07 November 2019
Visiongain has launched a new pharma report “Rare Hemophilia Factors Market Report 2020-2030” Prospects by Type (Factor I, Factor II, Factor V, Factor VII, Factor X, Factor XI, Factor XIII), Treatment (Factor Concentrates, Fresh Frozen Plasma, Cryoprecipitate, Other Treatment Types) and Geography.
Global Rare Hemophilia Factors market is projected to grow on account of rising adoption of prophylaxis treatment, favorable government initiatives and mandates, and Recent approvals of factor concentrates by regulatory bodies among others. The global market is projected to grow at a lucrative CAGR of ~5% from 2020 to 2030 and anticipated to surpass USD 250 Million by 2020.
Hemophilia is a rare genetic disorder caused by an inability to produce a clot that can stop bleeding. Hemophilia-free patients who develop clotting factor VIII or factor IX inhibitors are diagnosed with hemophilia A or B, respectively. The condition associated with the impairment of blood coagulation is von Willebrand disease, caused by a deficiency in the factor of von Willebrand. Although the disease of von Willebrand is more prevalent than hemophilia and is comparatively less serious
Government initiatives and mandates have also increased awareness of unusual hemophilia coagulation disorders among physicians and clinicians, thus reviving this condition's diagnosis and treatment rates. Thus, it is likely to increase market growth over the forecast period. Also, the United States enacted the Orphan Drug Act (ODA) in 1983. About 3,647 drugs have been classified as orphan drugs from 1983 to 2015 and 554 drugs have been licensed by the United States FDA. These orphan drug approvals resulted in better therapeutic options to patients with unusual conditions such as severe hemophilia disorders and are anticipated to address the unmet needs of the patients over the forecast period.
However, efforts by the International Rare Disease Research Consortium (IRDiRC) in Europe to create 200 new therapies for these diseases by 2020 and to provide support for studies and research & development activities are projected to foster growth in the market for these hemophilia causes. Furthermore, actions taken by patient advocacy groups, academic institutions, other non-profit organizations, and pharmaceutical companies are also fueling in countries like China. For example, the Chinese Rare Disorders Organization (CORD) and organizations like Haemophilia Home of China are actively engaged in launching pilot projects to raise awareness, diagnosis, and treatment options for rare disorders across China.
In 2018, the F-VII deficiency segment held the largest market share. The segment is expected to retain its position, and is anticipated to grow with the highest CAGR over the forecast period owing to the availability of treatment options including recombinant factor VIIa (rFVIIa).
North America dominated the global market in the year 2018. Also, government initiatives to raise the diagnosis rate and reduce the treatment-related costs, research efforts to enhance the management of rare hemophilia conditions, and a strong presence of major players are anticipated to boost growth in North America. For instance, the U.S.-based National Organization of Rare Disorders (NORD) provides multiple research grants to study rare diseases. In recent years, FDA approvals for some concentrate coagulation factors have helped the regional market gain traction.
The Asia Pacific is expected to experience the highest growth over the forecast period due to population growth and increased incidence of autosomal recessive disorders due to consanguineous marriages in countries such as China, Pakistan, and India.
Some of the major players operating in this industry are Baxalta (Baxter Healthcare), Bayer Healthcare, Bio Products Laboratory Ltd., Biogen, CSL Behring, Novo Nordisk, Pfizer, Inc., and Shire, other prominent players.
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As lockdowns were imposed in all the countries, diagnosis rates went down in majority of countries during the year hitting the drug sales for some period. Although lockdown measures have been eased up in most countries by mid-year 2020, this trend is expected to continue beyond 2020, stock up of medicines by patients is likely to propel the drug sales in majority of the developed economies, which account for majority of rare diseases.
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