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Hemophilia Therapeutics Market Segmented By types such as hemophilia A and hemophilia B having drugs such as Desmopressin, Octocogalfa, Nonacogalfa, Others
Hemophilia is a rare, inherited disorder in which blood doesn’t clot normally due to the lack of sufficient blood clotting factor. Clotting factor is a protein required for blood clotting to occur normally. These proteins work with platelets i.e. small blood cell fragments that form in the bone marrow, to help the blood clot. Hemophilia is passed from parents to children through genes.
There are several types of hemophilia, such as, hemophilia A, hemophilia B and hemophilia C. Hemophilia A is the most common type of the disorder and is caused due to insufficient clotting factor VIII, whereas hemophilia B is caused due to the deficiency of clotting factor IX. Moreover, hemophilia C signs and symptoms are mild and are caused by insufficient clotting factor XI. Hemophilia A is four times more common than hemophilia B, and more than half of the patients with hemophilia A have a severe form of hemophilia.
According to the U.S. Centers for Disease Control and Prevention, hemophilia occurs in approximately one in 5,000 live births. Painful prolonged headache, sudden pain, swelling and warmth in large joints, bleeding from an injury, double vision, neck pain, extreme fatigue, and repeated vomiting are some of the signs and symptoms of hemophilia. Damage to joints, infection, adverse reaction to clotting factor treatment, and deep internal bleeding are among the complications related to hemophilia.
The disorder is diagnosed through a blood test showing blood clot deficiency. There is no cure for hemophilia, although therapies to stop bleeding depend upon the type of hemophilia. In mild hemophilia A, slow injection of the hormone desmopressin (DDAVP) - the synthetic version of vasopressin - stimulates the release of more clotting factor to stop bleeding.
Moreover, in moderate to severe hemophilia or hemophilia B recombinant blood clotting factor or clotting factor derived from donated human blood is infused to cease bleeding. Patients with severe hemophilia are treated with the help of a routine treatment regimen, called prophylaxis, so as to maintain clotting factor levels in their bloodstream.
North America dominates the global market for hemophilia therapeutics due to the high rate of awareness about hemophilia treatment in the region. Asia Pacific is expected to show high growth rates over the next five years in the global hemophilia therapeutics market, with China and India being the fastest-growing markets in the Asia-Pacific region.
The key driving forces for the hemophilia therapeutics market in developing countries are: A large pool of patients, increasing medical tourism, heightened awareness regarding overall healthcare, improving healthcare infrastructure, and augmented healthcare expenditure in the region.
Key factors driving the growth of the global hemophilia therapeutics market are: Development of novel coagulating factors, improving healthcare infrastructure in developing countries, increasing healthcare spending, expanding medical tourism in developing countries, and technological advancements in hemophilia drug innovation. However, the lack of awareness about hemophilia, and high cost of treatment, act as major restraints for the growth of the global hemophilia therapeutics market.
Gene therapy and increasing approval of drugs for the treatment of hemophilia are poised to create opportunities for the global hemophilia therapeutics market.
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