Global Cerebral Palsy Market To Witness Increasing Revenue Growth By 2023

Market Research Future recently presented Global Cerebral Palsy Market study with detailed review, portraying about the Product/Industry Scope and expounds market outlook and status to 2023.

Cerebral Palsy Market Analysis

Cerebral palsy is defined as a group of disorders that affect muscle movement and coordination, which in many cases, impairs vision, hearing, sensation and others senses. Cerebral palsy is a congenital disorder of movement, muscle tone or posture and can affect a person’s posture, balance and ability to move, communicate, eat, sleep and learn. According to the Centre for Disease Control 1 to 4 out of every 1,000 children across the globe are affected by cerebral palsy, thereby creating a strong demand for diagnosis, and treatment for the condition which will drive growth for cerebral palsy market.

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Cerebral Palsy Market Segmentation

The cerebral palsy market has been segmented into type, diagnosis, and treatment.

On the basis of type, cerebral palsy market has been segmented into hypotonic cerebral palsy, spastic cerebral palsy, ataxic cerebral palsy, dyskinetic cerebral palsy, and mixed cerebral palsy.

By diagnosis, CP market segmentation includes imaging tests and others. The imaging tests segment has been further classified into computed tomography, magnetic resonance imaging (MRI), cranial ultrasound, and electroencephalogram.

Based on treatment, cerebral palsy market has been segmented into therapy, medication, surgery, and others.

Cerebral Palsy Market Regional Summary

Geographically, the Americas region is anticipated to dominate the global cerebral palsy market size 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.

Competitive Overview:

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.

Cerebral Palsy Industry News:

Since cerebral palsy is a disabling disorder that can majorly impact quality of life, research to develop treatment for the condition are being undertaken by medical bodies around the world, in turn augmenting cerebral palsy market. For instance, researchers at Cincinnati Children’s Hospital Medical Center recently discovered that Velcade, a cancer medicine, can prevent formation of muscle contractures in mice. Muscle contractures is the tightness of muscles, a condition that is commonly faced by children affected by cerebral palsy.

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Muscle contractures develop when normally elastic tissues are replaced by fiber-like tissues and research shows that too much protein destruction in muscles causes this condition. Children with cerebral palsy who experience contractures also suffer from pain and loss of mobility. Velcade, which is mainly used for multiple myeloma and mantle cell lymphoma, has proved to be effective in counteracting the process and prevent contractures in mice.

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