Rare Hemophilia Factors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Rare Hemophilia Factors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The rare hemophilia factors market is expected to record a CAGR of 4.3% over the forecast period (2022-2027).

The COVID-19 outbreak notably impacted the healthcare sector. As per the article published in 2022 under the title ‘Acquired Hemophilia A Developed Post COVID-19 Vaccine: An Extremely Rare Complication’, eight days after receiving the first dose of the COVID-19 vaccine, an elderly man with a history of autoimmune illnesses (polymyalgia rheumatica) and hepatitis C virus experienced the development of Acquired Hemophilia A (AHA). Moreover, as per the article published in 2022 under the title ‘The Mixed Effects of the First COVID-19 Lockdown on Patients With Hemophilia’, the study results showed that the frequency of bleeding episodes remained unchanged or decreased in 81% of children and 78% of adults with hemophilia during the lockdown. Hence as per the factors mentioned above, COVID-19 had a significant impact on the rare hemophilia factors market.

Certain factors are driving the market growth including rising adoption and approval of new treatment techniques, a growing number of government initiatives, and funding. For instance as per the article published in 2021 under the title ‘Recent Advances in the Treatment of Hemophilia: A Review’, a new era of prevention and treatment of bleeding started with the introduction of a bi-specific monoclonal antibody that clones the effects of FVIII in the tenase complex, moreover other non-replacement therapies are also in development.

Similarly, according to the World Hemophilia Federation’s annual global survey conducted in a period of 1999 to 2020, the number of people affected with hemophilia was 347,026 in 2020. Scientists have reported that hemophilia is three times more prevalent in men worldwide than previously thought and is still associated with a poorer life expectancy, especially in low-income countries. Therefore, the increase in hemophilia is associated with the increasing demand for the Rare Hemophilia Factors Market.

As per the aforementioned factors, the rare hemophilia factors market is likely to grow over the forecast period. However, the high cost associated with hemophilia treatment restrains the market growth.

Key Market TrendsFresh Frozen Plasma (FFP) is Expected to Hold Significant Market Share in the Treatment Segment

Plasma transfusion is indicated for the management of bleeding or to prevent bleeding before an urgent invasive procedure in patients requiring the replacement of multiple coagulation factors. Fresh frozen plasma is the fluid portion of a unit of whole blood that is frozen in a designated time frame, usually within 8 hours. FFP contains all coagulation factors except platelets. FFP contains fibrinogen (400 to 900 mg/unit), albumin, protein C, protein S, antithrombin, and tissue factor pathway inhibitor. FFP is administered intravenously. FFP is to be ABO compatible with the recipient’s red cells.

Research and development in the field of fresh frozen plasma fuels market growth. For instance, as per the article published in 2020 under the title ‘Recent advances in the use of fresh frozen plasma, cryoprecipitate, immunoglobulins, and clotting factors for transfusion support in patients with hematologic disease’, the use of plasma and cryoprecipitates is increasing in the treatment of coagulopathies like disseminated intravascular coagulation (DIC), which affect many plasma proteins, as well as liver disease, which affects fewer plasma proteins. These conditions are becoming more common because there are no effective treatments for any of these conditions. Furthermore, as per the article published in 2021 under the title ‘Outcomes of Patients Who Undergo Transfusion of Fresh Frozen Plasma: A Prospective, Observational, Multicentre Cohort Study in Hiroshima, Japan’, FFP has been transfused appropriately in at least 63.8% of cases and it is important to promote appropriate use of FFP so as not to waste blood resources.

Because of the aforementioned factors, fresh frozen plasma (FFP) is anticipated to face growth in the rare hemophilia factors market over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

The major factors driving the growth of the rare hemophilia factors market in the region include the therapeutic advances in hemophilia, which led to a wave of new Food and Drug Administration-approved agents and increasing awareness about technologically advanced products, increasing prevalence of hemophilia, and the presence of a huge patient pool.

According to the World Federation of Hemophilia 2020 report, there were about 14,816 patients with hemophilia (Hemophilia A affected 11,790 people and Hemophilia B affected with 3,026 people) in the United States in 2020. In Canada a total of 4,709 people were affected with hemophilia, ‘Hemophilia A’ affected 3,223 people and ‘Hemophilia B’ affected 701 people. The high prevalence of hemophilia cases in these regions is expected to drive the growth of the market in this region due to the higher adoption of therapies for hemophilia.

Increased awareness regarding the importance of bleeding disorders fuels market growth. For instance, each March, National Hemophilia Foundation provides awareness of inheritable blood and bleeding disorders during Bleeding Disorders Awareness Month. This month patients and families with hemophilia, von Willebrand disease, rare factor disorders, and more, share their lives, stories, struggles, and successes.

Hence as per the factors mentioned above, North America is expected to witness growth in the rare hemophilia factors market over the forecast period.

Competitive Landscape

The global Rare Hemophilia Factors market is moderately competitive and consists of a number of major players. The companies like Baxter Healthcare, Bayer Healthcare, Bio Products Laboratory Ltd., Biogen, CSL Behring, Novo Nordisk, Pfizer, Inc., Takeda Pharmaceutical Co. Ltd., among others, hold the substantial market share in the Rare Hemophilia Factors market.

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