Sturge Weber Syndrome Market Overview
The Sturge Weber Syndrome Market is evaluated to grow at a CAGR of 5.10%. With the support from major drivers such as the rising prevalence of glaucoma, epilepsy, the Sturge Weber Syndrome Market will rise to significant value in the studied forecast period 2022-2030. Sturge Weber syndrome is a congenital disorder. It is characterized by eye complications, port-wine stain birthmark, and others.
As per the Sturge Weber Syndrome Market Analysis by MRFR, it is estimated that North America will lead the market. However, the Asia-Pacific region is projected to record the fastest growth in the upcoming years. According to World Health Organisation (WHO), approximately 30 million people across the European Union countries were having a rare disease. As a result, the growth of the Sturge Weber Syndrome Market is evaluated to simultaneously increase in the forecast period.
The increase in the spread of COVID-19 disease led to huge havoc across the world. Due to this, the focus of the healthcare sector shifted to contain the spread. Furthermore, it also reduced the Sturge Weber Syndrome Market Growth significantly. However, with the rising emphasis and support by the government, it is anticipated the market will have considerable growth. Also, the steps taken by the key players will further enhance the market growth.
Important factors such as increasing cases of rare diseases and rising awareness among people will drive the market growth. Also, the increasing technological advancements are estimated to enhance the Sturge Weber Syndrome Global Market Growth.
Factors such as high costs for the treatment of sturge weber syndrome are evaluated to slow down the growth of the Sturge Weber Syndrome Market. Along with that, the side effects related caused by the drugs for the treatment are also estimated to restraint the market growth.
There are various opportunities such as increasing Sturge Weber Syndrome Global Market Trends with increasing funds by the support from governments and key players. These funds will be helpful for development and research to boost the Sturge Weber Syndrome Market Outlook.
One of the major challenges for the Sturge Weber Syndrome Market is the disruption in the supply chain. Along with that, problems can occur in the development, and research is speculated to hinder the market growth.
According to Sturge Weber Syndrome Market Forecast, the market value is estimated to reach up to USD 230 Million. The Compound Annual Growth Rate (CAGR) is further evaluated to rise up to 5.5% by the end of the projected forecast period 2021-2028. Increasing awareness for the treatment of rare diseases will impact the market positively.
Value Chain Analysis
With the improvement in the Sturge Weber Syndrome Market Trends and technological advancements, the market will expand in the future. Also, the rising demand for better healthcare facilities and crucial strategies by key players are estimated to enhance the value chain of the market.
Global Sturge-Weber syndrome market Size, by End User, 2017 (USD Million)
Source: MRFR Analysis
The Sturge Weber Syndrome Market Size is divided into treatment and diagnosis, end-user, and type. On the basis of Type, the market is divided into Type 2, Type3, and Type 1.
On the basis of end-user, the Sturge Weber Syndrome Market is divided into Diagnostic Centres, Clinics and Hospitals, and Others. In the year 2017, the clinics and hospitals segment accounted for a market value of USD 1,257.72 Million. Therefore, the revenue of this section will further increase in the forthcoming years.
On the basis of Treatment, the Sturge Weber Syndrome Market is divided into Surgical Procedure, and Laser Therapy. The laser treatment is further divided into medication which is again divided into Antiglaucoma and Antiepileptic. Furthermore, Antiglaucoma is divided into carbonic Anhydrase Inhibitors, Beta Antagonist Eye Drops, and Latanoprost.
The Diagnosis segment of the Sturge Weber Syndrome Global Market is divided into Skull Radiography, Magnetic resonance imaging (MRI), Electroencephalogram, and Computed Topography.
Geographically, the Sturge Weber Syndrome Market Size is divided into Asia-Pacific, North America, Africa, and the Middle East, and Europe. According to the Sturge Weber Syndrome Global Market Analysis by MRFR, North America will dominate the market in the upcoming years of the forecast period 2021-2028. The increasing research for the funds for treating rare diseases and technological development is the crucial driver.
Secondly, Europe is estimated to have the second-largest Sturge Weber Syndrome Market Share in the estimated forecast period. Several driving factors such as increasing expenditure for healthcare, support from the government are fuelling the market growth in this region.
However, the Asia-Pacific region is evaluated to have the fastest growth in the upcoming years. Due to the rising demand for early diagnosis and improvement in technology, the market will record immense growth. Also, countries such as India, China, Japan, etc. are contributing to the immense Sturge Weber Syndrome Global Market Growth. Also, the supportive funds and initiatives by the government will further boost the market growth in Asia-Pacific.
Asia-Pacific Sturge-Weber syndrome market Share, by Country, 2017 (%)
Source: MRFR Analysis
The key players in the Sturge Weber Syndrome Market apply various market strategies to improve their business. They do mergers, partnerships, collaboration, new ventures, and product launches, acquisitions, etc. Some of the important key players in the Sturge Weber Syndrome Market are as follows.
The overview of the Sturge Weber Syndrome Market Outlook is as follows.
Report Score and Segmentation
The report score is to provide significant information to support the Sturge Weber Syndrome Market Analysis. It highlights valuable information such as drivers, opportunities, challenges, etc. the information provided in this report is collected from secondary and primary sources.
|Market Size||Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Diagnosis & Treatment, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Abbott (US), Pfizer Inc. (US), F. Hoffmann-La Roche AG (Switzerland), Novartis AG (Switzerland), UCB SA (Belgium), Sanofi (France), Shire (Ireland), Aleva Neurotherapeutics SA (Switzerland), GW Pharmaceuticals, PLC (US), ElectroCore LLC (US), and Johnson & Johnson (US)|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Sturge-weber syndrome market is projected to grow at a 5.10% CAGR between 2022-2030.
The Americas is expected to dominate the sturge-weber syndrome market.
Sturge-weber syndrome market is predicted to touch Significant by 2030.
Hospitals and clinics will dominate the sturge-weber syndrome market.
Certain side effects may limit the sturge-weber syndrome market growth.
Global Struge-Weber Syndrome Market: Competitive Landscape
UCB S.A., Shire Plc, and Sanofi S.A. collectively accounted for more than 46% of the market share of the global Sturge-weber syndrome market in 2017. These companies continue to retain their strong global presence through collaborations, mergers & acquisitions, and product launches.
In 2017, UCB S.A. was the leading market player. The company holds more one-fourth market of the global struge-weber syndrome market. Through the years, UCB S.A has established itself as a major brand with a robust product portfolio, and strategies for patient value. In the last few years, the company has adopted an organic strategy of acquisitions and partnerships with small and large companies. For instance, in 2018, UCB Pharma Ltd. announced the acquisition of midazolam nasal spray with Proximagen to expand its epilepsy portfolio.
In 2017, Shire plc held the second position in terms of market share. The company develops drugs for rare diseases and aims to provide breakthrough therapies that enable people with altering conditions to live their lives to the fullest. It focuses on developing and distributing innovative products which differentiates it from other players around the globe. For instance, in July 2017, the company announced that it had gained FDA approvals for MYDAYIS, which is used for patients aged 13 and above for the attention deficit hyperactivity syndrome. This also allowed the company to market products in the U.S. and other FDA regulated markets. The company also has a huge product portfolio that helps it gain a competitive edge in the global market.
Sanofi S. A. a prominent market participant mainly focuses on strategies of diversifying, discovering, developing, and distributing therapeutic solutions. It also focuses on collaborations to expand its portfolio. In this regard, in March 2018, the company announced the complete acquisition of Bloveratlv Inc. which helps in expanding its portfolio in the specialty care segment.
There are several other players present in the market that are also actively implementing growth strategies and striving for a greater market share, some of them include Abbott Laboratories, Pfizer Inc., F. Hoffmann-La Roche AG, Novartis AG, Aleva Neurotherapeutics SA, GW Pharmaceuticals, plc, ElectroCore LLC, and Johnson & Johnson. These companies are continue to seek regulatory approval for newly developed products and focus on M&A to solidify their position in the market. New product development is a key focus area for players as the demand for more effective treatment continues to grow.