Global factor VIII deficiency treatment Market, by Product Type (Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrates, Biologic (Hemlibra), Desmopressin), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The increase in the prevalence bleeding-related disorders such as hemophilia is expected to drive the growth of Global factor VIII deficiency treatment market over the forecast period. For instance, according to an article published in The American Journal of Managed Care, in September 2020, the estimates suggest that more than 1,125,000 men around the world have the inherited bleeding disorder or hemophilia
Global Factor VIII Deficiency Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
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.
The COVID-19 pandemic has affected Global factor VIII deficiency treatment market as COVID-19 pandemic has led to increased bleeding in patients suffering from hemophilia. For instance, according to an article published in the National Library of Medicine, in October 2022, patients with hemophilia A are hospitalized more frequently than those without a history of hemophilia A, and gastrointestinal (GI) bleeding and composite bleeding events occurs more frequently in patients with hemophilia A
Global Factor VIII Deficiency Treatment Market: Key Developments
On April 4, 2023, the Hemophilia Federation of America, published the results of two phase-III clinical trial studies conducted by Sanofi SA., a multinational pharmaceutical company, for evaluating the efficacy and safety of fitusiran, an investigational siRNA therapy for the prophylactic treatment of adults and adolescents with hemophilia A or B, and the result suggests 70% efficacy of the drug candidate in treating hemophilia.
In April 2020, HEMA Biologics, LLC, a U.S. based biotechnology company, announced that the U.S. Food and Drug Administration (FDA) has approved SEVENFACT, a coagulation factor VIII, as the first bypassing agent for adults and adolescents (12 years of age and older) with hemophilia A or B.
Browse 25 Market Data Tables and 25 Figures spread through 180 Pages and in-depth TOC on “Global Factor VIII Deficiency Treatment Market”- Forecast to 2030, by Product Type (Plasma Derived Coagulation Factor Concentrates, Recombinant Coagulation Factor Concentrates, Biologic (Hemlibra), Desmopressin), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Factor VIII Deficiency Treatment Market:
- The Global factor VIII deficiency treatment market is expected to exhibit a CAGR of 5.1% during the forecast period due to the increase in research and development activities by key market players. For instance, on March 2, 2023, Sanofi SA., a multinational pharmaceutical company, announced the completion of phase –III clinical trials of ALTUVIIIO, a first-in-class, high-sustained FVIII therapy for treatment and control of bleeding diseases, and the study suggest a positive effect of ALTUVIIIO on patients suffering from hemophilia
- Among product type, the recombinant coagulation factor concentrates segment is estimated to hold a dominant position in the Global factor VIII deficiency treatment market over the forecast period, owing to the increase in the number of product launches by key market players. For instance, in February 2020, Novo Nordisk A/S, a Denmark-based multinational pharmaceutical company, announced the launch of the new Esperoct, a recombinant DNA-derived coagulation Factor VIII concentrate indicated for use in adults and children with hemophilia A
- Major players operating in the Global factor VIII deficiency treatment include Baxter, Biogen, Inc., Bayer AG, CSL Behring, Ferring B.V., F. Hoffmann-La Roche AG, Pfizer, Inc., Kedrion, and Novo Nordisk A/S