Pune, India -- (SBWIRE) -- 01/05/2018 -- Market Highlights
Xanthoma is a dermatology condition characterized by fatty growth underneath the skin. The growth can vary in size ranging from a pinhead to as large as a grape and usually appear like a flat bump under the skin and sometimes yellow or orange colored. They usually don't cause any pain with some minor irritation such as tenderness and itchy feeling. There may be clusters of growths in the same area or several individual growths on different parts of the body. The exact causes of xanthoma is unknown, however, genetic factors have been indicated a cause of this conditions such as cogenosis type 1a, autosomal recessive hypercholesterolemia, alagille syndrome, and cholesterol storage disease. The global Xanthoma Market is expected to reach USD 8.0 billion by 2023, and the market is projected to grow at a CAGR of ~ 6.0 % during the forecast period 2017-2023.
High levels of blood lipids, or fats, hyperlipidemia, or high blood cholesterol levels, diabetes, cancer, hypothyroidism, biliary cirrhosis, cholestasis, nephrotic syndrome, hematologic diseases such as monoclonal gammopathy and other metabolic disorders are some of the risk factors of xanthoma. Side effect of certain medications, such as tamoxifen, prednisone, cyclosporine, and others may hamper the market growth over the review period.
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Rising demand due to growing population, increasing screening, greater emphasis on restorative procedures, rising safety, and success of xanthoma treatment are driving the market growth. However, the complications such as risk of bleeding, infections, pain, especially, during surgery, high cost of xanthoma treatment, and poor understanding of the disease may restrain the market growth.
There is no preventive treatment for xanthoma which, is the single most unmet need in the market. Product development represents the best strategy for the market growth. The market is expected to witness an exponential growth over the review period owing to technological advancement in surgical procedures. Market development is another strategy for as there is a large unmet need in the developing regions such as India and China. Cost of the product is likely to a decisive factor in the developing regions such as Asia Pacific and, especially, Africa.
Key Market Players
Some of the key players profiled in the report are AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Bayer HealthCare Pharmaceuticals LLC, Pfizer, Inc., Novartis International AG, Teva pharmaceutical industries, Novo Nordisk, Sanofi and others.
The Americas accounts for a significant market share owing to high expenditure on the health care, especially, of the U.S. and Canada. Additionally, the greater number of dermatology procedures due to greater healthcare penetration in the U.S. and Canada drive the market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of dermatology procedures especially the xanthoma surgery treatment in the returns of hospitals favors the market. The large number of pharmaceutical companies in the U.S. is also adding fuel the growth of the market in the US.
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Europe is the second largest market in the world due to growing pharmaceutical industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large pharmaceutical industry.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to the fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of the healthcare industry in the Asia Pacific region is expected to drive the future market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt, and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to poor social development and tribal identities such as sub-Saharan Africa.
Taste the market data and market information presented through more than 50 market data tables and figures spread over 80 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on "Global Xanthoma Market" Research Report – Forecast till 2023.
Market Factor Analysis
Global Xanthoma Market, by Types
Global Xanthoma Market, by Diagnosis
Global Xanthoma Market, by Treatment
Global Xanthoma Market, by End User
Global Xanthoma Market, by Region
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