Expansion in Emerging Economies in Asia Pacific and Latin America to Offer Opportunities to Buerger’s Disease Treatment Market
- Key companies operating in the market are focused on expansion of their product portfolios by developing new products with reduced side-effects and enhanced effectiveness to treat Buerger’s disease.
- Emerging economies are major markets for Buerger’s disease treatment due to expansion of healthcare infrastructure in these economies
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- Penetration of advanced healthcare disease treatment techniques is significantly high in developed countries. However, the rate of adoption is low in emerging economies in Asia and Latin America due to lack of awareness related to Buerger’s disease treatment in these regions.
- Economic development, rise in disposable income of patients, and increase in healthcare awareness in Asia and Latin America are gradually attracting major players to expand their business in these regions
- Several countries in Asia Pacific are taking prominent initiatives to address issues related to drug abuse. Additionally, various government bodies are spending significant amounts of money to promote awareness about the prevention and treatment of tobacco addiction.
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Key Drivers and Restraints of Global Buerger’s Disease Treatment Market
- Increase in favorable reimbursements for smoking cessation therapy, rise in the number of private insurance players, and surge in awareness about tobacco addiction by manufacturers and governments are driving the global Buerger’s disease treatment market
- Tobacco abuse treatment providers and manufacturers of treatment products are focused on the creation of awareness among people and drug store owners about the adverse effects of tobacco in order to expand their customer pool.
- For instance, cigarette smoking is a major cause of Buerger’s disease. Awareness about these health hazards has prompted patients to opt for smoking cessation therapy. Smoking cessation campaigns have thus proved to be a major driver of the global Buerger’s disease treatment market.
- Low awareness about addiction treatment products in developing countries is expected to restrain the market during the forecast period
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Blood Tests Segment to Expand Significantly
- Based on diagnosis type, the global Buerger’s disease treatment market can be divided into blood tests, the Allen’s test, angiogram, tissue biopsy, and others. The angiogram segment can be further sub-segmented into CT scan, MRI scan, X-ray, and others.
- Increase in the number of blood tests for the diagnosis of Buerger’s disease is expected to drive the market for Buerger’s diseases treatment market. Also, blood test is the primary test that a physician suggest to rule out the Buerger’s disease.
Hospitals Dominated the Buerger’s Disease Treatment Market
- Based on end-user, the global Buerger’s disease treatment market can be classified into hospitals, clinics, medical research centers, academic institutes, and others
- Expansion of the segment can be attributed to a rise in prescription filling at hospital pharmacies, availability of certified physicians in hospital pharmacies, advice for use of drugs from certified physicians, and authenticity of quality and price of medicines.
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North America to Lead Global Buerger’s Disease Treatment Market
- In terms of region, the global Buerger’s Disease Treatment market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to account for a major share of the global Buerger’s disease treatment market during the forecast period, owing to the increased number of tobacco addiction among youngsters. Moreover, surge in awareness regarding health hazards of smoking, government initiatives for distribution of smoking cessation and nicotine de-addiction products, increase in taxes that fuel the cost of cigarettes, and stringent laws for smoking are likely to fuel the market in the near future.
Key Manufacturers Operating in Market
The global Buerger’s disease treatment market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- FUJIFILM Holdings Corporation
- GE Healthcare
- Koninklijke Philips N.V.
- Pluristem Therapeutics Inc.
- Shimadzu Corporation
- Siemens Healthcare GmbH
- Stempeutics Research Pvt. Ltd.
- Canon Medical Systems Corporation
- t2cure GmbH
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