Global hemophilia market is expected to reach USD 15.2 billion by 2024, according to a new report by Grand View Research, Inc. Increasing need for diagnosis of the target population in order to initiate prophylaxis treatment and supportive government programs is expected to be the vital impact rendering driver.
The market players are predicted to adopt strategies such as pipeline product development and geographic expansion in underdeveloped and developing regions, such as Middle Eastern and West African countries.
As of 2015, federal bodies such as the World Federation Hemophilia have vast information and treatment regulation in about 172 countries, of which 20 were added in 2013,including Nigeria, Togo, Mali, Zambia, Mauritania, and others.
Competitive pricing strategy is a vital factor promoting market players’ growth over the forecast period. For instance, Biogen launched Eloctate in 2014 in the U.S. at a lower price than the existing vastly used drug Advate.
Browse full research report on Hemophilia Market
Further key findings from the report suggest:
- Hemophilia B is expected to grow at a rapid rate of over 6.0% during the forecast period. Higher emphasis on pipeline products with an extended half-life and increasing incidence of hemophilia B affected patients are expected to be the prominent growth factors.
- On-demand treatment dominated the segment over the forecast period and is expected to contribute more than 50.0% by 2024. However, prophylaxis is expected to be the fastest growing segment because of the requirement for better control of bleeding episodes and growing financial assistance programs by healthcare providers and industry players.
- For instance, Grifols has launched the “AlphaNine SD Copay Card” and “ALPHANATE Copay Program” for immediate enrollment in prophylaxis treatment by patients.
- On the basis of therapy, gene therapy is expected to be the fastest growing segment as a result of increasing R&D and innovations in the field. Furthermore, replacement therapy is expected to witness lucrative growth due to the launch of extended half-life versions of currently available drugs.
- For instance, Novo Nordisk is working on N8-GP, CSL Behring is working on CSL689 rVIIa-FP, and Bayer is working on BAY 94-9027.These are expected to be commercially available around 2017/2018. This is expected to improve treatment over the forecast period thereby boosting growth.
- Major market players include Biogen, Novo Nordisk, Baxalta, Octapharma, CSL Behring, Pfizer, Inc., and Bayer Healthcare. Most of the companies are actively involved in the awareness and treatment programs launched by regional governments and hemophilia associations. Majority of their products that are awaiting FDA approval have extended therapeutic use in adults as well as children.
For more information: http://www.grandviewresearch.com