Vertebrobasilar Artery Syndrome Treatment Market Size & Share, by Diagnosis {Magnetic Resonance Angiography (MRA), MRI, Echocardiogram (ECG)}; Treatment (Surgery, Medication); Drug Class (Antihistamine, Anticholinergic, Antiplatelet); Distribution Channel (Hospital, Specialty Clinic, Pharmacies) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3462
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Vertebrobasilar Artery Syndrome Treatment Market size is anticipated to cross USD 59 billion by the end of 2035, growing at a CAGR of 2% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of vertebrobasilar artery syndrome treatment was over USD 45 billion. The primary factor for the global market is the rising cases of vertebrobasilar insufficiency among the global population owing to the increasing number of diseases and illnesses. The increasing cases of vertebrobasilar insufficiency are generating the need for vertebrobasilar artery syndrome treatment and helping in the expansion of the market size. According to the recent statistics conducted by researchers in 2021, it was found that the prevalence of vertebrobasilar arteries was prevalent in 21% of the elderly worldwide. Furthermore, the mortality rate of vertebrobasilar insufficiency falls under 75% - 85%.

Vertebrobasilar artery syndrome is a medical condition that has increased in the past few years. In this condition, there is a temporary decrease in blood flow in the posterior circulation of the brain. The blockage of basilar arteries occurs over time through a process called atherosclerosis, or the build-up of plaque. The most common symptoms are vertigo, dizziness, headaches, vomiting, ataxia, and weakness in the body. Furthermore, the vertebrobasilar artery could also lead to arterial hypertension, obesity, and smoking. The main factors for the expansion of the global vertebrobasilar artery syndrome market are the rising prevalence of artery disorders, lifestyle illnesses, and other genetic problems.


Vertebrobasilar Artery Syndrome Treatment Market
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Vertebrobasilar Artery Syndrome Treatment Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Chance of Developing Atherosclerosis – Atherosclerosis is a condition where cholesterol, fat, blood cells, and other substances in the blood form plaques. As a result of the formation of plaques, the arteries tend to become narrow and subsequently reduce the supply of oxygen-rich blood to tissues to the vital organs in the body. It has been stated that atherosclerosis could also lead to vertebrobasilar artery syndrome and aid in bringing lucrative growth opportunities for the global market growth during the forecast period. According to the recent statistics of 2022, it has been stated that the prevalence of atherosclerosis is among almost 50% of Americans who are over 50 years.
  • Increasing Rate of Artery-Related Diseases – Artery diseases are caused by plaque buildup in the wall of the arteries that supply blood to body organs. A plaque is a consequence of cholesterol deposits over time which causes the inside of the arteries to narrow. Thus, people diagnosed with artery diseases are estimated to generate the need for vertebrobasilar artery syndrome treatment in the upcoming years. This factor is estimated to create a positive outlook for market growth in the assessment period. According to the statistics from the National Library of Medicine, it is been revealed that coronary artery disease (CAD) is considered to be the third leading cause of mortality, accounting for almost 17.8 million deaths annually across the world.
  • The Surge in Lifestyle Disorders and Illnesses – In the recent period, people have been diagnosed with lifestyle diseases owing to the adoption of a sedentary lifestyle and consumption of fast food. As a result, the rate of cholesterol, diabetes, stress, and other illnesses increased considerably leading to the development of vertebrobasilar artery syndrome and ultimately vertebrobasilar artery syndrome treatment for cure. The latest data suggests from the World Health Organization stated that raised cholesterol is estimated to cause 2.6 million deaths and 29.7 million DALYs in the world.
  • Increasing Investment in Healthcare Sector with Rising Healthcare Expenditure - The overall health expenditure in the U.S. rose beyond USD 4 trillion in 2020. Moreover, expenditure as a percentage of GDP is anticipated to rise by about 20% by the year 2028.
  • Burgeoning Geriatric Population Across the World - According to the United Nations, the number of people aged 65 years and older is projected to more than double by the year 2050, reaching 1.5 billion globally.

Challenges

  • High Cost of Vertebrobasilar Artery Syndrome Treatment – The treatment of vertebrobasilar artery syndrome requires advanced technologies and medical products. As a result, the treatment of vertebrobasilar artery syndrome costs high and requires a huge amount of money. As a result, the adoption rate of vertebrobasilar artery syndrome treatment is expected to lower among the population with low and middle income. This factor is subsequently expected to hamper the growth of the global vertebrobasilar artery syndrome market during the forecast period.
  • The Dearth of Skilled Professionals
  • Lack of Reimbursement

Vertebrobasilar Artery Syndrome Treatment Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~2%

Base Year Market Size (2022)

~ USD 45 Billion

Forecast Year Market Size (2035)

~ USD 59 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Vertebrobasilar Artery Syndrome Treatment Segmentation

Diagnosis {Magnetic Resonance Angiography (MRA), MRI, Echocardiogram (ECG)}

The global vertebrobasilar artery syndrome treatment market is segmented and analyzed for demand and supply by diagnosis into magnetic resonance angiography (MRA), MRI, Echocardiogram (ECG), and others. Out of these segments, the MRI segment is estimated to gain the largest market share of about ~38% in the year 2035. One of the major factors of the segment growth is the rising use of MRI in various applications in the healthcare industry owing to its various advantages. According to recent statistics, it has been calculated that U.S. medical professionals perform approximately 30 million MRI scans every year. Furthermore, it has been estimated that the workforce of MRI technologists is estimated to grow by 9% between 2018 and 2028. Furthermore, the ease of analyzing the arteries for any blockage through MRI technologies is also estimated to fuel segment growth.

Distribution Channel (Hospital, Specialty Clinic, Pharmacies)

The global market is also segmented and analyzed for demand and supply by distribution channel into hospitals, specialty clinics, pharmacies, and others. Amongst these segments, the hospital segment is expected to garner a significant share of around ~46% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring advanced care and hospitalized for surgery or treatment of chronic conditions such as vertebrobasilar artery syndrome. The hospital also has the equipment and staff necessary for vertebrobasilar artery syndrome treatment. For instance, by the year 2022, there were noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice which helps in vertebrobasilar artery syndrome treatment. All these factors couple up to bring lucrative opportunities for segment growth during the forecast period.

Our in-depth analysis of the global market includes the following segments:

        By Diagnosis

  • Magnetic Resonance Angiography (MRA)
  • MRI
  • Echocardiogram (ECG)
  • Others

        By Treatment

  • Surgery
  • Medication

        By Drug Class

  • Antihistamine
  • Anticholinergic
  • Antiplatelet

        By Distribution Channel

  • Hospital
  • Specialty Clinic
  • Pharmacies
  • Others

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Vertebrobasilar Artery Syndrome Treatment Industry - Regional Synopsis

APAC Market Statistics

The market share of vertebrobasilar artery syndrome treatment in Asia Pacific, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The market in the Asia Pacific region is forecasted to witness substantial growth during the forecast period on the back of emergent healthcare infrastructure and improvement in medical facilities in developing nations, such as India, China, Bangladesh, Singapore, and Indonesia, among others. In addition to this, the high geriatric population in the APAC region is estimated to boost the market growth. According to the data by the World Bank, 6.574% of the total population of India aged above 65 years, in 2020, while the same value for China is 11.96% of the total population. Moreover, favorable market policies in these countries, attracting international investment, along with the growing disposable income are estimated to boost the market growth.

North American Market Forecast

The North American market is estimated to be the second largest, registering a share of about ~24% by the end of 2035, on account of high healthcare expenditure, presence of major pharmaceutical companies, and increasing expenditure in R&D activities. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies are also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry and rising commercialization of medical products are also anticipated to boost market growth during the forecast period.

Europe Market Forecast

Further, the market in the European region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market in this region can be attributed to the presence of key players in this region. Hence, owing to these key players Europe plays an important role in vertebrobasilar artery syndrome treatment as compared to other regions. These key players are further boosting their production in order to satisfy the demands of various organizations.

Research Nester
Vertebrobasilar Artery Syndrome Treatment Market Size
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Companies Dominating the Vertebrobasilar Artery Syndrome Treatment Landscape

top-features-companies
    • Abbott Laboratories
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Merck & Co., Inc.
    • Siemens Healthcare GmbH
    • Boehringer Ingelheim International GmbH
    • Johnson & Johnson Services, Inc.
    • Baxter International, Inc.
    • Novartis AG
    • Sanofi-aventis Groupe
    • AbbVie Inc.
    • Pfizer Inc.

In the News

  • Sanofi-aventis Groupe announced the acquisition of Translate Bio to expand its portfolio in the production of therapeutics.
  • Merck & Co., Inc. introduced three new products to support the flexible manufacturing of biologics, including first-of-its-kind single-use tangential flow filtration capsules for the bioprocessing of antibody-drug conjugates and monoclonal antibodies.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3462
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing spending in the field of protein chemistry, immunology, molecular biology, biochemistry, and microbiology are the major factors driving the market growth.

The market size of vertebrobasilar artery syndrome treatment is anticipated to attain a CAGR of 2% over the forecast period, i.e., 2023-2035.

Lack of health awareness amongst people are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Abbott Laboratories, Merck & Co., Inc., Siemens Healthcare GmbH, Boehringer Ingelheim International GmbH, Johnson & Johnson Services, Inc., Baxter International, Inc., Novartis AG, Sanofi-aventis Groupe, AbbVie Inc., Pfizer Inc., and other key players.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by diagnosis, treatment, distribution channel, and by region.

The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Vertebrobasilar Artery Syndrome Treatment Market Report Scope
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