Global Hallervorden-Spatz Disease Drugs Market Highlights over 2022 – 2030
The global Hallervorden-Spatz disease drugs market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2030. Hallervorden-Spatz disease or HSD, also known as, neurodegeneration with brain iron accumulation (NBIA), and pantothenate kinase-associated neurodegeneration (PKAN), is a genetic neurological disorder. The growth of the market can be attributed to the severity of the symptoms of HSD, which can lead to paralysis, coma, and even death if not treated timely. It is a rare condition, usually diagnosed in early childhood, but late onset can even delay diagnosis to adulthood. The incidence of HSD is estimated to be 2 to 5 per million individuals worldwide, as of 2020. There is no specific cure for HSD, and the medication is required lifelong. This is estimated to boost the market growth. In addition to this, the increasing investment in the R&D activities in the medical field, along with rising healthcare expenditure globally, is estimated to boost the market growth.
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The market is segmented by onset into under 10 years, and above 10 years, out of which, the under 10 years segment is anticipated to hold the largest share in the market over the forecast period on account of higher prevalence rate of HSD amongst children. Trouble in walking, speaking, involuntary muscle contractions, and other initial symptoms of HSD are visible in children under 10 years, which makes the diagnosis of this disease easier, and expands the life expectancy of the patient. This is estimated to boost 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 Hallervorden-Spatz Disease Drugs Market Regional Synopsis
On the basis of geographical analysis, the global Hallervorden-Spatz disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe region is estimated to witness noteworthy growth over the forecast period on the back of significant number of HSD cases, being diagnosed in the region every year. The high number of cases can be attributed to the efficient diagnosis system, advance public healthcare system and high health awareness amongst the people. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of high healthcare expenditure, and presence of major pharmaceutical companies. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America.
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The global Hallervorden-Spatz disease drugs market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Our in-depth analysis of the global Hallervorden-Spatz disease drugs market includes the following segments:
Under 10 Years
- Above 10 Years
- Rigid Muscles
- Tremors and Seizures
- Anticholinergic Drug
- Physical Therapy
- Speech Therapy
- Severity of the Symptoms of HSD
- Lack of Permanent Cure
- Requirement of Drugs Lifelong to Control the Condition
- Late Diagnosis of HSD
- Circulation of Generic Drugs in the Market
Top Featured Companies Dominating the Market
- Pfizer, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Merck & Co., Inc.
- Siemens Healthcare GmbH
- Boehringer Ingelheim International GmbH
- Johnson & Johnson Services, Inc.
- Baxter International, Inc.
- Novartis AG
- Abbott Laboratories
- Sanofi-aventis Groupe
- AbbVie Inc.