophilia Foundation) stated a statistics that,out of the registered cased in the U.S.about 60.0% cases fall into the severe category of type A. Such factors are expected to be driving the demand for a more permanent solution. Also, the preference for hemophilia is rising among patients rather than replacement through chemically synthesized factors.
The growth of type A segment is expected to be moderate over the forecast period as for the treatment of Type A multiple drugs are available from the pharmaceutical industry.The company named Baxalta, which is one of the leading Type A drugs supplier for Hemophilia in Japan, China, South Africa, U.S., Germany, and the U.K. The company provides drugs named as Advate and Recombinate. The government limitations for the distribution of these drugs in some countries is although limiting the growth of the market.
The global hemophilia market is segmented into type, treatment, therapy, and region.On the basis of type, the global hemophilia market is segmented into Hemophilia A, Hemophilia B, Hemophilia C. The global Hemophilia market is also segmented by treatment. This segmentation includes On-demand and Prophylaxis. The hemophilia market is also bifurcated on the basis of therapy which includes Replacement Therapy, Gene Therapy. On the basis of the region, the global agricultural fumigants market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and the Asia Pacific.
Considering the regions, the North America region is holding a lion’s share in the global hemophilia market in terms of revenue generation from the sale of hemophilia. The North America region is holding the highest market share and expected to continue a similar trend by the end of the forecast period. The factors such as the rise in awareness about the hemophilia disorder and need to have a cure for this is propelling the market growth in this region.
Moreover, the Asia Pacific region is expected to be the fastest developing region segment over the forecast period. The increasing initiative taken by the government to promote the usage of hemophilia drugs is foreseen to accelerate the demand for hemophilia over the forecast period. Also, the application of hemophilia in the Key therapies including replacement therapy, Immune Tolerance Induction therapy, and gene therapy is boosting the growth in this region.
Europe is one of the huge consumers of hemophilia as the pharmaceutical advancements in this region. In addition, constant research and development activities going on in the developed countries present in this region such as U.K., Germany, and others is boosting the awareness and consumption of hemophilia and hence boosting the market growth.
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Some of the leading players contributing to the hemophilia market included Baxalta, CSL Behring, Pfizer, Inc., Bayer Healthcare, BioMarin Pharmaceutical, Inc., Biogen, Chugai Pharmaceutical Co., Novo Nordisk, Shire Plc., and others.
These manufacturers are currently leveraging their presence in this market by coming up with more improved and patient cantered drugs. Also, the manufacturers are focusing on partnerships with government organizations to deliver compliant drugs and boost market growth.
For example, In March 2016, Baxalta which is one of the leading hemophilia treatment drugs suppliers filed an application with EMA (European Medicines Agency)for marketing authorization of its drug named as Adynovi (Adynovate in the U.S.). This drug is under regulatory evaluation in Switzerland. Hence, the availability of such government regulatory policy complaint drugs to the patients for treatment of hemophilia is expected to fuel the demand for these drugs over the forecast period.
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