Market Scenario
The global hemangioblastoma market is expected to grow at the rate of 6.1% during the forecast period (2018–2023)
Hemangioblastoma is a type of brain tumor, it is rare and slow growing disease. Uncontrolled growth occurs in the cell linings of blood vessels and it leads to a tumor. The disease-causing factor is unknown, but it is more likely to affect people with von Hippel-Lindau disease history or it can be sporadically. The growing awareness about cancer, increasing number of tumor surgeries, growing demand for advanced therapies and increasing healthcare expenditure are expected to drive the growth of the market. According to National Center for Biotechnology Information, US National Library of Medicine, 80% cases of hemangioblastoma are sporadic, whereas 20 to 25% develop in the context of Von Hippel–Lindau disease and it accounts for 7 to 10% of total brain tumor cases.
The rising cost of tumor treatment and scarcity of experts may hamper the growth of the market during the assessment period.
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Segmentation
The global hemangioblastoma market has been segmented on the basis of tumor site, diagnosis, and treatment.
On the basis of tumor site, the market has been classified as brain tumor, spinal cord tumor, and retinal tumor. The diagnosis segment has been classified as CT scan, MRI scan, and angiogram.
The market, by treatment, has been segmented into surgery, chemotherapy, radiotherapy, corticosteroids, and anticonvulsants. Radiotherapy segment has been classified into Conformal radiotherapy, Intensity-modulated radiotherapy (IMRT), Stereotactic radiotherapy and radiosurgery. Corticosteroid segment has been further divided into hydrocortisone, dexamethasone, methylprednisolone, and prednisolone. anticonvulsants segment has been further divided into carbamazepine, lamotrigine, levetiracetam, phenytoin, and sodium valproate.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The hemangioblastoma market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European hemangioblastoma market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The hemangioblastoma market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The hemangioblastoma market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
The Americas are likely to dominate the global hemangioblastoma market owing to the adoption of highly advanced technology, the presence of a well-established healthcare system, rising prevalence of cancer, and increasing healthcare expenditure. According to the National cancer institute, in 2016, 15.5 million cancer cases were found in united states, and it is expected to reach 20.3 million by 2016. Also, the expenditure on cancer care in 2017 was 147.3 billion.
The European market is expected to be the second-largest hemangioblastoma market share. The market growth in this region can be attributed to government funding and support of the healthcare sector and increasing cancer cases in the region. According to the European Commission, in 2016, The European nations (EU28), total expenditure of general governments on ‘healthcare’ amounted to 7.1 % of GDP and it was around USD1000 billion.
Asia-Pacific is expected to be the fastest-growing hemangioblastoma market during the forecast period owing to the increasing prevalence of chronic diseases, government support, rising investments in healthcare and presence of huge population. According to the World Economic Forum, in 2017, more than 55% of deaths occurred due to chronic and non-communicable diseases, which is more than 8 million and out of this one-third, people were below 60years.
The market in the Middle East & Africa is expected to account for the smallest share of the global hemangioblastoma market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Key Players
Some of the key players in the global hemangioblastoma market are Eli Lilly and Company, Bedford Laboratories, Astellas US Holding, Inc., DNAtrix, Inc., Advantagene, Inc., Burzynski Research Institute, Inc., Direct Therapeutics, Inc., Cellectar Biosciences, Inc., and others.
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