Hemophilia Treatment Drugs Market to Be Worth US$25.1 Bn by 2024 – Transparency Market Research

Nov 10, 2017 - (Newswire)

The vendor landscape of the global market for hemophilia treatment drugs has been rendered exceedingly consolidated, owing to the presence of few vendors with a notable grasp on the overall development of the market, observes Transparency Market Research in a recent report. The report states that the leading three companies in the market, namely Shire Plc., Shire Plc., and Shire Plc. accounted for its 49% share in 2015. To beat the decent level of competition and to retain a hold on the market, leading vendors have been involved in strategies such as increased funds diverted towards R&D activities, introduction of novel drug candidates, and geographical expansion.

Transparency Market Research predicts that the global hemophilia treatment drug market will exhibit a healthy CAGR of 5.4% from 2016 to 2024 and rise to a revenue opportunity of US$25.1 bn by 2024 from US$15.8 bn in 2015.

North America to Remain Leading Regional Market

In terms of the type of hemophilia treatment drug available, the recombinant coagulation factor concentrates segment is presently the dominant variety. The segment is also expected to retain dominance over the report's forecast period, holding nearly 47% of the market by the end of the forecast period. Geographically, the market in North America is presently the most lucrative regional market and is also projected to remain at the top throughout the forecast period. Riding in the back of a well-established healthcare infrastructure in most big countries in the region, high disposable incomes, and the rising prevalence of hemophilia, the region is likely to account for a 41% of the global market by the end of the forecast period.

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Increased Focus on Development of New Drug Candidates to Fuel Growth

The market will chiefly be driven by the rising patient pool of hemophilia globally and a steady rise in awareness about the diagnosis of the condition among the global population. The market is also expected to benefit from the rising investment toward the development of novel blood coagulating factors with long-lasting effect. The development of the drug emicizumab is a good example of this trend. Emicizumab prophylaxis has shown excellent results in clinical trials and is expected to soon enter the global marketplace.

High Drug Costs Could Hinder Growth Prospects in Emerging Economies

While the demand for hemophilia treatment drugs is envisaged to witness a promising rise over the report's forecast period, some factors could restrain the overall development of the market to a certain extent. One of the key factors expected to hinder the pace of development of the market over the report's forecast period is the high cost of advanced medications. The high cost of the most innovative and advanced hemophilia treatment drugs could play a big role in negatively affecting the growth of the market in emerging economies. With a vast population of patients requiring hemophilia treatments, emerging economies in regions such as Asia Pacific, Latin America, and Middle East and Africa are some of the most promising regional markets. Howbeit, the lack of cost-effective drugs to target these regional markets could result in many lost opportunities.

Furthermore, most markets associated with hemophilia suffer from the low rate of diagnosis of the condition. Despite the presence of several generic tests for diagnosing the condition, the lack of awareness among patients acts as a restraint, restricting the potential development of the market, especially in remote areas of the globe.

Browse Research Press Release: https://www.transparencymarketresearch.com/pressrelease/hemophilia-treatment-market.htm

The information presented here regarding the global hemophilia treatment drugs market is a brief account of a recent market research report published by Transparency Market Research, titled "Hemophilia Treatment Drugs Market (Product - Recombinant Coagulation Factor Concentrates, Plasma Derived Coagulation Factor Concentrates, Desmopressin, and Antifibrinolytic Agents; Disease Indication - Hemophilia A, Hemophilia B, Acquired Hemophilia, and Hemophilia C; Distribution Channel - Hospital Pharmacies, Retail Pharmacies, and E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

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Original Source: https://www.newswire.com/news/hemophilia-treatment-drugs-market-to-be-worth-us-25-1-bn-by-2024-20049189

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