Market Scenario
Cerebral palsy (CP) is a congenital disorder that affects the muscle tone, movement, and motor skills. CP is generally considered to be caused by brain damage that happens before or during the baby's birth. The signs and symptoms of CP vary from person to person. According to the Centers for Disease Control and Prevention (CDC), some of the signs and symptoms of clinical palsy includes coordination and control problem, lack of muscle control, oral motor problems, and abnormal reflex responses. Currently, there are a wide variety of medications and therapies available to help people with cerebral palsy.
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The increasing prevalence of cerebral palsy coupled with increasing awareness about the condition is anticipated to drive the global cerebral palsy market. According to an article published by the National Center for Biotechnology Information (NCBI) in 2017, the overall birth prevalence of cerebral palsy is approximately 2 per 1,000 births worldwide. Moreover, the rising adoptions of medications for controlling the symptoms of the cerebral palsy are expected to boost the market growth. In addition, rising healthcare expenditure in developed economies and increasing insurance coverage contributes to the growth of the market during the assessment period. On the other hand, side effects associated with medications and high treatment cost and lack of awareness in some developing regions may hinder the growth of the market.
Despite the drivers, side effects associated with medications and high treatment cost and lack of awareness in some developing regions may hamper the market growth during the assessment paeriod.
Segmentation
The global cerebral palsy market has been segmented into type, diagnosis, and treatment.
The market, on the basis of type, has been segmented into spastic cerebral palsy, dyskinetic cerebral palsy, hypotonic cerebral palsy, ataxic cerebral palsy, and mixed cerebral palsy.
The market, by diagnosis, has been segmented into imaging tests and others. The imaging tests have been further segmented into magnetic resonance imaging (MRI), cranial ultrasound, computed tomography, and electroencephalogram.
The market, by treatment, has been segmented into therapy, medication, surgery, and others. The therapy segment has been segmented into nutrition therapy, hyperbaric oxygen therapy, occupational therapy, physical therapy, stem cell therapy, and others. The medication segment has been segmented into anti-convulsant drugs, muscle relaxants, anti-depressant drugs, anti-inflammatory drugs, and others. Further, the surgery segment has been segmented into orthopedic surgery and others.
Key players
Allergen Plc, Cellular Biomedicine Group, Merck & Co., Inc., Pfizer, Inc., GlaxoSmithKline Plc, Abbott Laboratories, Acorda Therapeutics, Inc., Medtronic, Meridigen Biotech Co., Ltd., GW Pharmaceuticals Plc, and Cell Cure Neurosciences Ltd. are some of the key players in the global cerebral palsy market.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global cerebral palsy market owing to a well-developed healthcare sector, rising prevalence of cerebral palsy and growing healthcare expenditure. Additionally, favorable reimbursement scenario in this region and a relatively large number of research and development (R&D) activities contributes to the growth of the market.
Europe is expected to hold the second largest position in the global cerebral palsy market. The market growth in this region is attributed to the growing prevalence of cerebral palsy, availability of funds for research, and increasing healthcare expenditure. According to the data stated by the National Institute for Health and Care Excellence (NICE) in 2017, in the UK, it is estimated that 1 in 400 babies are born with cerebral palsy. It also stated that approximately 1,800 children diagnosed with CP each year.
The cerebral palsy market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies, rising prevalence of cerebral palsy and increasing government funding for the healthcare sector.
On the other hand, the Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector and growing government initiatives for the healthcare sector.
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