Fact.MR, a global research & consulting firm, in their updated edition of the report, projected that the facial spasm treatment market is slated to grow steadily in 2021 & beyond. This expansion can be mainly attributed to ongoing research as well as enhanced methods for diagnosis in tandem with improved treatment options. Untouched markets such as Middle East and Africa and Asia-Pacific will additionally assist in the expansion of facial spasm treatment industry.
“Easy accessibility of diagnostics tools for instance MRI scans for the aneurysms and tumors detection triggering nerve contraction, accessibility of electromyograms, as well as nerve velocity conduction research are projected to propel demand for facial spasm treatment industry in 2021 and beyond.” states Fact.MR.
Rise in Incidence Rates of the Disorder to Bolster Demand
Across the globe, the pervasiveness of facial spasm is 9.8 per 100,000, this rising prevalence rate of the disorder is projected to fuel the expansion of facial spasm treatment industry. Facial spasm affects both women and men, however, it is generally foreseen in women aged 40 years & above.
Furthermore, rise in middle aged (over 40 years of age) & geriatric population is likely to further fuel facial spasm treatment industry. Growing awareness regarding to the condition and its therapy is further ascribed to facial spasm treatment industry.
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Will Botulinum Toxin Boost Demand for Facial Spasm Treatment?
The botulinum toxin is projected to foresee increased demand in the facial spasm treatment industry due to superiority over other drug types. Also, botulinum toxin (BTX) injections are frequently utilized in treatment in cases when condition gets worse. Botulinum toxin therapy is gaining traction more in women than men, as small amounts of botox are injected into the facial area near the muscle which is causing the twitching.
Carbamazepine is also gaining market share as it is the most commonly utilized drugs for the treatment of facial spasms.
The US will Remain Lucrative in the Facial Spasm Treatment Industry
The US is likely to remain the most lucrative market due to easy accessibility of anticonvulsants drugs, swiftly increasing aging population, and well-established health care amenities in the region. The UK and Germany has a fair share in facial spasm treatment industry. It is projected that the support offered by the government bodies for R&D and development in healthcare reimbursement policies will drive the region’s growth.
Largely, untraced occurrence in regions such as India, China, Australia & New Zealand, GCC, and S. Africa, is accredited to future facial spasm treatment industry expansion. Increasing older and middle-aged population in rising economies such as China and India is further likely to contribute considerably in the industry.
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R&D and Geographical Expansion Remains Key Focal Area: Fact.MR Survey
The facial spasm treatment market is highly consolidated in nature with the presence of very few companies accounting for a significant share. Fact.MR’s survey indicated that the leading market players are focusing on research & development and geographical expansion to offer enhanced treatment option, in 2021 and beyond. The latest edition of the report offers comprehensive coverage of the anticipated to remain the significant strategies of market players. Some of the players profiled in the report are Novartis, Allergan, Pfizer Inc., Genentech, Inc. and Roche. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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