The global Apraxia Market is growing rapidly. Growing prevalence of apraxia is a key driving force behind market growth. Heady lifestyle is the root cause of many psychosomatic diseases and disorders. Today, lack of sound sleep and mental imbalance is affecting the lives of several children and adults. People are increasingly falling prey to the changing lifestyle that leaves no room for relaxation, leaving them sleep-deprived and frustrated.
This, as a result, fuels the prevalence of neurological disorders such as apraxia. Fortunately, several breakthrough drugs and therapeutics are available in the market to treat apraxia growing at an alarming rate. With advances in technologies, many promising medicines are being developed, which can offer favorable outcomes. With the interventions of advanced technologies, today, specialists are developing breakthrough therapies & treatments that are phenomenally close.
These factors cumulatively escalate the growth of the market. According to Market Research Future (MRFR), the global Apraxia market is poised to grow at approximately 6.4 % CAGR during the forecast period (2017 – 2023). Increasing R&D investment in biotechnology and pharmaceutical industries and rising demand for effective treatment methods drive the growth of the market. Moreover, favorable reimbursement policies and increased application of advanced therapeutics boost market growth.
Additionally, significant investments in the development of new technologies for the treatment of various neurological diseases fuel the growth of the market. Evidently, technological advancements transpired into the field of medical science are providing impetus to the market growth. Moreover, the seminal efforts of key market players constantly bringing innovations and medical devices to treat apraxia bolster market growth.
Growing prevalence of mental disorders fuelled by the fast life and various prevailing addictions such as alcohol, narcotics and etc., fuel the growth of the market. Initiatives taken by governments worldwide play a causal role in the development of the market. Grants and funding opportunities to treat apraxia foster market growth. On the other hand, the high cost of treatment procedures is a significant factor expected to impede the growth of the market.
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Global Apraxia Market – Segmentations
The report is segmented into five dynamics;
By Type : Ideomotor Apraxia, Ideational/Conceptual Apraxia, Buccofacial/Orofacial Apraxia, Constructional Apraxia, Gait Apraxia, Limb-Kinetic Apraxia, Oculomotor Apraxia, and Apraxia of Speech.
By Diagnosis : Test to Measure Upper Limb Apraxia, MRI, and others.
By Treatment : Speech Therapy, Occupational Therapy, Physical Therapy, and others.
By End User : Hospitals & Clinics, Research Centers, and others.
By Regions : Europe, North America, APAC and Rest of the World.
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Global Apraxia Market – Regional Analysis
North America dominates the global apraxia market. The largest market share attributes to the rising prevalence of neurological disorders and high healthcare expenditures. Besides, technology advances in drug development and device manufacturing techniques drive regional market growth. Also, increasing R&D activities and the presence of major companies fuel the growth of the regional market. Furthermore, increasing government support for research & development is one of the key factors driving the regional market growth.
Europe stands second in the global apraxia market. Technological advancements in the burgeoning healthcare industry are key driving forces behind the market growth, bringing about new effective drugs for treatments with greater outcomes. Moreover, rising government support and availability of funds for research & development drive the regional market growth. The European apraxia market is projected to create a substantial revenue pocket over the review period.
The Asia pacific apraxia market has emerged as the fastest-growing market globally. The rapidly developing healthcare technology and rising high healthcare expenditure boost the regional market growth. Moreover, increasing new opportunities and patient populations in countries like China, India, Japan, and South Korea foster market growth. Furthermore, increasing demand for quality medical devices increases the growth of the market in the region, leading to the increased use of advanced equipment. The APAC apraxia market is expected to grow at a considerable CAGR in the next six years.
Global Apraxia Market – Competitive Analysis
Fiercely competitive, the global Apraxia market appears fragmented with several well-established players operating in the market. These players incorporate strategies such as mergers & acquisitions, collaborations, expansions, and product/ technology launch. Top players invest heavily in R&D and clinical trials to develop effective drugs and devices to treat the condition.
Players leading the global apraxia market include Codman & Shurtleff, Inc., Medtronic Plc., Raumedic AG, Sophysa Ltd., Vittamed, MicroPort Scientific Corporation, Spiegelberg GmbH, Orsan Medical Technologies, Johnson & Johnson, HaiWeiKang, Sophysa Ltd, Head Sense Medical, Integra Life Sciences Corporation, and InfraScan, Inc., among others.
Industry/Innovation/ Related News:
July 29, 2020 —– Vico Therapeutics (Netherlands), a biotech company, announced that it has raised USD 31 MN in a fundraising series. Vico focuses on the development of RNA modulating therapies for rare neurological disorders. The funding would be used to advance its late-preclinical stage Antisense OligoNucleotides (AON) lead platform for the development of therapies for different forms of Spinocerebellar Ataxia (SCA) and Huntington Disease (HD).
The financing was led by Life Science Partners (LSP), co-led by Kurma Partners, and supported by Pontifax, Polaris Partners, Droia Genetic Disease, Pureos Bioventures, and Idinvest Partners.