Hemophilia market is expected to witness a CAGR of 5.9% during the forecast period. Certain factors that are driving the market growth include growing prevalence of hemophilia, favorable government initiatives, and rising R&D and new product development.
Hemophilia, a genetic bleeding disorder that prevents the blood from clotting normally affects 1 in 5,000 male births. About 400 babies are born with hemophilia each year in the United States. According to the World Health Organization (WHO), owing to the sex-linkage of the disorder, there is a bigger prominence in males than in females. About 1/3rd of new diagnoses are where there is no earlier family history. It appears worldwide and is observed across all racial groups. About 6,000 people are suffering from haemophilia in the United Kingdom (as in 2018). There are approximately 5400 people in the UK with haemophilia A and about 1100 with haemophilia B. Hence the high prevalence of the disease is acting as one of the factors fueling the market growth all across the globe.
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Key Market Trends
Hemophilia A is Expected to Hold Significant Market Share in the Disease Type Segment
According to the National Hemophilia Foundation (NHF), the United States, the two major forms of hemophilia occur much more frequently in males than in females. Hemophilia A is the most prevalent type of condition with the incidence rate of 1 in 4,000 to 1 in 5,000 males worldwide who are born with this disorder. Whereas Hemophilia B occurs in approximately 1 in 20,000 newborn males all across the globe. The key medication to treat hemophilia A has concentrated FVIII product, also called clotting factor or simply factor. Recombinant factor products, that are developed in a laboratory through the use of DNA technology, impede the use of human-derived pools of donor-sourced plasma. And while plasma-derived FVIII products are still available, approximately 75% of the hemophilia-affected community takes a recombinant FVIII product (as per the NHF).
North America Dominates the Market and Expected to do Same in the Forecast Period
NHF (National Health Federation) is an organization that has been awarding grants and fellowships in order to support innovative research intended for finding better treatments and cures for several bleeding disorders. Such researches have led to vital insights into improved factor replacement therapies, along with more accurate hemophilia diagnostic methods and therefore definitely a greater understanding of the genetic basis of the disease. Through the efforts and guidance of NHF’s Medical and Scientific Advisory Council (MASAC), an internationally distinguished group of expert scientists, physicians as well as other treatment specialists, NHF has been engaged since long in advancing the standard of clinical care and issuing treatment recommendations for hemophilia. Moreover, NHF states that the number of people with hemophilia in the United States is estimated to be about 20,000 individuals in 2019. Hence, owing to the rising prevalence of the disease along with the growing initiatives by several organizations is driving the market growth in the region.
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