Recombinant Coagulation Factors Market Forecast Estimated to Expand at a Robust CAGR by 2025
The advancement in technology that has endorsed manufacturing of recombinant proteins on a large scale industrial production for development of hemophilia and thrombosis treatments. Recombinant coagulation factors, as opposed to plasma-derived counterparts, consume a very low risk for transfer of infectious diseases and their use would eliminate the risk of infection from viruses such as the human immunodeficiency virus and hepatitis C. The advancement of recombinant coagulation factors has been a major importance in hemophilia care promising nearly complete safety of individuals from the risk of transmitted infections.
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Rising number of hemophilia patients across the world, growing prophylactic treatment, and increasing demand for diagnosis rates for prevention of bleeding are likely to fuel the growth of recombinant coagulation factors market. In addition, increasing research and development activities on recombinant factor VIII is projected to boost the growth of the recombinant coagulation factors market. However, high cost treatment of hemophilia care and low cost treatment from plasma coagulation factor available alternatives to recombinant coagulation factors are obstructing the growth of recombinant coagulation factors market. While the R&D pipeline of recombinant coagulation factors is growing, other methods are strongly developing in early clinical development which may become the real threat to the recombinant coagulation factors market.
The recombinant coagulation factors market can be segmented based on type, hemophilia type, end-user, and region. In terms of type, the market can be categorized into recombinant factor VIII, recombinant factor IXa, recombinant factor VIIa, and Von Willebrand factor. Recombinant factor VIIa or (rFVIIa) is available for treatment of people suffering from hemophilia with inhibitors who experience bleeding or require surgery. Recombinant or human plasma-derived factor IX products are used in the treatment and prevention of bleeding in patients with hemophilia B. Wide acceptance of recombinant coagulation factors throughout the developed world has considerably increased the supply of coagulation factor that concentrates and helped development of aggressive therapeutic interferences such as prophylaxis.
Based on hemophilia type, the global recombinant coagulation factors market can be segmented into hemophilia A and hemophilia B. Hemophilia A (factor VIII deficiency) results from a missing or deficient protein needed for blood clotting. People suffering from hemophilia B bleed longer than other people. Hemorrhages can occur externally, from dental procedures, minor cuts, or trauma or internally in joints and muscles. In terms of end-user, the market can be segmented into research organizations, hospitals, clinics, and academic institutes.
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The global recombinant coagulation factors market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market, followed by Europe. Increasing demand for treatment and rising patient awareness about different treatment options drive the market in North America. The recombinant coagulation factors market is growing owing to increasing population and rising demand for rapid diagnosis and better treatment for hemophilia globally. In addition, the global recombinant coagulation factors market is expected to grow at a high rate in the next few years. Increasing medical tourism in developing countries, rising investments by market players in Asia Pacific, especially in India and China, and growing awareness about hemophilia treatment are likely to drive the market in Asia Pacific during the forecast period.
Key players operating in the global recombinant coagulation factors market are Bayer, Wyeth, Baxter International, Inc., P?zer, Inc., Novo Nordisk, Octapharma AG, Emergent BioSolutions Inc., CSL Behring, and Biogen. Increasing competition among key players to develop new therapy for hemophilia is projected to drive the recombinant coagulation factors market.
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