The Global Chorea Market is expected to grow at a CAGR 11.4% during the forecast period of 2017-2023.
Chorea is an abnormal involuntary movement characterized by brief, abrupt, unpredictable, irregular, non-stereotyped movements. Chorea may worsen with anxiety and voluntary movements, and subsides during sleep The major causes of chorea include use of oral contraceptives, pregnancy, autoimmune disorders, paraneoplastic syndromes, hyperthyroidism, hypoparathyroidism, and hyperglycemia.
According to a study published in Neurodegenerative Disease Management journal in 2016, prevalence of Huntington’s disease (HD) is lower in Asian populations as compared to Western Europe, North America, and Australia.
Due to the rising burden of chorea, and related diseases, various pharmaceutical companies, and devices manufacturers have come up with novel technological advancements. For instance, on April 3, 2017, Teva Pharmaceutical Industries Ltd. received FDA approval for AUSTEDO™ (deutetrabenazine) for the treatment of chorea associated with Huntington’s disease (HD). Huntington’s disease (HD) affects more than 35,000 people in the United States. Various other companies such as Pfizer is also targeting this condition by developing novel drugs.
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Notably, growing public awareness, and technological advancements are the key factors driving the chorea market. Nowadays, people are becoming more aware of different types of neurological disorders. Government and other different organizations have started educating people about hygiene and diseases through seminars, and conferences. People are becoming more aware and health concious. Thus, increasing awareness has provided a push to the growth of the market. In September, 2017, Medtronic received FDA approval for Intellis platform. Medtronic offers a broad range of product portfolio such as RestoreSensor SureScan MRI* neurostimulator, RESTOREULTRA SURESCAN MRI NEUROSTIMULATOR, RESTOREADVANCED SURESCAN MRI NEUROSTIMULATOR, and Intellis Platform.
Various other factors such as increasing incidence of neurological disorders, unmet medical needs, increasing government assistance, improving regulatory framework, increasing adoption rate, and rising funding and reimbursement are continuously contributing to the growth of the global chorea market.
Despite these drivers, there are some issues associated with chorea market. Some of the challenges in research and development, cost of treatment, side-effects of treatment, the presence of misbranded and spurious drugs, and poor healthcare system in low and middle-income countries, may hinder the growth of the market to an extent.
Most Prominent Key Player:
Some of key the players in the global chorea market are Teva Pharmaceutical Industries Ltd., Valeant, Medtronic, Alnylam Pharmaceuticals, Inc., Cyberonics, Inc., AmpliPhi Biosciences Corp, Ceregene Inc., Boston Scientific Corporation, GlaxoSmithKline plc, Lundbeck, Prana Biotechnology Limited, Cortex Pharmaceuticals Inc., Vertex Pharmaceuticals Incorporated, SOM Biotech, Raptor Pharmaceutical, Omeros, Ipsen, Pfizer, Palobiofarma, Aleva Neurotherapeutics SA, and others.
The Americas dominate the chorea market owing to the rising awareness among people, and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total health expenditure in the United States was reported to be USD 3.2 trillion and hospital care accounted for a share of 32.3%.
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Europe holds the second position in the chorea market. It is expected that the support provided by the government bodies for research & development and improvement in reimbursement policies in the healthcare is likely to drive the market of Europe region.
Asia Pacific is the fastest growing chorea market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also improving in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-2015.
The Middle East & Africa holds the lowest market due to lack of technical knowledge and poor medical facilities.
- Report Prologue
- Market Introduction
- Research Methodology
- Market Dynamics
- Market Factor Analysis
- Global Chorea Market, by Type
- Global Chorea Market, by Treatment
- Global Chorea Market, by Distribution Channel
- Global Chorea Market, by Region
- Company Landscape
- Company Profiles
- MRFR Conclusion
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