Number of pages: 100 | Report Format: PDF | Published date: November 15, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 3.2 billion |
Revenue forecast in 2030 |
US$ 4.25 billion |
Growth Rate |
CAGR of 3.2% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Segments covered |
disease type, type, end user, and region. |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global cerebral palsy market was pegged at US$ 3.2 billion in 2021 and is expected to witness a CAGR of 3.2% during the forecast period.
Market Fundamentals
Cerebral palsy is a term that describes a collection of neurological disorders that impede muscular movement and coordination. Damage to an infant's immature growing brain can result in cerebral palsy. In addition, asphyxia neonatorum, bleeding into the brain, brain infections, and severe jaundice in neonates are also possible causes of cerebral palsy.
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Market Dynamic
The primary driving factor responsible for the global cerebral palsy market expansion is the global rise in cerebral palsy prevalence. Another factor influencing market growth is the increased focus on healthcare technological advancements together with the expanding accessibility of innovative cerebral palsy medications. Government campaigns to raise awareness, improved research and development capabilities, and an increased reliance on drugs to treat symptoms will all lead to profitable global cerebral palsy market expansion potential.
However, the high cost of drugs will slow the cerebral palsy market's expansion. Additional obstacles for the market will come from the side effects of the drugs, such as sleepiness, depression, headaches, lethargy, confusion, and dizziness. Additionally, a lack of awareness in poor and backward economies would slow market expansion.
Market Ecosystem
The global cerebral palsy market has been analyzed from three perspectives: disease type, type, end user, and region.
Cerebral Palsy Market by Disease Type
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Based on disease type the global cerebral palsy market has been subdivided into, spastic cerebral palsy, dyskinetic cerebral palsy, ataxia cerebral palsy, mixed cerebral palsy, and others. The spastic cerebral palsy segment dominates the global cerebral palsy market. This is because most the cerebral palsy are suffering from spastic cerebral palsy, which results in stiffness of limb muscles causing difficulty in walking.
Cerebral Palsy Market by Type
Based on type, the global cerebral palsy market has been divided into diagnosis and treatment. The diagnosis segment is further divided into, brain scans (MRI, CT, cranial ultrasound), electroencephalograms, and laboratory tests. The treatment segment is further divided into medications and another segment like surgery. The diagnosis segment dominated the global cerebral palsy segment. This is attributed to the introduction of various advanced diagnostic procedures available in the market.
Cerebral Palsy Market by End User
Based on the end user, the global cerebral palsy market has been divided into hospitals, specialty clinics, physiotherapy centers, diagnostic laboratories, and others. The hospital segment dominates the global cerebral palsy market. This is attributed to the large patient footfall and availability of advanced diagnostic machinery and drugs in the hospital.
Cerebral palsy Market by Region
Based on region, the global cerebral palsy market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. Most of the global market for cerebral palsy products is in North America. The country's high frequency of cerebral palsy is driving up demand for its treatments. As a result, pharmaceutical companies are making major investments in the therapeutic sector, which will greatly influence the market. Rising investments in the industry under study will spur innovation and increase access to cerebral palsy treatments, which will grow the market.
Competitive Landscape
Some of the prominent players operating in the global cerebral palsy market are: -
Strategic Developments
• SpineX revealed its first-in-human trial in October 2022, which supports the use of their specialized non-surgical treatment for cerebral palsy in youngsters (CP).
• In February 2022, Hearts & Minds Investments Limited and the Cerebral Palsy Alliance Research Foundation (CPA) signed a significant new cooperation agreement. This relationship will support creative research that aims to transform newborn intensive care around the world.
The global cerebral palsy market is expected to grow at a CAGR of 3.2% in the forecast period.
Ipsen Biopharmaceuticals, Inc., Supernus Pharmaceuticals, Inc., Revance Therapeutics, etc. are a few key players in the global cerebral palsy market.
The diagnostics segment dominates the global cerebral palsy market.
Asia Pacific region is expected to witness the highest global cerebral palsy market growth in the forecast period.
*Insights on financial permanence are subject to the availability of information in the public domain