The encephalomyelitis market is projected to reach USD 61261.88 Million by 2030 at 7.50 CAGR during the forecast period 2022-2030.
Encephalomyelitis is the condition of inflammation in the brain and spinal cord. The disease is caused by a number of factors including viral infection, bacteria and other. During last few years, the number of patients suffering from this disease is increasing due to which this disease has gained a considerable attention. According to the World Health Organization (WHO), 4.3 million people across the globe are affected by encephalomyelitis. The initial phase of disease is characterized by symptoms such as headache, fever, confusion, which in severe condition can led to hallucinations, trouble in speaking, and memory loss. A number of different types of drugs and vaccines are available in the market for the treatment. The patients suffering from autoimmune diseases & AIDS are the most commonly affected by the disease due to weak immune system. The encephalomyelitis market is majorly driven by the increasing prevalence of encephalomyelitis and rising number of patients suffering from autoimmune diseases & AIDS. According to the American Autoimmune Related Diseases Association, in 2014, approximately 50 million people in the U.S. are suffering from autoimmune diseases. Additionally, during last decade, the number of patient suffering from AIDS in Asia Pacific region has elevated. Moreover, increasing geriatric population, government support and rapid developments in technology have fuelled the growth of the market. On the other hand, high cost of the treatment and unavailability of precise treatment may restrain the growth of the Encephalomyelitis Market.
Figure 1: Global Encephalomyelitis Market Share, by Types, 2016 (%)
Sources: WHO, annual reports, press release, white paper, company presentation
The encephalomyelitis market is segmented on the basis of types, treatment and end users.
On the basis of types, the market is segmented into acute disseminated encephalomyelitis, encephalomyelitis disseminata, antiMOG associated encephalomyelitis, equine encephalomyelitis, AIDS related encephalomyelitis and others.
On the basis of treatment, the market is segmented into drug treatment, plasmapheresis, surgery, and others. Drug therapy is further segmented into antiviral medications, antibiotics, steroids, sedatives, NSAIDs, mood stabilizers, and others.
On the basis of end users, the market is segmented into hospital, clinics and others.
The Americas dominate the encephalomyelitis market owing to the increasing prevalence of patients with encephalomyelitis, and autoimmune diseases. Due to rapidly increasing patient population, governments have started supporting the manufacturers for the development of new and better drugs. Additionally, well developed technology, high healthcare expenditure, and strong government support for research & development have fuelled the growth of the market in this region.
Europe commands the second largest market for encephalomyelitis which is followed by Asia Pacific. Availability of funds, increasing need for better treatment options and strong government support drive the growth of the market in Europe. Germany, France & U.K holds the major share in the Europe market.
Asia Pacific is the fastest growing encephalomyelitis market owing to the increasing number of patients suffering from autoimmune diseases and AIDS. Additionally, rapidly growing economies and increasing healthcare expenditure will fuel the growth of the market.
On the other hand, the Middle East & Africa hold the least share of the market owing to less availability of funds, limited availability of medical facilities, and poor political conditions in Africa. The Middle East region holds the major share in the market owing to well developed technology, and high healthcare expenditure. On the other hand, Africa region shows the fastest growth due to availability of opportunities for the Encephalomyelitis Market growth.
Some of key the players in the Encephalomyelitis Market Gare Bristol-Myers Squibb Company (U.S.), Sanofi (France), GlaxoSmithKline Plc. (U.K), Spectrum Pharmaceuticals Inc. (U.S.), Amgen, Inc. (U.S.), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Novartis AG (Switzerland), F. Hoffmann-La Roche Ltd. (Switzerland), Eli Lilly and Company (U.S.), AstraZeneca Plc. (U.K), Janssen Biotech, Inc. (U.S.), AbbVie Inc. (U.S.), Takeda Pharmaceuticals (Japan), Immunomedics (U.S.), Pfizer, Inc. (U.S.), and Oncomed Pharmaceuticals (U.S.).
Sources: WHO, annual reports, press release, white paper, and company presentation
High prevalence of autoimmune diseases and rising cases of encephalomyelitis can drive the global encephalomyelitis market growth.
Encephalomyelitis market is expected to exhibit 7.50% CAGR from 2022 to 2030.
High costs of treatment can impede the global encephalomyelitis market growth.
The Americas can lead the global encephalomyelitis market.
Takeda Pharmaceuticals, AbbVie Inc., Merck & Co., Inc., GlaxoSmithKline Plc., Eli Lilly and Company, Janssen Biotech, Inc., Oncomed Pharmaceuticals, Immunomedics, Novartis AG, Sanofi, AstraZeneca Plc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Amgen, Inc., Bayer AG, Pfizer, Inc., and Spectrum Pharmaceuticals Inc. are major players of the global encephalomyelitis market.