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The global hemophilia market size was USD 11.1 Billion in 2022 and is expected to reach USD 17.3 Billion by 2032

NEW YORK, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The hemophilia market is projected to grow from USD 11.1 Billion in 2022 to USD 17.3 Billion by 2032 at a CAGR of 4.9%. Market growth is driven by factors such as an increase in the prevalence of hemophilia, advancements in technology, and rising awareness about the disease and prophylactic treatment. Hemophilia is a genetic condition caused by a lack of clotting factors resulting in prolonged bleeding and bruising. The prevalence of hemophilia is increasing due to factors such as a rising elderly population, genetic mutations, and trauma, surgery, and injury. Prophylaxis is a preventive therapy that helps to reduce the frequency and severity of bleeding episodes in hemophilia patients. Increasing awareness about the benefits of prophylactic treatment is driving market growth. Governments, patient organizations, and medical professionals are promoting the need for early detection and treatment of hemophilia. Technological advancements, such as the development of clotting factor products with prolonged half-lives, have improved therapeutic effectiveness and reduced the number of infusions required by patients. However, the high cost of care and inadequate healthcare infrastructure and professionals could restrain market revenue growth.

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Segments Covered in the Report

The global hemophilia market size is expected to reach USD 17.3 Billion by 2032, with a rapid revenue CAGR of 4.9% during the forecast period. The market size value in 2022 was USD 11.1 Billion, and the report offers historical data and forecasts revenue growth at a global, regional, and country level, providing analysis of market trends in each segment and sub-segment from 2019 to 2032.

The report segments the global hemophilia market based on type, treatment, end-use, and region. The market is segmented by type outlook into hemophilia A, hemophilia B, and others. By treatment outlook, the market is segmented into replacement therapy, hemostatic agents, desmopressin, gene therapy, and others. By end-use outlook, the market is segmented into hospitals, clinics, home care settings, and others. The regional scope includes North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Rising prevalence of hemophilia, technological developments, and increasing awareness about the illness and need for prophylactic treatment are major factors driving market revenue growth. Hemophilia is a hereditary condition caused by lack of clotting factors resulting in protracted bleeding and bruising. The World Federation of Hemophilia estimates that approximately 1 in 10,000 persons worldwide is suffering from hemophilia. The rising elderly population, genetic mutations, and additional variables such as trauma, surgery, and injury contribute to the increasing prevalence of hemophilia.

Prophylactic medications are in increasing demand, as they help lower the frequency and severity of bleeding episodes. Governments, patient organizations, and medical professionals promote the necessity for early detection and treatment of hemophilia, leading to a rising need for diagnostic tests, including blood and genetic tests.

Technological developments in hemophilia therapy are expected to drive market revenue growth. The creation of clotting factor products with prolonged half-lives has improved therapeutic effectiveness and decreased the number of infusions patients need. However, the high cost of care and inadequate healthcare infrastructure and lack of competent healthcare professionals in developing nations may restrain market revenue growth.

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Strategic development:

The FDA approval of Hemlibra, a new product from Shire (now Takeda Pharmaceutical Company Limited), was announced in 2018 for the treatment of Hemophilia A. The product was designed to help prevent bleeding in Hemophilia A patients, particularly those with factor VIII inhibitors. Bioverativ (now Sanofi Genzyme) launched Alprolix, a Hemophilia B treatment with an extended half-life in 2017, providing patients with longer protection against bleeding episodes. Bayer AG received FDA approval for Jivi, a Hemophilia A treatment for both on-demand and prophylactic use in 2017. Jivi was developed with Bayer's proprietary PEGylation technology, which extends the half-life of the factor VIII molecule. Novo Nordisk A/S launched Novoeight, a recombinant factor VIII treatment with an improved efficacy and longer half-life, in the United States in 2016.

In 2016, Pfizer, Inc. acquired Bamboo Therapeutics, a biotechnology company that focuses on developing gene therapies for rare diseases like Hemophilia, which expanded Pfizer's portfolio of Hemophilia treatments to include gene therapy products. Bristol-Myers Squibb Company announced the acquisition of MyoKardia, a biopharmaceutical company specializing in treatments for cardiovascular diseases in 2020 to expand their innovative Hemophilia treatment pipeline. Sangamo Therapeutics, Inc. announced a collaboration with Pfizer, Inc. in 2019 to develop gene therapies for Hemophilia A, leveraging Sangamo's proprietary zinc finger nuclease technology to develop potential cures for Hemophilia A.

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Spark Therapeutics (now Roche) received FDA approval for Luxturna, a gene therapy product for a rare form of inherited blindness in 2018. The company is also currently in clinical trials for developing gene therapies for Hemophilia A and B. Grifols, S.A. acquired Hologic's share in their joint venture, Grifols-Hologic, Inc., in 2016, which specializes in developing diagnostic tools for Hemophilia to expand its diagnostic capabilities for Hemophilia. In 2021, Octapharma AG announced FDA approval for its drug, Wilate, for the treatment of Hemophilia A. Wilate is a high-purity, double virus-inactivated, von Willebrand Factor/Coagulation Factor VIII complex concentrate, produced using Octapharma's proprietary manufacturing process.

Competitive Landscape:

Hemophilia is a rare genetic disorder that affects the body's ability to form blood clots, leading to prolonged bleeding and potential complications. The global Hemophilia market is characterized by a consolidated competitive landscape, with a few key players holding a significant portion of the market share. These players, including Shire (now Takeda Pharmaceutical Company Limited), Bioverativ (now Sanofi Genzyme), Bayer AG, Novo Nordisk A/S, Pfizer, Inc., Bristol-Myers Squibb Company, Sangamo Therapeutics, Inc., Spark Therapeutics (now Roche), Grifols, S.A., and Octapharma AG, are heavily invested in research and development to introduce innovative and effective products into the market.

In recent years, there has been a surge in the development of new Hemophilia treatments, including gene therapies, replacement therapies, and hemostatic agents, all of which aim to improve the quality of life of Hemophilia patients. Key players are leveraging their expertise and technological capabilities to introduce new products and expand their market presence. For instance, Shire's Hemlibra received FDA approval in 2018 for the treatment of Hemophilia A, while Bayer's Jivi was also approved for prophylactic and on-demand treatment of Hemophilia A. Additionally, Pfizer's acquisition of Bamboo Therapeutics in 2016 expanded its portfolio of Hemophilia treatments to include gene therapy products.

Overall, the Hemophilia market is expected to grow significantly in the coming years, with a CAGR of 4.9% from 2022 to 2032. Factors such as an increasing prevalence of Hemophilia and a rise in demand for innovative treatments are expected to drive the market growth.

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