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.
August, 2017: Sanofi-aventis and Bristol-Myers Squibb Company announced FDA approval for the antiplatelet agent PLAVIX used in case of myocardial infarction.
The global moyamoya disease drugs market is estimated to grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to increasing prevalence of moyamoya disease in females, especially in females under 20 years of age. Moreover, increasing awareness about various neurological disorders, and increasing R&D activities in the medical field is estimated to boost the market growth. Development of new drugs, coupled with growing investment by major market players, is another major factor expected to fuel the market growth.
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The market is segmented by drug type into blood thinners, calcium channel blocker, anti-seizure medications and others, out of which, the calcium channel blocker segment is anticipated to hold the notable share in the global moyamoya disease drugs market over the forecast period on account of growing use of calcium channel blockers to manage and reduce symptoms of stroke. On the basis of end-user, the market is segmented into hospitals, pharmacies, and others, out of which, the hospital segment is anticipated to hold largest market size over the forecast period, owing to high footfall of patients, which increases the demand for drugs in the hospitals.
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 moyamoya 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 North America region witnessed or is estimated to witness noteworthy growth over the forecast period on the back of presence of major pharmaceutical companies in the region, along with high investment in development of new and advanced drugs. Along with this, U.S has one of the highest shares of obese population. Over 70 million adults in U.S. are obese.
The market in the Asia Pacific is estimated to garner highest CAGR over the forecast period, owing to the increasing prevalence of moyamoya disease in the region, backed by busy and hectic lifestyle of people. Furthermore, improving healthcare facilities is also estimated to boost the market growth.
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The global moyamoya disease drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global moyamoya disease drugs market includes the following segments:
Ans: Increasing cases of moyamoya disease, and more people opting for medications over surgery to act as major market growth driver.
Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2030.
Ans: High costs of drugs is estimated to hamper the market growth.
Ans: The North America region is estimated to gain the largest market share owing to the high investment in R&D activities, along with presence of major market players in the region.
Ans: The major players in the market are Merck & Co., Inc., Siemens Healthcare GmbH, Boehringer Ingelheim International GmbH, Johnson & Johnson Services, 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 drug type, end-user, and by region.
Ans: The hospital segment is anticipated to hold largest market size over the forecast period owing to the easy accessibility of medications in hospitals during any emergency.