Hemophilia Market Size Share Analysis 2022-2029

Hemophilia Market Size Share Analysis 2022-2029

Hemophilia Market is expected to grow at a high CAGR of 5.5% during the forecasting period (2022-2029).

2020-12-08

Increasing prevalence of bleeding disorders and growing severity with the genetic evolution globally is anticipated to drive overall market growth. Agencies like the Hemophilia Association of America generally offer continuous treatment for patients by introducing different co-pay initiatives.

Based on the data published by the WFH (World Federation of Hemophilia), hemophilia is more recorded among males and approximately 1 in 5,000 neonates suffer from type A. This is a rare genetic bleeding disorder projected to have affected around 440,000 people worldwide in 2018.

In addition, around 50-60% of patients suffering from severe hemophilia A, are associated with severe bleeding manifestations. Moreover, the majority of products available are used in the treatment of type A hemophilia.

This is further expected to balance the expenditures for patients and assist them in providing access to new products. For instance, “MyAccess Cost-Share Program” was started by CSL Behring for U.S. patients providing treatment costs up to USD 12,000.

Moreover, Children with hemophilia gene, bleed more with surgeries and have frequent nose bleedings. Patients suffering from mild hemophilia use vasopressin drugs for joint and muscle bleeds, bleeding in mucous membranes of nose and mouth and pre and post-surgery. 

Long-term prophylaxis treatment is considered as standard of care to prevent chronic arthropathy and joint bleeding in patients with severe hemophilia. This factor is driving the growth of the market in the forecast period.

Gene therapy and increasing approval of drugs for the treatment of hemophilia are poised to create opportunities for the global hemophilia market. For instance, in June 2017, the U.S. FDA accepted the investigational new drug application for Sanofi's BIVV001 based on its preclinical study results.

In addition, the rise in production of recombinant factor concentrates has provided growth opportunity to treat hemophilia and overcome limited availability of plasma-derived concentrates which will be helping in the treatment of type B. For instance, type B constitutes approximately 20% of hemophilia cases globally, out of which 50% of them have factor IX levels greater than 1%.

Furthermore, the rising need of hemophilia medicines in order to cater to the crucial medicinal requirement to limit blood loss is one of the prime growth factor for the global hemophilia market. 

About 400 babies are born with hemophilia each year in the United States. According to the World Health Organization (WHO), there is a bigger prominence in males than in females. About 1/3rd of new diagnoses are where there is no earlier family history. It appears worldwide and is observed across all racial groups. 

Several key players have started investing hugely to carry out R&D activities owing to the limited therapeutic options available for the treatment. Moreover, an increasing number of awareness campaigns and initiative plans undertaken by governing authorities for early screening of neonates are anticipated to trigger a lucrative opportunity of the hemophilia market in the forecast period. Thus, rising awareness of early diagnostics and growing supportive government policies is expected to boost the market growth during the forecast period.

Due to COVID-19 pandemic, the medical infrastructure has shifted quickly towards managing COVID-19 patients, resulting in less emphasis on non-covid patients such as Hemophilia patients. The low disease awareness amongst patients and lack of accessibility to specialists are critical factors that make the Haemophilia patients furthermore vulnerable.

Patients with Hemophilia are having a tough time accessing treatment as they are also in constant fear of contracting the coronavirus, being part of the vulnerable category. Though the factors required for the treatment are available at hospitals but due to the whole coronavirus situation, the patients fear going to the hospitals for their treatment. The critical need for early diagnosis, access to treatment, and physiotherapy is crucial for people with Hemophilia to lead a near-normal life. The quality of care and treatment of Haemophilia in India has seen significant progress over the last few years. Under the present pandemic circumstances, the number of Hemophilia patients visiting hospital has reduced a bit, though.

With growing adoption of telemedicine such as videoconferencing, audiovisual link, remote patient-monitoring tools, has made possible in COVID-19 crisis. Its application in the hospital routine will allow patients to address healthcare issues quickly and offers medical staff a continuous flow of real-time patient’s health data2. Thus, the healthcare situation caused by COVID-19 has accelerated the rapid implementation of these services, even for the management of this disease. Telemedicine is a good strategy for monitoring patients who, following the recommendations of the World Federation of Haemophilia, should not attend hospitals. However, the major disadvantage of telemedicine is the inability to conduct a direct physical examination.

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Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866

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