SEATTLE, May 24, 2021, (MEDGADGET) — Middle East and Turkey Hemophilia Treatment Market Analysis
Desmopressin, antifibrinolytic agents, recombinant coagulation factor, and plasma-derived coagulation factor are used to treat hemophilia. Due to the favorable effects, most hemophilia patients choose factor replacement therapy as their main care. The recombinant coagulation factor segment in the Middle East and Turkey hemophilia treatment market is expected to expand as approvals and releases of recombinant coagulation factor increase. The Saudi Food and Drug Authority (SFDA) in the Kingdom of Saudi Arabia approved Swedish Orphan Biovitrum AB’s Coagulation Factor IX (Recombinant) for the treatment of hemophilia B in October 2017.
The Middle East and Turkey hemophilia treatment market is projected to reach US$ 645.1 million in 2019, with a CAGR of 4.2 percent over the forecast period (2019-2027).
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Over the forecast period, the approval and introduction of such novel products in the market are expected to fuel the growth of the Middle East and Turkey hemophilia treatment market.
During the forecast period, increasing product approvals by key players are projected to augment growth of the Middle East and Turkey hemophilia treatment market. Jivi, a new hemophilia A therapy medication with a versatile dosing regimen, was approved by the US Food and Drug Administration in August 2018. It is used to treat bleeding in adults and youth (12 years and older) who have had hemophilia A therapy previously. Furthermore, the Ministry of Food and Drug Safety approved Adynovate, a long-lasting factor VIII gene recombinant for hemophilia A cure, in February 2018, Shire Plc., the local affiliate of the multinational biotech pharmaceutical Shire.
Moreover, leading players are focusing on growth initiatives such as acquisitions, which is projected to fuel growth of the Middle East and Turkey hemophilia treatment market over the forecast period. Chatham Therapeutics, LLC, a privately owned drug research-stage biotechnology firm focused on the development of new gene therapy-mediated hemophilia drugs, was purchased by Baxter International Inc. in April 2014. Baxter bought Chatham’s developmental gene therapy technology to help with hemophilia drug production and commercialization.
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Restraints
The high cost of hemophilia therapy is a significant factor that is projected to stifle growth of the Middle East and Turkey hemophilia treatment market over the projected period. Hemophilia is linked to high total expenses and places a significant financial strain on individuals and healthcare services in developing countries. Hemophilia is a debilitating illness that necessitates prolonged care, with costs differing depending on the seriousness of the disease, symptoms, and treatment schedule. Hemophilia therapy, for example, is costly, according to a cohort study undertaken by the National Center for Biotechnology Information (NCBI) in 2015. This is particularly true for patients with serious hemophilia. In all forms of hemophilia, extreme hemophilia is linked to higher annual costs, according to the report. According to a survey published by the National Center for Biotechnology Information in 2015, the annual cost of treating hemophilia A is about US$ 84,766.9 and hemophilia B is around US$ 122,877. Patients that take factor VIII inhibitors have prices that are 3.3 times more than those that do not. Therefore, the growth of the Middle East and Turkey hemophilia treatment market is projected to be hampered by the high cost of therapy over the forecast period.
Regional Analysis
Turkey is projected to experience substantial growth in the Middle East and Turkey hemophilia treatment market over the forecast period, owing to the availability of hemophilia medications and a growing patient population. ADYNOVATE is an antihemophilic recombinant factor developed by Baxalta Incorporated for Hemophilia A patients over the age of 12. It is accessible in Turkey as well as 66 other countries around the world.
Furthermore, over the forecast period, increasing funding from industry players and government organizations in providing citizens with access to hemophilia drugs is expected to accelerate market growth in Egypt. Octapharma AG donated 30.5 million units of Nuwiq, a human cell-line derived recombinant factor VIII product, to Project SHARE in November 2017 for the treatment of hemophilia A patients in developing economies such as Egypt, Bangladesh, Ethiopia, Cambodia, Myanmar, Fiji, Nepal, Kenya, and others.
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Competitive Landscape
Major companies contributing in the Middle East and Turkey hemophilia treatment market are Baxter International Inc., Bayer AG, Octapharma AG, Ferring B.V., Sanofi S.A., Novo Nordisk A/S, Sangamo Therapeutics, Inc., Takeda Pharmaceutical Company Limited, Spark Therapeutics, Inc., Grifols S.A., Kedrion, Pfizer, Inc., Swedish Orphan Biovitrum AB, CSL Behring, and Biogen Inc.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Disease Indication
- Market Snippet, By Country
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Technology Advancements
- Historical Overview
- Merger and Acquisition
- Regulatory Scenario
- PORTER’S Five Forces
- PEST Analysis
- Market Dynamics
- Middle East and Turkey Hemophilia Treatment Market, By Product Type, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Recombinant Coagulation Factor
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Plasma Derived Coagulation Factor
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Antifibrinolytic Agents
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Desmopressin
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Middle East and Turkey Hemophilia Treatment Market, By Disease Indication, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Hemophilia A
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Hemophilia B
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Hemophilia C
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Million)
- Introduction
- Middle East and Turkey Hemophilia Treatment Market, By Country, 2016 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, By Country, 2018 and 2027 (%)
- Y-o-Y Growth Analysis, By Country, 2016 – 2027
- Regional Trends
- Turkey
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- Egypt
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- Israel
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- Saudi Arabia
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- UAE
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- Rest of Middle East
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Million)
- Market Size and Forecast, By Disease Indication, 2016 – 2027, (US$ Million)
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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