Global hemophilia market to gain momentum with introduction of novel products

Hemophilia is a genetic ailment wherein affected individuals, mostly males, bleed longer than usual post surgeries or injuries. It is categorized into three types, namely hemophilia A, B, and C. Hemophilia A, the most common, is caused by low ‘active clotting factor VIII’ levels in blood. It is seen once in approximately 5, 000 male births.

Hemophilia B results from low ‘active factor IX’ levels. It is found once in about 20, 000 male births. Hemophilia C is a rare & mild condition that affects both males and females. Shortage of ‘clotting factor XI’ in blood leads to the same.

Patients with mild or moderate hemophilia need ‘clotting factor replacement therapy’ prior to surgeries. Conversely, 50 % of type A patients suffer severely. In addition to their prolonged external bleeding from trauma, they suffer internal bleeding (typically on blood flowing to their joint spaces). If untreated on time, joint bleeding may cause permanent damages and deformities. Further complications can involve brain hemorrhages and muscle bleeding.

Grand View Research, Inc., a San Francisco based market research firm has anticipated that the global hemophilia market will reach the value of USD 15 billion by 2024. Favorable governmental initiatives and diagnostic requirements (to initiate prophylaxis treatment) are projected to drive market sales.

The market is fragmented by types, treatments, therapies, and regions. As discussed above, there are 3 types. Hemophilia B should grow at a healthy CAGR (over 6%) during the forecast period (2016 to 2024). This would owe to growing hemophilia B incidences & their ‘treatment’ endeavors.

It was found that recombinant clotting factors (drugs) created without animal or human plasma derivatives lowered the possibilities of allergic reactions on products. They dominate the global market. Baxalta Inc., which focuses on bleeding ailments and immunology, reigns. However, a pioneering drug, BeneFIX, by Pfizer Inc. leads hemophilia B sector.

Treatments include ‘on-demand’ and ‘prophylaxis.’ On-demand led the market in 2015. It is likely to have over 50% shares by 2024. However, prophylaxis will be the fastest-growing treatment in the near future. Prophylaxis treatment could be propelled by ‘better bleeding management’ demand and ‘healthcare’ fiscal aid.

For instance, Grifols, a Spanish pharmaceutical company, has introduced ’AlphaNine SD Copay Card’ to help patients receive prophylaxis treatment. Therapies in the hemophilia market encompass Immune Tolerance Induction [ITI], replacement, and gene. Gene is estimated to grow the fastest in the next eight years.

North America dominates the market. It may occupy over 45% shares by 2024. Its multiple cases along with tendency for prophylaxis treatment are anticipated to propel this region. Asia-Pacific should undergo rapid expansion.

The worldwide market is competitive and attracts more companies; introducing advanced products. Last year, ‘Biogen’ entered this market and now threatens to weaken its ‘long-standing’ status quo. In March 2014, the ‘Food and Drug Administration’ (FDA) approved its long-acting recombinant factor IX Fc fusion protein.

Around three months later, its long-acting factor VIII was also approved. Some key participants in the global hemophilia market are Pfizer, Inc.; BioMarin Pharmaceutical, Inc.; Chugai Pharmaceutical Co.; and Shire Plc.

Reference Links:
http://www.grandviewresearch.com/industry-analysis/hemophilia-treatment-industry