Cerebral Palsy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
The global cerebral palsy market is picking up steam due to increasing awareness about the condition amongst parents. The market is projected to experience a growth spurt in the coming years as access to medical healthcare improves along with disposable income. The increasing research and development for developing better treatment options for cerebral palsy has also resulted in growing number patients opting for this treatment. Today, patients can rely on medicines to control the symptoms of this condition and live a relatively functional life. These assuring factors have gone a long way in defining the positive trajectory of the global cerebral palsy market.
The supportive government policies and important insurance reimbursements have been instrumental in coaxing patients to opt for drugs that are able stop muscle deterioration. Researchers are also working on determining the role of cord blood therapy for treating cerebral palsy. If this proves to be a successful study it is mostly likely going to bolster the growth of the global market in the coming years. A greater number of children will be able to have access to this therapy in the near future. The report indicates that the introduction of newer drugs has opened up several never-seen-before avenues for growth for the global cerebral palsy market.
On the downside, the global market is being challenged by the a few factors, especially in the developing economies. The lack of awareness in these economies, higher birth rate, and poor medical facilities are expected to hamper the growth of the cerebral palsy market. Additionally, the side effects of drugs and the availability of alternative treatments such as physiotherapy and rehabilitation are also projected to restrain market growth.
Cerebral palsy is referred to a group of neurological disorders that mainly affect the development of the brain in children and it appears during early childhood or infancy. Chronic palsy is a non-progressive chronic brain disorder that affects muscle movements, is not caused due to muscle or nerve disability. Some of the common disorders that occur due to cerebral palsy include ataxia which is characterized by lack of muscle coordination while carrying out of voluntary movements, spasticity which causes stiff muscles and exaggerated reflexes, leg dragging or walking with only one foot, a scissored or crouched gait.
Some of the major driving factors of the global cerebral palsy market include the increasing prevalence of infections during pregnancy that might damage the developing nervous system of a fetus, a rise in the number of genetic disorders related to cerebral palsy, and an increasing need of the population to opt for the sophisticated treatment options.
The global cerebral palsy market can be segmented on the basis of the types of palsy, including spastic cerebral palsy, dyskinetic cerebral palsy, ataxic cerebral palsy, hypotonic cerebral palsy, and mixed cerebral palsy. Based on treatments, the global cerebral palsy market can be segmented into medications and surgery. The former can be further divided into muscle relaxants such as baclofen, diazepam, and botulinum toxin, and certain anticholinergics such as benztropine and glycopyrrolate that are specifically used to treat uncontrolled body movements. Surgery in the global cerebral palsy market includes orthopedic surgery for muscles, tendons and joints, and selective dorsal rhizotomy for mobility problems.
The common symptoms of cerebral palsy are skin irritation, a shrill cry, feeding and swallowing difficulties, the baby being unable to hold up its own head, poor muscle control, and unusual postures. Drug developers are continuously conducting clinical trials of different drug molecules that could prove to be effective in the treatment of this disorder in the future.
Geographically, the global cerebral palsy market can be segmented into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America. North America was the leading region in the global cerebral palsy market followed by Europe, for 2016. Key factors responsible for their dominance in the included a higher rate of abnormal birth that were recognized by the healthcare industry, the availability of advanced healthcare facilities, and a high healthcare expenditure that promotes a faster rate of research and development. At the same time, emerging economies from Asia Pacific, The Middle East, Latin America, and Africa currently present huge growth opportunities for players from the global cerebral palsy market. A lot of these regions show an easier rate of market penetration by global players, an increasingly favorable reimbursement scenario, and the speedy development of healthcare infrastructure.
Some of the leading players in the global cerebral palsy market in terms of therapeutic drugs and pipeline drugs for 2016, included Acorda Therapeutics, Inc., Allergan, Inc., Cellular Biomedicine Group, Inc., Cell Cure Neurosciences, Ltd., CHA Bio & Diostech Co., Ltd., K-Stemcell Co., Ltd., and Neuralstem, Inc.
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Latest Trends and Cardinal Growth Prospects
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Ascensions in Technology
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The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
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