Global Encephalomyelitis Market Overview
The global encephalomyelitis market insights report anticipates the industry to elevate at an 7.50% CAGR over the forecast period of 2022-2030 and is expected to hit USD 61261.88 Million by 2030, as per Market Research Future (MRFR) in their latest analysis.
Inflammation of the brain and spinal cord is called encephalomyelitis. Encephalomyelitis has a number of causative factors such as bacterial and viral infection, among others. In the past few years, the prevalence of encephalomyelitis is increasing, which has led to the disease to get larger awareness. World Health Organization has reported that around 4.3 million people worldwide suffer from encephalomyelitis. In the initial stages of encephalomyelitis, the person is bound to witness symptoms such as headache, confusion, fever, and in worse cases, hallucinations, memory loss, and trouble with speech.
Other factors leading to the fast-paced growth in the encephalomyelitis market include an increase in the prevalence of autoimmune diseases such as AIDS and Lyme diseases. People suffering from such diseases are highly prone to catching encephalomyelitis due to a weakened immune system. On the other hand, an ascension noted in the geriatric population is estimated to contribute to the growing encephalomyelitis market. Increasing government support and faster technological developments are expected to push sizeable growth in the global encephalomyelitis market. Alternatively, a high cost of treatment and the unavailability of one form of proven treatment is likely to restrain the market from expanding.
Market Segmentation
The global encephalomyelitis market is studied for various segments for a detailed and accurate analysis. Such segmentation has been done by types, end-users, and treatment. Based on types, the global encephalomyelitis market is segmented into acute disseminated encephalomyelitis, encephalomyelitis disseminates, antismog associated encephalomyelitis, equine encephalomyelitis, and AIDS-related encephalomyelitis. Based on treatment, the global encephalomyelitis market is segmented into plasmapheresis, surgery, and drug treatment. The segment of drug therapy is further segmented into antibiotics, antiviral medication, sedatives, NSAIDS, mood stabilizers, and steroids. Based on end-users, the global encephalomyelitis market is segmented into clinics and hospitals.
Detailed Regional Analysis
The global encephalomyelitis market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas are likely to dominate the encephalomyelitis market over the forecast period owing to the rising prevalence of patients with encephalomyelitis and other autoimmune diseases. Such a growing prevalence of patients has encouraged the government to announce initiatives to support manufacturers for the development of advanced and effective drugs. Also, high healthcare expenditure, well-developed healthcare infrastructure, and strong support for research and development are likely to fuel the regional encephalomyelitis market over the assessment period.
Europe is estimated to capture the second-largest share in the global encephalomyelitis market over the review period. Attributing to the availability of funds, elevated need for better treatment options and encouraging government support are estimated to drive growth in the regional encephalomyelitis market. The UK, France, and Germany are estimated to lead the country-specific encephalomyelitis market over the forecast period.
Asia Pacific is assessed to account for the third-largest share in the global encephalomyelitis market during the conjecture time. The region is also anticipated to gather the fastest growth in the global encephalomyelitis market. This can be owed to the rise in the prevalence of encephalomyelitis and other autoimmune diseases. Further, rapid growth noted in different countries, and an escalation in the healthcare expenditure is expected to fuel growth to the regional encephalomyelitis market.
The Middle East & Africa is anticipated to hold the smallest share in the global encephalomyelitis market. Owing to lower availability of funds, poor medical facilities, and poor political conditions in Africa, the market for encephalomyelitis is likely to ascend at a lower rate as compared to the rest of the world.
Key Players
The global encephalomyelitis market outlook report has profiled many prominent key players, including Bristol-Myers Sanofi (France), Squibb Company (U.S.), GlaxoSmithKline Plc. (U.K), Amgen, Inc. (U.S.), Spectrum Pharmaceuticals Inc. (U.S.), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Bayer AG (Germany), Eli Lilly and Company (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), AstraZeneca Plc. (U.K), AbbVie Inc. (U.S.), Janssen Biotech, Inc. (U.S.), Takeda Pharmaceuticals (Japan), Pfizer, Inc. (U.S.), Immunomedics (U.S.), and Oncomed Pharmaceuticals (U.S.).
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