Intracranial Abscess Treatment Market Segmentation by Origin (Ear Infection, Chronic Sinusitis, Neurosurgery, Head Injury, and Others); by Diagnosis (MRI, CT scan, and Others); by Treatment (Antibiotic Therapy, Surgery, and Others); by End-User (Hospital, Specialty Clinic, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The global intracranial abscess treatment market is estimated to grow at a CAGR of ~18% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing prevalence of intracranial abscess, backed by increasing head injuries, and neurosurgeries. Intracranial abscess refers to collection of pus between the brain and skull. This blocks the flow of blood to the brain, which, in turn, limits the supply of oxygen to that part of the brain, resulting to impairment of speech and hearing, coordination and movement troubles, disturbed consciousness, and even paralysis. The pus is generated when any infection reaches the brain, which can be through ear, teeth, throat, or directly through head during a surgery. The rising cases of road accidents, that cause head injuries, and as a result, require a surgery, are estimated to drive the market growth. According to the data by the World Health Organization (WHO), between 20 and 50 million people suffer non-fatal injuries in road accidents. The mounting prevalence of cerebrovascular diseases, and neurological diseases, such as, Parkinson’s disease, dementia, cerebral infarction, and others, is also projected to boost the market growth.
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The market is segmented by origin into ear infection, chronic sinusitis, neurosurgery, head injury, and others, out of which, the head injury segment is anticipated to hold the notable share in the global intracranial abscess treatment market over the forecast period on account of rising cases of severe head injuries, most of which are caused in road accidents, falls, or other traumatic accidents. Mostly, these injuries become the source of infection inside the skull, which, as a result, cause intracranial abscess.
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.
On the basis of geographical analysis, the global intracranial abscess treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of high cases of injuries, and accidents, along with growing healthcare system in the developing countries.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period high healthcare expenditure, and presence of major pharmaceutical companies. According to the statistics by the World Bank, the total healthcare expenditure of North America accounted for 16.415% of the total GDP, in 2018. Increasing research activities for the development of new drugs is also estimated to boost the market growth.
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The global intracranial abscess treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global intracranial abscess treatment market includes the following segments:
Ans: The increasing cases of intracranial abscesses, and the urgent need for treatment are estimated to boost the market growth
Ans: The market is anticipated to attain a CAGR of ~18% over the forecast period, i.e., 2022 – 2030.
Ans: Difficult diagnosis of intracranial abscesses are estimated to hamper the market growth.
Ans: The market in the Asia Pacific is estimated to witness growth with highest CAGR over the forecast period, owing to the increasing geriatric population, and developing healthcare system.
Ans: The major players in the market are Eli Lilly and Company, Hindustan Antibiotics Limited, Sun Pharmaceutical Industries Ltd., Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., and others.
Ans: 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.
Ans: The market is segmented by origin, diagnosis, treatment, end-user, and others.
Ans: The surgery segment is anticipated to hold largest market over the forecast period and display significant growth opportunities, owing to the higher success rate of surgeries over medication.
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