TheGlobal Hemophilia Marketaccounted for USD 12.1 Billion in 2021.
The Global Hemophilia Market is mainly driven by, increasing demand for recombinant and plasma-derived factor VIII and factor IX. These are proteins, used in the treatment of hemophilia. Additionally, increasing focus on prophylactic treatment, as well as increasing consumer healthcare expenditure along with the rising popularity of gene therapy is further propelling the market growth over the forecast period. In addition, factors such as increasing investment in R&D and increasing approval of drugs for treat of hemophilia are further fueling the market growth.
According to the Centers for Disease Control and Prevention (CDC), in the United States, around 30,000 and 33,000 males are living with hemophilia. The study estimates that, around 12 cases per 100,000 U.S. males for hemophilia A and 3.7 cases per 100,000 U.S. males for hemophilia B. Moreover, according to the estimates, among all births in the U.S., 1 birth per 5,617 male births is for hemophilia A, whereas; 1 birth per 19,283 male births for hemophilia B. Thus, as a result, the demand for hemophilia treatment further propelled the market growth over the forecast period.
Moreover, several governments, as well as major players, are investing their money heavily in Research and Developments (R&D) activities especially on identifying therapeutic agents. For instance, in July 2021- BioMarin Pharmaceutical Inc. announced that the European Medicines Agency (EMA) validated the Company's Marketing Authorization Application (MAA) for its investigational gene therapy, valoctocogene roxaparvovec, for adults with severe hemophilia A. thus, increasing initiatives along with investments is anticipated to propel the market growth over the forecast period.
Additionally, increased diagnosis rate and rise in the use of prophylactic treatment for hemophilia are further projected to boost the Hemophilia Market growth over the forecast period. However, the high cost of products, along with stringent government regulations may act as restrain and hamper the market growth.
North Americaheld prominent market share for Hemophilia Market. The market growth is attributed to the presence of major players in the region. Also, increasing government initiatives and support in the region is further likely to propel market growth.
Some of the key players in theHemophilia Marketinclude -Shire (Baxalta); CSL Behring; Pfizer, Inc.; Bayer AG; BioMarin, Spark Therapeutics, Inc.; Genzyme Corporation; Chugai Pharmaceutical Co. Ltd.; Novo Nordisk A/S.; and Octapharma AG.