Market Research Future has a half cooked research report on the refsum disease market, Refsum Disease Market: Increasing Awareness and Projected to Boost Industry Growth at a Healthy CAGR of ~ 5.4% during the Forecast Period 2017-2023
Refsum disease is an inherited condition that occurs due to malfunction of the enzyme producing gene that metabolizes phytanic acid. This disfunctioning of gene leads to accumulation of fatty acid (phytanic acid) in blood plasma and tissues
A number of factor such as increasing awareness among people, increasing government assistance, improving regulatory framework, and rising funding and reimbursement policies are propelling the growth of the global refsum disease market.
However, challenges in research and development, side-effects of treatment, and poor healthcare system in low and middle-income countries may hamper the growth of the market.
It is estimated that the refsum disease market is expected to grow at a CAGR 5.4% during the forecast period of 2017-2023.
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Some of key the players in the global refsum disease market are Fresenius Kabi, B. Braun Medical Inc., Medline Industries, Inc., Illumina, Inc., Igenomix, Ceuta Healthcare Limited, Cochlear Ltd., Cook, Sonova, William Demant Holding A/S, Nurotron Biotechnology Co. Ltd., Agilent Technologies, Bio-Rad Laboratories, Inc., Sequenom and others.
The global refsum disease market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into adult refsum disease, and others. The adult refsum disease is further segmented into adult refsum disease 1, and adult refsum disease 2.
On the basis of the diagnosis, the market is classified into physical examination, molecular genetic testing, prenatal screening tests, preimplantation genetic diagnosis, enzyme analysis, anosmia testing, and others. The molecular genetic testing is further segmented into genotyping, sequencing of gene, amplification or hybridization method, methylation-specific techniques, and others. The prenatal screening tests are further segmented into ultrasound, blood tests, chorionic villus sampling (CVS), amniocentesis, and others.
On the basis of the treatment, the market is classified as medical care, and surgical care. The medical care is further segmented into diet, plasmapheresis, and medication. The sub-segments of medication include keratolytics, and others.
On the basis of the end-user, the market is segmented into hospital, clinics, diagnostic centers, research & academic institutes, and others.
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The Americas dominate the refsum 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 refsum disease market. It is expected that the support provided by the government bodies for research & development and improvement in reimbursement policies in healthcare is likely to drive the market of Europe region.
The Asia Pacific is the fastest growing refsum 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, 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.
Notably, increasing awareness among people is the key factor driving the refsum disease market. According to the National Organization of Rare Diseases, the age of onset of refsum disorder varies greatly. The disease can occur at any time from early childhood to nearly 50 years of age, but in most cases will have appeared by age 20. Males and females are equally affected in numbers.
Various other push factors such as increasing awareness among people, increasing government assistance, improving regulatory framework, and rising funding and reimbursement continuously contributing to the growth of the global refsum disease market.
Despite these drivers, there are some issues associated with refsum disease market. Some of the challenges in research and development, and poor healthcare system in low and middle-income countries may hinder the growth of the market to some extent.
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