Hemophilia Market Size

Hemophilia Market Analysis

The hemophilia market is expected to register a CAGR of 5.7% during the forecast period.

The outbreak of COVID-19 adversely impacted individuals with chronic medical conditions, such as hemophilia. They had to take extra precautions to minimize the risk of contracting COVID-19, as this population group was more prone to infectious diseases. In addition, according to the study published in the Journal of Dental and Medical Sciences in August 2020, the mean annualized bleed rate before the lockdown was 2.4. In contrast, it significantly increased to 8.2 during the lockdown in children who were on regular prophylaxis earlier. Among various reasons cited by them for not attending a Hemophilia treatment center, the important reasons were non-availability of transport (97.5%), fear of coronavirus infection (95%), and high cost of alternate transport (90%). It slowed down the market growth during the pandemic. However, since the pandemic restriction was eased and the rise in availability of advanced therapies for hemophilia, the studied market is likely to grow notably in the coming years.

Certain factors driving the market growth include the growing prevalence of hemophilia, favorable government initiatives, and rising research and development. For instance, according to the World Federation of Hemophilia Global Report 2021, there were 386,966 people with bleeding disorders identified globally, of which 233,577 cases were hemophilia. Such a huge prevalence of hemophilia globally will likely lead to increased adoption of therapies for hemophilia, driving market growth.

Additionally, an increase in grants for research on hemophilia is expected to contribute to the market studied over the forecast period. For instance, in March 2022, a researcher from the Indiana University School of Medicine received USD 2 million from the National Heart Lung and Blood Institute. It is for developing three major themes in a gene therapy approach that could lead to safer and potentially curative treatments for hemophilia. It will lead to the development of novel therapies for hemophilia, thereby expected to drive market growth over the forecast period. Moreover, rising product approvals for the United States Food and Drug Administration are expected to propel the market growth. For instance, in March 2022, Freeline Therapeutics Holdings plc dosed the first patient in its Phase 1/2 B-LIEVE dose-confirmation clinical trial of FLT180a for treating hemophilia B. It is a debilitating genetic bleeding disorder caused by a clotting factor IX protein deficiency.

Thus, due to the rise in hemophilia cases and the increase in product launches coupled with research and development for hemophilia therapies, the studied market is expected to witness significant market growth over the forecast period. However, the high cost of hemophilia treatment and the need for more awareness among people regarding advanced technologies is expected to hinder the studied market.