The global hemophilia market size is anticipated to value USD 18.1 billion until 2027. It is also expected to register a CAGR of 5.5% over the forecasted years, 2020 to 2027. Rising awareness about immediate diagnosis & treatment of diseases and favorable governing policies is projected to propel the market growth.
Hemophilia of type A is most commonly seen across the globe and is expected to be four times prevalent than type B. On the other hand, type B hemophilia is projected to witness the fastest growth over the forecasted period, 2020 to 2027 owing to the presence of powerful pipeline products.
In 2019, the on-demand treatment segment dominated the global market. The segment of prophylaxis is projected to witness the fastest growth in the upcoming years across the global market on account of its salient features like reduction in the productivity loss that can guarantee good life outcomes.
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North America accounted for the highest share of around 44.4% across the global market in 2019 due to the rising inclination towards the prophylaxis medical treatment among the millennial population residing in this region. The Asia Pacific is expected to witness the fastest growth in the upcoming years owing to the surge in per capita usage of therapies for catering to factors VIII & IX deficiencies prevailing among citizens of countries like China, Japan, and India.
Acquisitions, mergers and regional expansions are generally undertaken by these players for widening their product portfolio and global reach.
Further key findings from the report suggest:
• In 2019, the on-demand treatment segment dominated the global market.
• The replacement therapy segment accounted for the fastest growth across the global market from 2020 to 2027.
• North America accounted for the highest share of around 44.4% across the global market in 2019.
COVID-19 Impact Insights
The hemophilia market has been positively impacted due to the ongoing COVID-19 pandemic. The need for the development of early diagnostic tools with the help of DNA bases is gaining traction for fighting against the novel virus. Further, as patients suffering from other diseases such as hemophilia are more prone to get adversely affected by the virus attacks, the need for the development of protective products and medicines is being foreseen by the key players. Moreover, governing bodies across several countries have increased their budget on the healthcare and pharma sector which is expected to trigger the market growth for hemophilia products over the post-pandemic period.
Global Hemophilia Products Market : Key Players
Octapharma AG, Pfizer Inc., CSL Behring, Novo Nordisk A/S., Bayer AG, Spark Therapeutics Inc., and Genzyme Corporation.
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