Von Willebrand Disease Treatment Market: Introduction
According to the report, the global von Willebrand disease treatment market was valued at US$ 471.1 Mn in 2019 and is projected to expand at a CAGR of ~6% from 2024 to 2030. Von Willebrand disease is an inherited bleeding disorder caused due to deficiency or dysfunction of von Willebrand factor (VWF). Moreover, genetic mutation is one of the causes of von Willebrand disease. Defects or deficiency of VWF can cause bleeding by impairing platelet adhesion or by reducing the concentration of FVIII. Various treatment options are available for the treatment of von Willebrand disease, including desmopressin, clot-stabilizing medications, replacement therapies, and contraceptives. The expansion of the global von Willebrand disease treatment market can be ascribed to an increase in number of patient assistance programs and the demand for recombinant therapies.
North America dominated the global von Willebrand disease treatment market in 2019. This trend is anticipated to continue during the forecast period. A highly structured healthcare industry and increase in incidence of disease are likely to boost the market in North America. Furthermore, the presence of major market players, who focusing on design and development of new treatment option for treatment of von Willebrand disease, is likely to drive the market in North America. Asia Pacific is likely to be a highly lucrative region of the global von Willebrand disease treatment market. It is projected to expand at a rapid pace during the forecast period.
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Government Initiatives and Rise in Demand for Recombinant Therapies to Drive Global Von Willebrand Disease Treatment Market
Von Willebrand disease is a rare disease and needs government support in terms of research funding, treatment centers, and spreading awareness among people about the disease. Hence, governments of several countries and government organizations have turned focus toward this bleeding disorder. Recombinant VWF (genetically engineered von Willebrand factor product) is gaining popularity due to advantages over replacement therapy such as less chance of allergic reaction, viral infection, and less risk of disease transmission. The increase in use of recombinant therapy is projected to boost the global von Willebrand disease treatment market. Strong product pipeline and increase in the number of patient assistance programs are also anticipated to propel the global von Willebrand disease treatment market during the forecast period.
Type 1 Von Willebrand Disease to Dominate Global 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 dominated the global von Willebrand disease treatment market in 2019. This trend is projected to continue during the forecast period. The rise in the number of VWD cases, technological advancements, and new product launches contributed to the significant share held by the segment in 2019. Moreover, increase in patient pool for type 1 disease-Type 1 VWD accounts for 60% to 80% of the patients with VWD-is likely to drive the segment.
The type 2 von Willebrand disease segment was followed by the type 1 von Willebrand disease segment, in terms of market share, in 2019. Increasing patient pool for different type 2 VWD, i.e. type 2A, type 2B, type 2M, and type 2N, is likely to drive the segment.
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Desmopressin to be Highly Lucrative Segment of Von Willebrand Disease Treatment Market
In terms of drug, the global von Willebrand disease treatment market has been segregated into desmopressin, clot-stabilizing medications, replacement therapies, contraceptives, and others. The desmopressin segment accounted for a prominent share of the global von Willebrand disease treatment market in 2019, owing to high effectiveness in the treatment of the disease. Desmopressin is first line of treatment for von Willebrand disease. Increasing use of desmopressin in the treatment of VWD is likely to drive the segment.
Injection Segment Accounted for Major Share of Global Market
In terms of route of administration, the global von Willebrand disease treatment market has been categorized into oral, injection, and others. The injection segment dominated the global von Willebrand disease treatment market, in terms of revenue, in 2019. The trend is expected to continue during the forecast period. Factors such as easy, convenient route of administration of drugs, and availability of most treatment products in injection form are likely to drive the injection segment.
Women to be Key Lucrative Segment of Von Willebrand Disease Treatment Market
In terms of gender, the global von Willebrand disease treatment market has been categorized into men and women. The women segment dominated the global von Willebrand disease treatment market, in terms of revenue, in 2019. Increasing incidence of bleeding disorders such as VWD and menorrhagia in women is likely to fuel the segment.
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Hospital Pharmacies to be Major Distribution Market
In terms of distribution channel, the global von Willebrand disease treatment market has been classified into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment led the global von Willebrand disease treatment market in terms of revenue in 2019. The trend is expected to continue during the forecast period. Rapid increase in the number of hospitals and a wide range of services available in multispecialty hospitals are likely to boost the segment during the forecast period. The retail pharmacies segment is witnessing expansion, as medicines for von Willebrand disorders are advised for longer period, which prompts patients to prefer retail stores instead of a visit to the hospitals.
North America to Dominate Von Willebrand Disease Treatment Market
In terms of region, the global von Willebrand disease treatment market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global von Willebrand disease treatment market in 2019. It was followed by Europe. Significant share held by North America can be ascribed to the presence of players with significant research and development activities in order to develop new products for the treatment VWD. Moreover, a rise in prevalence of VWD is anticipated to fuel the von Willebrand diseases treatment market in the region. According to the National Hemophilia Foundation, around 1% of the U.S. population suffers from VWD.
The von Willebrand disease treatment market in Asia Pacific is anticipated to expand at a rapid pace from 2024 to 2030. The increase in opportunities to launch new products and a surge in the demand for new treatment options are key factors that are expected to boost the von Willebrand disease treatment market in Asia Pacific.
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Competition Landscape of Von Willebrand Disease Treatment Market
The global von Willebrand disease treatment market is fragmented in terms of number of players. Key players operating in the global market include Octapharma AG, Grifols, S.A., Shire plc, Bayer AG, CSL Behring, Pfizer, Inc., Akorn, Inc., and Ferring B.V.
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