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Global Hemophilia Treatment Market to Surpass US$ 19.1 Billion by 2027 - Coherent Market Insights

By: Issuewire
Hemophilia Treatment Market

Hemophilia Treatment Market – A Significant Management for Hemophilic Patients

Seattle, Jan 2, 2020 (Issuewire.com) - According to Coherent Market Insights, the global hemophilia treatment market 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).

Key Trends and Analysis of the Hemophilia Treatment Market:

Key trends in the market are rising incidence of bleeding disorders or hemophilia, and increasing product approvals and launches coupled with novel development of treatment by players which are expected to propel the market growth.

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Increasing incidence of bleeding disorders or hemophilia is expected to boost the growth of the market over the forecast period. For instance, according to the World Federation of Hemophilia report 2018, over 337,000 people suffered from bleeding disorders globally, out of which 210,454 people were diagnosed with hemophilia. Moreover, according to the World Federation of Hemophilia, around 2,653 patients were suffering from hemophilia in Australia, and 2,152 were diagnosed with hemophilia A in 2018.

Increasing product approvals and product launches are other factors that are expected to boost the growth of the market. For instance, in August 2018, Bayer AG received the U.S. Food and Drug Administration approval for its new hemophilia A treatment product, Jivi, with a flexible dosing regimen. It is used for treating bleeding in adults and adolescents (12 years of age and above), who are previously treated for hemophilia A. Moreover, in February 2018, Shire, a subsidiary of Takeda Pharmaceutical Co., Ltd., received approval from the Ministry of Food and Drug Safety for Adynovate, for its long-lasting factor VIII gene recombinant for hemophilia A treatment.

Furthermore, key players operating in the market are focusing on the development of novel drug delivery therapies for the treatment of Factor VIII deficiency. For instance, in 2016, researchers from the Cockrell School of Engineering at The University of Texas, Austin, developed a biodegradable delivery system for treatment of people suffering from Factor VIII deficiency. This system was affordable and less painful compared to other conventional injections or infusions.

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However, the high cost of treatment therapies in the developing economies are expected to restrain the market growth over the forecast period. For instance, according to the Hemophilia Federation India's 2016 report, factor VIII deficiency treatment cost in India is around US$ 300 - US$ 500. However average adult requires 1,000 - 1,500 units of blood per dose in case of bleeding, and two such doses need to be given at one time, which is not affordable by middle-income population. Thus, it is expected to be a restraining factor for the growth of the market in India.

Key Market Takeaways:

  • The global hemophilia treatment market is expected to exhibit a CAGR of 5.9% over the forecast period (2019-2027) due to rising prevalence of hemophilia. For instance, according to the National Hemophilia Foundation 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. Moreover, according to the World Federation of Hemophilia's 2018 statistics, in China, around 18,712 people were suffering from hemophilia A, and 16,158 people were diagnosed with hemophilia A in 2018.
  • Key players in the market are focused on acquisitions and collaboration strategies to enhance their product portfolio, which is expected to propel the market growth over the forecast period. For instance, in October 2019, Novo Nordisk A/S and Bluebird Bio entered a three-year research collaboration to develop next-generation Vivo genome editing treatment for genetic diseases such as hemophilia. As part of the research collaboration, Bluebird Bio and Novo Nordisk A/S are focusing on the development of gene therapy for the treatment of people with hemophilia A.

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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, F. Hoffmann-La Roche AG.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Source :Coherent Market Insights

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