iCrowdNewswire Jan 25, 2021 7:00 AM ET
Increasing prevalence of neurological/brain disorder like epilepsy, rising need for better treatment, increasing investment of biotechnology and pharmaceutical industries in R&D, and availability of funds drive the growth of the market. Moreover, increasing government support for research & development, changing lifestyle, and rapid development of technology is likely to fuel the market growth during the forecast period.
The number of hospitals has increased to a great extent, which is influencing the growth of the market positively. Moreover, increasing demand for better treatment and changing reimbursement policies have fueled the market growth. According to National Institute of Neurological Disorders and Stroke, it is estimated that 13%-16% of the United States suffer from brain disease/disorder.
The global encephalomalacia market is expected to grow at a CAGR of ~6.1% during the forecast period 2017-2023.
The global encephalomalacia market is segmented on the basis of types, diagnosis, treatment, and end user. On the basis of the type, it is segmented into leukoencephalomalacia (encephalomalacia affecting the white matter), and polioencephalomalacia (encephalomalacia affecting the gray matter).
On the basis of diagnosis, it is segmented into blood test, brain scans, and others. A brain scan is further segmented into computerized tomography (CT) scan, magnetic resonance imaging (MRI) and electroencephalography (EEG). On the basis of treatment, it is segmented into medical treatment, surgery, and others. On the basis of the end user, it is segmented into hospitals & clinics, research laboratories, and others.
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The Americas dominate the global encephalomalacia market owing to the presence of a huge patient population, high health care spending, and increasing government support for research & development.
Europe holds the second-largest share of the global market. The increasing focus of various government agencies on treating various brain disorders or brain injuries such as epilepsy and depression will have a positive impact on the growth of the market. The growing public awareness will boost the adoption of these devices in the European market.
The Asia Pacific is the fastest growing encephalomalacia market across the globe. Japan holds the major share of the regional market due to the availability of technology and huge healthcare spending. Rapidly developing the economy, increasing healthcare expenditure, and government initiatives for research & development may drive the market in China and India over the assessment period.
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Some of key the players in the market are Fujifilm Holdings (Japan), GE Healthcare (U.S.), Siemens Healthcare(U.S.), Philips Healthcare (U.S.), Shimadzu Corporation (Japan), Toshiba Medical Systems Corporation (Japan), Carestream Health (U.S.), Nihon Kohden Corporation (Japan), Electrical Geodesics Inc. (U.S.), Masimo Corporation (U.S.), Hologic (U.S.), Esaote (Italy), and others.
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Keywords: Encephalomalacia Market, Encephalomalacia, Encephalomalacia Market Size, Encephalomalacia Market Share, Encephalomalacia Market Growth, Encephalomalacia Market Trends