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Hemophilia Management Market Size to Grow at a CAGR of 5.6% During the Forecast Period 2021-2026

(Medical-NewsWire.com, February 01, 2022 ) Hemophilia Management Market size was estimated at $12.9 billion in 2020, projected to increase at a CAGR of 5.6% during the forecast period 2021-2026. The rising prevalence of hemophilia and the rise in favorable government efforts are both contributing to the worldwide hemophilia Management Industry’s Growth. Hemophoresis is the term for blood convection or tissue irrigation. Hemophilia is an inherited genetic disorder caused by a genetic inability for the blood to clot properly. This causes bleeding on its own as well as bleeding after an injury or surgery. Furthermore, it is genetically handed down to the offspring, with the National Hemophilia Foundation reporting that roughly 1/3 of cases of factor VIII insufficiency in 2019 were caused by a spontaneous mutation in the parents' gene. Over the forecast period, the market is expected to rise owing to an increase in the incidence and prevalence of hemophilic illnesses. As a result, prominent players have launched products to meet consumers' unmet demands. Other variables that are predicted to promote market growth are favorable regulatory circumstances and guidelines for product introductions and therapy.



Hemophilia Management Market Segment Analysis – By Product:



The Hemophilia Management market is segmented into plasma-derived coagulation factor concentrates, recombinant coagulation factor concentrates, Extended Half Life Products based on the type of product. In 2020, the market for recombinant coagulation factor concentrates was dominated. This is mainly owing to the increased production of recombinant factor concentrates that has provided a new path for treating hemophilia, an inherited genetic disorder, and overcoming the paucity of plasma-derived concentrates. The infusion of clotting factor concentrates on a regular basis to prevent bleeding is known as prophylaxis. Desmopressin is a medication that helps individuals with von Willebrand's disease or mild hemophilia A stop bleeding. Desmopressin causes von Willebrand's antigen to be released from the platelets and cells that line the blood arteries where it is kept. Increased replacement therapy safety with the use of recombinant factor concentrates has also improved patient quality of life substantially. Over the forecasted period, the increased popularity of recombinant factor concentrates in the treatment of hemophilia boosts market growth. Over the projected period, the market for extended half-life products is anticipated to increase at a healthy rate of 6.2%. New factor concentrates have been developed as a result of recent research and development, which are more efficient and require fewer injections. The enhanced half-life of the substance is the rationale for fewer injections. As a result of recent technology developments and new product introductions, demand and adoption rates for extended half-life goods will rise, boosting corporate growth.



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Hemophilia Management Market Segment Analysis – By Treatment:



The Hemophilia Management market is segmented into, Prophylaxis, On-Demand. The prophylaxis therapy market segment has dominated the market in 2020. In individuals with severe hemophilia, long-term prophylactic medication is regarded standard of care for preventing chronic arthropathy and joint hemorrhage. Owing to its efficiency and better end outcomes, prophylaxis treatment is preferred by the majority of patients and healthcare practitioners. As a result, the rising popularity of prophylaxis treatment boost corporate growth in the near future. On-demand therapy segment is estimated to account for the fastest CAGR of 6.5% during the forecast period 2021-2026. To prevent bleeding in those with mild to moderate hemophilia, on-demand therapy is used. Children with severe hemophilia receive prophylaxis therapy to prevent bleeding until they reach adulthood, when they switch to on-demand treatment for a variety of reasons, including strict work schedules, the inconvenience of visiting doctors or going to a clinic several times a week, and the high cost of continuous prophylaxis therapy. As a result, the aforementioned factors drive the market expansion of the on-demand treatment sector.



Hemophilia Management Market Segment Analysis – By Geography



Based on Geography, in 2020, North America Hemophilia Management Market accounted for 43% of total sales. Owing to the quick adoption of new technology, North America has been a promising geographical market globally for the previous decade. The increasing number of hospitals being built with advanced equipment to treat inherited genetic disorder is expected to boost market demand. Hemophilia A affects about 1 in 5,000 people in the United States, according to the Hemophilia Federation of America, and about 400 new-borns are diagnosed with hemophilia every year. Furthermore, the presence of good reimbursement and insurance in the country results in increased demand for hemophilia medications and a higher rate of adoption, expanding the market in the country. Desmopressin is an antidiuretic that acts by decreasing the amount of water that is excreted in the urine. Over the projection period, Asia-Pacific is estimated to increase at the fastest rate. The important effect delivering drivers are early diagnosis of diseases in countries such as Japan, India, Indonesia, and Malaysia, as well as increased per capita use of medicines for factor VIII and IX insufficiency. Various government programs have aided in the development of required infrastructure, as well as empowering healthcare providers and patients to self-administer treatment at home, thereby improving patients' quality of life.



Hemophilia Management Market Segment Analysis Drivers



Increasing Cases of Hemophilia is Anticipated to Fuel the Demand for its Therapies:



Owing to the rising number of hemophilic or factor VIII deficiency cases, the hemophilia treatment market is likely to rise significantly over the forecast period. According to the World Federation of Hemophilia, approximately 18,353 people in India suffer with hemophilia, and 15,218 people were diagnosed with hemophilia A in 2016, with factor VIII deficiency accounting for 83.0% of cases. Furthermore, according to estimates published by the World Federation of Hemophilia in 2017, there were around 10,000 patients with hemophilia A in Brazil. Moreover, Regulatory approvals are projected to fuel the expansion of the hemophilia treatment market throughout the forecast period. For example, the FDA authorized Kedrion's Koate Double Viral Inactivation (DVI) Antihemophilic Factor (human) with Mix2Vial in 2016 for the treatment of factor VIII insufficiency. Furthermore, the US Food and Drug Administration approved Novo Nordisk's long-acting recombinant factor VIII product, N8-GP Turoctocog alfa pegol (Esperoct), for treatment and prevention of hemophilia A in February 2019.



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Hemophilia Management Market Segment Analysis Challenges



Costly Therapies for Hemophilia Treatment are posing a challenge to the Market Growth:



The rise in hemophilia treatment expenses has coincided with the progression of hemophilia management from episodic bleed treatment to prophylaxis. While focusing on prophylaxis has increased short-term expenditures, it is likely that it has also helped to balance some of the disease's long-term costs, such as treating bleeding, replacing joints, or lost wages due to job absence. According to Jonathan M. Ducore, MD, MPH, of the UC Davis Hemostasis and Thrombosis Center, clotting factors are probably utilized more than any other medicine for persons with hemophilia who require treatment. The factor itself is the most significant cost of care for these individuals. For example, Advate, a third-generation recombinant antihemophilic factor for hemophilia A with a typical half-life of 12 to 14 hours that was initially FDA approved in 2003, has an average retail price per prescription of $20,630. 5 Eloctate, a fourth-generation antihemophilic factor approved in 2014 with a longer half-life (20 hours), is priced similarly. FEIBA is an anti-inhibitor coagulant compound that has the ability to circumvent the FVIII inhibitor. Treatment of a single bleeding episode with FEIBA can cost $50,000 or more, according to a 2018 study from the Institute for Clinical and Economic Review. FEIBA and NovoSeven were named as the fourth and fifth most costly medications for commercially insured patients in the 2018 pharmacy trend report, costing $956,408 and $800,490 per patient per year, respectively. They're also good for the companies that make them: NovoSeven and FEIBA had sales of around $1.36 billion and $800 million, respectively, in 2016.



Hemophilia Management Market Segment Landscape:



Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Hemophilia Management Market. In 2020, the Hemophilia Management Market share is consolidated by the top ten players present in the market Hemophilia Management Market top 10 companies are Biogen, Pfizer Inc., Baxter International Inc., Bayer Pharma AG, Novo Nordisk A/S, and Grifols International SA, CSL Behring, Octapharma, Swedish Orphan Biovitrum AB, Sanofi SA, Pfizer, Genentech,



Acquisitions/Product Launches:



In May 2021, CSL Behring announces the completion of a global commercialization and license agreement for etranacogene dezaparvovec with uniQure. Etranacogene dezaparvovec (AMT-061) is an experimental gene treatment that give people with hemophilia B years of functional levels of Factor IX, a blood-clotting protein that stops excessive bleeding.



Related Reports:



A. Rare Hemophilia Factors Market



industryarc.com/Research/Rare-Hemophilia-Factors-Market-Research-503706



B. Hematology Diagnostics Market



https://www.industryarc.com/Research/Hematology-Diagnostics-Market-Research-508518



For more Lifesciences and Healthcare Market related reports, please click here



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