The global intraspinal abscess treatment market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. Intraspinal abscesses are pus filled blisters between the spinal cord and backbone. This condition is rarer in comparison to intracranial abscesses, which are another type of epidural abscess, occurring in the skull. Intraspinal abscess can cause severe effects from chronic back pain, movement difficulties, to permanent disabilities. The pus is generated when any infection reaches the spine, generally through an unsafe surgery of back. The rising cases of sports injuries, affecting the lower back, along with injuries caused due to accidents and violence, are estimated to boost the market growth. The increasing investment in the R&D activities in the medical field, along with rising health awareness amongst the people is estimated to boost the market growth. Moreover, the developing public healthcare infrastructure and high government expenditure for the development of new drugs is anticipated to significantly fuel the growth of the market.
The market is segmented by treatment into antibiotic therapy, surgery, and others, out of which, the surgery segment is anticipated to hold the notable share in the global intraspinal abscess treatment market over the forecast period on account of higher success rate of surgery. Moreover, surgery provides immediate treatment to severe cases of abscess and gives rapid relief. This is estimated to boost the segment growth. CLICK TO DOWNLOAD SAMPLE REPORT
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 intraspinal 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 Europe region is estimated to witness noteworthy growth over the forecast period on the back of developing healthcare system, high disposable income of the individuals, and favorable health insurances available in developed countries, such as, the UK, Germany, France, Norway, and Others.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of increasing research activities for the development of new drugs, as it is a rare disease. Moreover, high healthcare expenditure is estimated to boost the market growth. According to the statistics by the World Bank, in 2018, the total healthcare expenditure of North America accounted for 16.415% of the total GDP.
The global intraspinal abscess treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global intraspinal abscess treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing cases of intraspinal abscesses, backed by increasing incidences of back injury are estimated to boost the market growth
The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Difficult diagnosis of intraspinal abscesses is estimated to hamper the market growth.
The market in the North America is estimated to witness growth with highest CAGR over the forecast period, owing to the efficient healthcare system, and high healthcare expenditure.
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.
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 origin, treatment, end-user, and others.
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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