Hemophilia Treatment Market Prominent Players - Bayer Healthcare, Biogen, Biotest AG, CSL Behring, Ferring B.V., Genentech, Kedrion, Novo Nordisk, Octapharma, Pfizer
Hemophilia Treatment Market trends research and projections for 2019-2025
Ocean View, DE -- (SBWire) -- 05/22/2020 --Hemophilia Treatment Market will exceed USD 14.8 billion by 2025; as per a new research report.
Increasing burden of bleeding disorders including hemophilia will stimulate global hemophilia treatment market growth in upcoming years. According to the World Federation of Hemophilia, the global prevalence of hemophilia was depicted to be around 184,723 in the year 2016. Currently, the number of individuals in the U.S. suffering from hemophilia is predicted to be about 20,000. Individuals with hemophilia A is anticipated to be around 149,764 and individuals with hemophilia B are around 29,712. According to the Center for Disease Control and Prevention, average age for diagnosis of hemophilia is 36 months for mild hemophilia, 8 months for moderate hemophilia and 1 month for severe hemophilia. Thus, rise in prevalence of hemophilia will boost the hemophilia treatment business growth in the forthcoming period.
Rise in initiatives and educational programs by the government will further boost the hemophilia treatment market. Organizations such as World Federation of Hemophilia (WFH) along with government of several countries carry out diagnosis program. One such program is Cornerstone initiative by WFH for underprivileged people. Furthermore, increase in R&D activities along with novel drug launches will upsurge the growth of hemophilia treatment market; for instance, gene therapy is under clinical investigation.
Request sample copy of this report @ https://www.decresearch.com/request-sample/detail/2772
Additionally, increasing adoption of prophylaxis treatment by individuals suffering from hemophilia is contributing to the growth of the market. However, high-costs associated with hemophilia drugs will limit the growth of hemophilia treatment market. Furthermore, lack of awareness and adequate treatment in developing and under-developed countries will have negative impact on the market growth.
Hemophilia A segment will hold a notable revenue size of USD 6,743.7 million in the year 2018. The prevalence rate is high in developing and underdeveloped economies. According to the National Hemophilia Foundation, hemophilia A is four times more common than hemophilia B. Thus, increase in number of individuals suffering from hemophilia A along with rise in awareness regarding treatment of hemophilia will positively impact the growth of segment.
Recombinant coagulation factor concentrates market is estimated to dominate the market in the coming years and grow at 5% over the estimation period. Additionally, recombinant coagulation factor concentrates have a low risk of transmitting an infectious disease and are used to prevent viral infection. Also, recombinant coagulation factor concentrates increases the safety of replacement therapy, increasing its adoption rate leading to increased business growth over the forecast period.
Make Inquiry about this report @ https://www.decresearch.com/inquiry-before-buying/2772
Prophylaxis treatment market segment will hold a significant revenue size of USD 7,219.9 million in 2018 and is estimated to hold majority market share over the forthcoming years owing to rise in adoption of prophylaxis treatment. Patients with severe hemophilia are recommended prophylactic treatment to avoid bleeding episodes. Furthermore, some recent studies have proven prophylactic treatment to be quite effective with incidence of joint pain getting reduced by prophylactic treatment. Thus, better efficacy and merits over other treatment will increase its adoption rate, thereby leading to upsurge in prophylaxis segment revenue.
Factor replacement therapy market will grow at a significant pace owing to its preference over other therapies. Recombinant factor replacement therapy is the first line treatment for patients with moderate to severe hemophilia. Increasing R&D investments and new drug launch in replacement therapy is estimated to drive the growth of segment. Furthermore, increasing awareness amongst the patients regarding factor replacement therapy will boost the market growth.
Coagulation factors market held a significant market share and was valued at USD 9,948.3 million in the year 2018. Coagulation factors are used in replacement therapy. The rise in prevalence of moderate to severe hemophilia will spur the demand of replacement therapy, thereby boosting the demand for coagulation factors.
Injectables route of administration is projected to witness growth at 5% over the estimation period owing to majority of medications that are dispensed in injectable form. Also, bioavailability of intravenously administered drug is 100%, thus, intravenous route is preferable for quick action. Nasal spray segment is anticipated to foresee momentous growth in the coming years due to various advantages offered by nasal route over injectables such as ease of administration.
Hemophilia treatment in adult will dominate the patient segment and was valued at USD 6,778.2 million in 2018, due to rise in prevalence of hemophilia in adults. According to one recent article, around 65% of the individuals suffering from hemophilia are adults. Also, the chances of developing moderate to severe hemophilia are high in adults. Thus, growing age results in high occurrence of hemophilia, thereby impacting the growth of segment.
Hemophilia treatment centers (HTCs) is expected to grow at 4.6% in the coming years owing to increase preference of these centers over hospitals and clinics. Hemophilia treatment centers are primarily aimed to provide comprehensive hemophilia treatment to the underprivileged patients. Additionally, HTCs focus on organizing initiatives for spreading awareness regarding hemophilia in developing and under-developed countries. Also, special care provided by HTC's will increase its preference, thereby fueling its growth.
U.S. hemophilia treatment market was valued at USD 3,539.3 million in the year 2018. According to the National Hemophilia Foundation, the number of individuals suffering with hemophilia are estimated to be around 20,000. Furthermore, favorable reimbursement policies provided by hemophilia treatment centers and insurance in the country will raise the adoption rates of hemophilia treatment.
India hemophilia treatment market is expected to grow at 9.2% in the coming years owing to rise in awareness regarding hemophilia treatment in developing economies. Furthermore, rise in government initiatives, increase in healthcare expenditure and educational programs conducted by government will further increase the market growth.
Some of the major players involved in the global hemophilia treatment market are Sanofi SA, Swedeish Orphan Biovitrum AB, Biotest AG., Genentech, among others. Companies are implementing several business strategies such as strategic collaborations, mergers and acquisition to increase their product portfolio and market footprint. For instance, in June 2018, Biotest opened two plasma collection centers in Czech Republic to complement its plasma collection capacity.
Media Relations Contact
Corporate Sales, USA
View this press release online at: http://rwire.com/1291925