The Global Sturge-Weber Syndrome Market has been segmented on the basis of type, diagnosis & treatment, end-user, and region. By type, the market has been segmented into Type 1, Type 2 and Type 3.
Pune, India - July 16, 2018 /MarketersMedia/ —
The Global Sturge-Weber Syndrome (SWS) Market, which valued USD 1.67 Bn in 2017, is expected to reach an evaluation of USD 2.27 Bn by the end of 2023 and exhibit a moderate, yet significant CAGR of 5% during the forecast period of 2018 to 2023.
This projection indicates a steady upward trend for the market which is primarily due to the increasing demand for early diagnosis, awareness of the disorder and advancements in relevant healthcare technology.
The global SWS market has been segmented on the basis of type, diagnosis & treatment, end-user, and region. By type, the market has been segmented into Type 1, Type 2, and Type 3. In this segment, Type 1 accounted for the largest market share with an expected evaluation of 1.06 bn by the end of 2023. The Type 2 segment is expected to grow at the highest CAGR during the forecast period due to a similar growth pattern as Type 1 SWS.
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Regional Analysis
The Global Sturge-Weber Syndrome Market is led by North America due to its inclusion the U.S which has displayed considerable growth over the past few years. At the start of the review period, North America accounted for just under a third of the total market share and the region is expected to maintain its leadership position over the assessment period. The presence of a highly developed healthcare sector, major market players who are making significant investments in research and the high healthcare expenditure in the region are expected to promote the growth of various SWS market segments.
The Asia-Pacific, however, is the fastest growing market due to the presence of many developing countries in the region such as India and China which are encouraging of the growth in the healthcare sector. The region has increased awareness regarding rare conditions and is witnessing a growing demand for early diagnosis. Moreover, there is a strong demand for healthcare that is equivalent to that which is available in developed countries, this prompting growth.
Competitive Tracking
Prominent players of the global Sturge-Weber market include F. Hoffmann-La Roche AG, UCB S.A, Novartis AG, GW Pharmaceuticals, plc, Johnson & Johnson, Abbott, Pfizer Inc, Shire, ElectroCore LLC, Sanofi, Aleva Neurotherapeutics SA. Key strategies used by these players include acquisition and collaborations between existing prominent players. Additionally, the majority of the growth that has been facilitated in the competitive landscape includes substantial investments in research and development.
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Global Struge-Weber Syndrome Market: Competitive Landscape
UCB S.A., Shire Plc, and Sanofi S.A. collectively accounted for more than 46% of the market share of the global Sturge-weber syndrome market in 2017. These companies continue to retain their strong global presence through collaborations, mergers & acquisitions, and product launches.
In 2017, UCB S.A. was the leading market player. The company holds more one-fourth market of the global struge-weber syndrome market. Through the years, UCB S.A has established itself as a major brand with a robust product portfolio, and strategies for patient value. In the last few years, the company has adopted an organic strategy of acquisitions and partnerships with small and large companies. For instance, in 2018, UCB Pharma Ltd. announced the acquisition of midazolam nasal spray with Proximagen to expand its epilepsy portfolio.
In 2017, Shire plc held the second position in terms of market share. The company develops drugs for rare diseases and aims to provide breakthrough therapies that enable people with altering conditions to live their lives to the fullest. It focuses on developing and distributing innovative products which differentiates it from other players around the globe. For instance, in July 2017, the company announced that it had gained FDA approvals for MYDAYIS, which is used for patients aged 13 and above for the attention deficit hyperactivity syndrome. This also allowed the company to market products in the U.S. and other FDA regulated markets. The company also has a huge product portfolio that helps it gain a competitive edge in the global market.
Sanofi S. A. a prominent market participant mainly focuses on strategies of diversifying, discovering, developing, and distributing therapeutic solutions. It also focuses on collaborations to expand its portfolio. In this regard, in March 2018, the company announced the complete acquisition of Bloveratlv Inc. which helps in expanding its portfolio in the specialty care segment.
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