Hemifacial Spasm Market – Overview
Hemifacial spasm is a painless neurological condition characterized by persistent or brief involuntary contractions of the muscles innervated by the facial nerve. Vascular compression triggers the primary hemifacial spasm, and secondary hemifacial spasm comprises all other causes of facial nerve damage.
According to the study published in The Scientific World Journal in 2014, it is found that hemifacial spasm is prevalent in 9.8 per 100,000 individuals, and the average age for the onset of hemifacial spasm is 44 years. It is also reported that women and Asian populations have a high susceptibility to hemifacial spasm.
It is noted that increasing technological advancements and growing awareness are the key factors driving the hemifacial spasm market. Nowadays, people are becoming more aware of different types of neurological disorders. Government and other different organizations have started educating people about hygiene and diseases through seminars, and conferences. Thus, increasing awareness has provided a push to the growth of the market.
Various other factors such as increased incidence of craniofacial tremor, and facial chorea, unmet medical needs, increasing government assistance, improving regulatory framework, increasing adoption rate, and rising funding and reimbursement are continuously contributing to the growth of the global hemifacial spasm market.
Despite these drivers, there are some issues associated with hemifacial spasm market. The difficult diagnosis, cost of treatment, side-effects of botulinum toxin, the presence of misbranded and spurious drugs, and poor healthcare system in low and middle-income countries, may hinder the growth of the market to an extent.
It is estimated that the hemifacial spasm market is expected to grow at a CAGR 7.5% during the forecast period of 2017-2023.
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Hemifacial Spasm Market – Top Players
Abbott, Allergan, Inc., Cephalon Inc., GlaxoSmithKline plc, Ipsen Group, Johnson & Johnson Services, Inc., Medytox,Inc., Merz Pharma GmbH and Co. KGaA, Novartis AG, Pfizer, Revance Therapeutics, Inc., ROCHE, Sanofi S.A, Shire plc, Stryker, Sunovion Pharmaceuticals, Inc., UCB S.A., US WorldMeds, LLC., and Valeant Pharmaceuticals International, Inc.
Global Hemifacial Spasm Market – Regional Analysis
The Americas dominate the hemifacial spasm market owing to the rising technological advancements and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total health expenditure in the United States was reported to be USD 3.2 trillion, and hospital care accounted for a share of 32.3%.
Europe holds the second position in the hemifacial spasm market. It is expected that the support provided by the government bodies for research & development and improvement in reimbursement policies in the healthcare is likely to drive the European market.
The Asia Pacific is the fastest growing hemifacial spasm market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also improving in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-2015. An increasing prevalence rate among Asian population is also propelling the growth of the market.
The Middle East & Africa holds the lowest share of the global market due to lack of technical knowledge and poor medical facilities.
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Global Hemifacial Spasm Market – Segmentation
The global hemifacial spasm market is segmented on the basis of diagnosis, treatment, and end user.On the basis of the diagnosis, the market is classified as magnetic resonance imaging (MRI), computed tomography (CT or CAT scan), angiography (Arteriography), and others. On the basis of the treatment, the market is classified as medical treatment, surgical treatment, combinational therapy, transcutaneous electric nerve stimulation (TENS) therapy, physical therapy, and others. The medical treatment is further classified into Botulinum Neurotoxin (BoNT) Injections and Pharmaceuticals. The sub-segment of Botulinum Neurotoxin (BoNT) Injections includes BoNT-A, BoNT-B, onabotulinumtoxinA, incobotulinumtoxinA, and rimabotulinumtoxinB. The sub-segment of pharmaceuticals include anticonvulsants and GABAergic drugs. The surgical treatment is further classified into microvascular decompression (MVD), and others. On the basis of the end user, the market is segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others.
Major TOC of Hemifacial Spasm Market Research Report- Global Forecast till 2023
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Hemifacial Spasm Market, By Diagnosis
6 Global Hemifacial Spasm Market, By Treatment
7 Global Hemifacial Spasm, By Therapy
8 Global Hemifacial Spasm, By End-user
9 Global Hemifacial Spasm, By Region
7 Competitive Landscape
8 Company Profile
9 MRFR Conclusion
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