Rare Hemophilia Factors Market To Reach $499.5 Million By 2030

Rare Hemophilia Factors Market Growth & Trends

The global rare hemophilia factors market size is expected to reach USD 499.5 million by 2030, registering a CAGR of 6.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. Several factor concentrates gaining marketing approvals from regulatory bodies, such as the U.S. FDA, are expected to provide a significant push to the market growth. In addition, the rising adoption of prophylaxis treatment by patients is expected to boost market growth in the coming years. Patients with severe rare hemophilia factor disorders are recommended prophylactic treatment to avoid bleeding episodes and improve quality of life. The COVID-19 pandemic had a significant impact on the market growth.

The pandemic's emphasis on patient safety and infection control measures led to an increased awareness and importance placed on safety measures in the administration of specific clotting factor therapies. Healthcare providers and patients became more conscientious about following hygienic practices during treatment administration, such as proper disinfection, hand hygiene, and the use of personal protective equipment. This increased emphasis on patient safety measures may have long-term benefits for the administration of rare hemophilia factors. Despite the challenges posed by the pandemic, there was still a high demand for specific clotting factor therapies for rare hemophilia. Patients with rare hemophilia types still required these therapies to effectively manage and treat their condition.

Favorable government initiatives and mandates to increase diagnosis and treatment rates are boosting market growth. For instance, the U.S. Congress enacted the Orphan Drug Act (ODA) in 1983. From 1983 to 2015, around 3,647 drugs were designated the status of orphan drugs, and 554 drugs were approved by the U.S. FDA. The market players are constantly undertaking initiatives, such as innovative product launches and collaborations, to gain an advantage in the highly competitive market. For instance, in November 2022, the FDA announced its approval of an innovative gene therapy for the treatment of genetic blood-clotting Hemophilia B disorder. Kymriah, the gene-based therapy, is used for the treatment of B-cell precursor hemophilia patients below 25 years of age.

 Request a free sample copy or view report summary: Rare Hemophilia Factors Market Report

Rare Hemophilia Factors Market Report Highlights

• Based on types, the factor VII segment accounted for the largest revenue share of 32.5% in 2022 and is also expected to grow at the fastest CAGR of 7.6% from 2023 to 2030 owing to the increasing prevalence of this factor deficiency

• Based on treatments, the fresh frozen plasma segment accounted for the largest revenue share in 2022 owing to its ease of consumption and the increasing consumer preferences

• In 2022, North America dominated the industry with a share of 39.8% owing to the well-established pharmaceutical and medical industry in the region. On the other hand, Asia Pacific is anticipated to grow at the fastest CAGR of 8.2% over the forecast period

• This is due to the increasing prevalence of child population in countries, such as China and India

Rare Hemophilia Factors Market Segmentation

Grand View Research has segmented the global rare hemophilia factors market based on type, treatment, and region:

Rare Hemophilia Factors Type Outlook (Revenue, USD Million, 2018 - 2030)

• Factor I

• Factor II

• Factor V

• Factor VII

• Factor X

• Factor XI

• Factor XIII

Rare Hemophilia Factors Treatment Outlook (Revenue, USD Million, 2018 - 2030)

• Factor Concentrates

• Fresh Frozen Plasma

• Cryoprecipitate

• Others

Rare Hemophilia Factors Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Norway

  • Denmark

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List of Key Players in the Rare Hemophilia Factors Market

• Novo Nordisk

• Biogen

• Bayer Healthcare

• Pfizer, Inc.

• Shire

• Baxalta (Baxter Healthcare)

• CSL Behring

• Bio Products Laboratory Ltd.