Recombinant Plasma Protein Therapeutics Market
Posted by Devanand on May 20th, 2021
Transparency Market Research (TMR) has published a new report titled, “Recombinant Plasma Protein Therapeutics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global recombinant plasma protein therapeutics market was valued at US$ 8.2 Bn in 2017. It is anticipated expand at a CAGR of 8.6% from 2018 to 2026. Replacement of plasma derived proteins by recombinant plasma products, increase in the number of products launched, and rise in the demand for novel therapies of hemophilia treatment are anticipated to drive the market.
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Rising Number of Regulatory Approvals to Drive Market
There has been an increase in the number of regulatory approvals in the last three years that have increased the availability of various options for patients with rare diseases such as hemophilia and other bleeding disorders. These approvals enabled companies to expand their product portfolios and gain competitive advantage. For instance, in September 2017, Ministry of Health, Labour and Welfare, Japan, approved CSL Behrings AFSTYLA, a recombinant factor VIII indicated for the treatment of hemophilia A. AFSTYLA has been also approved in the U.S., Canada, and Switzerland. In April 2018, Shire received Food and Drug Administration (FDA) approval for VONVENDI recombinant von Willebrand factor, indicated for perioperative management of bleeding in patients with von Willebrand disease (VWD). In July 2018, Bayer AG announced the approval for Kovaltry, recombinant factor VIII from the regulatory authorities in China, indicated for the treatment of hemophilia A.
Asia Pacific offering Numerous Growth Opportunities to the Market
In Asia Pacific, increase in the number of cases of rare hematology disorders, rise in adoption of recombinant DNA technology for therapeutic use, and surge in R&D expenditure by pharmaceutical & biotechnology companies are anticipated to drive the market. Additionally, the demand for third-generation recombinant coagulation factors is increasing in Japan and China, which further creates growth opportunities in the market. Government and non-government organizations are presently taking efforts to increase awareness about hemophilia A and hemophilia B, helping the general population to understand the cases, diagnosis, and treatment methods for such rare diseases. Countries such as China, Japan, Australia, and New Zealand are currently switching to recombinant plasma therapies as standard for hemophilia A treatment, with regulatory authorities. According to Hemophilia Foundation Australia, 80% of patients with bleeding disorders are treated with recombinant coagulation factors. Therefore, increase in the use of recombinant therapies for hemophilia treatment is expected to drive the market during the forecast period.
Strategic Approaches and Increasing Focus on R&D by Market Players
The report also provides profiles of leading players operating in the global recombinant plasma protein therapeutics market. These include CSL Limited, Shire (Takeda Pharmaceutical Company Limited), Octapharma, Novo Nordisk A/S, Bayer AG, Bioverativ Therapeutics, Inc. (Sanofi), Aptevo Therapeutics, Pharming Group NV, and Pfizer Inc.
New product launch, acquisition, geographical expansion, collaborations, and distribution agreements enable these companies to expand their presence in the global market. In January 2019, Shire was acquired by Takeda Pharmaceutical Company Limited, a pharmaceutical company based in Japan. With this acquisition, Takeda Pharmaceutical Company Limited is expected to strengthen its geographical presence. In January 2018, Sanofi, a leading pharmaceutical company, acquired Bioverativ Therapeutics Inc., which operated as a part of Sanofi Genzyme. Other market players have also undertaken numerous initiatives to expand their business in emerging markets. Leading market players are also focusing on increasing their customer base in countries in Asia Pacific such as China, Japan, and Australia. Market players are also supporting several campaigns for increasing awareness about hematological disorders and availability of treatment options such as recombinant plasma proteins and the advantages offered by these products.
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About the AuthorDevanand
Joined: April 9th, 2021
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