The global hemangioblastoma market is expected to grow at the rate of 6.1% during the forecast period (2018–2023)
Hemangioblastoma is a type of brain tumor, it is rare and slow growing disease. Uncontrolled growth occurs in the cell linings of blood vessels and it leads to a tumor. The disease-causing factor is unknown, but it is more likely to affect people with von Hippel-Lindau disease history or it can be sporadically. The growing awareness about cancer, increasing number of tumor surgeries, growing demand for advanced therapies and increasing healthcare expenditure are expected to drive the growth of the market. According to National Center for Biotechnology Information, US National Library of Medicine, 80% cases of hemangioblastoma are sporadic, whereas 20 to 25% develop in the context of Von Hippel–Lindau disease and it accounts for 7 to 10% of total brain tumor cases.
The rising cost of tumor treatment and scarcity of experts may hamper the growth of the market during the assessment period.
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The market in the Americas is expected to dominate the global hemangioblastoma market during the forecast period owing to the increasing prevalence of cancer along with the increasing healthcare expenditure, and well-established healthcare sector in the region. According to the American Cancer Society, there will be an estimated 1,735,350 new cancer cases diagnosed and 609,640 cancer deaths in the United States. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, and technological advancement in the region. Germany is the most affected country in the region and it has the highest number of cancer patients. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological development, an increasing number of chronic diseases, and favorable government initiatives for healthcare facilities. Asia-Pacific region has a large number of patients and it can provide opportunities for the major players in the market. The market in the Middle East & Africa is likely to account for the smallest share of the global hemangioblastoma market.
The global hemangioblastoma market has been segmented on the basis of tumor site, diagnosis, and treatment.
On the basis of the tumor site, the market has been classified as brain tumor, spinal cord tumor, and retinal tumor. A brain tumor is most common in all the three segments. The diagnosis segment has been classified as CT scan, MRI scan, and angiogram. According to the stage of cancer, experts can ask for multiple diagnostic tests.
The market, by treatment, has been segmented into surgery, chemotherapy, radiotherapy, corticosteroids, and anticonvulsants. Radiotherapy segment has been classified into conformal radiotherapy, intensity modulated radiotherapy (IMRT), stereotactic radiotherapy and radiosurgery. Corticosteroid segment has been further divided into hydrocortisone, dexamethasone, methylprednisolone, and prednisolone. Anticonvulsants segment has been further divided into carbamazepine, lamotrigine, levetiracetam, phenytoin, and sodium valproate.
Some of the key players in the global hemangioblastoma market are Eli Lilly and Company, Bedford Laboratories, Astellas US Holding, Inc., DNAtrix, Inc., Advantagene, Inc., Burzynski Research Institute, Inc., Direct Therapeutics, Inc., Cellectar Biosciences, Inc., and others.
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