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Global Hemangioblastoma Market Analysis : Information by Tumor Site (Brain, Spinal Cord, and Retina), Diagnosis (CT Scan, MRI Scan, and Others), Treatment (Surgery, Chemotherapy, Radiotherapy, Corticosteroids, Anticonvulsants, and Others)–Global Forecast Till 2023
The Global Hemangioblastoma Market Analysis is expected to grow at the rate of 6.1% during the forecast period (2018–2023)
Hemangioblastoma is slow growing cancer which is mainly found in the brain, but it can develop into spinal cord and retina. Hemangioblastoma can form sporadically as well as it can be caused by genetic reason. It is more likely to affect people with Von Hippel–Lindau disease history. The increasing chronic diseases, increasing survival rate of cancer patients, increasing healthcare expenditure and demand for advanced therapies for the treatment of cancer are the major factors driving the growth of the global hemangioblastoma market. According to world cancer research fund international, in 2015, cancer was responsible for 8.8 million deaths and the second leading cause of death across the globe. Additionally, according to American cancer society, till 2018 the organization has invested more than USD 4.6 billion for the research and development activities to cure cancer.
The rising cost of cancer treatment and scarcity of experts is likely to hinder the market growth during the forecast period.
Hemangioblastoma Market Key Players
Some of the key players in the global hemangioblastoma market are Eli Lilly and Company, Bedford Laboratories, Astellas US Holding, Inc., DNAtrix, Inc., Advantagene, Inc., Burzynski Research Institute, Inc., Direct Therapeutics, Inc., Cellectar Biosciences, Inc., and others.
Hemangioblastoma Market Regional Analysis
The market in the Americas is expected to dominate the global hemangioblastoma market during the forecast period owing to the increasing prevalence of cancer along with the increasing healthcare expenditure, and well-established healthcare sector in the region.
The European market is expected to be the second-largest hemangioblastoma market. The market growth in this region can be attributed to government funding and support of the healthcare sector and increasing cancer cases in the region. According to the European Commission, in 2016, The European nations (EU28), total expenditure of general governments on 'healthcare' amounted to 7.1 % of GDP and it was around USD1000 billion.
According to the American Cancer Society, there will be an estimated 1,735,350 new cancer cases diagnosed and 609,640 cancer deaths in the United States. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, and technological advancement in the region. Germany is the most affected country in the region and it has the highest number of cancer patients. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological development, an increasing number of chronic diseases, and favorable government initiatives for healthcare facilities. Asia-Pacific region has a large number of patients and it can provide opportunities for the major players in the market. The market in the Middle East & Africa is likely to account for the smallest share of the global hemangioblastoma market.
Hemangioblastoma Market Segmentation
The global hemangioblastoma market has been segmented on the basis of tumor site, diagnosis, and treatment.
On the basis of the tumor site, the market has been classified as brain tumor, spinal cord tumor, and retinal tumor. A brain tumor is most common in all the three segments. The diagnosis segment has been classified as CT scan, MRI scan, and angiogram. According to the stage of cancer, experts can ask for multiple diagnostic tests.
The market, by treatment, has been segmented into surgery, chemotherapy, radiotherapy, corticosteroids, and anticonvulsants. Radiotherapy segment has been classified into conformal radiotherapy, intensity modulated radiotherapy (IMRT), stereotactic radiotherapy and radiosurgery. Corticosteroid segment has been further divided into hydrocortisone, dexamethasone, methylprednisolone, and prednisolone. Anticonvulsants segment has been further divided into carbamazepine, lamotrigine, levetiracetam, phenytoin, and sodium valproate.