Moyamoya disease (MMD) is a rare, cerebrovascular disorder which occurs due to blocked arteries at the base of the brain i.e. the basal ganglia. The MMD primarily affects children, but it can also occur in adults.
A number of factor such as growing public awareness, technological advancements, rising prevalence of neurological disorders, increasing awareness, improving regulatory framework, increasing government assistance, increasing adoption rate, and rising funding and reimbursement policies are propelling the growth of the global moyamoya disease market.
However, challenges in research and development, side-effects of treatment, the high cost of treatment, the presence of misbranded and spurious drugs and poor healthcare system in low and middle-income countries may hamper the growth of the market over the review period.
It is estimated that the moyamoya disease market is expected to grow at a CAGR of 7.0% during the forecast period 2017-2023.
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Some of key the players in the global moyamoya disease market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Cordis Corporation, Koninklijke Philips N.V., GE Healthcare, Siemens, Stryker, Genentech Inc., Merck & Co. Inc., UCB Pharma Ltd., Sanofi, Valeant Pharmaceuticals International, Inc., Pfizer, Inc., Johnson & Johnson, Eisai Co., Ltd, Novartis AG, GlaxoSmithKline plc, Sunovion Pharmaceuticals, Inc., Cephalon, Inc., and others.
The global moyamoya disease market is segmented on the basis of diagnosis, treatment, and distribution channels.
On the basis of the diagnosis, the market is classified as a cerebral angiogram, magnetic resonance imaging (MRI), magnetic resonance angiogram (MRA), computed tomography (CT) scans, transcranial Doppler ultrasound, positron emission tomography (PET) scan, and electroencephalography (EEG).
On the basis of the treatment, the market is classified as surgical treatment and non-surgical treatment. The surgical treatment is further classified as pial synangiosis, indirect procedures, and direct arterial bypass. The sub-segment of indirect procedures includes EDAS (encephaloduroarteriosynangiosis), EMS (encephalomyosynangiosis), Omental transposition/transfer, and dural inversion. The non-surgical treatment is further classified as anticoagulation and antiplatelet therapy, and others. The sub-segment of anticoagulation and antiplatelet therapy include heparin, warfarin, aspirin, and others.
On the basis of the distribution channel, the market is segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others.
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The Americas dominate the moyamoya disease 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%.
Europe holds the second position in the moyamoya disease market. It is expected that the support provided by the government bodies for research & development and improvement in the reimbursement policies in the healthcare is likely to drive the market of Europe region.
The Asia Pacific is the fastest growing moyamoya disease 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.
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