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Factor VIII Deficiency Treatment Market Analysis & Forecast
Factor VIII Deficiency Treatment Market Size, Share, Dynamics, Trends, Forecast and Industry Analysis
The Factor VIII Deficiency Treatment Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 5.7% during the forecast period.
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Factor VIII is a vital blood-clotting protein, which is also known as an antihemophilic factor. In individuals, the factor VIII is mainly encoded by the F8 gene. The defects in this gene lead to haemophilia A, which is a recessive X-linked coagulation disorder. Factor VIII has been generated in liver sinusoidal cells and endothelial cells outside the liver around the body. This protein primarily mixes in the bloodstream in an inactive form and binds to another molecule called the von Willebrand factor, until damage to blood vessels occurs. In response to injury, coagulation factor VIII is quickly activated, and it separates from the von Willebrand factor.
Key players operating in the global factor VIII deficiency treatment market are-
The rising incidence of haemophilia A, growing adoption of prophylactic treatment, and the development of novel drugs with extended actions are some of the key factors augmenting the market growth.
The Haemophilia A drugs segment garnered the largest market share in 2020 and is projected to grow at the highest CAGR during the review period.
The factor VIII deficiency treatment market has been bifurcated into haemophilia A drugs, haemophilia A inhibitors treatment, and von Willebrand disease treatment. Haemophilia A is one of the most common blood disorders and the prevalence rate is high in emerging and underdeveloped countries across the globe. As per the recent statistics, around 19,000 people in India suffer from haemophilia and only 15% of the patients are registered, thus boosts the need for haemophilia A drugs.
The North America market garnered the largest market share in 2020 and is projected to grow at a steady CAGR during the assessment period.
The US is a key country for haemophilia treatment. According to the Haemophilia Federation of America, haemophilia A affects around 1 in 5,000 people in the U.S. and approximately 400 new-borns are diagnosed with haemophilia every year. Also, presence of favourable reimbursement and insurance in the country will result in growing demand and adoption rate of haemophilia medications, expanding the haemophilia treatment market growth in the country.
The outbreak of the COVID-19 virus has negatively influenced the Factor VIII Deficiency Treatment industry. Government bodies across the globe are focusing to curb the COVID-19 with stringent measures, such as nationwide lockdowns, social distancing, and large-scale quarantine to prevent the spread of the coronavirus. Due to the outbreak of the coronavirus disease COVID-19, the medical visits were either cancelled or postponed, which, in turn, hampered the market growth.
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The factor VIII deficiency treatment market is expected to witness an impressive growth of 5.7% CAGR in the foreseeable future.
Pfizer (The U.S), Takeda (Japan), Bayer HealthCare (Germany), CSL (The U.S), Grifols (Spain), Novo Nordisk (Denmark), F. Hoffmann-La Roche (Switzerland), Kedrion (Italy), Octapharma (Switzerland) and Biogen Idec (The U.S) are among the key players in the Factor VIII Deficiency Treatment Market.
North America market garnered the largest market share in 2020 and is projected to grow at a steady CAGR.
The haemophilia A drugs segment garnered the largest market share in 2020 and is projected to grow at the highest CAGR.
Rising incidence of haemophilia A, growing adoption of prophylactic treatment, and the development of novel drugs with extended actions are the factors driving the growth of factor VIII deficiency treatment market.
Factor VIII deficiency treatment companies, Drug companies, Hospitals, Medical devices companies, R&D centers are the target audience in the factor VIII deficiency treatment market.
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