We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image
  • Published In : Apr 2023
  • Code : CMI3257
  • Pages :180
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

Global factor VIII deficiency treatment market is estimated to be valued at US$ 2,520.0 million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030). Increase in product launches by key market players is expected to drive market growth over the forecast period. Moreover, an increase in the prevalence of hemophilia is also expected to drive market growth.

Analysts’ Views on Global Factor VIII Deficiency Treatment Market:

The Global factor VIII deficiency treatment market growth is driven by an increase in approvals by various regulatory authorities such as U.S. FDA. For instance, on February 23, 2023, Sanofi, a France-based multinational pharmaceutical and healthcare company, announced that they have received U.S. FDA approval for its efanesoctocog alfa, a first-in-class, high-sustained factor VIII replacement therapy, useful for the treatment of hemophilia A in adults

Figure 1. Global Factor VIII Deficiency Treatment Market Share (%), by Product Type, 2023

GLOBAL FACTOR VIII DEFICIENCY TREATMENT MARKET

To learn more about this report, request a free sample copy

Global Factor VIII Deficiency Treatment Market- Driver

Increase in the research and development activities by key market players

Increase in the research and development activities by key market players for the treatment of hemophilia is expected to drive market growth over the forecast period. For instance, in December 2022, Pfizer Inc., a U.S.-based multinational biopharmaceutical company, announced positive top-line results from the Phase 3 BENEGENE-2 study evaluating fidanacogene elaparvovec, an investigational gene therapy, for the treatment of adult males with moderately severe to severe hemophilia B.

An increase in funding by non-government organizations

Increase in the initiatives by various government and non-government organizations for providing funding for hemophilia research and to develop novel treatment solutions is expected to propel the Global factor VIII deficiency treatment market growth for the forecast period. For instance, in September 2022, National Hemophilia Foundation, a U.S.-based non-government organization, announced that they have launched Pathway to Cures (P2C), a new venture philanthropy investment fund, under which the organization grants US$ 3.5 million in funding for research on blood-related disorders

Figure 2. Global Factor VIII Deficiency Treatment Market Share (%), by Region, 2023

GLOBAL FACTOR VIII DEFICIENCY TREATMENT MARKET

To learn more about this report, request a free sample copy

Global Factor VIII Deficiency Treatment Market- Regional Analysis

Among all regions, North America is expected to dominate the global market over the forecast period. This is attributed to North America holding a 39.5% market share and due to the presence of major players such as Baxter, Biogen, Inc., Bayer AG, and others contributing to the development of the factor VIII deficiency treatment market in North America.

The Asia Pacific region is expected to be the second dominating region over the forecast period, due to an increase in the number of people suffering from hemophilia. For instance, according to an article published in springer nature, an open-access scientific journal, in September 2020, the number of people suffering from hemophilia each year in India is between 100,000 – 125,000

Global Factor VIII Deficiency Treatment Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting the production and demand for drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others faced problems with regard to the transportation of drugs and vaccines from one place to another.

Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending. Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which were required to ensure safety in hospitals and provide treatment to patients with other diseases. This has impacted the overall healthcare market negatively. Additionally, a decline in the number of patients visiting hospitals decreased, which is expected to affect the Global factor VIII deficiency treatment market over the forecast period.

Global Factor VIII Deficiency Treatment Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 2,520.0 Mn
Historical Data for: 2017 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 5.1% 2030 Value Projection: US$ 3,561.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrates, Biologic (Hemlibra), Desmopressin
  • By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Companies covered:

Baxter, Biogen, Inc., Bayer AG, CSL Behring, Ferring B.V., F. Hoffmann-La Roche AG, Pfizer, Inc., Kedrion, and Novo Nordisk A/S

Growth Drivers:
  • Increase in the research and development activities by key market players
  • An increase in the funding by non-government organizations
Restraints & Challenges:
  • High cost associated with hemophilia treatment

Global Factor VIII Deficiency Treatment Market Segmentation:

The Global factor VIII deficiency treatment market report is segmented into product type, and distribution channel

Based on product type, the market is segmented into plasma derived coagulation factor concentrates, recombinant coagulation factor concentrates, biologic (hemlibra), and desmopressin. Out of which, the recombinant coagulation factor concentrates segment is expected to dominate the Global factor VIII deficiency treatment market during the forecast period and this is attributed to an increase in the product launches by key market players.

Based on distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Out of which, the hospital segment is expected to dominate the market over the forecast period and this is attributed to an increase in the number of hospitals globally.

Among all segmentation, the product type segment has the highest potential due to an increase in the number of product approvals. For instance, Chugai Pharmaceutical Co., Ltd., a Japan-based pharmaceutical company, announced that it obtained regulatory approval from the Ministry of Health, Labour and Welfare for the anti-coagulation factor IXa/X humanized bispecific monoclonal antibody/coagulation factor VIII substitute Hemlibra [generic name: emicizumab (genetical recombination)] for patients with acquired hemophilia A.

Global Factor VIII Deficiency Treatment Market Cross Sectional Analysis:

In the product type segment, Biologic segment held a dominant position in the North America region due to an increase in the inorganic strategies between key market players. For instance, in June 2020, CSL Behring, a U.S.-based biopharmaceutical company, announced that it had acquired exclusive global license rights to commercialize AMT-061 (etranacogene dezaparvovec), a biologic based drug candidate indicated to treat hemophilia from Uniqure NV, a Netherlands based pharmaceutical company

Global Factor VIII Deficiency Treatment Market: Key Developments

In November 2022, the U.S. Food and Drug Administration announced that they have approved Hemgenix (etranacogene dezaparvovec), an adeno-associated virus vector-based gene therapy for the treatment of adults with Hemophilia A and B (congenital Factor IX and/or VIII deficiency)

In December 2021, Pfizer Inc., a U.S.-based multinational biopharmaceutical company, and Sangamo Therapeutics, Inc., a genomic medicines company, announced that their drug candidate giroctocogene fitelparvovec an investigational gene therapy for patients with moderately severe to severe hemophilia A, meet the regulatory requirements.

Global Factor VIII Deficiency Treatment Market: Restraint

High cost associated with hemophilia treatment

The major factors that can hamper the growth of the Global factor VIII deficiency treatment market over the forecast period include the high cost of hemophilia treatment. For instance, according to National Hemophilia Foundation, in May 2021, the average 6-month cost of hemophilia treatment is around US$ 300,000.

Global Factor VIII Deficiency Treatment Market: Key Players

Major players operating in the Global Factor VIII Deficiency Treatment market include Baxter, Biogen, Inc., Bayer AG, CSL Behring, Ferring B.V., F. Hoffmann-La Roche AG, Pfizer, Inc., Kedrion, and Novo Nordisk A/S

*Definition: Hemophilia is usually an inherited bleeding disorder in which the blood does not clot properly. This can lead to spontaneous bleeding as well as bleeding following injuries or surgery. Blood contains many proteins called clotting factors that can help to stop bleeding.

Frequently Asked Questions

The Global factor VIII deficiency treatment market is estimated to be valued at US$ 2,520.0 million in 2023 and is expected to exhibit a CAGR of 5.1% between 2023 and 2030.

Increase in the research and development activities by key market players and an increase in the funding by non-government organizations are expected to drive the market.

Recombinant coagulation factor concentrates is the leading product type segment in the market. 

The major factors that can hamper the growth of the market include the high cost associated with hemophilia treatment.

Major players operating in the market Baxter, Biogen, Inc., Bayer AG, CSL Behring, Ferring B.V., F. Hoffmann-La Roche AG, Pfizer, Inc., Kedrion, and Novo Nordisk A/S

View Our Licence Options

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request Discount
Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo