Sturge Weber Syndrome Market Size was valued at USD 0.15 Billion in 2023. The Global Sturge Weber Syndrome industry is projected to grow from USD 0.16 Billion in 2024 to USD 0.26 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2024 - 2032).
With the support from major drivers such as the rising prevalence of glaucoma, epilepsy, the Sturge Weber Syndrome Market will rise to significant value in the studied forecast period. Sturge Weber syndrome is a congenital disorder. It is characterized by eye complications, port-wine stain birthmark, and others.
As per the Sturge Weber Syndrome Market Analysis by MRFR, it is estimated that North America will lead the market. However, the Asia-Pacific region is projected to record the fastest growth in the upcoming years. According to World Health Organisation (WHO), approximately 30 million people across the European Union countries were having a rare disease. As a result, the growth of the Sturge Weber Syndrome Market is evaluated to simultaneously increase in the forecast period.
In April 2022, Timber Pharmaceuticals received Fast Track designation from the FDA for TMB-001, a topical isotretinoin developed using the company's patented IPEG delivery system. This designation is specifically for the treatment of (XRI) and autosomal recessive congenital ichthyosis lamellar ichthyosis (ARCI-LI). Attaining Fast Track status is a notable accomplishment that indicates the existence of an unsatisfied need in the field of CI. During our critical Phase 3 ASCEND clinical trial, we will establish regular communication with the FDA in order to expedite therapeutic approval and improve patient access. According to the statement, CI is a collection of uncommon genetic abnormalities that result in dry, thickened, and scaly skin.
Individuals diagnosed with moderate to severe forms of cutaneous ichthyosis (CI), such as X-linked ichthyosis (XLRI) and autosomal recessive congenital ichthyosis (ARCI), which encompasses lamellar ichthyosis (LI), may exhibit significant hyperkeratosis and skin scaling. At present, the Food and Drug Administration (FDA) has not approved any therapies for these illnesses.
COVID-19 Analysis
The increase in the spread of COVID-19 disease led to huge havoc across the world. Due to this, the focus of the healthcare sector shifted to contain the spread. Furthermore, it also reduced the Sturge Weber Syndrome Market Growth significantly. However, with the rising emphasis and support by the government, it is anticipated the market will have considerable growth. Also, the steps taken by the key players will further enhance the market growth.
Important factors such as increasing cases of rare diseases and rising awareness among people will drive the market growth. Also, the increasing technological advancements are estimated to enhance the Sturge Weber Syndrome Global Market Growth.
Factors such as high costs for the treatment of sturge weber syndrome are evaluated to slow down the growth of the Sturge Weber Syndrome Market. Along with that, the side effects related caused by the drugs for the treatment are also estimated to restraint the market growth.
There are various opportunities such as increasing Sturge Weber Syndrome Global Market Trends with increasing funds by the support from governments and key players. These funds will be helpful for development and research to boost the Sturge Weber Syndrome Market Outlook.
One of the major challenges for the Sturge Weber Syndrome Market is the disruption in the supply chain. Along with that, problems can occur in the development, and research is speculated to hinder the market growth.
According to Sturge Weber Syndrome Market Forecast, the market value is estimated to reach up to USD 230 Million. The Compound Annual Growth Rate (CAGR) is further evaluated to rise up to 5.5% by the end of the projected forecast period 2021-2028. Increasing awareness for the treatment of rare diseases will impact the market positively.
With the improvement in the Sturge Weber Syndrome Market Trends and technological advancements, the market will expand in the future. Also, the rising demand for better healthcare facilities and crucial strategies by key players are estimated to enhance the value chain of the market.
Global Sturge-Weber syndrome market Size, by End User, 2022 (USD Billion)
Source: MRFR Analysis
On the basis of Type, the market is divided into Type 2, Type3, and Type 1.
On the basis of end-user, the Sturge Weber Syndrome Marketis divided into Diagnostic Centres, Clinics and Hospitals, and Others. In the year 2017, the clinics and hospitals segment accounted for a market value of USD 1,257.72 Million. Therefore, the revenue of this section will further increase in the forthcoming years.
On the basis of Treatment, the Sturge Weber Syndrome Market is divided into Surgical Procedure, and Laser Therapy. The laser treatment is further divided into medication which is again divided into Antiglaucoma and Antiepileptic. Furthermore, Antiglaucoma is divided into carbonic Anhydrase Inhibitors, Beta Antagonist Eye Drops, and Latanoprost.
The Diagnosis segment of the Sturge Weber Syndrome Global Market is divided into Skull Radiography, Magnetic resonance imaging (MRI), Electroencephalogram, and Computed Topography.
Geographically, the Sturge Weber Syndrome Market Sizeis divided into Asia-Pacific, North America, Africa, and the Middle East, and Europe. According to the Sturge Weber Syndrome Global Market Analysis by MRFR, North America will dominate the market in the upcoming years of the forecast period 2024-2032. The increasing research for the funds for treating rare diseases and technological development is the crucial driver.
Secondly, Europe is estimated to have the second-largest Sturge Weber Syndrome Market Sharein the estimated forecast period. Several driving factors such as increasing expenditure for healthcare, support from the government are fuelling the market growth in this region.
However, the Asia-Pacific region is evaluated to have the fastest growth in the upcoming years. Due to the rising demand for early diagnosis and improvement in technology, the market will record immense growth. Also, countries such as India, China, Japan, etc. are contributing to the immense Sturge Weber Syndrome Global Market Growth. Also, the supportive funds and initiatives by the government will further boost the market growth in Asia-Pacific.
Competitive Landscape
The key players in the Sturge Weber Syndrome Market apply various market strategies to improve their business. They do mergers, partnerships, collaboration, new ventures, and product launches, acquisitions, etc. Some of the important key players in the Sturge Weber Syndrome Market are as follows.
Report Overview
The overview of the Sturge Weber Syndrome Market Outlook is as follows.
| Report Attribute/Metric | Details |
| Â Â Market Size | 0.26 Billion |
| Â Â CAGR | Â Â 5.90% |
| Â Â Base Year | Â Â 2023 |
| Â Â Forecast Period | Â Â 2024-2032 |
| Â Â Historical Data | Â Â 2022 |
| Â Â Forecast Units | Â Â Value (USD Billion) |
| Â Â Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Â Â Segments Covered | Type, Diagnosis & Treatment, End User |
| Â Â Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Â Â Key Vendors | Â Abbott (US), Pfizer Inc. (US), F. Hoffmann-La Roche AG (Switzerland), Novartis AG (Switzerland), UCB SA (Belgium), Sanofi (France), Shire (Ireland), Aleva Neurotherapeutics SA (Switzerland), GW Pharmaceuticals, PLC (US), ElectroCore LLC (US), and Johnson & Johnson (US) |
| Â Â Key Market Opportunities | Â Â New product launches and R&D Amongst major key Players |
| Â Â Key Market Drivers | Increasing prevalence of epilepsy and glaucoma Rising research and development Growing focus on players towards Sturge-Weber syndrome |
Sturge-Weber Syndrome Market Highlights:
Frequently Asked Questions (FAQ) :
Sturge-weber syndrome market is projected to grow at a 5.90% CAGR between 2024-2032.
The Americas is expected to dominate the sturge-weber syndrome market.
Sturge-weber syndrome market is predicted to touch USD 0.26 Billion by 2032.
Hospitals and clinics will dominate the sturge-weber syndrome market.
Certain side effects may limit the sturge-weber syndrome market growth.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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