Cerebral palsy is defined as a group of disorders that affect muscle movement and coordination, which in many cases, impairs vision, hearing, sensation and others senses. Cerebral palsy is a congenital disorder of movement, muscle tone or posture and can affect a person’s posture, balance and ability to move, communicate, eat, sleep and learn. According to the Centre for Disease Control 1 to 4 out of every 1,000 children across the globe are affected by cerebral palsy, thereby creating a strong demand for dia gnosis, and treatment for the condition which will drive growth for cerebral palsy market.
Cerebral Palsy Market Size was valued at USD 2.6 billion in 2022. The Cerebral Palsy market industry is projected to grow from USD 2.68 Billion in 2023 to USD 3.24 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.20% during the forecast period (2023 - 2030).
Segmentation
The cerebral palsy market has been segmented into type, diagnosis, and treatment.
On the basis of type, cerebral palsy market has been segmented into hypotonic cerebral palsy, spastic cerebral palsy, ataxic cerebral palsy, dyskinetic cerebral palsy, and mixed cerebral palsy.
By diagnosis, CP market segmentation includes imaging tests and others. The imaging tests segment has been further classified into computed tomography, magnetic resonance imaging (MRI), cranial ultrasound, and electroencephalogram.
Based on treatment, cerebral palsy market has been segmented into therapy, medication, surgery, cerebral palsy drugs and others.
Regional Market Summary
Geographically, the Americas region is anticipated to dominate the global cerebral palsy market owing to a well-developed healthcare sector, rising prevalence of cerebral palsy and growing healthcare expenditure. Additionally, favorable reimbursement scenario in this region and a relatively large number of research and development (RD) activities contributes to the growth of the market.
Europe is expected to hold the second largest position in the global cerebral palsy market. The market growth in this region is attributed to the growing prevalence of cerebral palsy, availability of funds for research, and increasing healthcare expenditure. According to the data stated by the National Institute for Health and Care Excellence (NICE) in 2017, in the UK, it is estimated that 1 in 400 babies are born with cerebral palsy. It also stated that approximately 1,800 children diagnosed with CP each year.
The cerebral palsy market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population, continuously developing economies, rising prevalence of cerebral palsy and increasing government funding for the healthcare sector.
On the other hand, the Middle East Africa has the least share of the market. Majority of the market of this region is expected to be held by the Middle East region due to a well-developed healthcare sector and growing government initiatives for the healthcare sector.
Competitive Overview:
Allergen Plc, Cellular Biomedicine Group, Merck Co., Inc., Pfizer, Inc., GlaxoSmithKline Plc, Abbott Laboratories, Acorda Therapeutics, Inc., Medtronic, Meridigen Biotech Co., Ltd., GW Pharmaceuticals Plc, and Cell Cure Neurosciences Ltd. are some of the key Cerebral Palsy Market players
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