Market Scenario
Diastematomyelia is a rare anomaly resulting in the vertical splitting of the spinal cord. Females are more susceptible to this disease than males. According to the World Health Organization (2015), 1 in 2000 people suffers from this disease. However, during the last few years, the prevalence rate is increasing continuously. Increasing number of patients suffering from the disease, rising geriatric population and rising government support for research & development have driven the growth of the market. Moreover, rising demand for the better treatment, and changing lifestyle habits have fuelled the growth of the market. However, the cost of the surgery is too high and is not affordable to the people in developing region. Thus, the high cost of treatment may restrain the market.
A number of diagnostic procedures are available in the market for the diagnosis of the diastematomyelia. Increasing healthcare expenditure and rising government support have supported the growth of the market. According to the Boston Children's Hospital, in 2015, 5% of children across the globe were suffering from sustain spinal cord injuries. Furthermore, rapid development in the imaging technology and continuous improvement in the medical services have fuelled the market growth. The cost associated with the surgeries is very high which is not affordable for the people in developing region. Thus, high cost of surgeries, and lack of the precise treatment may restrain the growth of the diastematomyelia market trends.
The Global Diastematomyelia Market is expected to grow at a CAGR of 8.3% during forecast period 2017-2023.
Key players
The major key players in the global diastematomyelia market: 3M (US), GlaxoSmithKline PLC (U.K), Pfizer Inc. (U.S.), Lineage Medical, Inc. (U.S.), Johnson & Johnson Services Inc. (U.S.), Bristol-Myers Squibb and Company (U.S.), B. Braun (Germany), Stryker Corporation (U.S.), Argon Medical Devices, Inc (the Netherlands), Cook Medical (U.S.)
SegmentationThe global diastematomyelia market is segmented on the basis of types, host, therapy, and end users.
On the basis of type, the market is segmented into dual dural sac (type 1), and single sac (type 2).
On the basis of host, the market is segmented into children and adults.
On the basis of therapy, the market is segmented into diagnosis & therapy. The diagnosis is further segmented into imaging techniques, and prenatal ultrasound. Imaging techniques are further categorised into Plain X-ray, CT, MRI and others. The therapy is further segmented into surgical intervention, scoliosis surgery, decompression (surgery), and others.
On the basis of end users, the market is segmented into hospital, clinics, ambulatory centers, and others.
Regional Analysis
Asia Pacific is the fastest growing region in the global diastematomyelia market owing to the presence of huge patient pool, rapidly developing economies, and increasing demand for the better treatment options. Majority of the market is driven by India and China owing to huge patient population.
The Americas dominates the global diastematomyelia market owing to large patient population. According to the Brain and Spinal Cord Injury Rehabilitation, in 2015, over 259,000 people in the U.S. were suffering from spinal cord injury. Increasing number of patients suffering from diastematomyelia and other spinal disease have driven the growth of the Americas diastematomyelia market. Additionally, high per capita income and increasing government support for research & development will fuelled the growth of the market. Diastematomyelia is considered as a rare diseases thus, government and other private companies are trying to create awareness among the people by conducting different seminars. Increasing awareness among people regarding the disease and well-developed technology will create opportunities for the development of the market.
Europe accounts for the second largest diastematomyelia market, which is followed by Asia Pacific. Availability of funds for research, huge geriatric population, and government support for research & development projected to drive the market in Europe. The U.K and Germany are the major contributors for the market.
Whereas, the Middle East & Africa owns the least share of the global diastematomyelia market due to the presence of poor economy, especially, in the Africa region. The market of this region is dominated by the Middle East due to a well-developed healthcare sector and huge healthcare expenditure. However, Africa region shows the fastest growth for the market.
