Hallervorden-Spatz Disease Drugs Market size is expected to expand at significant growth rate during the forecast period i.e., between 2024-2036. Hallervorden-Spatz disease or HSD, also known as, neurodegeneration with brain iron accumulation (NBIA), and pantothenate kinase-associated neurodegeneration (PKAN), is a genetic neurological disorder. The growth of the market can be attributed to the severity of the symptoms of HSD, which can lead to paralysis, coma, and even death if not treated timely. It is a rare condition, usually diagnosed in early childhood, but late onset can even delay diagnosis to adulthood. The incidence of HSD is estimated to be 2 to 5 per million individuals worldwide, as of 2020. There is no specific cure for HSD, and the medication is required lifelong. This is estimated to boost the market growth. In addition to this, the increasing investment in the R&D activities in the medical field, along with rising healthcare expenditure globally, is estimated to boost the hallervorden-spatz disease drugs market growth.
Growth Drivers
Challenges
2023 |
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Forecast Year |
2024–2036 |
Regional Scope |
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The market is segmented by onset into under 10 years, and above 10 years, out of which, the under 10 years segment is anticipated to hold the largest share in the hallervorden-spatz disease drugs market over the forecast period on account of higher prevalence rate of HSD amongst children. Trouble in walking, speaking, involuntary muscle contractions, and other initial symptoms of HSD are visible in children under 10 years, which makes the diagnosis of this disease easier, and expands the life expectancy of the patient. This is estimated to boost the segment growth.
Our in-depth analysis of the global market includes the following segments:
By Onset |
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By Symptoms |
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By Treatment |
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On the basis of geographical analysis, the hallervorden-spatz disease drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Europe is set to dominate majority revenue share by 2036, on the back of significant number of HSD cases, being diagnosed in the region every year. The high number of cases can be attributed to the efficient diagnosis system, advance public healthcare system and high health awareness amongst the people. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of high healthcare expenditure, and presence of major pharmaceutical companies. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America.
June, 2021: Novartis AG to collaborate with Hewlett Packard Enterprise to address global health challenges. Novartis is the leading pharmaceutical company distributing drugs over the years.
Author Credits: Radhika Pawar
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