Facial Paralysis Market 2018 Major Key Vendors – Boston Scientific, BioControl Medical, Cerebomed and Cyberonics Forecast 2023

Market Scenario

Facial paralysis is a restriction of the facial movement due to nerve damage. Facial nerve paralysis is characterized by unilateral facial weakness. Some other symptoms include loss of taste, hyperacusis, and decreased salivation and tear secretion.

The global facial paralysis market is majorly driven by the high prevalence of cardiovascular diseases, the launch of technologically advanced devices, increasing inflammation rates, increasing rate of strokes, and growing penetration by market players. Additionally, factors such as the increasing approvals for facial paralysis, government initiatives and support, and rising reimbursement coverage for cardiologic anomalies are likely to drive the market.

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Factors that are likely to hamper the growth of the market are product failures and recalls.

Global Facial Paralysis market is expected to grow at a CAGR of 6.5% during the forecast period.

Segments

The global facial paralysis market is segmented on the basis of type, diagnosis, treatment, and end-user.

On the basis of type, the market is segmented into bell’s palsy, Ramsay Hunt syndrome, and Lyme disease.

On the basis of diagnosis, the market is segmented into electromyography, computerized tomography, and magnetic resonance imaging.

On the basis of treatment, the market is segmented into medications, physical therapy,

On the basis of medications, the market is further sub-segmented into corticosteroids and antiviral drugs.

On the basis of end-user, the market is segmented into hospitals and clinics, specialty centers, and research centers.

Regional Analysis

The North American facial paralysis market is a growing market in the Americas region. On a regional basis, the Americas region is segmented into North America and South America. North America is segmented into the U.S. and Canada. The increasing cardiovascular rate is likely to enhance the growth of facial paralysis. Additionally, the increasing demand for minimally invasive procedures, rising government support, and rising demand for technologically advanced treatments are likely to enhance the growth of the facial paralysis market in North America. For instance, according to the American Heart Association, 31% of the deaths in the U.S. were due to cardiovascular disorders. Similarly, in 2015, around USD 3.2 trillion were spend in healthcare expenditure in the U.S according to the Center for Disease Control and Prevention.

Europe is the second largest market and holds a healthy share in the global facial paralysis market. The European market is expected to grow a during the forecast period owing to the availability of advanced treatment facilities and healthcare expenditure along with growing need for better healthcare infrastructure. Furthermore, the increasing cardiovascular rate along with the rising population inclined towards the sedentary lifestyle is driving the growth of the facial paralysis market. According to the European Heart Network, in 2015, there were 11.3 million cardiovascular disorder cases in Europe.

Asia Pacific is expected to be the fastest growing market owing to the increasing prevalence of cardiovascular disorders and increasing inflammation rates. China is the fastest growing region owing to an increasing population. The increasing awareness about the health and availability of new treatment methods drives the market in this region. Increasing healthcare expenditure and rise in the standard of living are driving the growth of the facial paralysis market in the Asia Pacific region.

The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market owing to the development of the healthcare industry and increasing availability of specialty care centers.

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Key Players

Some of the key players in the facial paralysis market are Boston Scientific, BioControl Medical, Cerebomed, Cyberonics, Astellas Pharma Inc., Sucampo Pharmaceuticals, Inc., and Novartis AG, among others.

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This release was published on openPR.