Global factor VIII deficiency treatment MarketSize and Trends

Global factor VIII deficiency treatment market is estimated to be valued at US$ 2,520.0 million in 2023 and is expected to exhibit a CAGR of 5.1% during the forecast period (2023-2030). Increase in product launches by key market players is expected to drive market growth over the forecast period. Moreover, an increase in the prevalence of hemophilia is also expected to drive market growth.

Global Factor VIII Deficiency Treatment Market- Driver

Increase in the research and development activities by key market players

Increase in the research and development activities by key market players for the treatment of hemophilia is expected to drive market growth over the forecast period. For instance, in December 2022, Pfizer Inc., a U.S.-based multinational biopharmaceutical company, announced positive top-line results from the Phase 3 BENEGENE-2 study evaluating fidanacogene elaparvovec, an investigational gene therapy, for the treatment of adult males with moderately severe to severe hemophilia B.

An increase in funding by non-government organizations

Increase in the initiatives by various government and non-government organizations for providing funding for hemophilia research and to develop novel treatment solutions is expected to propel the Global factor VIII deficiency treatment market growth for the forecast period. For instance, in September 2022, National Hemophilia Foundation, a U.S.-based non-government organization, announced that they have launched Pathway to Cures (P2C), a new venture philanthropy investment fund, under which the organization grants US$ 3.5 million in funding for research on blood-related disorders

Figure 2. Global Factor VIII Deficiency Treatment Market Share (%), by Region, 2023