The global hemophilia market size is anticipated to value USD 18.1 billion until 2027. It is also expected to register a CAGR of 5.5% over the forecasted years, 2020 to 2027. Rising awareness about immediate diagnosis & treatment of diseases and favorable governing policies is projected to propel the market growth.
Hemophilia of type A is most commonly seen across the globe and is expected to be four times prevalent than type B. On the other hand, type B hemophilia is projected to witness the fastest growth over the forecasted period, 2020 to 2027 owing to the presence of powerful pipeline products.
Treatment Insights
The market across the globe can be segmented into on-demand and prophylaxis based on the treatment type. In 2019, the on-demand treatment segment accounted for the largest share across the global market. The prophylaxis segment is expected to register the highest CAGR from 2020 to 2027.
The prophylaxis treatment is an infusion of clotting factors concentrates that can be used for patients suffering from hemophilia. It is the most trusted treatment that is being accepted worldwide. Its salient features like reduction in the productivity loss that can guarantee good life outcomes are anticipated to trigger market growth in the upcoming years.
Market Share Insights
The key players operating in the global market are CSL Behring, Bayer AG, Pfizer, Inc., Shire (Baxalta), Novo Nordisk A/S., Octapharma AG, Genzyme Corporation, and Spark Therapeutics, Inc. Continuous innovation and product development is undertaken by these players to gain a cutting edge over other competitive players.
Strategies such as acquisitions, mergers, and regional expansions are also being carried out by these players to widen their geographical reach. For example, Sanofi had bought Bioverativ in 2018 at USD 11.6 Billion for strengthening the market presence across the portfolio of rare diseases.
Request free sample to get a complete analysis of the market players @ https://www.millioninsights.com/industry-reports/global-hemophilia-market/request-sample
Regional Insights
North America accounted for the highest share of around 44.4% across the global market in 2019. Shifting inclination towards the prophylaxis medical treatment prevailing among individuals residing across this region is expected to contribute majorly towards the market growth.
The Asia Pacific is projected to register the highest CAGR over the forecasted years, 2020 to 2027. An increase in per capita usage of therapies for catering to factors VIII & IX deficiencies is expected to contribute majorly towards market growth across this region. Moreover, the increasing popularity of these products across countries like India, Malaysia, Japan, and Indonesia is projected to trigger market growth.
COVID-19 Impact Insights
The hemophilia market has been positively impacted due to the ongoing COVID-19 pandemic. The need for the development of early diagnostic tools with the help of DNA bases is gaining traction for fighting against the novel virus. Further, as patients suffering from other diseases such as hemophilia are more prone to get adversely affected by the virus attacks, the need for the development of protective products and medicines is being foreseen by the key players. Moreover, governing bodies across several countries have increased their budget for the healthcare and pharma sector which is expected to trigger the market growth for hemophilia products over the post-pandemic period.
Browse Related Category Research Reports @ https://industryanalysisandnews.wordpress.com/
No comments:
Post a Comment