As per the report, the size of the Hemophilia Management Market in North America was worth USD 1.90 billion in 2022 and estimated to be growing at a CAGR of 1.52%, to reach USD 2.05 billion by 2027. Hemophilia is a genetic disorder that impairs the body`s ability to control blood clotting.
The rising population with the growing incidences of hemophilia among the people in the North American region is majorly driving the North American hemophilia management market growth. This occurs due to a lack of sufficient blood-clotting proteins in the body which is also caused due to deficiency of factor VIII. The occurrence rate of this disease is more in males as compared to females. As the current number of males living in the United States with Hemophilia is expected to be between 30,000 and 33,000, its prevalence is 12 cases per 1 lakh males for hemophilia A and 3.7 cases per 1 lakh males for Hemophilia B.
Also, the technological advancements for developing new and effective treatments and devices for detecting curative agents are expected to uplift the market growth. On the other hand, the rising demand and use of prophylactic therapy to treat hemophilia increase the demand for hemophilia management. In addition, other factors such increase in the awareness among the people for the medications and treatment available in the market for treating hemophilia are expected to propel hemophilia management.
Furthermore, the increase in fundings and investments from government and non-government firms in research and development activities for developing effective drugs and treatment for treating hemophilia is increasing the demand for hemophilia management in the market. In addition, an increase in the initiatives for developing medical and health care awareness among the people in the region is increasing the growth of the North American hemophilia management market.
However, the high costs of the drugs and treatment procedures for hemophilia with the presence of alternative treatments and medications available in the market are hampering the market growth. Furthermore, the stringent government rules and regulations with strict approval policies also affect the market growth. In addition, the lack of awareness about the disease among the people, side effects and allergies associated with the treatment and the products, the limited access to the medications and the therapies are limiting the growth of hemophilia management in the market.
This research report on the North American hemophilia management market has been segmented and sub-segmented into the following categories:
Regionally, North America was the largest market for hemophilia management, accounting for a significant share in the global market in 2020. In North America, the United States is the largest market for hemophilia management due to high government support and the increasing number of hemophilia patients. Canada is estimated to be the fastest-growing region due to high growth potential due to the growing usage of available medication.
The U.S. is currently dominating the market in the North American region, and it is likely to continue its growth during the forecast period. The market growth is fuelled by an increase in the demand for prophylaxis treatment and other available treatments, the availability of effective therapies, and advanced infrastructure.
The Canadian market is forecasted to see a healthy growth rate during the forecast period due to increased initiatives and investment by government and non-government organizations in research and development activities to improve the efficacy of hemophilia treatments and increase public awareness.
KEY MARKET PLAYERS:
A few notable companies in the North American 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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