The global Rare Hemophilia Factors market size is expected to be worth around US$ 536.3 Million by 2030, according to a new report by Vision Research Reports.
The global Rare Hemophilia Factors market size was valued at US$ 313.3 million in 2020 and is anticipated to grow at a CAGR of 15.1% during forecast period 2021 to 2030.
Several factor concentrates gaining marketing approvals from regulatory bodies such as the U.S. FDA are expected to provide a significant push to the market. In addition, growing adoption of prophylaxis treatment by patients is expected to boost the growth of the market in the coming years. Patients with severe rare hemophilia factor disorders are recommended prophylactic treatment to avoid bleeding episodes and improve quality of life.
Favorable government initiatives and mandates to increase diagnosis and treatment rates are escalating the growth of the market. For instance, the U.S. Congress enacted the Orphan Drug Act (ODA) in 1983. From 1983 to 2015, around 3,647 drugs were designated the status of orphan drugs and 554 drugs were approved by the U.S. FDA. Several key market players in the market are focusing on R&D to launch new products and solutions for the treatment of rare hemophilia factor disorders. For instance, in October 2015, FDA approved Coagadex for the treatment of hereditary factor X deficiency. Introduction of new factor concentrates is likely to bolster market growth over the forecast period.
On the basis of type, the market is segmented into I, II, V, VII, X, XI, and XIII deficiencies. Awareness about rare hemophilia deficiencies is anticipated to increase over the forecast period, due to efforts taken by organizations such as the World Federation of Hemophilia (WFH) for patient advocacy and improving diagnosis and treatment of rare hemophilia disorders. Factor VII deficiency has the highest prevalence of 1 per 300,000-500,000 as per the National Hemophilia Foundation.
The F-VII deficiency segment commanded the largest share in the market in 2016. The segment is estimated to maintain its position, rising at the highest CAGR during the forecast period. The growth of the segment can be attributed to the availability of treatment options such as recombinant factor VIIa (rFVIIa), NovoSeven (manufactured by NovoNordisk, Denmark). Moreover, as per a publication by “Hemophilia of Georgia” in 2013, several new rFVIIa products, counterparts of NovoSeven, were being developed by market players such as CSL Behring, Pfizer/Catalyst Biosciences, and Baxter. Such competitive rivalry among key players is poised to provide a fillip to the market.
On the basis of treatment, the rare hemophilia market is segmented into factor concentrates, fresh frozen plasma, cryoprecipitate, and others. The others segment comprises of prothrombin complex concentrate (PCC), desmopressin, and antifibrinolytic drugs.
The fresh frozen plasma segment held the largest share in 2016. Fresh frozen plasma contains all clotting factors and blood proteins. Due to limited availability and affordability of factor concentrates, fresh frozen plasma is used routinely to manage bleeding episodes in rare hemophilia deficiencies.
The factor concentrates segment is projected to expand at the highest CAGR during the forecast period. Factor concentrates are considered to be the safest and most effective treatment option. They are gaining preference for other treatment options such as cryoprecipitate and fresh frozen plasma, as they allow replacement of specific defective or deficient protein without adverse effects created by transfusion reactions or volume overloads.
North America was at the forefront of the global arena in 2016. Government initiatives to increase the rate of diagnosis & reduce treatment costs, research activities to improve management of rare hemophilia conditions, and the strong presence of key players some of the factors supplementing the growth of the region. For instance, the National Organization for Rare Disorders (NORD), headquartered in the U.S., provides several research grants for the study of rare diseases. In addition, U.S. FDA approvals for certain coagulation factor concentrates in recent years have helped the regional market to gain traction.
Asia Pacific is expected to witness the highest growth over the forecast period owing to the growing population and rising incidence of autosomal recessive disorders due to consanguineous marriages in countries such as India, Pakistan, and China. As per an article titled “Epidemiological study of consanguineous marriage and its effects,” published in the International Journal of Community Medicine and Public Health, the prevalence of consanguineous marriages is high in the Middle East, Africa, and South Asia, estimated at around 20.0% to 50.0% of all marriages.
Novo Nordisk; Biogen; Bayer healthcare; Pfizer, Inc.; Baxalta; CSL Behring; and Bio Products Laboratory Ltd.
Fresh Frozen Plasma
The Middle East and Africa (MEA)
The Rare Hemophilia Factors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Rare Hemophilia Factors market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Rare Hemophilia Factors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Rare Hemophilia Factors market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Rare Hemophilia Factors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Rare Hemophilia Factors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Rare Hemophilia Factors by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Rare Hemophilia Factors market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Rare Hemophilia Factors market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Rare Hemophilia Factors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Rare Hemophilia Factors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Rare Hemophilia Factors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Rare Hemophilia Factors market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Rare Hemophilia Factors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Rare Hemophilia Factors market. These factors have benefited the growth of the global market for Rare Hemophilia Factors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Rare Hemophilia Factors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Rare Hemophilia Factors are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.