Rise in the prevalence of hemophilia, technological advancements in hemophilia treatment, and supportive government initiatives for hemophilia management drive the growth of the global hemophilia treatment market.
PORTLAND, Ore., July 6, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Hemophilia Treatment Market by Type (Hemophilia A, Hemophilia B), by Drug Therapy (Recombinant coagulation factor concentrates therapy, Plasma derived coagulation factor concentrates therapy, Non-factor replacement therapy, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global hemophilia treatment industry generated $12.8 billion in 2021, and is estimated to reach $26.9 billion by 2031, witnessing a CAGR of 7.5% from 2022 to 2031.
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Drivers, Restraints, and Opportunities
Rise in the prevalence of hemophilia, technological advancements in hemophilia treatment, and supportive government initiatives for hemophilia management drive the growth of the global hemophilia treatment market. However, high cost of hemophilia treatments and adverse effects associated with plasma-derived products restrain the market growth. On the other hand, increase in R&D activities regarding treatment therapies, rise in the usage of prophylactic treatment, and surge in rate of diagnosis create new opportunities for the market growth in the coming years.
- Owing to social distancing measures, possibility of cross contamination, and postponement of non-elective surgeries, the number of hemophilia treatments reduced considerably during the Covid-19 pandemic. This led to a negative impact on the global hemophilia treatment market.
- Manufacturers also suffered huge losses during the pandemic, due to decline in demand for hemophilia medicines for treatments. However, the market is expected to recover post-pandemic.
The hemophilia A segment to maintain its lead status throughout the forecast period
Based on type, the hemophilia A segment accounted for the highest market share in 2021, contributing to more than four-fifths of the global hemophilia treatment market, and is estimated to maintain its lead status throughout the forecast period. Moreover, this segment is expected to manifest the fastest CAGR of 7.6% from 2022 to 2031. This is attributed to increase in incidence of hemophilia A, rise in use of factor VIII, and product approvals by the regulating authorities. The report also analyzes the hemophilia B segment.
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The recombinant coagulation factor concentrates therapy segment to maintain its leadership status by 2031
Based on drug therapy, the recombinant coagulation factor concentrates therapy segment held the highest share in 2021, accounting for more than two-fifths of the global hemophilia treatment market, and is projected to maintain its leadership status by 2031. This is due to rise in the number of recombinant technology products available for the treatment. However, the non-factor replacement therapy segment is projected to witness the highest CAGR of 8.6% from 2022 to 2031, owing to increase in target population and rise in R&D activities for the treatment therapies.
Europe to continue its lead position by 2031
Based on region, Europe contributed to the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global hemophilia treatment market, and is projected to continue its lead position by 2031. This is attributed to the well-established healthcare facilities, technological advancements, and surge in demand for early diagnosis of hemophilia. However, Asia-Pacific is estimated to witness the largest CAGR of 8.3% during the forecast period. This is due to surge in incidence of population suffering from hemophilia and rise in healthcare expenditure.
Leading Market Players
- Bayer AG
- CSL Ltd. (CSL Behring)
- F. Hoffmann-La Roche AG
- Grifols, S.A
- Medexus Pharmaceuticals Inc.
- Novo Nordisk A/S
- Octapharma AG
- Pfizer Inc.
- Swedish Orphan Biovitrum AB
- Takeda Pharmaceuticals Company Ltd.
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