It Is Estimated That Sturge-Weber Syndrome Market Is Expected to Grow at A Healthy CAGR of 6.8% During the Forecast Period 2017-2023.
Market Highlights: Sturge-Weber syndrome market
Sturge-Weber syndrome is a neurological disorder characterized by a distinctive port-wine stain (PWS) on the forehead, or scalp. PWS is a birthmark caused by an overabundance of blood capillaries near the surface of the skin. Sturge-Weber syndrome is also associated with eye abnormalities such as glaucoma, and neurological abnormalities.
A number of factors such as technological advancements, increasing awareness among people, increasing government assistance, improvement in the regulatory framework, and rising funding and reimbursement are propelling the growth of the global Sturge-Weber syndrome market. Centene Corporation, a publicly-traded company, has introduced clinical policy or criteria for Occipital Nerve Stimulation for Headache
However, challenges in research and development, the high cost of treatment, and poor healthcare system in the low and middle-income countries may hamper the growth of the market. According to the Epilepsy Foundation of Greater Chicago, it is observed that VNS therapy costs approximately USD 20,000, and costs of surgery vary in different parts of the world and may increase over time.
Key Players: Sturge-Weber syndrome market
Some of key the players in the global Sturge-Weber syndrome market are Valeant, Allergan, Syneron Medical Ltd., Medtronic, Cutera, St Jude Medical, Inc., Pfizer, Cyberonics, Inc., ZELTIQ Aesthetics, Inc., Novartis AG, GlaxoSmithKline plc, Abbott Laboratories, Novo Nordisk, Shire, and others.
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Segmentation: Sturge-Weber syndrome market
The global Sturge-Weber syndrome market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into Type 1, Type 2, and Type 3.
On the basis of the diagnosis, the market is classified into skull radiography, magnetic resonance imaging (MRI), computed tomography (CT) scan, and electroencephalogram (EEG).
On the basis of the treatment, the market is classified as medication, laser therapy, surgical procedures, and others. The medication is further segmented into antiepileptic, beta-antagonist eye drops, carbonic anhydrase inhibitors, adrenergic eye drops, miotic eye drops, and others. The surgical procedures are further segmented into focal cortical resection, hemispherectomy, corpus callosotomy, trabeculectomy, filtration surgery, cyclocryotherapy, vagal nerve stimulation (VNS), and others.
On the basis of the end-users, the market is segmented into hospital, clinics, diagnostic centers, and others.
Regional Analysis : Sturge-Weber syndrome market
The Americas dominate the Sturge-Weber syndrome market owing to the rising awareness among people, 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 global Sturge-Weber syndrome market. It is expected that the support provided by the government bodies for research & development and improving reimbursement policies in the healthcare is likely to drive the market of Europe region.
The Asia Pacific is the fastest growing Sturge-Weber syndrome 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.
The Middle East & Africa holds the least market share due to lack of technical knowledge and poor medical facilities.
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