Sturge-Weber Syndrome Expected To Exhibit a Steady Growth Over 2023

Pune, India, June, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global Sturge-Weber Syndrome Market Research Report.

Report Summary:

The rarity of occurrence of the sturge-weber syndrome had created significant delays in the knowledge of the disease and research into its treatment options. However, the existence of an increased patient pool presently has created an added impetus for the development of the market with a rise in the research conducted towards understanding the syndrome better. The rapidly developing pace of the market is attributed to the growth in the number of contenders in the market. The market is estimated to observe a CAGR of 5% percent over the forecast period from and is expected to achieve revenues worth USD 1,060.21 million by 2023.

The growth of the market is buoyed by developments in laser therapy that offer abundant opportunities for the development of the sturge-weber syndrome market. The rising inclination of non-invasive treatments has increased the demand for the laser therapy treatment all over the globe for the treatment of this particular condition. Factors such as new health services, new medical technology, new organizational structures, changes in health policies, innovations in drug development, and better access to health services are expected to develop the market further in the forecast period. The disease has gained increased attention in recent times which has led to the speedy development of technology in relation to the treatment of diseases and active government initiatives towards healthcare. The Asia Pacific region is expected to grow at an exponential pace due to the existence of active government efforts towards health care in countries such as China and India. Moreover, these nations are also showing an increased willingness to adapt to new treatments from developing nations to increase the lifespans of patients suffering from the condition.

High healthcare expenditure, well-developed technology, and the incidence of top players in advanced regions such as Americas are instrumental in maintaining the sales at a global level in the market. The rising prevalence of glaucoma and epilepsy is expected to lead to an increase in research and development funding for rare diseases. However, the side effects of therapeutic drugs are the main concern that is impeding the market’s growth.

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Segmental Analysis

The sturge-weber syndrome market is segmented on the basis of diagnosis, type, treatment, and end-user globally. The segmentation of the market on the basis of type comprises of Type 2, Type 1, and Type 3. The type 1 segment has accounted for the major market share in 2017. The segment is therefore anticipated to observe a CAGR of 5 percent to achieve a market share of USD 1060.2 million by 2023. The diagnosis based segment of the market comprises of skull radiographycomputed tomography (CT) scan, electroencephalogram (EEG) and magnetic resonance imaging (MRI). The MRI segment has controlled the overall market share in 2017, with USD 190.2 million and is expected to touch 246.6 million by 2023. The treatment basis of segmentation of the market includes laser therapy, medication, surgical procedures, and others. The medication segment is additionally segmented into antiepileptic, beta-antagonist eye drops, adrenergic eye drops, carbonic anhydrase inhibitors, miotic eye drops and others. The surgical procedure segment is further segmented into hemispherectomy, vagal nerve stimulation (VNS), focal cortical resection, corpus callosotomy, filtration surgery, trabeculectomy, cyclocryotherapy, and others. The end user based segmentation of the market comprises of hospital, diagnostic centers, clinics, and others. The hospital and clinics segment has the main share of the market and is estimated to achieve a CAGR of 5.2% during the forecast period.

Regional Analysis

The North American region holds the major portion of the struge-weber syndrome market led by the U.S. It is anticipated to be leading the market during the forecast period. In 2017, the North American region accounted for 29.57% share approximately of the global market and is anticipated to keep its position in the forecast period. The North American struge-weber syndrome market is motivated by numerous factors, such as increasing research funding directed to rare diseases, well-developed technology, increased healthcare expenditure, and the prevalence of significant players. Individuals in this region are more likely to favor quality healthcare that has led to a spike in healthcare expenditure. Several governments and private research associations are working to back research projects on rare diseases. However, the Asia Pacific region is a speedily emerging market owing to a growing number of emerging nations present in this region, for instance, nations such as China and India. These countries are increasing the growth of the healthcare domain. Additionally, the growing demand for prompt diagnosis, swiftly improving technology, and the incidence of a huge patient pool are expected to improve the progress of the market.

Competitive Analysis

The specialization of the products in the market has opened up new areas for development of the market. The premise for development is expected to exert a positive influence on the growth trajectory of the market. The competing entities in the market are expected to be positively swayed by the market trends prevalent in the market space.

The noteworthy players in the market include GlaxoSmithKline plc, Allergan, Syneron Medical Ltd., Medtronic, Novo Nordisk, Cyberonics, Inc., Valeant, Cutera, St Jude Medical, Inc., Pfizer, ZELTIQ Aesthetics, Inc., Novartis AG, Abbott Laboratories, and Shire.