Global Aplasia Treatment Market Highlights Over 2022 - 2030
The global aplasia treatment market is estimated to grow at a notable CAGR over the forecast period, i.e., 2022 – 2030. Aplasia is a rare genetic disorder, in which, major body parts or organs are either completely absent, or minimally present. This ranges from absence of blood cells, or lack of the ability to make new cells to absent limbs and internal organs. The lifespan of an aplasia patient ranges from a few weeks to a few years, depending on the fact that which body organ is not available. The growth of the market can be attributed to the increasing demand for treatment of aplasia, as there is no known cure for this disease. In addition to this, the increasing incidences of various genetic diseases, including all types of aplasia, are estimated to boost the market growth. According to the National Organization for Rare Disorders (NORD), in the United States approximately 500-1,000 new cases of aplastic anemia are diagnosed each year. On the other hand, the prevalence is 4-6 cases in a million in Asia, and 2-3 cases in a million in Europe.
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Moreover, the growing medical R&D activities aiming to develop treatment drugs for rare diseases, along with the growing investment in the field of research, are projected to boost the market growth. According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.
The market is segmented by type into germ-cell aplasia, radial aplasia, aplastic anemia, pure red cell aplasia, and others, out of which, the aplastic anemia segment is anticipated to hold the notable share in the global aplasia treatment market. This can be attributed to the higher prevalence of aplastic anemia, in which, the body stops generating new blood cells. The patient of aplastic anemia has a limited lifespan, which is estimated to boost the demand for treatment method extensively, which, in turn, is projected to fuel the segment growth.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Aplasia Treatment Market Regional Synopsis
Regionally, the global aplasia treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of growing healthcare expenditure, and increasing investment in medical research activities. According to the data by the World Bank, North America spent 2.734% of its GDP for R&D activities in 2018. The market in the Europe region is also estimated to gain notable share over the forecast period owing to the improving healthcare infrastructure, and growing awareness regarding rare diseases. Moreover, favorable government initiatives to promote medical research in countries, such as, Germany, Sweden, and Denmark, are estimated to promote the market growth.
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The global aplasia treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global aplasia treatment market includes the following segments:
Top Featured Companies Dominating the Market
There is no known treatment available for aplasia, however, surgery and supportive therapy are used to treat the symptoms. Major pharmaceutical companies, such as, CryoLife Inc., Boston Scientific Corporation, Medtronic PLC, and Siemens Healthcare GmbH manufacture the surgical devices and equipment required to treat aplasia.
FREQUENTLY ASKED QUESTIONS
Rising cases of genetic disorders, and growing demand for treatment method are estimated to boost the market growth.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022-2030.
The market in the North America region is estimated to provide more business opportunities over the forecast period on account of efficient healthcare sector, along with growing R&D expenditure.
Major pharmaceutical companies, such as, CryoLife Inc., Boston Scientific Corporation, Medtronic PLC, and Siemens Healthcare GmbH manufacture the surgical devices and equipment required to treat aplasia.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end-user, and by region.
The research center segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
Lack of enough scientists and researchers is estimated to hamper the market growth.
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