Bleeding Disorder Treatment Market to Witness Considerable Upsurge During 2017-2025
Bleeding disorder is a medical condition characterized by the improper functioning of blood clotting process called as coagulation. Body’s coagulation system is unable to form blood clots at the site of injury, at incisions made during surgery, trauma or menstruation which results in moderate to high levels of blood loss. Most of bleeding disorders are inherited. It is also acquired with some liver diseases, side effects of certain medications, low red blood cell count, and vitamin K deficiency. There are three main types of this condition: hemophilia, clotting factor deficiency, and Von Willebrand Disease (VWD). Treatment of bleeding disorder depends on the severity and type of disorder. Various treatment options are available for bleeding disorder such as replacement therapies which include clotting factor replacement, fresh frozen plasma transfusion, platelet transfusion, iron supplementation, and medication treatments.
Most of the bleeding disorders are inherited and are not completely curable. However, various treatments are available to control the symptoms. The global bleeding disorder market is expected to be driven by the increasing number of diagnosed patients with bleeding disorders across the globe, awareness about bleeding disorder among global population, and government initiatives in developed countries toward the establishment of wide network of diagnosis and treatment centers for bleeding disorders. Advancement in technology pertaining to research and development of new drugs and therapies for bleeding disorders is projected to fuel the growth of the bleeding disorder treatment market. The key challenges in growth of this market are lack of access to adequate treatment owing to high cost of medication and scarcity in availability of specialized health care services. Additionally, lack of availability of skilled professionals in underdeveloped and developing countries and limited health care resources hamper the growth of the market.
The global bleeding disorder treatment market has been segmented based on type of disorder, type of treatment, and region. There are three main types of bleeding disorders: hemophilia, clotting factor deficiency, and Von Willebrand Disease (VWD). Hemophilia is of two types: hemophilia A (caused due to factor VIII deficiency) and hemophilia B (caused due to factor IX deficiency). Clotting factor deficiency is mostly an acquired condition which involves deficiency or malfunctioning of one or more blood clotting proteins. Von Willebrand Disease is the most common inherited bleeding disorder occurred due to deficiency of Von Willebrand blood clotting protein. Treatments for bleeding disorders vary based on type and severity of disorder. These treatments are replacement therapies and medication treatments. Replacement therapies include clotting factor replacement therapy, fresh frozen plasma transfusion therapy, and platelet transfusion therapy. Medication treatment includes use of desmopressin (DDAVP), antifibrinolytic medicines, and iron supplementation.
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In terms of region, the global bleeding disorder treatment market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to dominate the market owing to affordability and accessibility to health care facilities and increasing awareness about disorders through government and private institutional campaigns. According to the Hemophilia Federation of America, over 20,000 people are affected with hemophilia and 1% of population is suffering with Von Willebrand Disease (VWD). Asia Pacific is expected to witness exponential growth during the forecast period owing to emerging economies such as India and China.
Key players in the global bleeding disorder treatment are Novo Nordisk, Bayer AG, Baxter International Inc., Alnylam Pharmaceuticals, Inc., Pfizer, Inc., Xenetic Biosciences, Inc., Bristol-Myers Squibb Company, Sanofi, Amgen, Inc., Janssen Global Services, LLC, and Bioverativ, Inc., among others. Most companies have made significant investments in R&D for development of new drugs for bleeding disorder treatment which are in different stages of pipeline process.
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