The global Hemophilia B drugs market size is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Although hemophilia B is a chronic condition, its effects can be greatly reduced with proper treatment and management. The condition can be defined as an inherited bleeding disorder, which causes poor blood clotting and exaggerated bleeding due to ‘clotting factor’ deficiency. Occurrence rate is higher in males than in females. Recombinant coagulation factor concentrate is the most common treatment for hemophilia B. Increased prevalence of the disease has fueled the demand for various hemophilia B treatment modules that are currently available.
Rise in several government initiatives will augment the industry growth over the projection period. Organization including the World Hemophilia Organization along with governments of several countries carry out awareness and diagnosis programs. Government efforts to enhance public health and treat underprivileged people will result in boosting the hemophilia treatment market growth in the near future. Favourable research and development in the field of biotechnology for clotting factors, increasing medical tourism, and the increasing campaigns and supportive government initiatives for creating awareness about Hemophilia drugs are projected to drive the market growth as this is likely to drive the development of new treatment approach in the global hemophilia market over the forecast years. Availability of limited treatment therapy options and the growing burden on the regulatory bodies towards its treatment results in increasing R&D efforts. In addition, rising awareness campaigns and supportive initiatives plan by the government to commence early screening of neonates, which is expected to boost the requirement of diagnostic tools related to hemophilia B.