The intense need for in-depth understanding of the “Cell Therapy Market -Forecast to 2023″ coupled with its high growth potential necessitated the development of this report by Market Research Future. The report specifically focuses on the key industry development trends and forces that shapes the market, but not limited to only commercial nature, but which encompasses a broad range such as social, technological and others. The global pericarditis market is expected to grow at an approximate CAGR of 7.5% during the forecast period.
MarketResearchFuture.com adds “Cell Therapy Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.
America dominates the global pericarditis market owing to rising healthcare expenditure, huge patient population for the cardiovascular diseases and growing geriatric population. Moreover, the region is marked by the presence of developed economies like the U.S. and Canada which are technologically advanced and have a well-developed healthcare expenditure. This, additionally, fuels the market growth during the forecast period.
Europe is the second largest pericarditis market, which is followed by Asia Pacific. Availability of funds for research, huge patient population, increasing healthcare expenditures drives the market growth within the region. Moreover, favorable government policies and increasing funds for research fuels the market growth.
Asia Pacific is the fastest growing region due to increasing demands for the healthcare services followed by growing geriatric population and rising healthcare expenditures fuels the market. Moreover, the region have huge opportunities for the development of the market due the presence of the developed economies like India and China.
The Middle East & Africa holds the least share of the market owing to the presence of poor economies especially, in African region. Moreover, stringent government policies within the region, restrains the market growth. A majority of the market within this region is held by the Middle East due to the well-developed healthcare sector and huge healthcare expenditure.
The key players for the global pericarditis market are Pfizer Inc. (U.S.), AstraZeneca (U.S.), Bayer AG (Europe), Reckitt Benckiser Group plc. (Europe), PerkinElmer, Inc. (U.S.), FUJIFILM Holdings Corporation (Asia Pacific), Merck Sharp & Dohme Corp. (U.S.), ALLERGAN (Europe), and others.
Pericarditis is a cardiovascular disease in which pericardium sac swells. The symptoms of the disease are inclusive of the chest pain, heart palpitations, and others. This medical condition can be acute, chronic or recurrent. However, it is estimated that most of the reported cases are for acute pericarditis. The growing geriatric population is at a higher susceptibility for the development of the pericarditis. Thus, the growing geriatric population is one of the major drivers for the market. According to the World Health Organization, the geriatric population of the U.S. is expected reach 98 million by 2060. Such an increase in the growing geriatric population will boost the market growth. Moreover, increasing healthcare expenditures and rising prevalence of the cardiovascular diseases fuels the market growth. According to the Centres for Disease Control and Prevention, in 2015, the U.S. total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion. However, the market will be restricted by the lack of awareness and low per capita healthcare expenditure within the developing economies during the forecast period.
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Around the world stem cell therapy, and related products are being regulated by various guidelines and laws based on the regulatory agencies in charge, i.e. the Food and Drug Administration (FDA) in the USA, the European Medicines Agency (EMA) in Europe, different and other regional authorities. According to a study published in Transfusion Medicine and Hemotherapy in 2016, it is found that the therapeutic products based on gene therapy, and somatic cell therapy are defined as advanced therapy medicinal products (ATMP), in Europe.
Notably, rising prevalence of chronic disorders is the key factor driving the cell therapy market. According to a study published in Neurology India journal in 2014, it is found that out of total population of India, around 30 million people were suffering from neurological disorders.
Various other push factors such as increasing geriatric population, increasing government assistance, replacement of animal testing model, technological advancements, and improvement in regulatory framework continuously contribute to the growth of the global cell therapy market. As per the instructions suggested by the FDA on the regulation of tissue engineering, the purity and quality of engineered tissue should be maintained and regulated to avoid any kind of chemical instability.
Despite these drivers, there are some issues associated with cell therapy market. Challenges in research and development, the high cost of manufacturing, and poor healthcare system in low and middle-income countries may hinder the growth of the market to an extent.
The global pericarditis market is segmented on the basis of type, diagnosis, treatment, and end users.
On the basis of type, the market is segmented into acute, chronic, recurrent pericarditis, and others.
On the basis of diagnosis, the market is segmented into electrocardiogram, echocardiogram, X-ray blood test, and others. The electrocardiogram segment, is sub segmented into EKG, ECG, and others. The echocardiogram segment is sub segmented into transthoracic echocardiogram, transesophageal echocardiogram, stress echocardiogram, and others.
On the basis of treatment, the market is segmented into pharmacologic, surgical, and others. The pharmacologic segment is further segmented into non-steroidal anti-inflammatory drugs (NSAIDs), colchicine, and others. The NSAIDs segment is sub segmented into aspirin, ibuprofen, and others. The surgical segment is sub-segmented into pericardiectomy, pericardiocentesis, pericardiotomy, and others.
On the basis of end users, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.
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