Market Research Future published a Half Cooked research report on “Global Spina Bifida Market Research Report- Forecast to 2023“ – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Global Spina Bifida Market – Overview
Spina bifida is a birth defect that occurs due to malformations of the spine and spinal cord don’t form properly. It’s of three main typesspina bifida occulta, meningocele, and myelomeningocele. It’s exact cause still remains a mystery but it is believed to be because of genetic as well as environmental factors.
Huge number of factors like increasing advancements in medical science, rising health awareness, increased incidence of spina bifida , and related complications, unmet medical needs, improving regulatory framework, increasing government assistance, increasing adoption rate, improvement in funding and reimbursement policies as well as inborn screening methods are aiding to the growth of the global spina bifida market.
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Despite this, there are factors which restrict the growth of spina Bifida market are cost of treatment, side-effects of surgeries and poor healthcare services in middle-income countries.
Global Spina Bifida Market – Company profile
B. Braun Melsungen AG, Boston Scientific, C.B. Fleet, C.R. Bard, Inc., Coloplast A/S, ConvaTec Group plc, Cook Medical, Covidien Private Ltd., Dynarex Corporation, Ethicon, Fujifilm, Hollister Incorporated, KARL STORZ, Medline Industries, Medtronic plc, Olympus, Pacific Hospital Supply Co., Ltd., Smith & Nephew, Stryker, Teleflex Incorporation, Wellspect Healthcare are key players in global Spina and Bifida market and are profiled in MRFR Analysis.
Global Spina Bifida Market – Competitive Analysis
It is estimated that the spina bifida market is expected to grow at a CAGR 8.0% during the forecast period of 2017-2023.
America dominates the Spina Bifida market because of availability of high-end technologies, rising occurrence of the disease, governments healthcare policies. According to the statistics suggested by Centres for Disease Control and Prevention (CDC), around 1,500 babies are born with spina bifida every year in the United States. The report also says that chances of giving birth to a child affected with the same disease are higher in cases of Hispanic women than non-Hispanic black or non-Hispanic white women.
Europe is at second in Spina Bifida market. It is assumed that growing support of government towards research and development expenditure, amendments reimbursement policies as well as advancement in medical research would increase Europe’s share in Spina Bifida market.
Asia Pacific is the fastest growing spina bifida market due to a huge patient pool and continuous developments in medical science. Healthcare expenditure is found to be improving in various Asia Pacific regions. According to the data suggested by the Australian Institute of Health and Welfare, during the year 2015-16, the total health expenditure was USD 170.4 billion which is 3.6% higher than the expenditure of 2014-2015.
The Middle East& Africa hold the lowest share in this market owing to its low-income statics, poor medical facilities and lesser incidence of the disease.
Braun Melsungen AG(Germany) The company’s Hospital Care division offers infusion, nutrition, and pain therapy products, including infusion and nutrition solutions, and medications; products for preparing medications, patient access, administration process, and discharge management products; and infusion equipment and supplies, infusion and injection solutions, intravenous catheters, clinical nutrition products. In Nov 2015, B. Braun Melsungen AG announced the launch of Ster-ASSIST Sterile Peripheral IV Catheter Insertion Kit, which can be used for spina bifida Patients. This company has a Product division unit called ‘Thoracolumbar Stabilisation’ which is dedicated mainly for spina bifida patients.
Olympus (Olympus medical systems) has a wide portfolio of products that are equipped with the latest innovative and superior technology. It manufactures Imaging devices like ultrasound systems and MRI systems which are used in diagnosis of spina bifida disease. It has dedicated department for surgical instruments in which several endo surgery instruments are used in spinal surgery for Spina bifida.
Oral medications for folate deficiency also holds a good market share in spina bifida market.
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