Essential Tremor Treatment Market: Current Analysis and Forecast (2021-2027)
Essential Tremor Treatment Market is expected to exceed the market valuation of more than US$ XX million in 2027 and is expected to grow at a significant CAGR of XX% during the forecast period (2021-2027). The increasing geriatric population is the main cause for the increase in ET cases. According to global data in 2019, 141 cities in the United States and Canada are projected to have an old-age dependency ratio of more than 30% by 2025. In Canada, the elderly population was higher than the number of children in 2018, and the same is expected to happen in the United States over the next two decades.
There are approximately 10 million Americans who are currently suffering from ET. Among the various types of tremors, essential tremors are the most common. However, there are still many cases of misdiagnosis of tremors. The Canadian Journal of Neuroscience published that general neurologists could misdiagnose treatments for essential tremors 25-35% of the time. Very few medications are currently available for ET, however, technological advancements are growing and so are the treatments. As more medications are being approved and launching in the market the essential tremor treatment market is growing at a significant rate.
Cleveland Clinic, CenterWatch, Sage Therapeutics Inc., Neurocrine Biosciences Inc, Mayo Clinic, Merz Pharma GmbH and Co KgaA, and UVA Health System are some of the prominent players operating in the Essential Tremor Treatment market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst Type, NBI-640756 segment holds the major share”
Based on Type, the essential tremor treatment market is segmented into NBI-640756, SAGE-217, Sepranolone, and Others. Amongst types, the NBI-640756 segment of the market was valued at US$ XX million in 2020 and is likely to reach US$ XX million by 2027 growing at a CAGR of XX% from 2021-2027. NBI-640756 by Neurocrine Biosciences has completed its phase I trial on up to 32 healthy volunteers. The product shows promise once launched in the market. More than 5% of the world population is affected by ET and additionally, 50-60% of essential tremor patients have a close relative also affected by ET.
“Amongst Application, hospitals segment holds the major share”
Based on Application, the essential tremor treatment market is segmented into Research Center, Clinics, Hospitals, and Others. Amongst application, Hospitals accounted for a market valuation of US$ XX million in 2020 and is expected to reach US$ XX million by the year 2027, at a CAGR of XX% over the analyzed period.
“North America represents one of the largest markets of Essential Tremor Treatment Market”
For a better understanding of the market dynamics of the Essential Tremor Treatment Market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. North America dominated the market and grabbed around XX% market share owing to an increase in the geriatric population and the prevalence of essential tremors.
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