Proteins or enzymes that control bleeding are known as blood clotting factors. Blood clotting, also known as blood coagulation, is the process by which blood is converted into solid clots in the event of a wound or the breakdown of blood vessels.

Blood Clotting Factors Market Market Dynamics
The factors influencing the market growth are increasing approval of drugs for blood clotting is expected to drive the market.

The increasing approval of drugs for blood clotting is expected to drive the market growth in the forecast period

Reducing the frequency of or preventing bleeding episodes is an important part of haemophilia disease management. With recent drug approvals, patients with haemophilia A will have access to a new preventative treatment that has been shown to significantly reduce the number of bleeding episodes when combined with Factor VIII inhibitors.

For instance, on November 16th, 2017, Hemlibra (emicizumab-kxwh) was approved by the US Food and Drug Administration to prevent or reduce the frequency of bleeding episodes in adult and pediatric patients with haemophilia A. They have developed antibodies known as Factor VIII (FVIII) inhibitors. Furthermore, on April 2, 2020, Sevenfact (coagulation factor VIIa [recombinant]) was approved by the U.S. Food and Drug Administration (FDA) for the treatment and control of spontaneous bleeding episodes in people aged 12 and older who have haemophilia A or B with inhibitors. The French company Laboratoire Francais du Fractionnement et des Biotechnologies created Sevenfact, a bypassing agent (LFB). It promotes blood clotting by delivering an artificial, activated form of factor VII (FVII) to patients with haemophilia A or B. They have developed inhibitors to FVIII or FIX replacement therapies. Hence, increasing drug approvals for treating diseases related to blood clotting is expected to drive market growth.

Coagulation factor side effects are expected to hamper the market growth

Coagulation factor IX is used to treat or prevent bleeding in haemophilia B patients. This medication is not intended to treat people with haemophilia A factor VIII deficiency. The coagulation factor causes side effects, and some of the side effects are weight gain, swollen waist, hands, or lower legs, Appetite loss, Chills or fever, bleeding that persists after treatment if there is new or worsening bleeding, or Sudden numbness or weakness (especially on one side of the body), slurred speech, vision or balance problems, chest pain, coughing up blood, or pain, swelling, warmth, and redness in one or both legs are all symptoms of excessive blood clotting.

Hence, there are also chances of side effects associated with excessive blood clotting, which are expected to hamper the market.

COVID-19 Impact Analysis
The blood clotting factors market is expected to be highly impacted by COVID-19. For instance, according to HMS investigators at Massachusetts General Hospital, patients who are hospitalised with severe COVID-19 infections and high blood-clotting protein factor V are at an increased risk of serious injury from blood clots such as deep vein thrombosis or pulmonary embolism. Furthermore, patients with COVID-19 who are critically ill and have low levels of factor V appear to be at an increased risk of death from a coagulopathy that resembles disseminated intravascular coagulation (DIC), a devastating, often fatal, abnormality in which blood clots form in small vessels throughout the body, leading to an exhaustion of the clotting factors and proteins that control coagulation.

The researchers discovered factor V levels far above the normal reference range in a blood sample from a ventilated patient with COVID-19 in March 2020. A saddle pulmonary embolism, a potentially fatal blood clot that occurs at the junction of the left and right pulmonary arteries, developed later in the patient's life. Hence, with increasing COVID-19 cases, the global blood clotting factors market is expected to grow.

Blood Clotting Factors Market Segment Analysis
Based on product type, the Factor VIII segment is expected to dominate the market growth in the forecast period

The increasing cases of hemophilia A due to deficiency of clotting factor VIII is one of the major reasons dominating market growth. Hemophilia A is an X-linked recessive disorder caused due to a lack of functional plasma clotting factor VIII (FVIII), which can be inherited or develop spontaneously. The emergence of inhibitory alloantibodies to FVIII can significantly complicate the management of genetic cases. Autoantibodies to FVIII are rarely the cause of acquired hemophilia A. For instance, in 2018, according to the National Hemophilia Foundation's report, one in 10,000 people are born with hemophilia A due to clotting factor VIII deficiency, and one in 50,000 people are born with hemophilia B due to clotting factor IX deficiency. With the increasing number of hemophilia, A cases, the FDA drug approvals are also expected to increase, which is expected to drive the market growth of this segment.

For instance, on 26th January 2020, the Korean Ministry of Food and Drug Safety approved CSL Behring's Afstyla, a new preventative treatment for hemophilia A developed in Korea. The Ministry has approved the drug to treat children and adults with hemophilia A.

Blood Clotting Factors Market Geographical Analysis
North America region is expected to hold the largest market share in the global blood clotting factors market

The increasing prevalence of hemophilia A in this region is expected to dominate the market growth in this region. For instance, according to the CDC, in September 2018, 1 in every 5,000 male births in the United States was affected by Hemophilia A. According to the National Hemophilia Foundation's 2018 report, one in 10,000 people are born with hemophilia A due to clotting factor VIII deficiency, and one in 50,000 people are born with hemophilia B due to clotting factor IX deficiency.

Furthermore, an increase in drug approvals and increased awareness of rare diseases in the United States and Canada has resulted in many patients receiving treatment. For instance, Novo Nordisk received FDA approval in February for Turoctocog alfa pegol, also known as N8-GP (Esperoct), a long-acting factor VIII replacement treatment for adults and children with haemophilia A.

Blood Clotting Factors Market Competitive Landscape
The global blood clotting factors market is highly competitive with increasing FDA approvals, product launches, and company mergers. Some of the key players in the market are Shire Plc, Baxter International Inc., Grifols International SA, Roche AG, Bayer AG, Pfizer Inc., Novo Nordisk A/S, Octapharma AG, Biogen Idec.

Novo Nordisk

Overview: Novo Nordisk is a Danish multinational pharmaceutical company. It is headquartered in Bagsvrd, Denmark, with manufacturing facilities in eight countries and affiliates or offices in five. The company was founded in 1923.

Product Portfolio: The company’s product when compared to standard half-life factor VIII products, ESPEROCT is an extended half-life factor VIII molecule that provides a 1.6-fold half-life prolongation in adults/adolescents and a 1.9-fold half-life prolongation in children.

Key Development: On 19th February 2019, the FDA approved the Biologics License Application for Novo Nordisk’s ESPEROCT for the treatment of adults and children with haemophilia A.