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(April 16, 2018)
The global hemophilia market valuation is anticipated to reach USD 15.2 billion by 2024, according to a report by Grand View Research, Inc. The market was valued at USD 9.86 billion in 2016 and expects to expand at around 5.6% CAGR from 2013 to 2024 (forecast period). According to a report by the World Federation of Hemophilia (WFH), only 30% to 40% individuals have undergone blood testing in 2013. Nearly 400,000 people were diagnosed with hemophilia in the same year. High probability of diagnostic procedures to discern blood-related disorders and appropriate measures for their treatment can drive market growth in near future.
Rising need for rapid diagnosis of hemophilia and government programs to assist in diagnosis are projected to augur the hemophilia market. Efforts by notable organizations such as the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and Healthy Newborn Network (HNN) can further boost the market. An upsurge in the neonatal populace can positively drive the market development during the forecast period.
Full Research Report On Hemophilia Market Analysis: https://www.grandviewresearch.com/industry-analysis/hemophilia-treatment-industry
Mandatory screening procedures for hemophilia in neonates can bode well for the market for hemophilia. In addition, an introduction of co-pay assistance programs made with the cooperation of industry players to alleviate financial costs of tests are other factors expected to influence the market in the forthcoming years. For instance, Grifols S.A., a European company, has announced the launch of “ALPHANATE Copay Program” and “AlphaNine SD Copay Card” for immediate enrolment of patients opting for prophylaxis treatment.
Availability of limited therapies and enormous pressure on regulatory agencies to offer treatment options for royal blood diseases can increase the R&D expenditure for these diseases. Performance and efficacy of existing treatments and initiatives to commercially adopt prophylaxis treatment can also bode well for the market during the forecast period.
The worldwide hemophilia market is segmented by type, treatment, therapy, and region. By type, the market is divided into hemophilia A, B, C, and others. The hemophilia B segment is expected to exhibit a 6% CAGR over the forecast period owing to the incidence of hemophilia B and emphasis on the development of pipeline drugs to treat the disease. The hemophilia A segment can experience limited growth in near future due to an array of drugs already present in the market in addition to its high prevalence around the world.
By treatment, the market is bifurcated into prophylaxis and on-demand. The on-demand segment is expected to dominate the market with more than 50% share by 2024. The prophylaxis segment, on the other hand, is touted to grow at a robust rate due to easy availability of financial assistance programs and high need for better bleeding control.
View More Reports Of This Category By Grand View Research At https://www.grandviewresearch.com/industry/pharmaceuticals
Based on therapy, the hemophilia market is fragmented into a replacement, gene, and immune tolerance induction therapies. The replacement therapy segment can enjoy a remarkable growth rate during the forecast period due to the launch of extended half-life versions of the existing drugs.
Regions covered in the market report include North America, Latin America (LATAM), Middle East & Africa (MEA), Asia-Pacific (APAC), and Europe. The North America market is expected to dominate over the forecast period on account of high prevalence of diseases and early adoption of prophylaxis treatment. In the 2013 survey conducted by the WFH, around 63% U.S. patients had adopted for prophylaxis. This high rate of adoption can continue driving the regional market in the forthcoming years.
The LATAM and APAC markets are anticipated to exhibit significant CAGRs respectively over the forecast period due to awareness regarding hemophilic diseases and rise in their prevalence. Availability of technologically advanced products, rise in R&D, and demand for plasma and recombinant derived products are also expected to bolster market growth over the forecast period.
Prominent players in the hemophilia market include Baxalta, Bayer Healthcare, F. Hoffmann-La Roche AG, Pfizer Inc., and Shire PLC. Developing additional products coupled with expansion plans in Middle Eastern and West African countries are strategies being considered by these players to increase their market share. Mergers, collaborations, and acquisitions are some of the strategies being considered by players to sustain their market hold. For instance, Biogen has partnered with the National Hemophilia Foundation (NHF), American Thrombosis and Hemostasis Network (ATHN), and Puget Sound Blood Center (PSBC) to launch a nation-wide program for free genetic testing of individuals and families ailing from blood-borne maladies.
Access Full Press Release Of This Report By Grand View Research: https://www.grandviewresearch.com/press-release/global-hemophilia-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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