As per the report, the size of the Hemophilia Management Market in the Asia Pacific was worth USD 1038.16 million in 2022 and is estimated to be growing at a CAGR of 1.78%, worth USD 1133.90 million by 2027.
The demand for the Asia Pacific hemophilia management market is booming due to factors such as increased use of hemophilia prophylactic medication, rising prevalence of bleeding disorders and their severity, the discovery of novel coagulation factors, scientific innovations, the booming biotechnology industry, increased public awareness, and increased research and development focused on finding curative agents. Furthermore, leading pharmaceutical companies' increased investment in the R&D of innovative hemophilia therapies is propelling the market rapidly.
Furthermore, Roche Products India Pvt. Ltd released Emicizumab, a hemophilia A medication marketed as Hemlibra, in India in April 2019. Factor VIII inhibitors are approved as a preventive medication for minimizing the frequency of bleeding episodes in people with hemophilia A. Over the forecast period, Asia-Pacific is expected to increase at the fastest rate. The important effect of delivering drivers is the early diagnosis of diseases in countries like Japan, India, Indonesia, and Malaysia and increased per capita use of medicines for factor VIII and IX insufficiency. In addition, several government efforts will boost market growth during the forecast period.
One of the key growing challenges will be the high cost of hemophilia treatments. The high price of products is due to the manufacturers' considerable expenditure in R&D, production, and marketing of pharmaceuticals. High product costs are expensive for medium and lower-income families, limiting business growth. In addition, to some extent, significant side effects associated with plasma-derived products, as well as stringent regulatory regulations, are impeding the hemophilia management market's growth.
This research report on the APAC hemophilia management market has been segmented and sub-segmented into the following categories:
The Asia-Pacific region is estimated to be the fastest-growing region due to its high population base and increasing healthcare expenditure. Furthermore, due to rising favorable reimbursement policies for hemophilia management in China, Asia Pacific is expected to increase significantly throughout the forecast period. Moreover, the APAC region is likely to see considerable growth in the near future, owing to increased hemophilic patients and increased awareness of technologically advanced products in these countries. Furthermore, in APAC, demand for recombinant and plasma-derived products is expanding due to improved diagnostic techniques, increased preventative therapies, and growing medical research.
However, the hemophiliac drugs market in the Asia Pacific is expected to grow at the fastest rate during the forecast period due to regulatory approvals for novel therapeutics for hemophilia A in Australia and Japan, as well as increased funding from public and private players in India and China for the improvement of healthcare facilities. In addition, government efforts to improve public health and cure the poor will accelerate the growth of the hemophilia management market in the near future.
Over the forecast period, the Indian hemophilia treatment market is expected to develop at the fastest rate among all. Various government programs have aided in the development of required infrastructure and empowering healthcare providers and patients to self-administer treatment at home, thereby improving patients' quality of life. Over the period, recent technical developments, increased public awareness, new product launches, and government efforts will all help to boost corporate growth.
KEY MARKET PLAYERS:
Companies playing a notable role in the APAC hemophilia management market profiled in this report are Biogen, Baxter International Inc., Pfizer Inc., Bayer Pharma AG, Novo Nordisk A/S, Grifols International SA, CSL Behring, Octapharma, and Swedish Orphan Biovitrum AB.
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