The global hemophilia market is quite consolidated with about ten players holding a significant share. Of these, Shire Plc., Novo Nordisk A/S, and Pfizer Inc. held lion’s share of 48.8% in the overall market in 2015. Strategic acquisitions to enhance the product portfolio and improve the research and development base has been the key strategy of these players to remain dominant.
According to the research report, the global hemophilia treatment drugs market is expected to be worth US$25.1 bn in 2024 as compared to US$15.8 bn in 2015. During the forecast period of 2016 and 2024, the overall market is expected to progress at a CAGR of 5.4%.
Browse Global Strategic Business Report:
North America Moves Forward with Well-established Healthcare Infrastructure
The various products available in the global hemophilia treatment drugs market are recombinant coagulation factor concentrates, plasma derived coagulation factor concentrates, desmopressin, and antifibrinolytic agents. Of these, the recombinant coagulation factor concentrates are poised to lead the global market as the segment estimated to acquire a share of 46.9% by the end of 2024. The growing preference for recombinant factor therapies due to the low risk of blood-related infections is expected to fuel the growth of this segment.
Geographically, this market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of these, North America is likely to dominate the global market in the coming years due to the well-established healthcare infrastructure and the rising disposable incomes. The growing awareness amongst citizens about the various treatments available to treat diseases is also likely to boost the growth of the overall market. The report suggests that the North America hemophilia treatment drugs market is expected to lead the global market with a share of 40.6% by the end of 2024.
Investments in Developing Breakthrough Products to Augment Demand for Drugs
“The global hemophilia treatment drugs market is on the cusp of a major revolution as a large number of new drugs are expected to create a wave of change,” states the lead author of this research report. These drugs come with a promise of long-lasting clotting factors. For instance, “emicizumab” being developed by Roche has shown possibility of prophylactic efficiency in people who suffer from severe Hemophilia A. The growing focus on prophylaxis treatment to manage bleeding episodes by regularly infusing clotting factor concentrates is expected to propel the overall market. Demand for this type of treatment is expected to spike as the regular infusion of clotting factors can transform severe hemophilia to moderate hemophilia over time.
The market is also thriving due to the increasing investments in developing breakthrough products. For instance, in July 2016, Pfizer and Spark Therapeutics received FDA approval for “SPK-9001”, a drug that is being tested for being a one-time therapy for treating Hemophilia B. Furthermore, incentives by the FDA for orphan drugs such as tax credits, market exclusivity, and grants are expected to propel the market in the positive direction in the coming years as well.
Low Rate of Diagnosis Restrains Sale of Drugs
The biggest challenge in the global hemophilia treatment drugs market is the low rate of diagnosis amongst patients. Though genetic testing is available for this disease, several patients remain unaware of it due to lack of awareness, especially in the remote regions of the world. The market is also being restrained due to the high cost of drugs and even costlier rate of therapy to treat the disease.
This review is based on Transparency Market Research’s report, titled “Hemophilia Treatment Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024.”
The global hemophilia treatment drugs market is segmented as follows:
Global Hemophilia Treatment Drugs Market Revenue, by Product type
Recombinant coagulation factor concentrates
Plasma derived coagulation factor concentrates
Global Hemophilia Treatment Drugs Market Revenue, by Disease indication
Global Hemophilia Treatment Drugs Market Revenue, by Distribution Channel
Global Hemophilia Treatment Drugs Market Revenue, by Geography
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East and Africa
Rest of Middle East & Africa
Download Exclusive Sample of This Report :
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact