DUBLIN--(BUSINESS WIRE)--The "Rare Hemophilia Factors Market Size, Share & Trends Analysis Report By Type (Factor I, Factor II, Factor VII), By Treatment (Factor Concentrates, Fresh Frozen Plasma, Cryoprecipitate), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global rare hemophilia factors market is poised for substantial growth, targeting a USD 499.5 million market size by 2030, accompanied by a noteworthy compound annual growth rate (CAGR) of 6.9% from 2023 to 2030.
The surge in the market is primarily attributed to the increased availability of tailored factor concentrates securing regulatory approvals, notably from the U.S. FDA.
Additionally, the rising adoption of prophylaxis treatment among patients is expected to be a significant growth driver in the coming years. Prophylactic treatment is recommended for individuals with severe rare hemophilia factor disorders to prevent bleeding episodes and enhance their quality of life. Notably, the COVID-19 pandemic had a notable impact on the market's trajectory.
Pandemic Spurs Emphasis on Safety:
The pandemic underscored the importance of patient safety and infection control measures, resulting in heightened awareness and stringent safety measures during clotting factor therapy administration. Healthcare providers and patients alike prioritized hygienic practices, including proper disinfection, hand hygiene, and personal protective equipment usage during treatment.
This intensified focus on patient safety measures is expected to have enduring benefits for rare hemophilia factor administration. Despite pandemic-induced challenges, the demand for specific clotting factor therapies for rare hemophilia remained robust, underscoring the essential role these therapies play in effectively managing and treating the condition.
Government Initiatives and Mandates Fuel Growth:
Favorable government initiatives and mandates aimed at increasing diagnosis and treatment rates are propelling market growth. The Orphan Drug Act (ODA) enacted by the U.S. Congress in 1983 is a noteworthy example, resulting in the designation of over 3,600 drugs as orphan drugs and the approval of 554 drugs by the U.S. FDA from 1983 to 2015.
Market Players Pursue Innovation:
Key market players are actively pursuing innovation through product launches and collaborations, seeking a competitive edge in this dynamic landscape. A notable instance is the FDA's approval of Kymriah, an innovative gene therapy for the treatment of genetic blood-clotting Hemophilia B disorder, announced in November 2022. Kymriah caters to B-cell precursor hemophilia patients below 25 years of age.
Segment Insights:
- In 2022, the factor VII segment commanded the largest revenue share at 32.5%. It is also projected to exhibit the fastest CAGR of 7.6% from 2023 to 2030, driven by the increasing prevalence of factor VII deficiency.
- Among treatments, the fresh frozen plasma segment secured the largest revenue share in 2022, owing to its ease of consumption and growing consumer preferences.
- In 2022, North America emerged as the industry leader, capturing a 39.8% share, thanks to its well-established pharmaceutical and medical industry. Conversely, Asia Pacific is anticipated to experience the fastest CAGR of 8.2% during the forecast period, driven by the rising child population in countries like China and India.
Company Profiles
- Novo Nordisk
- Biogen
- Bayer Healthcare
- Pfizer, Inc.
- Shire
- Baxalta (Baxter Healthcare)
- CSL Behring
- Bio Products Laboratory Ltd.
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Research Methodology
1.3. Information Procurement
1.4. Information or Data Analysis
1.5. Market Formulation & Validation
1.6. Model Details
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Rare Hemophilia Factors Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Rare Hemophilia Factors Market Analysis Tools
3.4.1. Industry Analysis - Porter's
3.4.2. PESTEL Analysis
Chapter 4. Rare Hemophilia Factors: Type Estimates & Trend Analysis
4.1. Rare Hemophilia Factors Market: Key Takeaways
4.2. Rare Hemophilia Factors Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Factor I
4.4. Factor II
4.5. Factor V
4.6. Factor VII
4.7. Factor X
4.8. Factor XI
4.9. Factor XIII
Chapter 5. Rare Hemophilia Factors: Treatment Estimates & Trend Analysis
5.1. Rare Hemophilia Factors Market: Key Takeaways
5.2. Rare Hemophilia Factors Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Factor Concentrates
5.4. Fresh Frozen Plasma
5.5. Cryoprecipitate
Chapter 6. Rare Hemophilia Factors Market: Regional Estimates & Trend Analysis
6.1. Regional Outlook
6.2. Rare Hemophilia Factors Market by Region: Key Marketplace Takeaway
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/8e71i3
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