The global “hemophilia drugs market” is expected to gain from increasing cases of gene mutation. Fortune Business Insights recently published a report, titled “Hemophilia Drugs Market Size, Share and Global Trend By Disease Indication (Hemophilia A, B & C), Therapy Type (Recombinant Therapy, Plasma therapy & Others), Distribution Channels (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2025,” where is studies various factors enabling growth in the market. According to the report, in 2017 the global hemophilia drugs market was valued at US$ 9875.4 Mn. The global market is expected to progress at a CAGR of 6% and reach US$ 15,830 Mn by the end of 2025. The report offers a comprehensive overview of the global hemophilia market.
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As stated in the report, in 2017 North America emerged dominant in the global market. The regional market was valued at US$ 3684.7 Mn in 2017. North America is expected to dominate the market during the forecast period between 2018 and 2025 as well. The growth witnessed is attributable to rising prevalence of hemophilia A & B in nations such as Canada and U.S. Additionally, the key market players in North America are adopting strategies to gain higher share in the market. This in response is expected to increase the demand for hemophilia drug treatment in the region.
Europe also holds a significant share in the market and is expected to witness impressive growth over the forecast period. Rising awareness about rare disorders such as hemophilia is likely to contribute for Europe hemophilia market expansion. Besides this, Asia Pacific is anticipated to grow at a relatively higher CAGR. The growth witnessed is attributable to the approval of novel therapeutics for hemophilia A, by regulatory authorities of Japan and Australia. Additionally, developing nations such as China and India are receiving investments from public and private authorities to improve the healthcare services. This is anticipated to increase the growth rate in the market and fuel demand for hemophilia drugs treatment.
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Hemophilia A to Dominate Owing to its High Prevalence
In terms of disease indication, the hemophilia A segment was leading the global market. The segment accounted for 85% of the global market in 2017. The segment is anticipated to expand during the forecast period as well. The growth witnessed is attributable to increasing incidences of hemophilia A and high cost associated with hemophilia A treatment. Among the hemophilia types, A & B are most commonly found in patients. Additionally, in 2017 Humira received approval from regulatory authority to improve the treatment ability. This in response is likely to propel the growth rate in the market.
Increasing per capita income and rapid innovation in hemophilia drugs are some factors expected to drive the global market during the forecast period. On the flip side, low awareness about the hemophilia disorder and high cost of hemophilia drugs are a few factor anticipated to restrain the global market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
The current pandemic of Covid-19 has made a catastrophic impact on the world. Most businesses are shut as a result of the increasing COVID-19 cases. The healthcare industry is facing shortage of medical aid as there are not enough beds to suffice the needs of the increasing number of patients. The world economy is fluctuating as most businesses are at a halt and the ones running from the vicinity of their homes are barely able to manage revenue.
Special reports on various markets affected by the coronavirus pandemic are provided by Fortune Business Insights. These reports will help visualize the current situation and what strategies can be adopted to help the market gain momentum in the coming years.
Takeda Acquired Shire to Strengthen its Market Position
In 2017, Takeda Pharmaceutical Company Limited was leading the global market and is anticipated to lead the market during the forecast period as well. The growth witnessed is attributable to Takeda’s acquisition of Shire Plc. Owing to the acquisitions Takeda owns a diverse product portfolio and it will help the organization to gain a better market position. This is expected to enable growth in the global hemophilia drugs market. Some of the companies operating in the market are Pfizer Inc., CSL Limited, Grifols, S.A., Bioverativ Inc., Octapharma AG, FERRING LÄKEMEDEL AB, and Aptevo Therapeutics.