Worldwide Hemophilia Market is valued USD 10.8 Billion in 2018 and is projected is to exhibit 4.8% CAGR during the forecast period. The market is driven by the rising number of hemophilia cases across the globe and growing genetic disorders.
Hemophilia is a rare disorder in which the blood doesn’t clot normally as it lacks sufficient blood-clotting proteins (clotting factors). Patients with hemophilia bleed for a longer time after an injury than a normal person.
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Growing diagnostic rates backed by rising neonatal population, increasing adoption of prophylaxis treatment, favorable government initiatives, and reimbursements across the globe can be the key factors attributing to the growth of Hemophilia Market in the coming years. However, high costs of treatment and low rates of adoption in developing nations are expected to restraint the market growth to a certain extent in the coming years.
Incessant approvals by regulatory bodies for commercial availability of hemophilia treatment and increasing R&D investments by key manufacturers to develop novel drugs are expected to offer significant growth opportunities in the coming years. Furthermore, awareness programs and initiatives by government, private and NGOs are anticipated to boost the market growth in the coming years.
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North America holds the major market share of the global Hemophilia Market due to focus of key market players on strengthening their presence in the US. These companies have been taking up various organic and inorganic growth strategies to enhance its presence in the US. Furthermore, increasing adoption rates for hemophilia treatment and growing awareness on prevention of hemophilia are expected to bolster the market growth during the forecast period.
The global Hemophilia Market is segmented into type, treatment, and region. On the basis of the type the market is further bifurcated into Hemophilia A, Hemophilia B, and Hemophilia C. The market based on treatment is segmented into replacement therapy, ITI therapy, and gene therapy. Based on the geography the market is further segregated into North America, Latin America, Middle East & Africa, Europe and Asia Pacific.
The players associated with the global Hemophilia Market include Biogen, Chagui Pharmaceutical, Novo Nordisk, Bayer Healthcare, Shire Plc, CSL Behring, Pfizer, Baxalta, and Octapharma.
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