Hemophilia Drugs Market is projected for better diagnosis because patients with hemophilia suffer from an abnormal blood loss and this weakens their blood clotting process, Hemophilia Drugs Industry exhibit a 6.0% & strong growth in the coming years
— The Global Hemophilia Drugs Market covered a value of US$ 9875.4 Mn in the year 2017 and is anticipated to reach US$ 15830.3 Mn by 2025. Furthermore, the global market for hemodialysis is expected to report a CAGR of 6.0% during the forecast period. The above information was published in a report, titled “Hemophilia Drugs Market Size, Share and Global Trend by Disease Indication (Hemophilia A, B & C), Therapy Type (Recombinant Therapy, Plasma therapy & Others), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2025.”
The rising prevalence of severe diseases is one of the major concerns in the healthcare industry. Among these disorders, patients with hemophilia suffer from an abnormal blood loss and this weakens their blood clotting process. Companies are introducing novel hemophilia drugs and therapies to fulfil the unmet needs of patients and maintain their quality of life. A lead analyst at Fortune Business Insights said, “Companies are building expansion strategies to develop new hemophilia drugs so as to offer better diagnosis.”
Among disease indications, hemophilia A is projected to exhibit a strong growth in the coming years. In addition to this, this segment covered a share of 85% in the global hemophilia drugs market in 2017. This is mainly attributable to the rising pool patients suffering from hemophilia across the world. Also, rising initiatives at developing and commercializing new products for the effective treatment of hemophilia is driving this segment’s growth. Following hemophilia A, hemophilia B drugs are also expected to grow at a considerable rate in the years to come.
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Asia Pacific to Grow at a Rapid Pace with Rising Number of Hemophilia Patients
North America is projected to emerge dominant in the global hemophilia drugs market during the forecast period. This is mainly ascribable to the rising prevalence of hemophilia A and B, especially in countries such as Canada and the U.S. Moreover, in 2017, North America market for hemophilia drugs covered a value of US$ 3,684.7 Mn. Trailing North America, Europe is the second-leading region in the global hemophilia drugs market. The growth in this region is attributable to the rising healthcare budgets by governments and initiatives by governments to promote hemophilia drugs treatment. On the other hand, the hemophilia drugs market in Asia Pacific is likely to expand at a higher CAGR between 2017 and 2025 on account of rising number of patients suffering from hemophilia especially in countries such as China and India.
Rising Awareness About Hemophilia to Augment the Demand
The primary factor augmenting the hemophilia drugs market is the recent developments in hemophilia treatment. A lead analyst at Fortune Business Insights said “Several new drugs are expected to enter the global market in the coming years.” Also, hemophilia surgical management is gaining traction on account of increasing awareness about hemophilia across the world. Moreover, governments are planning to conduct awareness initiatives to spread knowledge regarding the use of hemophilia treatment and drugs This, in turn, is expected to drive the hemophilia drugs market over the next few years. The genetic evolution is leading to rising incidences of bleeding disorders across the world. This will further lead to hemophilia drug development in the next few years to come. As per the study conducted by the National Hemophilia Foundation or NHF in 2015, about 1% of the U.S. population is likely to suffer from a disease called von Willebrand, hence rising the need for hemophilia treatment drugs.
Pfizer Introduced Gene Therapy to Address Unmet Patient’s Needs
Some of the leading players presently operating in the global market for hemophilia drugs are Grifols SA, Bioverativ Inc., FERRING LÄKEMEDEL AB, Aptevo Therapeutics, Hoffmann-La Roche Ltd, Novo Nordisk, Pfizer, Inc. and CSL Behring. In 2018, companies such as Novo Nordisk, Takeda Pharmaceutical Company Ltd., and F. Hoffmann-La Roche Ltd covered more than half of the share in the global hemodialysis market as per revenue. In 2017, Pfizer, Inc. collaborated with Sangamo Therapeutics, Inc. to commercialize and develop gene therapy programs. The aim was to utilize these programs for Hemophilia A drugs.
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