Global Hemophilia Market to Reach $18.88 Billion by 2028: The Brainy Insights

NEWARK, N.J., March 9, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global hemophilia market is expected to grow from USD 9.91 billion in 2020 to USD 18.88 billion by 2028, at a CAGR of 7.72% during the forecast period 2021-2028.

The growing prevalence of hemophilia across the globe, increase in R&D, and new product developments are the factors fuelling the haemophilia market.

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Haemophilia is a hereditary genetic disorder that weakens the body's ability to make clots. The person suffering from haemophilia is at risk of bleeding for a longer time after an injury, cut, easy bruising, and an increased danger of bleeding inside joints or the brain. The two main types of haemophilia are haemophilia A and haemophilia B. The first happens because of low amounts of clotting factor VIII, whereas the latter arises due to low levels of clotting factor IX. The other types include haemophilia C which occurs due to low levels of factor XI, and parahaemophilia due to low levels of factor V. Acquired haemophilia is related with cancers, autoimmune disorders, and pregnancy. Diagnosis is made by testing the blood for its capability to clot and its levels of clotting factors. Haemophilia, a genetic bleeding disorder that stops the blood from clotting, typically affects 1 in 5,000 male births. As per the World Federation of Hemophilia, 184,723 people were affected with Hemophilia in 2016, together with 39,495 people with other bleeding disorders.

The high cost associated with haemophilia treatment is the restraining force. The treatment of hemophilia is connected with staggering direct costs like hospitalization, drug treatments and high indirect costs like diminished work productivity and absenteeism from work or school. Drugs are also very expensive. Medications to treat haemophilia may have an average cost of more than USD 270,000 annually per patient. In further complications, that yearly price tag can soar above USD 1 million, thus, acting as a restraint for the haemophilia market.

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Key players operating in the global hemophilia market include Baxalta, CSL Behring, Pfizer, Inc., Bayer Healthcare, BioMarin Pharmaceutical, Inc., Biogen, Chugai Pharmaceutical Co., Novo Nordisk, Shire Plc., Baxter International, Inc., and Hospira, Inc., among others. To improve their market position in the global hemophilia market, the key players are now concentrating on adopting strategies that include product innovations, mergers & acquisitions, recent developments.

• For instance, in June 2016, Shire Plc had acquired Baxalta to further expand the company's existing product portfolio.
• For instance, in March 2016, Baxalta filed an application for marketing authorization of Adynovi (Adynovate in the U.S.) with the EMA, which was under the regulatory evaluation in Switzerland.

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The haemophilia A segment is dominating the market with the highest market value of USD 6.07 Billion in 2020.

Disease type segments include haemophilia A, haemophilia B, and others. The haemophilia A segment held the highest market value of USD 6.07 Billion in 2020. Type A is more widespread than type B. However, over the forecast period, the sector is expected to witness the fastest growth for type B-based medication, as shown by the rise in the number of people diagnosed with type B and the increasing efforts to tackle it.

The replacement therapy segment is dominating the market with the highest market value of USD 7.56 Billion in 2020.

The therapy segment includes replacement therapy, gene therapy, and others. The replacement therapy segment accounted for the highest market value of USD 7.56 Billion in 2020. Recombinant factor replacement therapy was the first-line treatment for moderate to severe haemophilia patients. Increasing R&D investments and new drug launch in replacement therapy is estimated to drive the segment's growth. Gene therapy is focused on identifying the defective DNA bases and then reinstating it with functional ones; this could provide good opportunities to present industry players over the forecast period.

The recombinant coagulation factor concentrates segment is dominating the market with a market share of around 57.53% in 2020.

The product type segment includes recombinant coagulation factor concentrates, plasma-derived coagulation factor concentrates, and others. The recombinant coagulation factor concentrates segment accounted for the largest market share of around 57.53% in 2020. The rise in the production of recombinant factors has provided growth opportunities to treat haemophilia and overcome the 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's life.

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Regional Segment Analysis of the Hemophilia Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American area held the largest market value of around USD 4.43 Billion in 2020. High prevalence and rising inclination toward prophylaxis treatment is predicted to be the preliminary drivers of this growth. According to the annual global survey of WFH, it's estimated that, about 64.0% of the patients in the U.S. have opted for prophylaxis treatment. However, Asia-Pacific is expected to witness the fastest growth over the forecast period. The rising infrastructure of healthcare in the region's emerging economies and increase in per capita income are some of the factors that will propel the APAC region in the forecasting period. Though the cost of treatment is expensive, with the rise in disposable income among people in developing economies of APAC like India and China, people ought to afford it in the forecasting period.

About the report:

The global hemophilia market is analysed based on value (USD Billion). All the segments have been analysed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key market insight. The study includes Porter's five forces model, attractiveness analysis, competitor position grid analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short period. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions meet the client's requirements, whether they are looking to expand or plan to launch a new product in the global market.

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