Hemophilia is a rare recessive bleeding disorder that poses difficulties in blood clotting. Although it is prevalent in relatively smaller population size, the incidence of hemophilia has surged significantly in recent years. As a result, government institutions and international health agencies are driven to embrace novel procedures and techniques to treat hemophilia. In addition to developing innovative treatments, world health leaders also strive to enhance awareness about early-stage diagnosis and treatment of hemophilia. These factors are poised to generate favourable business outcomes for the global hemophilia treatment market. In the near future, leading manufacturers are projected to engage in open innovation and strategic partnerships, creating headways for robust growth in the global hemophilia treatment market.
Fairfield Market Research finds that the global hemophilia treatment market is poised to reach a total market valuation of US$ 21, 349 million by 2027, registering a CAGR of 5.2% over the study period. The global hemophilia treatment market recorded a revenue of US$ 14,785.4 million in 2021. Considering this, the expected market share is a strong indicator of the fruitful business opportunities floating across the market. Key growth drivers include the widespread prevalence of diseases pertaining to blood clotting and intense innovation in novel therapeutics.
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Novel Therapeutics Facilitate Advanced Hemophilia Treatment, Sound Business Outcomes
An increase in the adoption of novel therapeutics namely, biphasic antibodies, extended half-life factor concentrates (FVIII/FIX), hemophilia gene therapy, and targeting of natural anticoagulant pathways are projected to substantially enhance the treatment of hemophilia in the coming years. New clotting factor concentrates (CFCs) have notably reduced the concerns around patient care. However, further developments in novel therapeutics, particularly those related to treatment efficacy and convenience, are a pressing demand. In 2019, on the basis of treatment type, the recombinant factor concentrates segment held the largest market share of ~45%. Over the forecast period, this segment is poised to sustain this market dominance. Moreover, in terms of application type, the prophylaxis segment is set to witness the highest growth between 2022 to 2027, reaching a total market value of US$ 8 billion by the end of the study period.
Despite this promising business scenario, the lack of cost-effective treatments and concerns around the efficacy of modern hemophilia treatments are anticipated to restrict growth of the global hemophilia treatment market. Industry players are expected to tackle these challenges through government rebates, awareness campaigns, and collaboration.
North America to Sustain Global Dominance
In terms of volume, North America is poised to continue its dominance over the global hemophilia treatment market. In 2022, North America observed a total market valuation of US$ 6,481 million – this is set to rise to US$ 7,899 million by 2027, growing at a CAGR of 4.0%. In this region, the presence of key market players, higher per capita income, availability of government rebates, strong RD in the health sector, and widespread awareness about hemophilia treatment are the major factors that contribute to the growth of the global hemophilia treatment market. Further, during the forecast period, the Asia Pacific is anticipated to demonstrate the fastest growth, registering a robust CAGR of 7.2%.
Prominent market players in the global hemophilia treatment market include Novo Nordisk, F. Hoffman La Roche Ltd., Bayer AG, Medexus Pharmaceuticals Inc., BioMarin Pharmaceuticals, Inc., Takeda Pharmaceuticals Company Ltd., Pfizer Inc, Octapharma AG, and CSL Behring among others.
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