Fibromuscular dysplasia is an abnormal cell growth in the walls of their medium and large arteries. Fibromuscular dysplasia can trigger various complications, such as high blood pressure, arterial dissection, and many others.
A number of factors such as rising prevalence of fibromuscular dysplasia and increasing R&D expenditure, increasing government assistance, rising healthcare expenditure, improving regulatory framework, and rising funding and reimbursements are propelling the growth of the global fibromuscular dysplasia market.
However, side-effects of treatment, the presence of misbranded and spurious drugs, expiration of patented drugs, and poor healthcare system in low and middle-income countries may hamper the growth of the market.
It is estimated that the fibromuscular dysplasia market is expected to grow at a CAGR of 7.5% during the forecast period of 2017-2023.
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The Americas dominate the global fibromuscular dysplasia market owing to the rising prevalence of fibromuscular dysplasia and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total healthcare expenditure in the United States was reported to be USD 3.2 trillion, and hospital care accounted for a share of 32.3%.
Europe holds the second position in the fibromuscular dysplasia market. It is expected that the support provided by the government bodies for research & development and improvement in the reimbursement policies in the healthcare are likely to drive the market of the European region.
The Asia Pacific region is the fastest growing fibromuscular dysplasia market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also increasing in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which wass 3.6% higher than the expenditure of 2014-2015.
The Middle East & Africa holds the least market share of the global market due to lack of technical knowledge and poor medical facilities.
The global fibromuscular dysplasia market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is classified as multifocal fibromuscular dysplasia, and focal fibromuscular dysplasia.
On the basis of the diagnosis, the market is classified as physical examination, blood test, catheter-based angiography, doppler ultrasound, computerized tomography (CT) angiogram, magnetic resonance imaging (MRI), and others
On the basis of the treatment, the market is classified as surgery, medication, and others. The surgery segment is further sub-segmented into percutaneous transluminal angioplasty (PTA), and surgical revascularization. The medication segment is further sub-segmented into angiotensin-converting enzyme (ACE) inhibitors, angiotensin II receptor blockers, diuretics, calcium channel blockers, and beta blockers.
On the basis of the end-user, the market is segmented into hospitals & clinics, diagnostic centers, drug stores, pharmacies, and others.
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Some of the key players in the global fibromuscular dysplasia market are Alkermes Pharma Ireland Limited, ALVOGEN, Aspen Surgical Products, Inc., AstraZeneca, B. Braun Melsungen AG, Bayer Healthcare Pharmaceuticals Inc., Becton, Dickinson and Company, Bristol-Myers Squibb, Dainippon Sumitomo Pharma Co., Ltd, Ethicon, Inc., Merck, Novartis, Pfizer, Sanofi-Aventis, Smith & Nephew plc; Medtronic, Stryker Corporation, and Watson Pharma Private Limited.
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