The Global Hemophilia Treatment Market is anticipated to exhibit a CAGR of 6.9% over the forecast period. Hemophilia is a complex disorder. According to the World Federation of Hemophilia, 75% of people with bleeding disorders receive very inadequate treatment or no treatment at all.
The growing demand for hemophilia treatment is projected to be powered by a rising prevalence of bleeding disorders and increasing intensity of genetic evolution globally. Agencies such as the Hemophilia Association of America typically give patients ongoing care by implementing multiple co-pay programs.
Over the projected timeframe, increasing government investment in healthcare, favorable reimbursement policies, and efforts to promote awareness will drive the growth of the industry. Education and diagnostic services are undertaken by organizations like the International Hemophilia Organization in collaboration with governments in many countries. In the near future, government efforts to promote public health and treat underprivileged patients will fuel the development of the market.
High costs of hemophilia drugs, however, will be one of the key factors in impeding the development of the global hemophilia treatment market. The high cost of products is attributed to high spending on R&D, processing, and selling of drugs by suppliers. High retail prices of hemophilia drugs make them unaffordable for families in the middle and lower income groups. This may limit the growth of the market to some extent.
Global Hemophilia Treatment Market, By Type
Based on type, the global hemophilia treatment market has been segmented into hemophilia A, hemophilia B, and hemophilia C. Type A is commonly found to be the most prevalent type of hemophilia and has been stated to be four times more common than type B hemophilia.
Type A frequency ranges for various countries are 5.4-14.5 cases per 100,000 males, according to the statistics reported in WebMD LLC in 2019. Approximately 60 percent of patients with extreme hemophilia A are associated with severe signs of bleeding. The bulk of the available drugs are mainly used in the treatment of type A hemophilia. This has resulted in the growth of the hemophilia A segment.
Global Hemophilia Treatment Market, By Treatment
The hemophilia treatment market is segmented into prophylaxis and on-demand treatment depending on the treatment type. In 2019, the on-demand segment had the largest market share. However, the prophylaxis segment is expected to be the fastest-growing segment over the projected timeframe. Prophylaxis is the treatment used for patients with severe hemophilia.
Global Hemophilia Treatment Market, By Therapy
Based on therapy, the market segmentation includes gene therapy and replacement therapy. In 2019, replacement therapy is projected to hold the largest share over the predicted timeframe. Replacement therapy is the standard therapy used in care, aiming to restore the lost clotting factor in hemophilia patients. Gene therapy is predicted to register impressive growth in the coming years and become the fastest-growing segment during the forecast period.
Global Hemophilia Treatment Market, By Regions
The North American hemophilia treatment market is dominated by the U.S. Hemophilia affects about 1 in 5,000 persons in the U.S. and about 400 newborns are diagnosed with hemophilia each year, according to the Hemophilia Federation of America. In addition, the presence of favorable reimbursement and insurance in the country will contribute to a rise in hemophilia prescription drugs demand and acceptance rate, thereby boosting the country's hemophilia treatment market growth.
India's demand for hemophilia care is expected to rise over the estimated period. Different government programs have helped create the requisite facilities, encouraging healthcare providers and patients to self-administer medication at home. This has helped improve the quality of life of hemophilia patients. Over the projected period, technological developments, increased recognition among individuals, new product launches, and government policies will also accelerate the growth of this market.
Key Developments in the Global Hemophilia Treatment Market
Some Key Findings of the Global Hemophilia Treatment Market Report Include:
Detailed scope covering all the major segments in the market
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Market recommendations supporting decision making processes
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