Global Post-polio Syndrome Treatment Market Highlights over 2022 – 2030
The global post-polio syndrome treatment market is estimated to grow at a modest CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the high prevalence of polio in underdeveloped countries, due to unavailability of polio vaccines in low-income economies. Polio was once a deadly disease, causing mass deaths and paralysis, but cases of polio have been a rarity after the development of polio vaccines, especially in developed countries. The World Health Organization (WHO) reported around 175 active polio cases in 2019. However, the prevalence of polio is high in underdeveloped countries, due to lack of efficient healthcare facilities, which is estimated to boost the market growth. Post-polio syndrome surfaces up decades after the initial infection, which is generally after the age of 30 years. The symptoms of this syndrome are severe and require continuous medication and other treatment, which is estimated to boost the growth of the market. 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.
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The market is segmented by treatment into medication, physical therapy, and others, out of which, the medication segment is anticipated to hold the largest share in the market over the forecast period on account of increasing use of painkillers and anticonvulsant drugs to curb the symptoms of post-polio syndrome. Drugs are given to relieve muscle and join pain and breathing difficulties, which 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 Post-polio Syndrome Treatment Market Regional Synopsis
On the basis of geographical analysis, the global post-polio syndrome treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain notable market share throughout the forecast period on account of presence of major pharmaceutical companies, and increasing research activities for the development of new drugs. The first polio vaccine was given in the United States in 1955, and US has been polio-free since 1979, according to the data by the Center for Disease Control and Prevention. However, the pharmaceutical industry in this region manufactures major amount of post-polio syndrome treatment drugs and medications, which is estimated to boost the market growth.
On the other hand, poor economies in Middle East and Africa and Asia Pacific are the worst affected by poliovirus, and hence, have major growth opportunities for post-polio syndrome treatment market. The market in the Middle East and Africa region is estimated to gain significant growth over the forecast period, owing to the lack of proper public healthcare system in the region, leading to rising prevalence of polio.
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The global post-polio syndrome treatment 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 post-polio syndrome treatment market includes the following segments:
- Muscle Atrophy
- Muscle and Joint Pain
- Sleep Apnea
- Breathing Issues
- Physical Therapy
- Severe Symptoms that Require Constant Treatment
- Increasing Cases of Polio in Low-Income Countries
- Eradication of Polio in Developed Country
Top Featured Companies Dominating the Market
- Baxter International, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Eli Lilly and Company
- Novartis AG
- Sanofi-aventis Groupe
- Abbott Laboratories
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Siemens Healthcare GmbH
- Pfizer Inc.
- Becton, Dickinson and Company