The global Chiari Malformation market is expected to grow at a CAGR of 8.2% during the forecast period.
Chiari Malformation is a malformation or structural defect in which the brain tissue extends into the spinal canal. It occurs in the base of the skull and cerebellum (part of the brain that controls balance). Chiari malformations develop when part of the skull is smaller than the usual size, which forces the cerebellum to be pushed down into the foramen magnum and spinal canal.
Chiari Malformation can be caused by various reasons. Primarily it occurs due to improper fetal development which can be a result of genetic mutations or a maternal diet that was devoid of certain vitamins or nutrients. Additionally, traumatic injury, disease, or infection can lead to Chiari Malformation.
The global Chiari Malformation market is estimated to lead a healthy growth. The global Chiari Malformation market is majorly driven by the increasing geriatric population, rising global population, and rising injuries and infections due to road mishaps. According to the U.S. Population Reference Bureau, the number of Americans aged 65 and older is projected to be 98 million by 2060 from 46 million as of 2014. Similarly, the 65-and-older age group will rise to nearly 24 % by 2030 from 15 % as of 2015.
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North America holds the maximum share of Chiari Malformation market in the Americas region. On a regional basis, Americas region is segmented into North America and South America. North America is segmented into the U.S. and Canada. Increasing number of geriatric population and growing diabetic mass has increased the scope of the Chiari Malformation market in North America.
Europe accounts for the second largest share in the global Chiari Malformation market. The European market is expected to grow a steady growth during the forecasted period.Factors such as government initiatives to enhance and develop new products, educate masses regarding rare diseases and campaigns to raise awarness regarding neurological disorders is fuelling the growth of global Chiari Malformation market.
Asia Pacific is expected to be the fastest growing market due to increasing incidence of chronic diseases. India is the fastest growing region owing to an rising population. Additionally, rising awareness about the health and availability of new treatment methods is likely to drive the market in this region.
The Middle East & Africa is expected to show slow and steady growth in the market . Major factors that are hampering the growth are lack of awareness regarding rare diseases, and limited access and affordibility of treatment facilities. In the Middle East, United Arab Emirates has garnered the largest market share owing to the development of healthcare infrastructure and rising number of specialty care centers.
Some of the key players in fu market are Abbott Laboratories, Inc., Becton, Dickinson and Company, Novartis AG, Johnson & Johnson, Pfizer, Inc., Sanofi-Aventis, and GlaxoSmithKline among others.
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The global Chiari malformations infection market is segmented on the basis of type, treatment, diagnosis, and end-users.
On the basis of the type, the market is segmented type I, type II, type III, type IV. On the basis of treatment, the market is segmented into Medications and Surgery. Surgery is further sub-segmented into Posterior fossa decompression, Electrocautery, and Spinal laminectomy.
On the basis of diagnosis, the market is segmented into X-Ray, CT scan, and MRI.
On the basis of end user the market is segmented into hospitals & surgical centres, research Institutes, and specialty clinics.
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