by Surge in Government Initiatives and Awareness Pertaining to Von Willebrand Disease Treatment to Aid Market Growth
Although the von Willebrand disease is relatively rare, it is one of the most common bleeding disorders. Diagnosis and von Willebrand diseases treatment around the world continue to vary due to which, several key players operating in the current von Willebrand disease treatment market landscape are increasingly seeking opportunities to collaborate with other players involved, and redefine current norms and guidelines pertaining to the von Willebrand diseases treatment. Several major government and private sector organizations are forging strategic alliances to increase efficacy and success rate of existing and upcoming treatments.
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Clinical guidelines laid down by the World Federation of Hemophilia (WFH) are recognized worldwide and implemented by healthcare providers. Although the guidelines issued by the WFH are largely relied upon, efforts are being made to maintain state-of-the-art guidelines for von Willebrand disease. Research and development activities are expected to play a major role in boosting the overall prospects of the global von Willebrand disease treatment market during the forecast period, and also pave the path for new therapies and diagnostics framework. Players operating in the current von Willebrand disease treatment market are projected to focus on drug development, refine existing therapies, and gain approval from the FDA for their advancements.
At the back of these factors, the global von Willebrand disease treatment market is expected to attain a market value of ~US$ 900 Mn by the end of 2030. In addition, increasing support from governments, rise in government initiatives, and surge in demand for recombinant therapies are factors that are likely to aid the growth of the market for von Willebrand disease treatment during the assessment period.
Efforts to Standardize von Willebrand Disease Treatment Worldwide Likely to Increase Collaborations
While research and development activities are likely to gain considerable momentum in the upcoming years, collaborations between regulatory bodies around the world are projected to witness considerable growth as efforts are in full swing to standardize the diagnostics and von Willebrand disease treatment worldwide. Collaborations and joint ventures are also on the rise, particularly to streamline drug development and curate clinical guidelines. For instance, the American Society of Hematology (ASH), the National Hemophilia Foundation (NHF), and the International Society on Thrombosis and Haemostasis (ISTH) entered a collaboration with each other to develop clinical guidelines due to the glaring differences in diagnosis and treatment practices of von Willebrand disease worldwide. As such, collaborations continue to rise across the von Willebrand disease treatment market, the quality and efficacy of von Willebrand disease treatment is likely to grow in the forthcoming decade– a major factor that is expected to accelerate the growth of the von Willebrand disease treatment market.
Advent of New Therapies for von Willebrand Disease Likely to Boost Market Growth
Research and development activities are set to play an important role in augmenting the growth of the global von Willebrand disease treatment market during the assessment period. The entry of new therapies and von Willebrand disease treatment, as a result of research programs and initiatives, is expected to provide a considerable boost to the global von Willebrand disease treatment market. Majorly, the management of von Willebrand disease is mainly based on the dual correction of primary hemostasis defect caused due to inherited deficiency of von Willebrand factor (VWF) and the secondary defect factor VIII coagulant activity. At present, new therapies are aimed toward addressing primary deficiency in the von Willebrand disease. Considerable research is being carried out to evaluate the efficacy of new products in different clinical situations. In addition, scientists and researchers are also focusing on testing the efficacy of new therapies and products in unexplored situations, including long-term use of prophylaxis, use in children, and during recurrent gastrointestinal bleeding.
Market Growth to Remain Steady amid COVID-19 Pandemic
The ongoing COVID-19 pandemic is expected to have a short-term impact on the overall growth of the global von Willebrand disease treatment market. Although the sales of medication and adoption of various therapies could see a slight dip due to the COVID-19 situation, research and development activities are expected to continue in full swing across the von Willebrand disease treatment market. Several research institutes around the world are increasingly assessing the relationship between von Willebrand disease and COVID-19 due to which, new areas pertaining to von Willebrand disease treatment are being explored. While drug development and research activities are likely to remain unaffected, the number of clinical tests and procedures could potentially witness a slight dip in 2020.
Analysts’ Viewpoint
The global von Willebrand disease treatment market is expected to expand at a healthy CAGR of ~6% during the forecast period. The market growth is largely driven by factors, including increasing collaborations and partnerships between top-tier research institutes and regulatory bodies, entry of new von Willebrand disease therapies, and growing awareness related to von Willebrand disease due to a surge in the number of government initiatives and awareness programs. While research and development activities are set to play an imperative role in the expansion of the von Willebrand disease treatment market, other factors that are likely to influence the market growth include rise in demand for recombinant therapies and strong product pipeline.
Von Willebrand Disease Treatment Market: Overview
Von Willebrand disease is an inherited bleeding disorder that is caused by deficiency or dysfunction of von Willebrand factor (VWF). VWF is a plasma protein that mediates the initial adhesion of platelets at sites of vascular injury. This protein also binds to clotting factor VIII (FVIII) in the circulation and stabilizes it.
Symptoms of von Willebrand disease include prolonged bleeding from skin lacerations, bleeding from nose and gums, and menorrhagia
The global von Willebrand disease treatment market has expanded significantly in the last decade due to rise in the number of patient assistance programs and promising drug pipeline & approvals
Different types of therapeutics have been utilized in the treatment of von Willebrand disease, including desmopressin, clot-stabilizing medications, replacement therapies, contraceptives, and others. Desmopressin is extensively used in the treatment of von Willebrand disease.
Von Willebrand Disease Treatment Market Drivers
Several companies, associations, and organizations are introducing different patient assistance programs for those who have been affected with von Willebrand disease or other bleeding disorders. These patient assistance programs have impacted the von Willebrand disease treatment in a positive way in terms of increase in awareness about the disease, diagnosis, and treatment. This, in turn, has fueled the global von Willebrand disease treatment market. For instance, in June 2020, Octapharma AG partnered with Domedica to develop the WiCare program in order to provide home support to patients suffering from von Willebrand disease (vWD).
Rich product pipeline and recent approval of drugs to treat von Willebrand disease are expected to drive the global von Willebrand disease market during the forecast period. In September 2018, Shire plc (now Takeda) received marketing authorization from the European Union for Veyvondi for adults with von Willebrand disease.
Market Segmentation: Von Willebrand Disease Treatment Market
Based on disease type, the global von Willebrand disease treatment market has been divided into type 1 von Willebrand disease, type 2 von Willebrand disease, type 3 von Willebrand disease, and acquired von Willebrand disease. The type 1 von Willebrand disease segment is likely to dominate the global von Willebrand disease treatment market during the forecast period.
In terms of drug, the global von Willebrand disease treatment market has been bifurcated into desmopressin, clot-stabilizing medications, replacement therapies, contraceptives, and others
In terms of route of administration, the global von Willebrand disease treatment market has been categorized into oral, injection, and others
In terms of gender, the global von Willebrand disease treatment market has been categorized into men and women
In terms of distribution channel, the global von Willebrand disease market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the global von Willebrand disease market, in terms of revenue, in 2019.
Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The report provides current and expected revenue (US$ Mn) for each of these segments from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.
Regional Overview: Von Willebrand Disease Treatment Market
In terms of region, the global von Willebrand disease treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
The current and expected market value (US$ Mn) of these regional markets and their major countries have been provided in the report from 2018 to 2030, with their CAGRs from 2020 to 2030
The study also offers a list of recommendations, highlights, and useful insights of the global von Willebrand disease treatment market, which would help new companies willing to enter the market and existing companies to increase market shares, and help in the decision-making process
Major Players
The von Willebrand disease treatment market report concludes with the company profiles section, which includes key information about major players in the global von Willebrand disease treatment market
Leading players analyzed in the von Willebrand disease treatment market report include
- Octapharma AG
- Grifols, S.A.
- Shire plc
- Bayer AG
- CSL Behring
- Pfizer, Inc.
- Akorn, Inc.
- Ferring B.V.
Each of these players has been profiled in the von Willebrand disease treatment market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in Global Von Willebrand Disease Treatment Market Report
- What is the sales/revenue generated by von Willebrand disease treatment across all regions during the forecast period?
- What are the opportunities in the global von Willebrand disease treatment market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which regional market is set to expand at the fastest CAGR during the forecast period?
- Which disease type segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
- What are the market positions of different companies operating in the global market?
Von Willebrand Disease Treatment Market – Segmentation
Disease Type
- Type 1 von Willebrand Disease
- Type 2 von Willebrand Disease
- Type 3 von Willebrand Disease
- Acquired von Willebrand Disease
Drug
- Desmopressin
- Clot-stabilizing Medications
- Replacement Therapies
- Contraceptives
- Others
Route of Administration
- Oral
- Injection
- Others
Gender
- Men
- Women
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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