The Global Parry-Romberg Syndrome Market is expected to grow at a CAGR of ~7.8% during the forecast period 2017-2023.
Parry-Romberg Syndrome Market Scenario:
Parry-Romberg syndrome is also known as progressive hemifacial atrophy. It is a rare disease, which is characterized by the shrinking and degeneration of the tissues beneath the skin. The changes and deterioration spread slowly and it occurs on one side and rarely extends to other parts of the body. General symptoms, includes facial changes, which involves the tissues above the upper jaw or between the nose and the upper corner of the lip and subsequently progress to the mouth, areas around the eye, the ear, and the neck. Currently, no cure and treatments are available for the parry-Romberg syndrome.
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Increasing prevalence of skin diseases, neurological abnormalities, and eye defects are the major driving factors for the growth of the market during the forecast period. Moreover, oral diseases also boost the market growth as the tissues of mouth, including the tongue, gingiva, teeth, and soft palate are commonly involved in Parry-Romberg syndrome.
According to the Centers for Disease Control And Prevention, skin diseases is the most common in the US and over 7% of skin related diseases that are tracked by skin cancer registries are adding fuel to the market growth.
According to the WHO, millions of people worldwide are affected by neurological abnormalities or disorder. More than 6 million people die because of stroke each year; over 80% of deaths take place in low and middle income countries, which will boost the market growth in developing regions.
On the other hand, high cost of current treatment methods, and long duration for complete cure, for instance, it takes one-two years for facial growth and after facial growth the surgery is preceded, which may hamper the market growth.
Parry-Romberg Syndrome Market Segmentation:
The global Parry-Romberg syndrome market is segmented on the basis of diagnosis, treatment, and end user.
On the basis of diagnosis, the market is segmented into physical examination, MRI, serum test, and other.
On the basis of treatment, the market is categorized into drug treatment, surgery, and others. The drug treatment is further segmented into methotrexate, corticosteroids, cyclophosphamide, azathioprine, and others. The surgery is sub-segmented into orthognathic surgery, microsurgical reconstructive surgery, and others.
On the basis of end user, the market is segmented into hospitals & clinics, physical therapists, and others.
The Worldwide Parry-Romberg Syndrome Market Regional Analysis
The Americas dominates the global Parry-Romberg syndrome market owing to the presence of huge geriatric population, increasing number of patient with neurological disorder, eye related disorders. Moreover, high healthcare speeding, advanced hospitals infrastructures, availability of skilled healthcare professional are boosting the growth of the market.
Europe accounts for the second largest Parry-Romberg syndrome market across the globe owing to increasing government support for research & development, and increasing investment in healthcare. As per Organization for Economic Co-operation and Development (OECD), the share of GDP to health spending in Germany was 11.0% in 2013, compared with a share of GDP was up from 10.8% in 2012, which is responsible for the growth of the market in this region.
Asia Pacific has the fastest growing market, increasing government support for research & development, increasing prevalence of skin diseases, eye related diseases, and huge population base and rapidly developing economy drives the growth of the market in this region. Developing countries in this region are focusing more in the development of healthcare domain for instance country such as India.
The Middle East & Africa is expected to show the least market share due to less availability of medical facilities, and less development in healthcare domain.
Parry-Romberg Syndrome Market Key Players:
Some of the key players in this market are DePuy Synthes (U.S.), Johnson & Johnson Services, Inc. (US), Medtronic (Ireland), Abbott (US), Immediate Media Company Ltd. (US), Taj Pharmaceuticals Ltd., Pfizer, Inc., Sanofi-Aventis, Biogen, Inc., GlaxoSmithKline, Inc., and AstraZeneca plc.
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