The global hypotonia market is expected to grow at a CAGR of 5.8% during the forecast period (2017-2023).
Hypotonia is a medical condition in which babies are born with a ‘floppy’ head, owing to the fact that they have less to no control over their neck muscles. This condition has become increasingly prevalent in recent times, owing to the comparatively unhealthy lifestyles that mothers are exposed to. Not only are the environmental conditions such as the severe pollution, a cause for hypotonia, but the lifestyle of women where they are exposed to alcohol, tobacco, and harmful drugs, a reason for the prevalence of the increasing incidence of hypotonia.
The global hypotonia market is majorly driven by the growing cases of hypotonia in current times, while other factors driving the growth of the market are the increasing investments towards research and development projects towards the introduction of advanced treatment methods to provide babies suffering from hypotonia better-living standards and aid.
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However, the currently limited availability of facilities and higher cost of treatment is expected to hinder the market growth during the prediction period.
The key players identified in the market are EnteroMedics Inc. (U.S.), LivaNova PLC (U.K), ImThera Medical (U.S.), ElectroCore Medical LLC (U.S.), Cyberonics, Inc. (U.S.), Boston Scientific Corporation (U.S.), NeuroMetrix, Inc.(U.S.), and Inspire Medical Systems, Inc.(U.S.), and others.
The global hypotonia market is segmented based on types, diagnosis, treatment, and end-user.
- On the basis of the Types of hypotonia in the market, it is segmented into acquired hypotonia and congenital hypotonia.
- On the basis of Diagnosis methods available in the market, it is segmented into assessment of cerebrospinal fluid, blood tests, metabolic panel tests, computerized tomography or CT scan or magnetic resonance imaging (MRI) scan, electroencephalogram physical examination, genetic testing, electromyography, muscle biopsy, evaluation of thyroid hormone, nerve conduction velocity, and others.
- On the basis of Treatment,the hypotonia market is segmented into drugs, occupational therapy, physiotherapy, speech and language therapy, and others. Drugs are further segmented into physostigmine, neostigmine, and others.
- On the basis of the End-user, it is segmented into research laboratories, hospitals & clinics, and others.
The Americas, that is, north and Latin America, are expected to dominate the global hypotonia market due to well-established technology, high health care spending, growing patient population, and growing government support for research & development activities. Also, the increase in R&D activities that are likely to take place in the forecast period, and the presence of key players have driven the growth of the hypotonia market in this region over the review period.
Europe is assessed as the second largest market share in the global hypotonia market due to government support for research & development activities for the treatment options and accessibility of funds for research. This is likely to continue to fuel the European market for hypotonia over the forecast period. The developed economies of the region, such as Germany and France, are also expected to increase investments in the healthcare sector and are likely to focus more on hospital infrastructure.
The Asia Pacific is the fastest growing hypotonia market due to the presence of rapidly developing healthcare technology, high healthcare expenditure, and huge patient population in the region. Furthermore, the ever-increasing patient population in countries like India, Japa, and South Korea are possible to develop as the fastest-growing markets for hypotonia across the globe. Also, growing demand for quality medical devices in the healthcare sector is expected to lead the usage of progressive equipment, which, in sequence, may surge the market growth in this region.
On the other hand, the Middle East & Africa holds the smallest market share of the hypotonia market due to low availability of expenditure, and deprived political conditions in certain regions of Africa along with limited medical facilities.