Hemophilia Market Size Worth $16.9 Billion By 2026

| By | Global market, Hemophilia
0
64

The global hemophilia market is expected to reach USD 16.9 billion by 2026 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. 

CDC’s National Center on Birth Defects and Developmental Disabilities (NCBDDD) undertakes initiatives to improving the public understanding of blood disorders and associated complications. For instance, NCBDDD supported the ‘The Red Tie Challenge’ initiated by the National Hemophilia Foundation (NHF) in order to spread awareness about blessing disorders such as Von Willebrand disease, hemophilia and other rare bleeding disorders. Such initiatives are anticipated to boost the market growth 

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 2015, including NigeriaTogoMaliZambiaMauritania, 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. 

Further key findings from the report suggest: 
• Hemophilia B is expected to be the fastest growing hemophilia type over the forecast period, at a CAGR of 5.8%. 
• The other segment, owing to spurt in the number of patients diagnosed with von Willebrand Disease (VWD), is also anticipated to witness lucrative growth over the forecast period. 
• On-demand treatment dominated the segment over the forecast period and is expected to contribute more than 50.0% by 2026. 
• 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. 
• 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.

SOURCE: prnewswire.com
SHARE
GMP news
Pharmaceutical industry News and events. Technology transfer and contract manufacturing of medicines.