ID: MRFR/MED/5028-HCR | 90 Pages | Published By Rahul Gotadki on March 2023
Transverse myelitis market is expected to grow at a steady pace over the forecast period. It is projected to grow at a CAGR of 3.2% over the assessment period. Transverse myelitis is a neurological disease caused by inflammation of both sides of one section of the spinal cord. This condition generally damages the insulating material covering the nerve cell fibers (myelin). Transverse myelitis can occur at any age. According to the Columbia University Department of Neurology, this disease most often occurs in children ages 10 to 19 years and in adults aged 30 to 39 years. The inflammation leading to transverse myelitis can result as a side effect of a number of other conditions such as measles, viral infections, lyme disease, syphilis, viral infections, and bacterial infections among others. The common symptoms of the disease include back or neck pain, weakness in arms or legs, abnormal sensations in the legs, loss of bowel control and sensory symptoms such as numbness.
The factors such as growing prevalence of transverse myelitis, rising prevalence of diseases which can lead to transverse myelitis such as viral infections and some cancers, increasing in research and development activities, and rising expenditure on healthcare sector by the government in developed as well as developing economies is expected to fuel the transverse myelitis market. According to the National Multiple Sclerosis Society, it is estimated that about 1,400 new cases of transverse myelitis are diagnosed each year in the US. According to the same source, it is estimated that about 33,000 American population have some type of disability resulting from transverse myelitis.
Despite the drivers, high cost associated with the diagnosis and treatment of transverse myelitis can hamper the growth of the market over the assessment period.
The transverse myelitis market has been segmented into diagnosis, treatment, end user, and region.
The market, by diagnosis, has been segmented into magnetic resonance imaging (MRI), lumbar puncture, blood tests, and others.
The market, by treatment, has been segmented into intravenous steroids, plasma exchange therapy, antiviral medication, pain medications, physical therapy, occupational therapy, psychotherapy, and others. The pain medication has been further segmented into chronic pain medication and nerve pain medication. The chronic pain segment has been further segmented into acetaminophen, ibuprofen, and naproxen sodium. The nerve pain medication has been segmented into sertraline, gabapentin, and pregabalin.
On the basis of end user, the market has been segmented into hospitals & clinics, diagnostic centers, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The transverse myelitis market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European transverse myelitis market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The transverse myelitis market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The transverse myelitis market in the Middle East & Africa has been segmented into the Middle East and Africa.
Medtronic, Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International, Inc., Amgen Inc., Johnson & Johnson Consumer Inc., Bayer AG, Pfizer, Inc., Cerus Corporation, Haemonetics Corporation, GlaxoSmithKline, and Bristol-Myers-Squibb are some key players in the market.
Regional Market Summary
Transverse Myelitis Market Share (%), by Region, 2017
Source: Centers for Disease Control and Prevention (CDC), White Papers, Company Presentations
Geographically, the Americas is anticipated to dominate the transverse myelitis market owing to a well-developed healthcare sector, rising prevalence of transverse myelitis, and a relatively large number of research and development activities. According to the Centers for Disease Control and Prevention (CDC), total national expenditure was USD for 3.3 trillion in 2016.
Europe is expected to hold the second largest position in the transverse myelitis market. The market growth in this region is attributed to the rising incidence of transverse myelitis and rising government expenditure for the healthcare sector. According to the Transverse Myelitis Society, transverse myelitis has an incidence of 300 new cases per year in the UK.
The transverse myelitis market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Asia-Pacific is anticipated to be the fastest growing region in the market due to continuously developing economies, growing awareness about rare diseases, and increasing government funding for the healthcare sector.
On the other hand, the Middle East & Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector, increasing occurrence of transverse myelitis and growing government initiatives for the healthcare sector. According to an article published in the NCBI in May 2018, the adult prevalence rate for Emirati citizens was 2.46 per 100,000 citizens for monophasic transverse myelitis.
Transverse Myelitis Market, by Diagnosis
Transverse Myelitis Market, by Treatment
Transverse Myelitis Market, by End User
Transverse Myelitis Market, by Region
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Diagnosis, Treatment, End user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Medtronic, Inc., B. Braun Melsungen AG, Fresenius Kabi AG, Baxter International, Inc., Amgen Inc., Johnson & Johnson Consumer Inc., Bayer AG, Pfizer, Inc., Cerus Corporation, Haemonetics Corporation, GlaxoSmithKline, and Bristol-Myers-Squibb|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
Transverse Myelitis Market CAGR would be 3.2% during the forecast period.
The restraints would be the high cost of diagnosis and treatment for Transverse Myelitis Market.
The treatment types in the Transverse Myelitis Market are antiviral medication, intravenous steroids, plasma exchange therapy, physical therapy, pain medications, psychotherapy, occupational therapy, and others.
The end users are diagnostic centers, hospitals & clinics, and others.
The Americas would lead the Transverse Myelitis Market.