Global Hemophilia Treatment Drugs Market: Overview
The global hemophilia treatment drugs market is presently catering to various sub-types of hemophilia such as hemophilia A, hemophilia B and others such as acquired hemophilia and hemophilia C. The increasing awareness of this disorder and the introduction of innovative ways of managing this disease has opened up several opportunities for the global market in recent years. According to the research report, the global hemophilia treatment drugs market was valued at US$15.8 bn in 2015 and is expected to reach US$25.1 bn in 2024, as the market is projected to progress at a CAGR of 5.4%.
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The global market is also estimated to benefit from the several blockbuster drugs in the existing portfolio. Presently, these drugs are contributing to the major share of the revenue of the market. The introduction of new drugs and FDA approvals for clinical trials to launch blockbuster treatments is expected to drive this market in the coming years. The commercial availability of promising drugs is anticipated to change the way hemophilia is managed and treated for many patients during the forecast period.
Recombinant Coagulation Factor Concentrates Lead Global Market due to Low Risk of Blood-borne Infections
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On the basis of product, the global market is segmented into recombinant coagulation factor concentrates, desmopressin, plasma derived coagulation factor concentrates, and antifibrinolytic agents. Out of these products, the recombinant coagulation factor concentrates are expected to dominate the global market in the coming years. The growing preference of medical practitioners for these therapies due to low risk of blood borne infections is anticipated to drive this segment. In 2015, the recombinant coagulation factor concentrates segment held a share of 46.6% in the global market in terms of revenue. This segment is further divided into factor VIII, factor IX and combination drugs.
North America to Show Sustained Demand as Awareness about Disease Continues to Grow
In terms of geography, the global hemophilia treatment drugs market is categorized into Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. Out of these regions, North America has been leading the global market for a few decades and is expected to continue its stance in the coming years due to well-established healthcare infrastructure. Furthermore, the growing awareness about the disease in the region is also expected to boost sales of products in the coming years. Currently, the U.S. is leading the hemophilia drugs market in North America.
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On the other hand, Europe is anticipated to lose its share as several top-selling drug brands are experiencing patent cliff. Presently, the U.K is leading the Europe market. Asia Pacific is also anticipated to offer several lucrative opportunities to the overall market due to an exponentially growing demand for unmet medical needs. The rising per capita income, improving healthcare facilities, growing awareness about the disorder, and emerging economies of Asia Pacific have lent a significant impetus to the overall market. Additionally, increasing focus on treating bleeding disorders across Asia Pacific and Latin America are also expected give the overall market a remarkable boost in the coming few years.
Some of the key players operating in the global hemophilia treatment drugs market are Shire Plc, Biogen, Pfizer Inc., Novo Nordisk A/S, CSL Behring, F. Hoffmann-La Roche Ltd., Bayer AG, Biotest AG, Kedrion Biopharma Inc., and Octapharma AG. The competitive landscape of the global market can be described as a consolidated one with top ten players holding a mammoth share in the overall market in terms of revenue. Over the coming years, these companies are expected to show a keen interest in expanding their geographical reach and widening their presence in various parts of the world.
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