Hematology Drugs Market Characteristics
The hematology drugs market consists of sales of hematology drugs and related services by entities (organizations, sole traders and partnerships) that produce hematology drugs to treat diseases such as genetic disorders, anemia, other related diseases. This industry includes establishments that produce blood products such as red blood cells, white blood cells, platelets, and fresh frozen plasma. It also consists of establishments which produce of anemia and other blood disorder drugs to treat anemia, hemophilia and blood clots.
Competitive Landscape of the Hematology Drugs Market
Major players in the global Hematology drugs market include Novo Nordisk A/S, Shire Plc, Bayer AG, Daiichi Sankyo Company, Biogen Inc
Hematology Drugs Market Size
The hematology drugs market size is expected to reach $50 billion by 2022, significantly growing at a CAGR of around 6.5% during the forecast period. The growth in the Hematology drugs market is due to increase in unhealthy lifestyle leading to anemia and coagulation disorders, along with increased longevity and the launch of pipeline drugs is set to drive the market for haematology drugs.
However, the market for Hematology drugs is expected to face certain restraints from several factors such as increasing government regulations and shifting trends towards ayurvedic treatment.
Hematology Drugs Market Segmentation
The global hematology drugs market is further segmented based on type and geography.
By Type - The hematology drugs market is segmented into blood products, anemia and other blood disorder drugs among these segments, the blood products market accounts for the largest share in the global Hematology drugs market.
By Geography - The global hematology drugs is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global haematology drugs market.
Trends in the Hematology Drugs Market
The increase in the number of drug approvals for hemophilia by the regulatory bodies such as FDA in the US is an emerging trend in the market. For instance, in June 2017, Novo Nordisk received FDA approval for its Rebinyn (Coagulation Factor IX (Recombinant), GlycoPEGylated) drug that is used in the treatment of haemophilia B. Over the last 17 years, there were no new drug approvals for the treatment of haemophilia. However, there has been an uptake in the approval of new drugs for the treatment of haemophilia. From 2014 to 2017, seven new drugs have been approved by the FDA for treating haemophilia A and B. Increasing number of new FDA approved drugs aids in management of hemophilics and improves their Quality of Life (QoL).
Potential Opportunities in the Hematology Drugs Market
The growth during the historic period can be mainly attributed to increase in the global old age population who are more likely to suffer from blood disorder diseases such as anemia and hemophilia the scope and potential for the global haematology drugs market is expected to significantly rise in the forecast period.