The growing awareness about cerebral palsy is one of the major factors that would drive the cerebral palsy treatment market growth throughout the forecast period.For instance, in October 2022, Techwave, a top international IT and engineering solutions provider, shared its recent fundraising endeavor, the “STEPtember, Health & Fitness Challenge.” The movement is being launched in cooperation with the Cerebral Palsy Alliance Research Foundation to raise awareness and funds for families impacted by cerebral palsy.For instance, in March 2023, The United Cerebral Palsy Research Initiative for the second year began receiving grant applications for awards of up to D 20,000 on National Cerebral Palsy Awareness Day, March 25, for translational studies addressing premature diagnosis and treatment of cerebral palsy and related neurodevelopmental disabilities.Cerebral Palsy (CP) is a group of disorders caused by abnormal brain development or brain damage that impairs a person’s ability to control individual muscles.
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Market Dynamics
The rising healthcare expenditure in cerebral palsy treatment refers to the increasing amount of money that is being spent on medical care, research and development related to cerebral palsy. In developed countries, healthcare expenditure on cerebral palsy treatment is driven by the high cost of medical care and the need for specialized equipment and facilities. Moreover, Governments and NGOs are working by investing in healthcare infrastructure and facilities, as well as increasing awareness about cerebral palsy. Hence, owing to the above factors, the market is expected to drive over the forecast period.
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Segment Analysis
The Anticonvulsant Segment is Expected to Hold a Dominant Position in the Market over the Forecast Period.The anticonvulsant segment accounted for the highest market stake accounting for approximately 48.0% of the cerebral palsy treatment market in 2022. Anticonvulsants are used to reduce or avoid seizure activity, stabilize mood and depress brain activity without affecting breathing or sleepiness. The medical expert selects a drug and dose that is appropriate for the kind of seizure the child is experiencing and monitors the child for any adverse effects that may necessitate a prescription or dose revision.For instance, the common anticonvulsants include Gabapentin (Neurontin), Lamotrigine (Lamictal), Oxcarbazepine (Trileptal), Topiramate (Topamax) and Zonisamide (Zonegran) among others. Moreover, the increasing number of clinical trials by the research instituted is the other factor expected to boost the anticonvulsant segment over the forecast period.
Competitive Landscape
The major global players in the market include Merz Pharmaceuticals, LLC., Pfizer Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc., Novartis, AbbVie Inc., Par Pharmaceutical and Hikma Pharmaceuticals Plc among others.
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