Hemophilia Treatment Drugs Market Development, Market Trend, Segmentation and Forecast to 2026April 9, 2021
Some of the prominent players operating in the global hemophilia treatment drugs market are Pfizer, Inc., Kedrion, Shire Plc., CSL Behring, Novo Nordisk A/S, F. Hoffmann-La Roche Ltd., Bayer AG, and Sanofi, finds Transparncy Market Reseach(TMR).
These players are adopting several strategies such as mergers and acquisitions, business expansions and collaborations in order to fortify their market positions. On January 8, 2019, Takeda Pharmaceutical Company Limited acquired Shire plc, prominent players in the hemophilia treatment drugs market. This accusation has made Takeda Pharmaceutical Company Limited a value based R&D-driven biopharmaceutical leader in Japan.
According to TMR, the global hemophilia treatment drugs market was noted at a valuation of US$ 10,000.0mn in 2017. Owing to increasing FDA approval to new patents, the market is expected to rise at a CAGR of 5.0% from 2018 to 2026.
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Favorable Governmental Polices to Drive Market
The global hemophila treatment market is expected to expand at a significant pace during the forecast period. This is mainly because of the rising demand for effective treatment of hemophila. Owing to this, regulatory authorities are spending a hefty amount for the development of advanced drugs for the treatment of these disorders. This, in turn, is expected to boost growth during the forecast period.
Furthermore, surge in campaigns by non profitable organizations and supportive governmental initiatives to spread awareness among the patients to undertake early screening of neonates. This is another strong factor which is expected to propel hemophilia treatment drugs market.
Hemophilia is a rare genetic bleeding disorder estimated to have affected about 440,000 people globally as of 2018. The federation also mentions that about 75.0% of these individuals are either undiagnosed or receive inappropriate treatment. These figures are alarming and clearly depict need for many more awareness program by the private and public authorities.
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High Costs of Treatment to Hamper Prospects
On the flipside, high costs of the hemophilia treatment drugs is one factor expected to impede growth in the global hemophilla treatment drugs market.
One noteworthy tread prevailing treatment drugs market is initiative taken by agencies such as the Hemophilia Association of America to cut down cost of diseases. This is expected to neutralize offer new possibilities to growth of the hemophilla market. For instance, CSL Behring, a players in the healthcare industry allocated1.5 million to its antihemophilic unit on the occasion of World Hemophilia Day (April 17).
Further, increase in number of patent by the FDA for the efficient treatment of the hemophilla is expected to offer several opportunities in the hemophilla treatment drugs market. Several new and existing players are launching drugs based on this patient to offer effective treating hemophilia. This is another factor expected to propel the hemophilla treatment drugs market in the coming years.