Novel product launches by the market players in the factor VIII deficiency treatment is expected to boost growth of the market over the forecast period. For instance, in June 2019, Novo Nordisk received marketing authorization from European commission for Esperoct in Europe. Esperoct is the brand name for turoctocog alfa pegol, N8-GP, indicated for surgical procedures in adolescents and adults with hemophilia A (congenital factor VIII deficiency). Moreover, in April 2019, Roche Products India Pvt Ltd launched hemophilia A drug emicizumab, branded as Hemlibra in India. It is indicated for prophylactic treatment for reducing frequency of bleeding episodes in patients with hemophilia A, through Factor VIII inhibitors.
Furthermore, increasing government initiatives to promote awareness about hemophilia treatment among population is expected to propel growth of the market over the forecast period. For instance, the National Bleeding Authority (NBA) provides funding to AHCDO (Australian Hemophilia Center Directors’ Organization) for treatment and management hemophilia A. to support the effective management of hemophilia (Factor VIII Deficiency) in Australia.
The rest of the world factor VIII deficiency treatment market is expected to exhibit a CAGR of 4.7% over the forecast period (2019-2027).
Figure 1. Rest of the World Factor VIII Deficiency Treatment Market Value (US$ Mn), by Region, 2018
Rising cases of bleeding disorders is expected to boost growth of the rest of the world factor VIII deficiency treatment market
The rest of the world factor VIII deficiency treatment market is expected to witness significant growth, owing to rising cases of hemophilia or bleeding disorders. For instance, according to the Australian Bleeding Disorders Registry 2016 statistics, in 2015 there were around 4,941 patients, who suffered from common hereditary bleeding disorders, of which 2,301 patients were diagnosed with hemophilia A, and 548 patients were diagnosed with hemophilia B in Australia. Thus, increasing prevalence of hemophilia in Australia is expected to drive demand for factor VIII deficiency treatment over the forecast period. Moreover, increasing demand for efficient therapeutics for treatment of factor VIII deficiency from emerging economies such as India is expected to drive the market growth over the forecast period. For instance, according to the World Federation of Hemophilia, 2017 statistics, in India, around 18,353 people were diagnosed with hemophilia in 2016.
Figure 2. Rest of the World Factor VIII Deficiency Treatment Market Share (%), by Product Type, 2019 and 2027
Increasing healthcare expenditure and reimbursement policies in respective countries or regions are expected to drive the market growth
Latin America is expected to hold dominant position in the rest of the world factor VIII deficiency treatment market, owing to increasing per capita healthcare spending in Latin America, which is expected to drive the market growth in the region over the forecast period. For instance, according to the World Bank estimates, 2017, per capita healthcare expenditure increased significantly across Latin America during the six-year (2008-2014) interval, with an increase of 31% in Brazil, 54% in Chile, and 58% in Columbia.
Moreover, Asia Pacific is expected to be the second largest dominating region in the rest of the world factor VIII deficiency treatment market, owing to rising favorable reimbursement policies for hemophilia treatment in economies such as China, which is expected to drive the Asia Pacific market growth. For instance, according to the Chinese Ministry of Health report 2012, in China, outpatient hemophilia treatment is covered by health insurance schemes in over 80% of the cities in China, with reimbursement caps and patient co-pay requirements over 50%. Moreover, annual reimbursement is usually accounted below US$ 16,000.
Major players operating in the rest of the world factor VIII deficiency treatment market include Baxter International, Inc., Biogen, Inc., Bayer AG, CSL Behring, Ferring B.V., F. Hoffmann-La Roche AG, Pfizer, Inc., Kedrion, and Novo Nordisk A/S.
Hemophilia, a factor VIII deficiency is a genetic disorder that is caused by the absence of factor VIII, which is a clotting protein. Moreover, it is genetically passed down to the offspring and according to the National Hemophilia Foundation, in 2019 about 1/3 cases of factor VIII deficiency occurs due to spontaneous mutation in the gene of the parents. Rising incidences and prevalence of hemophilic disorder are expected to boost growth of the market over the forecast period which leads to product launches in the market by the key players, to fulfill the unmet need of the market. Favorable regulatory scenarios and guidelines for the product launches and treatment are another leading factors that are expected to propel growth of the market over the forecast period.
Furthermore, adoption of inorganic strategies by market players such as collaborations to develop the novel therapies for the treatment is also expected to fuel growth of the factor VIII deficiency treatment market over the forecast period. For instance, in July 2019, Sangamo Therapeutics, Inc., a genomic medicine company, and Pfizer, Inc. announced updated results from the Phase 1/2 Alta study evaluating investigational SB-525 gene therapy for severe hemophilia A
Factor VIII deficiency treatment market is expected to witness significant growth over the forecast period, owing to increasing number of hemophilic cases. For instance, according to the World Federation of Hemophilia 2017 statistics, in India, around 18,353 people suffered from hemophilia and 15,218 people were diagnosed with hemophilia A in 2016, out of which around 83.0% had factor VIII deficiency. Moreover, according to the World Federation of Hemophilia reports published in 2017, there were around 10,000 patients with hemophilia A in Brazil. With reference to prior data, World Federation of Hemophilia also reports that in 2017, Brazil had the third largest hemophilia patient population.
Product approvals by the regulatory authorities is expected to drive the growth of factor VIII deficiency treatment market over the forecast period. For instance, in 2019 February, the U.S. Food and Drug Administration approved the biologics license application of Novo Nordisk’s long-acting recombinant factor VIII product, N8-GP Turoctocog alfa pegol (Esperoct), for prevention and treatment of individuals with hemophilia A. Moreover, in 2016 March, the U.S. Food and Drug Administration approved Kedrion’s, Koate Double Viral Inactivation (DVI) Antihemophilic Factor (human) with Mix2Vial, for the treatment of factor VIII deficiency.
Major players are also focused on adopting inorganic growth strategies such as acquisitions, which is expected to fuel the market growth over the forecast period. For instance, in 2018, CSL Behring acquired China-based plasma-derived therapies manufacturer, Wuhan Zhong Yuan Rui De Biological Products Co. Ltd. from Humanwell Healthcare Group Co. Ltd. The acquisition has expanded CSL’s presence in China’s domestic plasma fractionation market. It has also enabled CSL to expand their commercial footprint and contributing their expertise for benefit of patients with rare diseases in China.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.