According to the latest report by IMARC Group “Hemophilia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global hemophilia market reached a value of US$ 10.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 20.1 Billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027.
Hemophilia is a genetic medical disorder that affects the blood clotting process. It is caused due to a hereditary lack of a coagulation factor, which slows down the blood clotting process. It is associated with regular nosebleeds, easy bruising, hematomas, and prolonged bleeding and oozing after an injury, surgery, and dental procedures. It also results in continuous bleeding that can occur after minor trauma and even in the absence of injury. Hemophilia can be treated using medications, replacement therapy, and injections of a clotting factor and plasma, which aids in focusing on replacing missing proteins and preventing further complications.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
At present, the increasing prevalence of genetic abnormalities among individuals and the expanding number of hemophilia patients are among the major factors bolstering the market growth around the world. The rising instances of genetic disorders, such as muscular dystrophy and cystic fibrosis, in children and young adults are also contributing to the market growth. Besides this, the growing aging population, which is more prone to develop infectious diseases on account of inappropriate gene activity, is currently influencing the market positively. The rising popularity of prophylactic treatment to cure hemophilia is also propelling the growth of the market. In addition, governments of numerous countries are initiating campaigns to spread awareness about the benefits of early diagnosis and undertaking initiatives to enable the early screening of neonates. They are also financing research and development (R&D) activities to identify therapeutic agents, which is creating a positive outlook for the market.
Apart from this, leading players are introducing technologically advanced diagnostic tools and therapies to improve the efficacy and accuracy of hemophilia treatment. These players are also promoting the usage of generic drugs, which is fueling the market growth. In line with this, the increasing funding for the establishment of specialized hemophilia treatment centers (HTC) is providing a thrust to the market growth. Furthermore, international organizations are helping to discover treatments for inheritable bleeding disorders and preventing complications through education, research, and advocacy, which is offering lucrative growth opportunities to key players operating in the industry. Additionally, there is a rise in the adoption of health insurance policies that provide financial assistance for hemophilia treatment and minimize healthcare expenses, which is strengthening the growth of the market. Besides this, significant improvements in the healthcare infrastructure and diagnostic technologies are anticipated to provide a favorable outlook to the market in the coming years.
Breakup by Type:
- Hemophilia A
- Hemophilia B
- Hemophilia C
- Others
Breakup by Treatment:
- On-Demand
- Prophylaxis
Breakup by Therapy:
- Replacement Therapy
- ITI Therapy
- Gene Therapy
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Baxter International Inc.
- Bayer AG
- BioMarin Pharmaceutical Inc.
- CSL Behring (CSL Limited)
- F. Hoffmann-La Roche AG
- Grifols S.A.
- Kedrion S.p.A.
- Novo Nordisk A/S
- Octapharma AG
- Pfizer Inc.
- Sanofi S.A.
- Takeda Pharmaceutical Company Limited.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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