Congenital Anomalies Treatment Market size was valued at USD 158.5 million in 2023 and is likely to reach USD 284.41 million by 2036, registering around 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of congenital anomalies treatment is estimated at USD 164.33 million.
The growth of the market can be attributed to the increasing prevalence of congenital anomalies amongst new born babies. Congenital anomalies or abnormalities can be caused due to various factors, including genetic makeup, environmental, socioeconomic or demographic factors, poor maternal nutritional status, and infections caught during pregnancies. According to the data by the World Health Organization (WHO), 295,000 newborns die within 28 days of birth every year, due to congenital anomalies, globally. Moreover, prevention of these anomalies is near to impossible, as the causes are vague and uncontrollable. A WHO report stated that over 50% of all congenital anomalies cannot be linked to a specific cause. As a result, treatment is the only solution for congenital abnormalities, leading to a high demand for treatment, which is estimated to boost the market growth. Furthermore, growing healthcare awareness amongst the parents, along with availability of advanced treatment options are anticipated to further propel the congenital anomalies treatment market growth. In addition to this, the increasing government investment in the field of medical research, is projected to further propel the market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
4.6% |
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Base Year Market Size (2023) |
USD 158.5 million |
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Forecast Year Market Size (2036) |
USD 284.41 million |
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Regional Scope |
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The market is segmented by treatment into surgery, additional therapy, drugs, and others, out of which, the surgery segment is anticipated to hold the notable share in the global congenital anomalies treatment market over the forecast period owing to the high success rate of surgeries. Moreover, surgeries guarantee permanent cure for congenital heart disease, cleft palate, and other disorders, which is estimated to boost the segment growth.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Technology |
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End-User |
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On the basis of geographical analysis, the global congenital anomalies treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is poised to dominate majority revenue share by 2036, on the back of advancements in the healthcare sector, and rising healthcare expenditure across the region.
The market in the North America region is anticipated to gain the largest congenital anomalies treatment market share throughout the forecast period owing to the high prevalence of congenital diseases in infants in the region. As per the data by the Center of Disease Control and Prevention (CDC), one in every 33 babies or about 3% of all babies born in the United States suffer from birth defects each year.
December 20, 2021: Merck KGaA announced the acquisition of Chord Therapeutics to expand its neuro-inflammatory pipeline, to develop cladribine drug.
December 01, 2020: Fresenius Kabi launched a new Icatibant injection to treat acute attacks of hereditary angioedema in adults. Icatibant injection is an FDA-approved, cost-effective and quick-relief alternative to treat attacks of hereditary angioedema (HAE).
Author Credits: Radhika Pawar
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