Rockville, MD -- (SBWIRE) -- 09/23/2019 -- The increasing screening and provisions for compulsory and free screening of newborns under the Children's Health Insurance Program (CHIP) and Medicaid is a prime driver of the Global Cephalic Disorders Treatment Market. The Patient Protection and Affordable Care Act (Affordable Care Act) requires most health plans to cover the federal Recommended Uniform Screening Panel (RUSP) of 31 core and 26 secondary newborn screening (NBS) tests with no coinsurance or copayments. This provision is expected to result in the coverage of almost 1.5 Million annual U.S. births, in addition to approximately 2 Million births covered under Medicaid. Newborn screening is also being provided by many third party payers and governments throughout the world are providing incentives for the same
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Cephalic disorders are congenital conditions characterized by damage or abnormal development of the nervous system. They are caused by multiple factors such as genetic, nutritional deficiencies and environmental exposure to infection or radiation during gestation. Cephalic disorders result in chronic, disabling disorders and even death. Common cephalic disorders include anencephaly, colpocephaly, holoprosencephaly, ethmocephaly, hydranencephaly, iniencephaly, lissencephaly, megalencephal, microcephaly, porencephaly, and schizencephaly. Anencephaly accounts for the largest share of cephalic disorders with almost 1,000 to 2,000 babies born with anencephaly each year in the U.S. The treatment for cephalic disorders includes drugs, surgery and occupational and behavioral therapy. However, there is a dearth of curative treatment and most patients receive symptomatic treatments based on conditions that vary by a large degree.
Tax incentives, grants for research and other provisions by governments for rare diseases are other factors driving the cephalic disorder treatment market growth. For example, under the Orphan Drug Act (ODA), economic incentives such as grants to academic-based researchers or companies are awarded for research. The government of UA also provides 50 % tax credit for expenditures incurred for clinical testing for orphan drugs. The Food and Drug Administration (FDA) also provides a 7-year market exclusivity for orphan diseases. ORPHANET, a consortium of 40 countries, is another initiative led by European countries. It lists isolated anencephaly, absence of innominate vein, holoprosencephaly and others cephalic disorders for grant benefits.
The development of healthcare infrastructure and per capita income is another trend driving the global cephalic disorders treatment market. Rising awareness and development in technologies such as genetic testing and surgery are driving faster market adoption for the global cephalic disorders treatment market.
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Poor efficacy and efficiency of treatment, risk of infection, poor success rates, high cost of treatment and absence of curative treatment for many cephalic disorders are expected to restraint the growth of the cephalic disorders treatment market.
The global market for cephalic disorders treatment is consolidated with a few large players dominating the scene. Most of the treatment is symptomatic and there is a dearth of curative treatment. Thus, any drug – even if partial curative – will be a block buster with rapid adoption and minimum marketing cost. A large opportunity exists in the hearing aids devices market and some of the established players in the global cephalic disorders treatment include Sonova Holding AG, Widex A/S, Oticon, Abbott Laboratories, GlaxoSmithKline plc, Novartis International AG, Sanofi S.A., Pfizer Inc., Takeda Pharmaceutical Company Ltd., and others.
Cephalic Disorders Treatment Market: Regional-Wise Outlook
The global cephalic disorders treatment market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, Middle East and Africa. North America is expected to account for the largest share of the global cephalic disorders treatment market, owing to an excellent reimbursement rate, large healthcare expenditure amounting to 16 % of GDP in 2016 and compulsory screening under the affordable healthcare act. The provision of fast track approval by the FDA is expected to drive greater research in the area.
The Asia Pacific cephalic disorders treatment market is dominated by China and India and is expected to grow with the fastest CAGR, owing to the expansion of the healthcare industry and economic growth. Western Europe is expected to account for the second largest market, led by Germany, France and the U.K. The European cephalic disorders treatment market is expected to grow at a significant rate, owing to the incentives by European Council. The Middle East and Africa cephalic disorders treatment market is expected to be skewed in favor of the gulf economies of Saudi Arabia, Kuwait, and Qatar.
Cephalic Disorders Treatment Market: Key Players
Some of the major players operating in the global cephalic disorders treatment market include Sonova Holding AG, Widex A/S, Oticon, Abbott Laboratories, GlaxoSmithKline plc, Novartis International AG, Sanofi S.A., Pfizer Inc., Takeda Pharmaceutical Company Ltd. and others.
The global cephalic disorders treatment market is characterized by the absolute dearth of effective and curative treatment. Thus, research and development provides the largest market opportunity and any degree of success will lead to monopoly with an extremely large premium. Thus, partnership with large hospitals and organizations is an attractive strategy to eliminate the large development cost of drug research.
The global cephalic disorders treatment report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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