Hemangioma Treatment Market: Introduction
- Hemangioma is a red color birthmark, usually appearing in the first and the second week of birth. Hemangioma is a benign or non-cancerous tumor, made of blood vessels and usually looks like rubbery bump on the skin. It occurs on the face, chest, scalp, and back. Various kinds of hemangioma appear in muscles, bone, or internal organs of the body. The primary site of occurrence is usually on the face and neck, with different colors, shapes, and sizes. Usually, hemangioma is rarely cancerous, and hence does not require medical treatment. Due to the disfigured shape and size, many people seek medical advice, usually for cosmetic purpose. Surgery is not a treatment option; however, it is only recommended when the tumor is present deep inside the muscles or bone or when the tumor on skin causes difficulties in vision, eating, or breathing.
- According to research, around 1 in 20 infants is likely to have hemangioma. However, this condition is most commonly found in Caucasians and happens usually in girls, premature infants, twins, and triplets. Infantile hemangioma is usually common in infants and disappears after some time. The prevalence of infantile hemangioma is unknown. However, according to research, the prevalence of infantile hemangioma is estimated to be as high as 10%.
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Key Drivers and Restraints of Global Hemangioma Treatment Market
- Increase in incidence of hemangioma in infants and children across the globe are projected to drive the global hemangioma treatment market. According to research, spinal hemangioma occurs in nearly 10% of the world’s population, which increases the need of treatment. Spinal hemangioma mostly occurs in people in the 30 years to 50 years age group and often shows no symptoms. Various studies have indicated that spinal symptomatic hemangioma is likely to occur in less than 1% of the hemangioma patient population. If symptomatic hemangioma is left untreated, the condition can lead to serious neurological effects.
- Approval of the new drugs for treating hemangioma and recent merger & acquisition are likely to augment the global hemangioma treatment market. Proper diagnosis and rise in minimal invasive procedure in removing tumors present in the internal organs of the body is estimated to propel the market during the forecast period. Moreover, technological advancements leading to the development of surgical or minimal invasive procedures for treating hemangioma are anticipated to boost the growth of the global hemangioma treatment market.
North America to Lead Global Hemangioma Treatment Market
- In terms of region, the global hemangioma treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global hemangioma treatment market during the forecast period, owing to higher number of minimal invasive surgeries, increase in infantile hemangioma, and rise in cases of adult hemangioma. Presence of key players in the region offering various oral and topical medication for treating hemangioma is another factor propelling the market in North America. Capillary hemangioma cases are registered at a regular pace, which is likely to offer significant opportunities for local players to address the unmet need of hemangioma treatment in the region. Expertise in offering proper diagnosis of the condition along with supportive health care expenditure, government initiatives, and demand for better treatment are factors projected to augment the market in North America.
- Europe was the second largest market for hemangioma treatment in 2019, followed by Asia Pacific. Availability of various drugs and other surgical procedures for hemangioma condition for infants are anticipated to drive the hemangioma treatment market in Europe. Asia Pacific is expected to be the fastest growing market for hemangioma treatment during the forecast period. This can be attributed to increase in minimally invasive surgeries, availability of drugs, efficient diagnostic procedures, and surge in incidence of hemangioma in adults & infants.
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Key Players Operating in Global Hemangioma Treatment Market
The global hemangioma treatment market is fragmented, with the presence of a number of large and small players. Major players operating in the global hemangioma treatment market are:
- Pierre Fabre
- BIOLASE, Inc.
- Quanta System S.p.A.
- Pfizer, Inc. (U.S.)
- Cutting Edge Laser Technologies
- Novartis AG
- Linline Medical Systems
- Other Prominent Players
Global Hemangioma Treatment Market: Research Scope
Global Hemangioma Treatment Market, by Hemangioma Type
- External Hemangioma
- Capillary Hemangioma
- Cavernous Hemangioma
- Lobular Capillary Hemangioma (pyogenic granuloma)
- Compound Hemangioma
- Internal Hemangioma
- Muscle Hemangioma
- Bone Hemangioma
- Spinal Hemangioma
Global Hemangioma Treatment Market, by Age Group
- Infantile Hemangioma
- Adult Hemangioma
Global Hemangioma Treatment Market, by Treatment
- Drugs Class
- Beta blocker Medication
- Anti-inflammatory Medication
- Laser Treatment
Global Hemangioma Treatment Market, by End-user
- Specialty Centers
Global Hemangioma Treatment Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.