Hemophilia Market is registering a CAGR of 5.11% during the forecast period 2020 to 2026
Hemophilia is rare health condition where the blood is unable to clot after cuts, mutations and others. Increasing necessity of public suffering from hemophilia on the targeted audience to implement prophylaxis treatment and other government initiatives are acting as hemophilia market drivers.
Hemophilia drug manufacturers and government organizations are focusing on campaigns to create awareness about the Hemophilia condition among the general population. Every year the WFH conducts global surveys which aim to collect demographic information in order to provide hemophilia treatment across healthcare centers and dispensaries.
The emergence of key therapies such as replacement therapy, gene therapy, and immune tolerance induction therapy provide strong market opportunities to various key players in the industry. Among this gene therapy, is widely used for the treatment of hemophilia due with advantages over identification of defective DNA bases.
The factors such as stringent regulations, R&D investments and limited resources are leading towards the high cost of hemophilia products and services. In addition, the high costs of hemophilia products are unaffordable by low and middle income class families across the emerging countries.
Various initiatives implemented by government is projecting market growth
Increase in initiatives for hemophilia awareness is a key factor driving the global next generation hemophilia therapies market. Some of the government agencies and authorities such as National Center on Birth Defects and Developmental Disabilities (NCBDDD) undertake many initiative programs to create public awareness regarding blood disorders and associated complications. Further, in July 2019 The International Society on Thrombosis and Hemostasis (ISTH) launched global education initiative in gene therapy for hemophilia.
Types of hemophilia and their impact on market growth
Among hemophilia A, hemophilia B, and hemophilia C, Hemophilia A is a common blood disorder with strong prevalence observed across both the developed and emerging nations.
Globally, incidence of hemophilia is estimated to be more than 400, 000 people and according to National Hemophilia Foundation, Hemophilia A occurs in 1 in 5,000 live male. Among, these third fourth of people with hemophilia world-wide receive inadequate treatment and in some areas they don’t even have access to hemophilia treatment.
To cater the unmet need of hemophilia treatment, key vendors are pipelining novel drugs and treatments for hemophilia.
Prevalence of hemophilia projects market growth across North America
Prevalence of hemophilia is high in North America region coupled with rising incidence towards the prophylaxis treatment. In the United States, the prevalence of hemophilia is estimated to be more than 20,000 people. As such to cater therapeutic treatment for hemophilia, WHF launched research work across McMaster University, North Carolina State University, Aix-Marseille University, and the University of Sheffield to conduct a meta-analysis of data and improve health care and quality of life for hemophilia patients.
The presence of intense R&D works along with clinical trials by key vendors for the treatment of hemophilia with emerging key therapies such as gene therapy is estimated to accelerate in upcoming years.
Key players of hemophilia industry are engaging in introduction of new drugs and products
The key players in the hemophilia market are launching innovative products and formulating new drugs to combat the problems of neutralizing antibodies evident by present repetitive hemophilia medication.
Hemophilia drug manufacturers are entering into collaborative research works with other players to develop treatment products such as bispecific antibodies, next generation recombinant factors, and gene therapies. For instance, in 2018, Pfizer Inc. and Spark Therapeutics announced initiation of Phase 3 open-label, multi-center to evaluate the investigational gene therapy for the treatment of hemophilia B.
Introduction of minimally invasive hemophilia therapeutic procedures is observed as a key strategy among market players. For instance, in September 2019, Sigilon Therapeutics received Orphan Drug Designation (ODD) for SIG-001 an effective, durable therapy for hemophilia A.
The major companies operating in global hemophilia market are Novo Nordisk, Biogen., Chugai Pharmaceutical, Bayer Healthcare, Pfizer., Shire Plc, Baxalta (Baxter Healthcare), CSL Behring., Octapharma., and Sanofi SA.