Hemophilia Market, Size, Share 2021-2028
Added: (Wed Nov 24 2021)
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Market Overview
The Global Hemophilia Market is expected to grow at a high CAGR of 5.5% during the forecasting period (2021-2028).
Hemophilia is an inherited bleeding disorder in which a person lacks or has low levels of certain proteins called “clotting factors” and the blood doesn’t clot properly as a result. This leads to excessive bleeding. There are 13 types of clotting factors, and these work with platelets to help the blood clot. Platelets are small blood cells that form in your bone marrow. According to the World Federation of Hemophilia (WFH), about one in 10,000 people are born with this disease.
People with hemophilia bleed easily, and the blood takes a longer time to clot. People with hemophilia can experience spontaneous or internal bleeding and often have painful, swollen joints due to bleeding into the joints. This rare but serious condition can have life-threatening complications.
The extent of the symptoms depends on the severity of your factor deficiency. People with a mild deficiency may bleed in the case of trauma. People with a severe deficiency may bleed for no reason. For instance, the NHF (National Hemophilia Foundation) allows to find treatments for inheritable bleeding disorders and help prevent complications of these disorders through research, education, and advocacy. Their programs and initiatives are in association with the Centers for Disease Control and Prevention.
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Market Dynamics
The market is driven is the rising need of hemophilia medicines in order to cater to the crucial medicinal requirement to limit blood loss is one of the prime growth factor for the global hemophilia market. Also, unavailability of any firm cure that can completely eliminate the disorder from the body of patients is also influencing the growth of global hemophilia market.
The growth of global hemophilia market is also attributed to the augmented focus on intense research and development in order to provide more efficient drugs for the patients. Major technological advancements in the healthcare sector is also one of the major parameter that is responsible for the growth of global hemophilia market. Finally, the race to capture maximum opportunities by the players is also a prime reason supporting the growth of global hemophilia market.
About 400 babies are born with hemophilia each year in the United States. According to the World Health Organization (WHO), there is a bigger prominence in males than in females. About 1/3rd of new diagnoses are where there is no earlier family history. It appears worldwide and is observed across all racial groups. About 6,000 people are suffering from hemophilia in the United Kingdom (as in 2018). There are approximately 5400 people in the UK with hemophilia A and about 1100 with hemophilia B. Hence the high prevalence of the disease is acting as one of the factors fueling the market growth all across the globe.
In addition, U.S. Hemophilia Treatment Center Network provides specialized healthcare centers and these offer care to address all psychological, educational, and physical needs of patients suffering from the disease. These centers currently provide care to more than 35,000 adults and children with the disease and other bleeding disorders.
Rising incidence of the disease is estimated to propel hemophilia market growth over the forecast period. According to the data published by the NHF, around 20,000 individuals in U.S. are suffering from this disease. In addition, approximately 75% of people with hemophilia receive inadequate treatment or have less/ no access to treatment globally.
However, high cost of treatment and lack of awareness regarding advanced technologies will hamper the growth of the market in the forecast period.
Segment Analysis
– By Disease Type
• Hemophilia A *
• Hemophilia B
• Hemophilia C
• Others
– By Therapy
• Replacement Therapy
• ITI therapy
Geographical Presentation
By region, the hemophilia market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global hemophilia market and is expected to grow at the highest CAGR during the forecast period due to major technological advancements that are driving the healthcare sector in the region.
NHF (National Health Federation) is an organization that has been awarding grants and fellowships in order to support innovative research intended for finding better treatments and cures for several bleeding disorders. Such researches have led to vital insights into improved factor replacement therapies, along with more accurate hemophilia diagnostic methods and therefore definitely a greater understanding of the genetic basis of the disease.
Through the efforts and guidance of NHF's Medical and Scientific Advisory Council (MASAC), an internationally distinguished group of expert scientists, physicians as well as other treatment specialists, NHF has been engaged since long in advancing the standard of clinical care and issuing treatment recommendations for hemophilia.
Moreover, NHF states that the number of people with hemophilia in the United States is estimated to be about 20,000 individuals in 2019. Hence, owing to the rising prevalence of the disease along with the growing initiatives by several organizations is driving the market growth in the region.
The Asia-Pacific region is expected to have third-largest share due to presence of a large patient pool, availability of skilled technicians at a comparatively lower price, and a defined regulatory framework favoring expedited product approvals. Furthermore, the booming medical tourism industry in countries such as India, China, and Malaysia are expected to boost demand for the treatment. These factors stimulate market growth over the forecasted period in the region.
Competitive Analysis
The hemophilia market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition Bayer Healthcare, Biogen, Biotest AG, CSL Behring, Ferring B.V., Genentech, Kedrion, Novo Nordisk, Octapharma, Pfizer, Sanofi SA, are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to expand their presence and meet the rising demand for the medical hemophilia market across the globe. For instance, BioMarin is involved in developing Valoctocogene Roxaparvovec (BMN-270) for treating type A patients and is currently under clinical trials.
In June 2017, the U.S. FDA accepted the investigational new drug application for Sanofi’s BIVV001 based on its preclinical study results.
In March 2016, Baxalta filed a marketing authorization application for Adynovi with EMA. This application is under regulatory evaluation in Switzerland. Once completed, the company shall have all the marketing right for the product of Aynovi.
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