Intraspinal Abscess Treatment Market Segmentation by Origin (Back Surgery, Bloodstream Infections, and Others); by Treatment (Antibiotic Therapy, Surgery, and Others); by End-User (Hospitals, Specialty Clinics, and Others) – Global Demand Analysis & Opportunity Outlook 2030
Buy Now Report ID: 3454 | Published Date: Feb 08, 2023
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.
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The global intraspinal abscess treatment market is further classified on the basis of region as follows:
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.
Our in-depth analysis of the global intraspinal abscess treatment market includes the following segments:
By Origin
By Treatment
By End-User
Growth Drivers
Challenges
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
Ans: The increasing cases of intraspinal abscesses, backed by increasing incidences of back injury are estimated to boost the market growth
Ans: The market is anticipated to attain a CAGR of ~10% over the forecast period, i.e., 2022 – 2030.
Ans: Difficult diagnosis of intraspinal abscesses is estimated to hamper the market growth.
Ans: 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.
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, 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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