Global Cerebral Palsy Treatment Market 2019-2023 | Increasing Awareness about Cerebral Palsy to Boost Demand | Technavio
Technavio analysts forecast the global cerebral palsy treatment market to grow at a CAGR of over 5% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio analysts forecast the global cerebral palsy treatment market to grow at a CAGR of over 5% by 2023. (Graphic: Business Wire)
Increasing cerebral palsy research is one of the major trends being witnessed in the global cerebral palsy treatment market 2019-2023. Research is being conducted to reduce the prevalence, understand the etiology, and find the best curable therapy for cerebral palsy. Various research bodies are providing federal funding for cerebral palsy research. Research is also being conducted on stem cells as a promising treatment option for various CNS disorders, including cerebral palsy. The research on the disease is increasing significantly. This is expected to lead to the development of a cure for cerebral palsy during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global cerebral palsy treatment market is the increasing awareness about cerebral palsy:
Global cerebral palsy treatment market: Increasing awareness about cerebral palsy
The awareness about the management and treatment of cerebral palsy is increasing across the globe. March is the cerebral palsy awareness month. Many patients care organizations, such as the International Cerebral Palsy Society, work throughout the month to educate and spread awareness about cerebral palsy through social media, funds, and campaigns. Efforts are also being made to encourage researchers to work toward improving the lives of patients.
According to a senior analyst at Technavio for research on infectious and rare diseases, “Many non-profit organizations, such as the Nemours Foundation in the US, provide information and related resources to children with cerebral palsy and other disorders. Also, Reaching for the Stars (a foundation for cerebral palsy patients), are establishing relationships with pharma, biotechnology, medical device, and related companies to accelerate cerebral palsy research. These initiatives are expected to increase the awareness about the disease as well as the funding for research during the forecast period.”
Global cerebral palsy treatment market: Segmentation analysis
The global cerebral palsy treatment market research report provides market segmentation by product (anticonvulsant drugs, antispastic drugs, anticholinergic drugs, NSAIDs, antidepressants, and others) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for more than 50% share. It was followed by APAC and EMEA respectively. The dominance of the Americas can be attributed to the rising incidence of cerebral palsy and increasing awareness about cerebral palsy.
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Five Forces Analysis
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