Global Spina Bifida Treatment Market - Industry Trends and Forecast to 2029

Global Spina Bifida Treatment Market, By Disorder (Meningocele, occulta, myelomeningocele, and Closed Neural Tube Defects), Type (Spina Bifida Cystica, Spina Bifida Occulta), Treatment (Medicines, Medical Procedures, Surgeries, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2029.

Spina Bifida Treatment Market Analysis and Size

The spina bifida treatment market is expected to witness significant growth during the forecast period. Spina bifida is a congenital condition that usually occurs as a result of mutation in the spinal cord. This condition affects women more than men. Factors such as obesity, diabetes, and folate deficiency are considered risk factors for the incidence of the condition.

Data Bridge Market Research analyses a growth rate in the spina bifida treatment market in the forecast period 2022-2029. The expected CAGR of global spina bifida treatment market is tend to be around 8.40% in the mentioned forecast period. The market was valued at USD 2.42 billion in 2021, and it would grow upto USD 4.61  billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Spina Bifida Treatment Market Scope and Segmentation

Market Definition

Spina bifida is a kind of congenital defect affecting the spine and spinal cord and regularly appearing at birth. It is typically characterized by fragmented growth of the brain and spinal cord. This condition causes difficulties with bladder control and cognitive challenge. It can happen at any position along the spinal cord in case neural tube does not close properly. This causes defect in the formation and closure of backbone that protects the spinal cord. It often leads to damage of spinal cord and nerves associated with it.   

Global Spina Bifida Treatment Market Dynamics

Drivers

• Rising Awareness of the Disease

The increasing technological advancements is the primary factor driving the spina bifida treatment market. With the rising awareness about the disease, market players are bringing in much innovations due to technological advancements. For instance, in Nov 2015, B. Braun Melsungen AG announced the launch of Ster-ASSIST Sterile Peripheral IV Catheter Insertion Kit. In the same year, Medtronic acquired Twelve, Inc., a trans-catheter mitral valve replacement device developer.

• Increase in Elderly Population

As per the reports of the National Institute on Aging, around 524 million individuals, were above the age of 65 in the year 2010. This number is expected to rise and reach upto 1.5 billion, which is approximately 16% of the global population, by 2050. This boost the market growth.

Opportunities

• Increase in Spina Bifida

It has been witnessed that in the U.S, 1,500 to 2,000 of the more than 4 million babies born are affected by the condition each year. In the U.S., around 166,000 individuals are living with this condition. It is more common among the population with fair complexion. It is more commonly observed among women as compared to men.

• Increasing Demand for Retail Pharmacies

The rise in the number of spina bifida drugs delivered through retail pharmacies and the surge in the number of retail pharmacies in developed countries create opportunities for the market growth. In addition to this, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

 Restraints/Challenges

• Development of Complications

There are sevral complications associated with the use of NGF and these could curb the growth of the global nerve growth factor (NGF) market  over a forecast period. Excessively high levels of NGF have also been linked to cancer tumor growth, asthma, and the worsening of acquired immunodeficiency syndrome (AIDS). All these factors restrict the growth of the market.

• High Cost

The huge expenditure associated with these agents hamper the market growth. The treatment involves different types of surgeries which demands high cost , thus, hindering the growth expansion.

This spina bifida treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the spina bifida treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Spina Bifida Treatment Market Scope

The spina bifida treatment market is segmented on the basis of type, treatment, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Disorder

• Meningocele
• occulta
• Myelomeningocele
• Closed Neural Tube Defects

Type

• Spina Bifida Cystica
• Spina Bifida Occulta

Treatment

• Medicines
• Medical Procedure
• Urinary diversion
• Urinary catheterization
• Enema
• Surgeries
• Caesarean section
• Surgery of the spine
• Fetal endoscopic surgery
• Suprapubic cystostomy
• Spinal fusion
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Spina Bifida Treatment Market Regional Analysis/Insights

The spina bifida treatment market is analyzed and market size insights and trends are provided by type, treatment, distribution channel and end-user as referenced above.

The major countries covered in the spina bifida treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for spina bifida treatment market throughout the forecasted period due to the increase in research activities in this region and advanced healthcare facilities.

Asia-Pacific dominates the market due to the increasing awareness about the diseases and rapidly disposable income.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Spina Bifida Treatment Market Share Analysis

The spina bifida treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to spina bifida treatment market.

Key players operating in the spina bifida treatment market include:

• Pfizer Inc.(U.S.)
• Regeneron Pharmaceuticals Inc (U.S.)
• Astellas Pharma Inc. (Japan)

• Merck KGaA (Germany)
• Sanofi (France)
• Bio-Rad Laboratories, Inc. (U.S.)
• Biocare Medical, LLC (U.S.)
• Lilly (U.S.)
• Teva Pharmaceutical Industries (Israel)
• B. Braun SE (Germany)
• Cardinal Health (U.S.)
• BD (U.S.)
• Boston Scientific Corporation (U.S.)
• Hologic, Inc. (U.S.)