The
global hemophilia market valuation is anticipated to reach USD 15.2 billion by
2025, according to a report by Grand View Research, Inc. The market was valued
at USD 9.86 billion in 2016 and expects to expand at around 5.6% CAGR from 2013
to 2024 (forecast period). According to a report by the World Federation of
Hemophilia (WFH), only 30% to 40% individuals have undergone blood testing in
2013. Nearly 400,000 people were diagnosed with hemophilia in the same year.
High probability of diagnostic procedures to discern blood-related disorders
and appropriate measures for their treatment can drive market growth in near
future.
Rising
need for rapid diagnosis of hemophilia and government programs to assist in
diagnosis are projected to augur the hemophilia market. Efforts by notable
organizations such as the World Health Organization (WHO), Centers for Disease
Control and Prevention (CDC), and Healthy Newborn Network (HNN) can further
boost the market. An upsurge in the neonatal populace can positively drive the
market development during the forecast period.
Full Research Report On Hemophilia Market Analysis:
https://www.grandviewresearch.com/industry-analysis/hemophilia-treatment-industry
Mandatory
screening procedures for hemophilia in neonates can bode well for the market
for hemophilia. In addition, introduction of co-pay assistance programs made
with cooperation of industry players to alleviate financial costs of tests are
other factors expected to influence the market in the forthcoming years. For
instance, Grifols S.A., an European company, has announced the launch of “ALPHANATE
Copay Program” and “AlphaNine SD Copay Card” for immediate enrolment of
patients opting for prophylaxis treatment.
Availability
of limited therapies and enormous pressure on regulatory agencies to offer
treatment options for royal blood diseases can increase the R&D expenditure
for these diseases. Performance and efficacy of existing treatments and
initiatives to commercially adopt prophylaxis treatment can also bode well for
the market during the forecast period.
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The
worldwide hemophilia market is segmented by type, treatment, therapy, and
region. By type, the market is divided into hemophilia A, B, C, and others. The
hemophilia B segment is expected to exhibit a 6% CAGR over the forecast period
owing to incidence of hemophilia B and emphasis on development of pipeline drugs
to treat the disease. The hemophilia A segment can experience limited growth in
near future due to an array of drugs already present in the market in addition
to its high prevalence around the world.
By
treatment, the market is bifurcated into prophylaxis and on-demand. The
on-demand segment is expected to dominate the market with more than 50% share
by 2024. The prophylaxis segment, on the other hand, is touted to grow at a
robust rate due to easy availability of financial assistance programs and high
need for better bleeding control.
Based
on therapy, the hemophilia market is fragmented into replacement, gene, and
immune tolerance induction therapies. The replacement therapy segment can enjoy
a remarkable growth rate during the forecast period due to the launch of
extended half-life versions of the existing drugs.
Regions
covered in the market report include North America, Latin America (LATAM),
Middle East & Africa (MEA), Asia-Pacific (APAC), and Europe. The North
America market is expected to dominate over the forecast period on account of
high prevalence of diseases and early adoption of prophylaxis treatment. In the
2013 survey conducted by the WFH, around 63% U.S. patients had adopted for
prophylaxis. This high rate of adoption can continue driving the regional market
in the forthcoming years.
The
LATAM and APAC markets are anticipated to exhibit significant CAGRs
respectively over the forecast period due to awareness regarding hemophilic
diseases and rise in their prevalence. Availability of technologically advanced
products, rise in R&D, and demand for plasma and recombinant derived
products are also expected to bolster market growth over the forecast period.
Prominent
players in the hemophilia market include Baxalta, Bayer Healthcare, F.
Hoffmann-La Roche AG, Pfizer Inc., and Shire PLC. Developing additional
products coupled with expansion plans in Middle Eastern and West African
countries are strategies being considered by these players to increase their
market share. Mergers, collaborations, and acquisitions are some of the strategies
being considered by players to sustain their market hold. For instance, Biogen
has partnered with the National Hemophilia Foundation (NHF), American
Thrombosis and Hemostasis Network (ATHN), and Puget Sound Blood Center (PSBC)
to launch a nation-wide program for free genetic testing of individuals and
families ailing from blood-borne maladies.
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-hemophilia-market
https://www.grandviewresearch.com/press-release/global-hemophilia-market
About Grand View
Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
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