Akrimax Pharmaceuticals, LLC. (US), AstraZeneca (UK), Cutting Edge Laser Technologies (US), Linline Medical Systems (France), Novartis AG (Switzerland), Pfizer Inc. (US), Pierre Fabre (US) and Quanta System S.p.A. (Italy) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Hemangioma Market.
Hemangioma Market – Overview
According to a recent study report published by the Market Research Future, The global market of Hemangioma is projected to accrue at a rapid pace during the forecast period. The Market is forecasted to account for upsurge accretions of US$ 294.8 million by 2023with a CAGR of ~ 3.2 % during 2017 and 2023.
Hemangioma sometimes also known as infantile Hemangioma, are noncancerous growth of veins (blood vessels). It basically an extensive growth or tumours in youngsters, especially new born. They usually grow for a period of time and then subside without treatment. Hemangioma on skin occurs in 5-10% of infants worldwide. However, Hemangioma on the liver occurs in adults, especially in women it develops during pregnancy or when nearing to menopause. Formed in or on the surface of liver, Hemangioma are said to be incurred due to the prescribed medicine during menopause to increase the estrogen level to subside symptoms caused by lowered levels of their natural estrogen. The additional estrogen can spurt in to liver hemangioma. Sometimes even oral contraceptive pills can increase the size of Hemangioma. The Hemangioma market is rapidly growing currently and gaining a huge traction owing to the rising prevalence of Hemangioma. The Hemangioma market is accruing and expected to gain further prominence over the forecast period.
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The Hemangioma market is increasingly driven by the advancement in technology that led to the advent treatments. Additionally, growing awareness towards the disorder and treatment, coupled with the novel drugs and therapies, and rapidly changing medical technology are some of the prominent driving forces of the global Hemangioma market. Moreover increasing investment transpired in R&D activities to develop innovative drugs and therapies to treat the disorder is providing added impetus to the Market growth. Besides changed or heady life style mirrors the symptoms of the disorder, defining the need of treatment eventually, fostering the market growth of Hemangioma.
Hemangioma doesn’t cause issues in most of the cases. But in some, Hemangioma may bleed open or ulcerate resulting in to excruciating (pain). Contingent upon their size and area, they might deform. Also, Hemangioma may prevail with different anomalies of the central nervous system or spine. The growth may similarly happen with other interior hemangioma affecting internal like liver, different parts of the gastrointestinal system, the brain, or organs of the respiratory system. The hemangioma that affect organs normally don’t cause issues.
Hemangioma Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Hemangioma appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing and reputation. The Market demonstrates high growth potential which is likely to attract several new entrant in the market. Further resulting in intensified completion. Top players are investing heavily in R&D and clinical trials to develop effective drugs to treat Hemangioma. Top players are holding the largest market share while other small and medium size companies are also growing. Pharma companies operating in the market are researching and developing innovative medications and new therapeutic approaches that help make a difference to people’s lives. These companies strive to discover innovative drugs and treatments that can improve the quality of life for patients. These also focus on therapeutic areas with a high unmet medical need, areas that require further innovation despite the progress that has been made.
Innovation/Industry News
November 13, 2017 – Researchers (USA) led by Kelley K. Hutchins, D.O., M.P.H., of Wayne State University School of Medicine, reported that Sirolimus may reduce refractory hemangiomas.
November 08, 2017 – Specialists from the Faculty of Chemical Sciences and Engineering of the Autonomous University of Baja California (UABC) designed a topical treatment for infantile hemangioma, whose effectiveness has been proven with 120 patients under six months. The topical treatment is clear from the research that began five years ago to test the effectiveness of a solution developed with propranolol to treat infantile hemangioma, a collaborative project of a multidisciplinary group of specialists led by Dr. Esbeydy García, in Hospital patients Children of the Californias .
Hemangioma Market – Segments
The Hemangioma Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Type : Comprises Capillary Hemangioma, Cavernous Hemangioma (Cerebral Cavernous Malformations, Liver Cavernous Hemangioma, Eye Cavernous Hemangioma), Compound Hemangioma, Lobular Capillary Hemangioma (Pyogenic Granuloma and other.
Segmentation By Treatment : Comprises Medical Therapy (Systemic, Intralesional and Topical), Laser Therapy (Flash Lamp Pulsed Dye Laser, Intralesional Laser, Carbon Dioxide Laser), Surgery, and other.
Segmentation By Diagnosis : Comprises Ultrasound, MRI, CT scan, and other.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Hemangioma Market – Regional Analysis
Considering the global scenario of the market, due to continuous innovation and rapid adoption of new drugs and therapies, North America is holding largest market for Hemangioma. In North America region, US attributes largest market share. European market is second largest, and especially the growth rate is higher in west European countries. On the other hand, developing healthcare infrastructure, and increasing healthcare spending, the Asia-Pacific (APAC) is fastest growing market for Hemangioma and expected to grow significantly during the forecast period. Middle East and Africa (ME&A) is likely to have a limited growth in the market due to less awareness of treatment and products.
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