Hemophilia refers to an inherited genetic blood disorder which affects the ability of the blood to clot due to the lack of a specific protein required for blood clotting. As per the analysis of Market Research Future (MRFR), the global hemophilia treatment market is likely to post a CAGR of 6.10% over the forecast period of 2018-2023. The global hemophilia treatment market was valued at USD 11,257.21 in 2017 and is due to reach a valuation of USD 16,059.17 by the end of 2023.
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The prevalence of hemophilia is found to be high across the globe, and it is in the backdrop of such high prevalence of hemophilia, the global hemophilia treatment market is expanding steadily. The World Federation of Hemophilia estimates the number of people suffering from hemophilia in the US to be close to 17,000.
An outlay of massive amounts by biotechnology companies and high government support for R&D activities has resulted in significant developments in recent years. Recombinant products have emerged as an alternative to plasma-derived products and consumers have demonstrated an increased inclination towards the use of recombinant products which can also be credited for the growth of the global hemophilia treatment market. Recombinant products, is derived from genetically engineered cells at are zero risks of contamination.
On the downside, the market growth might be deterred by the high costs associated with hemophilia treatment which restricts the growth of the market in cost-sensitive markets. Hemophilia treatment involves a variety of technologically high-end products which limits the patient pool opting for treatment.
The global hemophilia treatment market has been segmented based on type, treatment type, and end user.
By type, the global hemophilia treatment market has been segmented into hemophilia A, hemophilia B, and hemophilia C. The hemophilia A segment is the largest segment and is expected to reach a valuation of USD 12,697.99 at a CAGR of 6.23% by the end of the forecast period.
By treatment type, the global hemophilia treatment market has been segmented into Plasma-derived coagulation factor concentrate, Recombinant coagulation factor concentrates, Desmopressin, Antifibrinolytic agents, and Gene Therapy. The recombinant coagulation factor concentrates segment is likely to expand at the highest CAGR of 7.01% over the forecast period.
By end user, the global hemophilia treatment market has been segmented into hospitals & clinics, research organizations, and others. The hospitals & clinics segment accounted for the largest share of USD 7594.66 in 2017 and is also anticipated to showcase the fastest growth over the forecast period.
Geographically, the global hemophilia treatment market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas account for the lion’s share of the global hemophilia treatment market and is likely to maintain its lead over the forecast period. The growth of the Americas market can be attributed to the high occurrence of the disorder in the region coupled with growing expenditure on the healthcare sector. The presence of an established healthcare sector and towering support for R&D activities acts as a plus for the market growth.
Europe holds the second largest share of the global hemophilia treatment market and exhibits similar growth pattern as that of the Americas. The Europe hemophilia treatment market is driven by high government support for research and development to develop advanced medical therapies.
APAC is poised to showcase the highest growth rate of 8.38% over the forecast period. Prolific improvement in the healthcare sector coupled with high demand for advanced treatment options stimulates the growth of the APAC hemophilia treatment market. The presence of a large patient pool is also a co0ntributing factor.
The key players in the global hemophilia treatment market include F.Hoffmann-La Roche Ltd, Bayer AG, Baxter, Pfizer Inc, Sanofi, Novo Nordisk A/S, Shire, Kedrion, CSL Behring, Octapharma, Swedish Orphan Biovitrum AB, and Grifols International S.A.
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