Our in-depth analysis of the global DiGeorge syndrome drug market includes the following segments:
By Route of administration
By Therapy Type
On the basis of regional analysis, the global DiGeorge syndrome drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in the North America is anticipated to garner significant revenue during the forecast period on the back of rising prevalence of the disorder. DiGeorge syndrome occurs in 1 in every 3000 to 6000 births in the U.S. and its proximity is equal between males and females. Additionally, the market is projected to witness significant growth owing to the growing medical advancements combined with efficient healthcare sector in the region. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America. Moreover, increasing investments by the government on research and development activities for the development of newer treatment methods and more effective drugs are additional factors estimated to contribute towards the market growth in the forecast period. The market in the Asia Pacific is anticipated to witness notable growth accounting to the increasing population and prevalence of DiGeorge syndrome in the region. Gradual, yet constant development in the public healthcare system in the APAC region also tends to positively affect the market growth.
The global DiGeorge syndrome drug market is further classified on the basis of region as follows:
There is no known cure for DiGeorge Syndrome, but treatment is given for the symptoms, which can be different for different patients. The treatment approach can range from cleft palate surgeries, drugs for mental disorders to behavioural and speech therapy. The major market players manufacturing the various kind of drugs needed to treat the symptoms include F. Hoffmann-La Roche Ltd, Pfizer Inc., Cerecor, Inc., Bausch Health Companies Inc., Natera, Inc, Boehringer Ingelheim International GmbH, AbbVie Inc., Amgen Inc., Novartis AG and Progenity, Inc.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani