Rare Hemophilia Factors Market to Grow with a CAGR of 5.54% through 2028
Advancements in research and development is expected
to drive the Global Rare Hemophilia Factors Market growth in the forecast
period, 2024-2028.
According to TechSci Research report, “Rare
Hemophilia Factors Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Rare
Hemophilia Factors Market stood at USD 278.21 million in 2022 and is
anticipated to grow with a CAGR of 5.54% in the forecast period, 2024-2028. Hemophilia, a rare genetic disorder characterized by impaired blood
clotting, has been a long-standing challenge for patients and healthcare
providers. While hemophilia A and B, caused by deficiencies in clotting Factors
VIII and IX respectively, are more prevalent, there are rarer forms of the
disease resulting from deficiencies in other clotting factors. One of the
primary drivers of the rare hemophilia factors market is the increasing
prevalence of these rare clotting factor deficiencies. In the past, many
patients with these rare forms of hemophilia were misdiagnosed or undiagnosed,
leading to inadequate care. However, with advances in genetic testing and
greater awareness among healthcare professionals, more patients are now
correctly diagnosed. As a result, there is a growing demand for specialized
therapies and treatment options tailored to these rare clotting factor
disorders.
Significant progress in research and development
(R&D) has been a driving force behind the market's growth. Pharmaceutical
companies, research institutions, and healthcare organizations are investing in
R&D efforts to develop innovative therapies for rare hemophilia factor
deficiencies. Gene therapy, in particular, has shown immense promise in
providing long-term relief to patients by addressing the root cause of the
disorder. This innovative approach involves introducing a functional copy of the
deficient clotting factor gene into the patient's cells, effectively curing the
disorder. Technological advancements have facilitated the production and
administration of rare hemophilia factor treatments. Improved manufacturing
processes have led to more efficient and cost-effective production of clotting
factors, making treatment more accessible. Additionally, innovations in drug
delivery systems have made it easier for patients to self-administer these
therapies, reducing the burden of frequent hospital visits.
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Healthcare is increasingly shifting toward a
patient-centric model, where the patient's needs and preferences are at the
forefront of treatment decisions. This approach is particularly important for
individuals with rare hemophilia factor disorders, as their needs can vary
significantly from those with more common forms of the disease. As healthcare
providers tailor treatments to individual patient profiles, the market benefits
from increased demand for personalized therapies.
The Global Rare Hemophilia Factors Market is segmented
into Type, Treatment, Regional Distribution, And Company.
Based on the Treatment, Factor Concentrates emerged as
the dominant segment in the global market for Global Rare Hemophilia Factors
Market in 2022. The production of recombinant factor concentrates has
significantly reduced the risk of bloodborne infections, such as HIV and
hepatitis, which were associated with plasma-derived clotting factor products
in the past. Factor concentrates are generally associated with fewer allergic
reactions compared to other blood-derived products like fresh frozen plasma
(FFP) or cryoprecipitate. The development of extended half-life factor
concentrates has further improved patient outcomes by allowing less frequent
infusions while maintaining effective control over bleeding episodes. Factor
concentrates offer a precise and highly effective treatment for individuals
with rare hemophilia factor deficiencies. They allow healthcare providers to
administer the exact amount of the deficient clotting factor required to
achieve hemostasis, minimizing the risk of over- or under-treatment. Factor
concentrates are relatively easy to store and administer, making them a
convenient choice for both healthcare providers and patients. They can be administered
at home by patients themselves or their caregivers, reducing the need for
frequent hospital visits.
Based on the Type, Factor VII emerged as the dominant
segment in the global market for Global Rare Hemophilia Factors Market in 2022.
Factor VII deficiency, also known as factor VII deficiency or stable factor
deficiency, is a rare bleeding disorder. While rare, it is more common compared
to deficiencies in other factors like Factor I, Factor II, Factor XIII, etc.
This higher prevalence of Factor VII deficiency increases the demand for Factor
VII concentrates and treatments, driving its prominence in the Global Rare
Hemophilia Factors Market. Factor VII, also known as proconvertin, plays a
crucial role in the coagulation cascade, acting at multiple points to promote
blood clotting. It can activate the extrinsic pathway independently and also
participate in the intrinsic pathway of coagulation. This versatile role makes
it a key component in the treatment of various bleeding disorders. Factor VII
concentrates, which are used to manage Factor VII deficiency, have been
developed to effectively address bleeding episodes. They provide a targeted and
precise treatment for individuals with this rare clotting factor deficiency.
North America emerged as the
dominant player in the global Rare Hemophilia Factors Market in 2022, holding
the largest market share. North America is a hub for medical research and
innovation. The region is home to numerous pharmaceutical companies, research
institutions, and universities dedicated to advancing the understanding and
treatment of rare hemophilia factor disorders. The ongoing research and
development efforts have led to the development of innovative therapies,
including gene therapy and tailored treatment options, which are driving the
growth of the market. North America has strong patient advocacy groups and
organizations that actively raise awareness about rare hemophilia factor
deficiencies. These groups play a vital role in advocating for improved
treatment options, supporting affected individuals and their families, and
pushing for policy changes that benefit the patient community. Their efforts
have contributed to increased awareness and access to care.
Major companies operating in Global Rare
Hemophilia Factors Market are:
- Novo Nordisk
- Biogen
- Bayer AG
- Pfizer, Inc.
- Shire Pharmaceuticals
- Baxalta (Baxter Healthcare)
- CSL Behring
- Bio Products Laboratory Ltd.
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“The Global Rare
Hemophilia Factors Market is poised for significant growth in the coming years.
Breakthroughs in gene therapy are offering the potential for long-term relief
and even cures for these conditions, shifting the focus from lifelong treatments
to one-time interventions. Tailored therapies are becoming more prevalent,
providing patients with personalized treatment plans that maximize the
effectiveness of care. Advanced manufacturing processes, technological
innovations, and increased research and development efforts are streamlining
treatment options and making them more accessible. Furthermore, patient
advocacy and global collaborations are raising awareness and fostering a
supportive environment for the development of innovative therapies.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Rare Hemophilia Factors Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Treatment (Factor Concentrates, Fresh Frozen Plasma, Cryoprecipitate, Others),
By Type (Factor I, Factor II, Factor V, Factor VII, Factor X, Factor XI, Factor
XIII) Region and Competition”, has evaluated the future growth potential of Global
Rare Hemophilia Factors Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Rare
Hemophilia Factors Market.
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