The global hemophilia market size is expected to reach USD 18.1 billion by 2027, according to a new report by Radiant Insights, Inc. It is anticipated to register a CAGR of 5.5% over the forecast period. Increasing awareness of early diagnosis and treatment coupled with supportive government policies is anticipated to boost market share over the forecast period.
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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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.
The key market companies are projected to adopt strategic initiatives including geographic expansion and R&D especially in developing and underdeveloped regions, such as Middle Eastern and West African countries.
For instance, BioMarin is involved in developing Valoctocogene Roxaparvovec (BMN-270) for treating type A patients and is currently under clinical trials. Furthermore, in June 2017, the U.S. FDA accepted the investigational new drug application for Sanofi’s BIVV001 based on its preclinical study results.
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.
Further key findings from the report suggest:
• Hemophilia A held the largest market share in 2019 due to its increasing prevalence worldwide
• Type B is expected to be the fastest growing type over the forecast period, at a CAGR of 6.8%
• On-demand dominated the treatment segment over the forecast period and is expected to contribute majority of the share in 2019
• Prophylaxis is estimated to be the fastest growing segment over the forecast period
• Replacement therapy was expected to be the largest segment in 2019
• Gene therapy dominated the therapy segment over the forecast period owing to increasing involvement of companies to develop more gene therapy for its treatment
• Increasing research and development and strategic collaborations are key strategies undertaken by major players in the market space.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Information procurement
1.2.1. Purchased database
1.2.2. Radiant Insights internal database
1.2.3. Secondary sources & third party perspectives
1.2.4. Primary research
1.3. Information analysis
1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Hemophilia Market Variables, Trends & Scope
3.1. Market Lineage outlook
3.1.1. Parent/ Ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Product Pipeline Analysis
3.4. Regulation Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.1.1. Increasing population of newborns
3.5.1.2. Favorable government initiative
3.5.1.3. Rising R&D and new product development
3.5.1.4. Rising adoption for prophylaxis treatment
3.5.2. Market Restraint Analysis
3.5.2.1. High cost associated to procure treatment
Continued…
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The Hemophilia Market report takes a holistic approach to the market and gives market insights, historical analysis, and verifiable projections pertaining to the market size in the forecast duration.
The estimations derived in this report are deduced by employing precise analytical tools, research methodologies, estimates, and reliable data sources.
The information offered in the report makes it an exhaustive database for all facets of the market categorized into product types, applications, end-user industries, prominent manufacturers, technology, and regional markets.This report covers the recent COVID-19 incidence and its impact on Hemophilia.
This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The global market for hemophilia drugs is growing significantly, owing to the increasing number of hemophilic patients globally.
Rising prevalence of the disorder, a significant focus of key market players on the development of gene therapy mechanism, increasing awareness about the disorder, and favorable regulatory scenario, are some of the key factors that support the market growth in the industry.
