Metastases spinal tumor is one of the most common problems in oncology. Approximately 5%-10% of the cancer patients face spinal metastases disease. Most of the metastatic spinal tumors are developed outside the dura (extradural). Around 70% of the spine tumors occur in the thoracic region, while 20% in the lumbar, and 10% in the neck region. Some of the common symptoms of metastases spinal tumor are back pain, tingling or numbness, and weakness. The Global Metastases Spinal Tumor Market is segmented on the basis of type, which comprise extradural, metastatic spinal tumors of the bone, and others. The global metastases spinal tumor market is expected to grow at the CAGR of ~3.2% during the forecast period and is estimated to reach USD 1547.8 million by 2023.
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Early diagnosis can provide better treatment management of this disorder. Major diagnostic solution provider companies are engaged in developing and launching new medical imaging devices. Introduction and rapid adoption of advanced diagnostic devices are driving the market growth. Increasing research, clinical trials, and new solution development in the field of oncology drive the market. Additionally, growing demand for diagnostic devices and treatment from emerging markets of Asia and Latin America add fuel to the growth of the market.
Some of the key players in this market: F. Hoffmann-La Roche Ltd (Switzerland), Amgen Inc. (US), Novartis AG(Switzerland), Abbott (US), Beckman Coulter Inc. (US), Debiopharm Group (Switzerland), AbbVie Inc. (US), Bayer AG (Germany), and others.
Regional Analysis of the Global Metastases Spinal Tumor Market
The Americas dominate the global metastases spinal tumor market. A spinal tumor is a severe medical problem in Americas. North American countries such as the US and Canada dominate the market, while, Latin America region is also growing significantly. Due to highly advance medical facilities, focus on research and clinical trials, and upcoming healthcare bill, the US is expected to remain top revenue generating country in the global metastases spinal tumor treatment. Increasing number of patients with metastases spinal tumor is one of the major drivers for the Latin American market.
Europe is the second largest market for Metastases Spinal Tumor Treatment Industry. This region is mainly divided into Eastern Europe and Western Europe. The West European countries dominate this market while East European countries also show significant growth. Increasing prevalence of spinal tumor is primarily driving the market growth. Furthermore, some other factors such as availability of advanced healthcare facilities and high expenditure on the health care are driving the growth of the market.
Asia Pacific region is one of the high potential markets in the healthcare sector. This region is showing exceptional growth in almost every product and services mainly related to medical field owing to rising middle-class population and their spending on healthcare and related services. Additionally, increasing awareness about the disease drives the growth of the market. The Governments of different countries are focusing on improvement of public health by providing the subsidy for affordable healthcare as well as running awareness campaign, which, in turn, leads the growth of the market. Some other factors such as increasing cases of metastases spinal tumor, improving healthcare infrastructure, and availability of affordable healthcare facilities are also boosting the market growth. Owing to availability of the cost-effective healthcare facilities, patients from various high-income nations are flying to get affordable treatments, which, in turn, boost the medical tourism in this region.
Lack of awareness about the disorder and limited availability of required healthcare facilities are major restraints for the Middle East & Africa metastases spinal tumor market.
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