sturge weber syndrome Market Strategic Insights and key Business Influencing Factors
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.
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.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.
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Key Players
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.
Segmentation
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
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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