Hemophilia Market To Reach $15.2 Billion By 2024: Grand View Research, Inc.
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
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