The hemophilia treatment market size was valued at $12.8 billion in 2021, and is estimated to reach $26.9 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.
Hemophilia is a bleeding disorder that slows the blood clotting process. People with this condition experience prolonged bleeding or oozing following an injury, surgery, or having a tooth pulled. In severe cases of hemophilia, continuous bleeding occurs after minor trauma or even when there is no obvious injury. Serious complications in the joints, muscles, brain, or other internal organs can result from bleeding. Milder forms of hemophilia do not necessarily involve spontaneous bleeding, and the condition may not become apparent until abnormal bleeding occurs following surgery or a serious injury. The primary treatment for severe hemophilia involves replacing the clotting factor needed through a tube in a vein.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/301
Hemophilia treatment market trends like increase in the prevalence of hemophilia, technological advancements in the treatment of hemophilia, and favorable government initiatives for hemophilia management is expected to drive the market growth. In addition, increase in target population, increased diagnosis rate, and rise in the use of prophylactic treatment for hemophilia boost the market growth. However, high cost of hemophilia treatment, lack of medicines of hemophilia, and serious adverse effects associated with plasma derived products are expected to restrict the market growth. Moreover, rise in the awareness about hemophilia in developing countries provides lucrative opportunities for the growth of the hemophilia treatment market.
Coronavirus (COVID-19) was discovered in late December 2019 in Hubei province of Wuhan city in China. The situation of COVID-19 has varied outcome when related to vaccinations. There is an emerging gap in the economic recovery between high-income and low and middle income countries. After the pandemic severely disrupted global trade, the world is witnessing a robust rebound, which helped with the recovery in 2021. Trade contributes to speeding up economic recovery from the pandemic by providing sustained foreign demand for exports and ensuring the availability of imported intermediate products and services. Amidst the initial outbreak of COVID-19, the outlook for the hemophilia treatment industry was negatively impacted by the COVID-19 pandemic. It was thought that hemophilia patients were more prone to COVID-19, which made them more precautious and subjected to avoid the hospitals visits in early 2020. This led to decrease in the use of hemophilia medicines. Moreover, the supply chain of the medicines was also disturbed, which led to increase in demand and supply gap. In addition, manufacturers were also made to slow down the manufacturing procedure due to the limitations on the numbers of workers allowed. However, the situation of reduced usage of hemophilia medicines is observed to be changing in the 2021 and is expected to totally increase the supply and demand in the near future post pandemic. Overall, the COVID-19 pandemic had a negative impact on the hemophilia treatment market size owing to the various stringent government restrictions for reducing hospital visits. The manufacturers were also hit by the pandemic effect with decrease in demand for hemophilia medicines.
𝗚𝗲𝘁 𝗗𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/hemophilia-treatment-market
The hemophilia treatment market is segmented on the basis of type, drug therapy, and region. According to type, the market is divided into hemophilia A and hemophilia B. On the basis of drug therapy, the market is bifurcated into recombinant coagulation factor concentrates therapy, plasma derived coagulation factor concentrates therapy, non-factor replacement therapy, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the hemophilia treatment market is categorized as hemophilia A and hemophilia B. The hemophilia A segment was dominant in 2021 and is expected to remain dominant during the forecast period, owing to the rise in incidence of hemophilia A and increased use of factor VIII. Hemophilia A is also projected to exhibit the fastest market growth during the forecast period, owing to technological advancements in treatment of hemophilia and product approval by regulating authorities.
On the basis of drug therapy, the recombinant coagulation factor concentrates therapy segment was dominant in 2021 and is expected to remain dominant during the forecast period, owing to increase in the number of recombinant technology products available for the treatment. Moreover, non-factor replacement therapy is projected to exhibit the fastest growth during hemophilia treatment market forecast period, owing to increase in target population and rise in R&D activities on the treatment therapies.
Europe was the highest revenue contributor in the 2021 and is expected to continue the same during the forecast period. This was attributed to the research activities for hemophilia treatment, which are soaring in Europe, owing to the well-established healthcare facilities, recent technological advancements, and rise in demand for early diagnosis of hemophilia due to increase in awareness regarding the disease. Asia-Pacific is projected to register the highest CAGR of 8.3% during the forecast period to the hemophilia treatment market share, owing to increase in incidence of population suffering from hemophilia. In addition, increase in healthcare expenditure offers a lucrative opportunity for the hemophilia treatment industry growth.