Given the debilitating impact of COVID-19 (Coronavirus) on Vanishing Bone Disease Market, companies are on the lookout for starting production lines. Get an inside look at the market prospects and its future decisions in light of the pandemic and other such unforeseen circumstances.
Vanishing Bone Disease Market Competitive Analysis:
Major players in the global vanishing bone disease market include Novartis International AG, F. Hoffman-La Roche AG, Sanofi-Aventis, Merck & Co., ATMOS MedizinTechnik GmbH & Co. KG, Smiths Medical, Cook Medical, Medtronic plc, Vygon S.A., Teleflex Inc., C. R. Bard Inc., Elekta AB, and Varian Medical Systems Inc.
Vanishing Bone Disease Market Analysis
Global vanishing bone disease market growth is expected to exhibit a steady 6.1% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
Vanishing bone disease, also known as Gorham-Stout syndrome, is a skeletal disease that manifests as progressive osteolysis and proliferation of lymphatic vessels in the bones. The proliferation of lymphatic vessels leads to absorption of the bone, worsening the condition. Bones affected by vanishing bone disease are also more prone to osteopenia and fractures, due to the basic reduction in bone mass and strength. Vanishing bone disease is a relatively rare disease, affecting less than 200 people in the world every year. However, growing awareness about the disease is likely to drive the global vanishing bone disease market over the forecast period.
Rare diseases are becoming increasingly important for the healthcare sector in developed economies due to the increasing cumulative financial burden of rare diseases. Although rare diseases are rare in isolation, there are around 7,000 diseases classified as rare in the U.S., leading to a cumulative prevalence equal to type 2 diabetes. The increasing government efforts to eradicate rare diseases are likely to be a major driver for the global vanishing bone disease market over the forecast period.
On the other hand, challenges in diagnosing vanishing bone disease are likely to hinder the market over the forecast period. The lack of awareness about vanishing bone disease in emerging countries as well as the high costs of treatment are also likely to be a major restraint for the market over the forecast period.
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Vanishing Bone Disease Industry News
In June 2019, a team of scientists in Belgium developed a new AI-based method to diagnose rare diseases. The use of AI in genetic studies has the potential to speed up research considerably and is likely to be a popular avenue over the forecast period.
Vanishing Bone Disease Market Segmentation:
The global vanishing bone disease market is segmented on the basis of diagnosis, treatment, end use, and region.
On the basis of diagnosis, the global vanishing bone disease market is classified as X-rays, CT scans, MRI, ultrasound, nuclear medicine, and others.
On the basis of treatment, the global vanishing bone disease market is segmented into medical therapy and radiation therapy. The medicine therapy segment is further sub-segmented into bisphosphonates, vitamin D, interferon, a-2b interferon, calcium, adrenal extracts, androgen, bleomycin, and others. Radiation therapy is further segmented into chest drainage, thoracic duct ligation, pleurodesis, pleurectomy, and others.
On the basis of end user, the global vanishing bone disease market is segmented into hospitals & clinics, diagnostic centers, ambulatory surgical centers, and others.
Vanishing Bone Disease Market Regional Analysis:
The global vanishing bone disease market is likely to be dominated by North America over the forecast period due to the growing awareness about the disease and the increasing government support to research into rare diseases. The medical research sector holds a strong position in North America due to the presence of several leading market players. This has led to strong prospects for the vanishing bone disease market over the forecast period. The increasing efforts at population health management in the U.S. and Canada are also likely to be a major driver for the vanishing bone disease market over the forecast period, as this is likely to further increase the awareness about rare diseases.
Europe is also a leading market for vanishing bone disease, due to the strong medical research sector in the region. Around 30 million Europeans are affected by rare diseases every year, which is likely to drive research efforts in the field over the forecast period.
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The rising prevalence of rare diseases in Asia Pacific is likely to drive the market over the forecast period, though Asia Pacific is likely to remain behind North America and Europe due to the strong presence of the medical research sector in the latter. The Middle East, Africa, and Latin America are likely to hold the smallest share in the global vanishing bone disease market over the forecast period due to the low awareness about the disease and the lack of a competent medical research sector.