Ataxia Treatment Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing prevalence of ataxia around the world, and growing number of incidences of autoimmune diseases such as sclerosis, sarcoidosis and celiac disease. According to the United States Library of Medicine, ataxia occurs in 1 in 40,000 to 1000,000 people around the world. In the United States alone, 150,000 people are suffering from this disease. Along with these, rising alcohol and drug usage can lead to the deficiency of vitamin B-12, vitamin E and thiamine. The lack of these nutrients in the body is considered to be a major cause of ataxia, which in turn is expected to drive the growth of the market in the near future. Furthermore, rising technological advancements in the healthcare sector in developed and developing nations, coupled with escalating introduction of new treatment techniques is projected to offer lucrative opportunities for market growth in the forthcoming years.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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Regional Scope |
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The market is segmented by type into Friedreich's ataxia, ataxia-telangiectasia, spinocerebellar ataxias, episodic ataxia, and others, out of which, the Friedrich’s ataxia segment is anticipated to hold the largest share in the global ataxia treatment market on account of the commonness of this type of ataxia in people aged between 10-15 years, and growing developments of treatment focusing on minimizing symptoms and maintaining comfort and function. Additionally, on the basis of diagnosis, the segment for brain scans is predicted to acquire the largest share during the forecast period, which can be credited to the high effectiveness of this diagnosis technique in determining the cause of an illness and for confirming an appropriate treatment. In addition, the complexity of other diagnosis, such as gene testing, as compared to brain scans is also assessed to benefit the growth of this market segment in the future.
Our in-depth analysis of the global ataxia treatment market includes the following segments:
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By Type |
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By Diagnosis |
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By Treatment Type |
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On the basis of geographical analysis, the global ataxia treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific is expected to hold largest revenue share by 2036, on the back of increase in patient pool with genetic strains of ataxia, rising levels of awareness associated with the disease, and government initiatives to curb neurodegenerative disorders. As per the data provided by Centers for Medicare and Medicaid Services, U.S. health care spending grew 4.6 percent in 2019, reaching $3.8 trillion or $11,582 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 17.7 percent. Moreover, the market in North America is anticipated to grab the largest share by the end of the forecast period, which can be ascribed to the high occurrence of ataxia, establishment of several support organizations for patient diagnosis and treatment, and growing government healthcare spending in the region. In addition, strong presence of prominent market players is also expected to boost the region’s market growth in the coming years.
Author Credits: Radhika Pawar
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