The global hemophilia treatment drugs market is on the verge of a major revolution as a gamut of new drugs are about to bring a sea of change for the treatment of various types of hemophilia.
The global hemophilia treatment drugs market is on the verge of a major revolution as a gamut of new drugs are about to bring a sea of change for the treatment of various types of hemophilia. The new drugs tend to serve long-lasting clotting needs. For example, “emicizumab” developed by Roche is likely to arouse preventive faculty in individuals suffering from severe Hemophilia A. The adoption of prophylaxis practices to manage bleeding episodes by administering declotting concentrates is likely to propel the overall market.
The hemophilia treatment drugs market is also benefitting from increasing investments for the development of breakthrough products. For example, Pfizer and Spark Therapeutics obtained FDA approval for a novel drug in July 2016. “SPK-9001, as the drug is named is being recognized for a one-time therapy for treating Hemophilia B. Further, incentives received by orphan drugs in the form of tax credits, grants, and market exclusivity are likely to fuel the hemophilia treatment drugs market in the forthcoming years. Due to several positive factors, the hemophilia treatment drugs market is predicted to display steady growth in the forthcoming years, reports a new market study by Transparency Market Research (TMR).
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Hemophilia Treatment Drugs Market: Segment Analysis
The various segments the hemophilia treatment drugs market is segmented based on product are recombinant coagulation factor concentrates, desmopressin, antifibrinolytic agents, and plasma derived coagulation factor concentrates. Of them, the segment of recombinant coagulation factor concentrates is likely to lead the market in the upcoming years. Recombinant coagulation factor concentrates are increasingly being preferred by medical practitioners as they carry low chance of blood borne infections.
The segment of recombinant coagulation factor concentrates accounted for the leading 46.6% share in the overall market in 2015. The components of recombinant coagulation factor concentrate segment are factor IX, factor VII, and combination drugs.
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Hemophilia Treatment Drugs Market: Regional Outlook
The key geographical regions into which the hemophilia treatment drugs market is divided are North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Of them, North America is reported to dominate the hemophilia treatment drugs market; the region is likely to hold on to its position in the near future on the back of an ultra-modern healthcare infrastructure.
Besides this, a high level of awareness among individuals regarding therapeutics for hemophilia is likely to boost the growth of this regional market. At present, the U.S. is the leading domestic market for hemophilia treatment drugs in North America.
Meanwhile, Europe is predicted to lose its market share due to patent expiration of several blockbuster drugs. Asia Pacific is likely to emerge as lucrative market and present substantial revenue contribution to the overall market. Factors such as rising healthcare spending, improving healthcare facilities, and rising awareness about the disease in emerging economies of the region have spiked the hemophilia treatment drugs market.
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Hemophilia Treatment Drugs Market: Major Players
The global market for hemophilia treatment drugs is largely consolidated with majority share held by top ten players vis-à-vis revenue. Of them, Novo Nordisk A/S, Pfizer Inc., and Shire Plc. raked in the lion’s share of 48.8% in the overall market in 2015. Savvy players are vying for strategic alliances to improve their research and development expertise with the focus to enhance their product portfolio.
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