Middle East and Turkey Hemophilia Treatment Market, By Product Type (Recombinant Coagulation Factor, Plasma Derived Coagulation Factor, Antifibrinolytic Agents, and Desmopressin), By Disease Indication (Hemophilia A, Hemophilia B, and Hemophilia C), and By Country (Turkey, Egypt, Israel, Saudi Arabia, UAE, and Rest of Middle East) is estimated to be valued at US$ 756.0 Million in 2023, exhibiting a CAGR of 4.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on the adoption of organic growth strategies such as product approval by regulatory authorities, in order to strengthen their market presence and expand their product portfolio in the Middle East and Turkey hemophilia treatment market. For instance, in March 2022, CSL Behring, a pharmaceutical company, announced that the European Medicines Agency (EMA) has accepted the Marketing Authorization Application (MAA) for etranacogene dezaparvovec (EtranaDez) under its accelerated assessment procedure. Etranacogene dezaparvovec is an investigational adeno-associated virus five (AAV5)-based gene therapy administered as a one-time treatment for hemophilia B patients with a severe bleeding phenotype.
Middle East and Turkey Hemophilia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a negative impact on the Middle East and Turkey hemophilia treatment market, owing to decrease inmanufacturing of Hemophillia drugs. For instance, according to an article published by the Best Practice & Research: Clinical Anesthesiology Journal, in November 2020, healthcare facilities all around the world were severely affected by the COVID-19 pandemic. Furthermore, the same source, stated that the economy, especially the healthcare manufacturing and service sectors were negatively impacted due to nationwide lockdowns during the COVID-19 pandemic. Thus, COIVD-19 disrupted the supply chain that resulted into shortage of raw material, and finished product shortage of drugs.
Middle East and Turkey Hemophilia Treatment Market- Key Developments
In August 2022, BioMarin Pharmaceutical Inc., a pharmaceutical company, announced that the European Commission (EC) has granted conditional marketing authorization (CMA) to ROCTAVIAN (valoctocogene roxaparvovec) gene therapy for the treatment of severe hemophilia A (congenital Factor VIII deficiency) in adult patients without a history of Factor VIII inhibitors and without detectable antibodies to adeno-associated virus serotype 5 (AAV5).
Browse 36 Market Data Tables and 38 Figures spread through 230 Pages and in-depth TOC on “Middle East And Turkey Hemophilia Treatment Market ”- Forecast to 2030 by Product Type (Recombinant Coagulation Factor, Plasma Derived Coagulation Factor, Antifibrinolytic Agents, and Desmopressin), by Disease Indication (Hemophilia A, Hemophilia B, and Hemophilia C), and by Country (Turkey, Egypt, Israel, Saudi Arabia, UAE, and Rest of Middle East)
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Key Takeaways of the Middle East And Turkey Hemophilia Treatment Market:
- Middle East and Turkey hemophilia treatment market is expected to exhibit a CAGR of 4.5% during the forecast period, owing to increasing awareness programmes by government. For instance, in June 2020, a regional online seminar was organized by UAE Hemophilia Group that included 19 prominent experts and specialists of Hematology. The online event’s main goal was to create awareness about bleeding disorder patients during the current Coronavirus (COVID-19) pandemic. The seminar was held during the Arab World’s celebration of International Hemophilia Day in cooperation with several partners including World Federation of Hemophilia, UAE Hemophilia Group , Kuwait Hemophilia Group and Saudi Society of Hemophilia, and the event was sponsored by Sobi Middle East.
- Among product type, recombinant coagulation factor segment is estimated to hold a dominant position in the Middle East and Turkey hemophilia treatment market over the forecast period, owing to increasing adoption of organic growth strategies such as product approval by regulatory authorities. For instance, in June 2022, The U.S. Food and Drug Administration (FDA) granted Breakthrough therapy designation to efanesoctocog alfa (BIVV001) for the treatment of people with hemophilia A, a rare and life-threatening bleeding disorder. Efanesoctocog alfa is a novel and investigational recombinant factor VIII therapy that is designed to extend protection from bleeds with once-weekly prophylactic dosing for people with hemophilia A.
- Among country, Turkey is expected to be the dominant region in the Middle East and Turkey hemophilia treatment market, owing to increasing usage of gene therapy for the treatment of hemophilia. For instance, in September 2021, Ege University Children Hospital, Clinic of Hematology, İzmir, Turkey, used Turkey's first gene therapy for hemophilia A patients.
- Major players operating in the Middle East and Turkey hemophilia treatment market include Takeda Pharmaceutical Company Limited., Sanofi S.A., Octapharma AG, Swedish Orphan Biovitrum AB, Baxter International Inc., Biogen Inc., Bayer AG, CSL Behring, Ferring B.V., Pfizer, Inc., Kedrion, Novo Nordisk A/S, Grifols S.A., Sangamo Therapeutics, Inc., and Spark Therapeutics, Inc.
