Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Hemophilia Treatment market.
Trusted Business Insights presents an updated and Latest Study on Hemophilia Treatment Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Hemophilia Treatment market during the forecast period (2020-2029). It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Abstract, Snapshot, Market Analysis & Market Definition: Hemophilia Treatment Market Industry / Sector Trends
Hemophilia Treatment Market size was valued USD 10.5 billion in 2018 and is expected to witness 5.0% CAGR from 2019 to 2025.
U.S. hemophilia treatment market, by disease, 2018 & 2025 (USD Million)
Growing prevalence of hemophilia across the globe will be one of the major market augmenting factors over the forthcoming years. As per the recent statistics published by Centers for Disease Control and Prevention (CDC), hemophilia A affects around 1 in 5,000 live male births in the U.S. Majority of the people with hemophilia are diagnosed at a young age. According to the CDC data, average age of hemophilia diagnosis in the U.S. is 36 months for mild hemophilia, 8 months for moderate hemophilia and 1 month for severe hemophilia. Hence, rise in number of people suffering from hemophilia will enhance the hemophilia treatment market growth in the near future.
Rise in several government initiatives will augment the industry growth over the projection period. Organization including the World Hemophilia Organization along with governments of several countries carry out awareness and diagnosis programs. Government efforts to enhance public health and treat underprivileged people will result in boosting the hemophilia treatment market growth in the near future.
However, high cost of hemophilia medications will be one the major growth impeding factors. High investment, R&D, manufacturing and marketing of drugs by manufacturers is the reason for high cost of the products. High cost of products are unaffordable for the middle and lower income class families, thus resulting in restraining the business growth.
Market Segmentation, Outlook & Regional Insights: Hemophilia Treatment Market
Hemophilia Treatment Market, By Disease
Germany hemophilia treatment market share, by disease, 2018
Hemophilia A treatment market was valued at USD 6,743.7 million in the year 2018. Hemophilia A is a common blood disorder and the prevalence rate is high in developing and underdeveloped regions. As per the recent statistics, around 19,000 people in India suffer from hemophilia and only 15% of the patients are registered. Increase in number of people suffering from hemophilia A and rise in awareness among the people regarding the treatment and medications of hemophilia will result in rise in demand and adoption rate of hemophilia drugs, fueling the business growth.
Hemophilia B treatment market is estimated to grow at 4.0% over the estimation period. As per a recent research article, the prevalence of hemophilia B is quite rare as compared to hemophilia A and the incidence of hemophilia B is around 1 in 30,000 in the U.S. Recent technological advancements has led to growing medications for hemophilia B treatment, hence resulting in boosting the segmental growth.
Hemophilia Treatment Market, By Product
Recombinant factor concentrates market was valued at USD 6,626.9 million in the year 2018. Rise in production of recombinant factor concentrates has provided growth opportunity to treat hemophilia and overcome limited availability of plasma-derived concentrates. Also, increased safety of replacement therapy with the help of recombinant factor concentrates has dramatically enhanced the quality of patient life. Increase in preference of recombinant factor concentrates in treatment of hemophilia will ultimately lead to augmenting the business growth over the forecast period.
Extended half-life products market is estimated to witness a robust growth of 5.3% over the forecast period. Recent research and development has led to the production of new factor concentrates that are efficient and need less frequent injections. The reason for fewer injections are due to the increased half-life of the product. Hence, recent technological advancements and new product launches will lead to increase in demand and adoption rate of extended half-life products, thereby fueling the business growth.
Hemophilia Treatment Market, By Patient
Hemophilia treatment in adults was valued at USD 6,778.1 million in the year 2018. As per a recent research article, around 65% of the people suffering from hemophilia are adults. In some of the adults mild hemophilia is diagnosed in the later stages of life. As the age of patients increases, the need for hemophilia care also increases. There are various possibilities of developing moderate to severe hemophilia in adults. Hence, growing age results in rise in chances of developing hemophilia in adults, thereby boosting the demand for hemophilia treatment in the near future.
Hemophilia treatment in pediatrics is projected to grow at 5.2% over the estimation period. Hemophilia is inherited diseases that are passed to children from gene located on X-chromosome. In approximately one third of children, no family history of hemophilia is found, and the disease occurs due to gene mutation. Children with hemophilia gene bruise easily, bleed more with surgeries and have frequent nose bleedings. According to the National Center for Biotechnology Information, severe form of factor deficiencies including hepatitis A and hepatitis B were diagnosed in the neonates with 52% and 68% of cases respectively. Hence, increase in prevalence of hemophilia in children will augment the hemophilia treatment market growth in the near future.
Hemophilia Treatment Market, By Treatment
Prophylaxis treatment market was valued at USD 7,219.9 million in the year 2018. Long-term prophylaxis treatment is considered as standard of care to prevent chronic arthropathy and joint bleeding in patients with severe hemophilia. As per a recent research, it was observed that the prophylaxis treatment for hemophilia was quite effective and slowed the progression of joint damage. Majority of patients and healthcare providers opt for prophylaxis treatment owing to its efficiency and better end results. Hence, increase in preference of prophylaxis treatment will further augment the business growth in the near future.
On demand treatment market is estimated to grow at 5.2% over the forthcoming years. People suffering from mild to moderate hemophilia are treated with on demand treatment to prevent bleeding. Children with severe hemophilia initially receive prophylactic therapy to prevent bleeding; however, after reaching adulthood, they switch to on-demand treatment for several reasons, such as strict work schedules, inconvenience of visiting doctors or going to a clinic several times a week, along with high expenditure related to continuous prophylactic therapy. Hence, the aforementioned reasons will be responsible for the market growth of on demand treatment segment.
Hemophilia Treatment Market, By Therapy
Factor replacement therapy market was valued at USD 9,574.2 million in the year 2018. As per the Medical and Scientific Advisory Council (MASAC) of National Hemophilia Foundation (NHF), the use of recombinant factor concentrates in children is quite effective as the recombinant factor does not contain actual human blood and cannot transmit harmful viruses including hepatitis. Hence, the use of factor replacement therapy is quite common due to direct infusion of clotting factors, resulting in boosting the segmental growth.
Non-factor replacement therapy is projected to show rapid growth of 38.3% over the estimation period. One of the challenging problems in the treatment of hemophilia is the development of alloantibodies against the infused factor concentrates. Development of inhibitors render the factor replacement therapy ineffective, leading to high risk of morbidity and mortality in patients. Also, there is growing interest in non-factor replacement therapy agents that act by inhibiting anticoagulant pathways or enhancing coagulation. Hence, introduction of new therapeutic agents in hemophilia treatment will enhance the business growth.
Hemophilia Treatment Market, By Drug Class
Coagulation factors market was valued at USD 9,948.3 million in the year 2018. Hemophilia is considered as hereditary blood disease with coagulation time. The use of coagulation factors is quite common and is used mostly in the replacement therapy. Absence or improper functioning of several clotting factors in the blood such as factors VIII, XI, etc. result in causing hemophilia. Hence, use of several clotting factors to replace the absent blood clotting factors will lead to boosting the hemophilia treatment market growth.
Vasopressin drug class market is estimated to grow at 6.0% in the near future. Patients suffering from mild hemophilia use vasopressin drugs for joint and muscle bleeds, bleeding in mucous membranes of nose and mouth and pre and post-surgery. Vasopressin drugs comes in injectable and nasal spray form and is comparatively easy to use. Hence, the aforementioned factors will be responsible for the market growth of vasopressin drug class.
Hemophilia Treatment Market, By Route of Administration
Injectable route of administration for hemophilia treatment was valued at USD 9,629.3 million in the year 2018. Majority of the drugs and factor concentrate products are intravenously given to patients for better and quick results. Intravenous route of administration helps the medications to directly interact with the blood. Hence, majority of healthcare providers opt for injectable or intravenous route of drug administration to treat hemophilia for better and quick results, hence boosting the market growth.
Nasal spray or intra nasal route of administration will grow at 6.0% over the forecast period. Drugs including vasopressin are required to be taken by patients for joint and muscle bleeds, and bleeding in mucous membranes of nose and mouth. Several advantages offered by nasal spray such as ease of use and user convenience will result in growing demand, thereby fueling the business growth.
Hemophilia Treatment Market, By End-use
Hemophilia treatment centers as end-use was valued at USD 4,134.6 million in the year 2018. A substantial proportion of hemophilia treatment is carried out in such centers. During the forecast period, the hemophilia treatment center end-use market segment will continue to lead, owing to rising number of special care provided and peoples increased preference for these centers over other healthcare settings.
Clinics as end-use is estimated to grow at 5.3% in the near future. Clinics provide fast-track treatment and infusion of factor concentrates to patients. Also, immediate and short-time treatment provided during the daytime to people with busy and hectic work schedule will enhance business growth in the near future.
Hemophilia treatment Market, By Region
Europe hemophilia treatment market, by country, 2025 (USD Million)
U.S. dominated the North America hemophilia treatment market and was valued at USD 3,539.3 million in the year 2018. As per the Hemophilia Federation of America, hemophilia A affects around 1 in 5,000 people in the U.S. and approximately 400 new-borns are diagnosed with hemophilia every year. Also, presence of favorable reimbursement and insurance in the country will result in growing demand and adoption rate of hemophilia medications, expanding the hemophilia treatment market growth in the country.
India hemophilia treatment market is projected to grow at 9.2% over the estimation period. Various government initiatives has helped in building necessary infrastructure, empower healthcare providers and patients to self-administer treatment at home, hence helping patients achieve a better quality of life. Recent technological advancements, rise in awareness among people, new product launches and government initiatives will augment the business growth over the forecast period.
Key Players, Recent Developments & Sector Viewpoints: Hemophilia Treatment Market
Major industry players involved in the hemophilia treatment market include Swedish Orphan Biovitrum AB, Sanofi SA, Pfizer, Novo Nordisk, Genentech, CSL Behring, Biogen, among other market players. These players have implemented several strategic initiatives such as collaborations, merger and acquisitions, new product launches and partnerships that have enhanced their financial stability, helped them evolve as major industrial players and gain strong market position.
Hemophilia Treatment Industry Viewpoint
Hemophilia has been an extremely old and critical disease that the global population has been facing. People in ancient times have written and articulated about bleeding problems. Some of the bleeding problems identified have been different as compared to others. But little they knew about blood clots and the disease caused by their deficiency. Until before World War II, doctors learned about hemophilia A and its cause due to deficiency of factor VIII. Several other blood factors were recognized later on and Roman numeral names were given to avoid confusion. Hemophilia research has come a long way with scientists discovering human blood in different groups, hence helping blood transfusions to be more successful. In 1960s, Dr. Judith Pool discovered a procedure to freeze and thaw plasma to get a layer of factor-rich plasma called as cryoprecipitate. Use of cryoprecipitate was the best way of stopping hemophilia bleeding. Later on, the greatest breakthrough that came in hemophilia treatment was the development and introduction of factor concentrates. These clotting factors can be freeze-dried to a powder that can be easily stored and consumed. With the help of these factor concentrates, people suffering from hemophilia can be treated quickly with maximum efficiency. Also, factor concentrates have helped people treat their bleedings at home or at work, resulting in people to lead normal lives. Also, development and introduction of new medications and technologies such as non-factor replacement therapy, extended half-life products, gene therapy, etc. will augment the growth of hemophilia treatment market growth in the near future.
Key Insights Covered: Exhaustive Hemophilia Treatment Market
1. Market size (sales, revenue and growth rate) of Hemophilia Treatment industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Hemophilia Treatment industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Hemophilia Treatment industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Hemophilia Treatment industry.
Research Methodology: Hemophilia Treatment Market
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