Market Research Future has revealed key market figures for the global Buergers disease market in its report on the subject. Projected to growth at a CAGR of 3.1% during the forecast period of 2017 to 2023, the global Buerger's disease market is expected to grow to reach an approximate value of USD 383 Mn by the end of the assessment period. The disease is rare and highly severe as it affects the blood vessels in the arms and legs thus leading to serious complications such as gangrene and other infections.
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At present, there is no suitable treatment path for the diseases and the market is primarily driven by research and the demand for the same. The diseases have received increased media coverage and have spread awareness after it was found that the Filipino President is afflicted with Buerger's disease. Although the precise cause of the disease is not clear, excessive use of tobacco has been found to be responsible to a certain extent. Increased investment in research and ongoing development of new therapies combined with launches of clinical trials are expected to drive market growth. Moreover, many companies are seeking approval for new treatments. In 2016, Stempeutics Research Pvt Ltd received partial approval for a stem cell-based treatment option of Buerger's disease. Growing advancements in medical technology and a rapidly developing global healthcare sector will lead to crucial discoveries and increase the availability of effective treatment for Buerger's disease.
The global Buerger's disease market is segmented on the basis of diagnosis, treatment, and end-user. By diagnosis, the market is segmented into tissue biopsy, Allen's test, angiograms, and others. The angiogram segment is sub-segmented to include Computerized Tomography (CT) scan, Magnetic Resonance Imaging (MRI) scans, X-Rays, and others.
By treatment, the market is segmented into smoking cessation and other treatments. Other treatments include intermittent compression of arms & legs, spinal cord stimulation, medication, surgery, amputation, therapeutic angiogenesis, and others. Other sub-segmentations are recorded in the report.
By end-user, the market is segmented into hospitals & clinics, academic institutes, medical research centers, and others.
The Americas hold the largest share of the global market due to the inclusion of the region of North America, which is a largely developed region. The U.S has been recorded as the highest revenue generating market in North America. The region has availability of funds for intensive research and clinical trials. While advanced diagnostic and treatment options are readily adopted, and market players work actively to produce the same. Latin America is growing significantly due to the presence of emerging economies with a high demand for advanced healthcare, particularly in countries such as Argentina, Chile, and Brazil.
Europe is the second largest market in the global Buerger's disease market due to the increasing incidences found in the region. Western Europe with its inclusion of Germany, U.K, and France dominate the market. Meanwhile, the Asia Pacific is poised to gro
w at the highest CAGR during the forecast period. Increasing awareness of Buerger's disease, increased investments in research and a focus on improving the regions healthcare sector are important factors governing the growth of the market in the APAC region. China and India are the major countries in the market and government support for the expansion of the market are likely to produce various opportunities in the future.
The competitive landscape for the global Buerger's disease market is made up of prominent players such as Koninklijke Philips N.V., t2cure GmbH, Siemens Healthcare GmbH, STEMPEUTICS RESEARCH PVT LTD, Pluristem, Toshiba Medical Corporation, FUJIFILM Holdings Corporation, Shimadzu Corporation, General Electric Company, and others. MRFR has recorded these players' market strategies and positions for the careful analysis of the market in total.
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