Hemifacial spasm (HFS) is a disorder related to the nervous system in which the muscles on either side of the face twitch involuntarily, this is usually caused by a blood vessel touching a facial nerve. It is a neuromuscular disorder characterized by frequent, involuntary contractions of muscles on the face.
Acknowledging the exponential growth, the market is witnessing continually, Market Research Future (MRFR), in its recently published study report asserts that the Hemifacial Spasm Market Research is anticipated to reach USD 3170 Million by 2030 at 5.4% CAGR during the forecast period 2022-2030.
The spreading awareness towards the availability of the HFS treatment is a key driving force behind the exponentially growing hemifacial spasm market. Moreover, the successful discoveries of many novel medicines and therapeutics to treat hemifacial spasm are simultaneously, escalating the market on the global platform.
Improving economic conditions worldwide are defining the growth of the hemifacial spasm market, enabling access to the quality of life to the improved healthcare. Moreover, many ongoing researches that have achieved significant progress in discovering breakthrough medicines are increasing the size of the hemifacial spasm market.
Technological advancement transpired into medical science is a key driving force pushing up the growth of the market bringing about advanced diagnostic and treatment procedures. Moreover, the increasing emphasis on early diagnosis of the disorder that can result in lasting effects for the rest of an individual’s life, defines the market landscape.
Additional factors encouraging the market growth include increasing incidences of facial chorea and craniofacial tremor, unmet medical needs, improving regulatory framework, increasing government assistance, increasing adoption rate, and rising funding and reimbursement.
On the other hand, factors such as the challenges in diagnosis, cost of treatment, side-effects of botulinum toxin, the presence of misbranded and spurious drugs, and poor healthcare system in developing and under developed regions are impeding the growth of the market.
Global Hemifacial Spasm Market – Segments
The MRFR analysis is segmented into four key dynamics for enhanced understanding.
By Diagnosis : Magnetic Resonance Imaging (MRI), Computed Tomography (CT or CAT scan), and Angiography among others.
By Treatment : Medical Treatment, Surgical Treatment, Combinational Therapy, Transcutaneous Electric Nerve Stimulation (TENS) Therapy, and Physical Therapy among others.
By End-user : Hospitals, Clinics, Diagnostic Centers, Drug Stores, and Pharmacies among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Hemifacial Spasm Market – Regional Analysis
The North American region, heading with rising technological advancements and high healthcare expenditure accounts for the leading market for hemifacial spasm treatment. Factors such as the Presence of major medical device manufacturers, pharmaceutical companies, and well-developed healthcare industry positively impacts the growth of the regional market.
Technological advancements in the burgeoning healthcare industry are providing new effective drugs for treatments that can give better outcomes, and this is one of the key factors driving the growth of the regional market. Furthermore, the rising awareness about the availability of treatments for hemifacial spasm and the availability of emergency diagnostic services foster the market growth in the region.
The hemifacial spasm market in the European region holds the next largest share in the global market, owing to the resurging economy that is availing the best possible healthcare and increasing the healthcare expenditures. Germany, France, and the U.K backed by the increasing demand for the technological advanced diagnostic devices account for the major contributors to the European hemifacial spasm market.
The well-developed healthcare sector and the notable pharmaceutical companies that are engaged in RD activities for the development of new drugs to treat hemifacial spasm are some of the key driving forces pushing up the growth of the regional market. Additionally, government support is fostering the market growth in the region, encouraging the market players to develop effective therapeutics.
Whereas, the Asia Pacific hemifacial spasm market is growing rapidly, emerging as a promising market, globally owing to the introduction of new advanced diagnostic options such as CT scan. The rising demand for specialty healthcare services in emerging countries such as India has fueled the growth of the regional market.
Also, factors such as the ever-increasing population and the integration of advanced technologies in the healthcare sector are propelling the growth of the regional market. Asian countries especially, India and China provide immense growth opportunities for the hemifacial spasm market, accounting for the considerable investment in RD activities for prognostic treatments and drug formulation.
Hemifacial Spasm Market – Competitive Analysis
Highly competitive, the hemifacial spasm market appears to be widely expanded and fragmented characterized by several small and large-scale companies operating the market. Matured players incorporate strategic initiatives such as partnership, acquisition, collaboration, product launch, and expansion, gaining a competitive advantage and thus maintaining their positions in this market.
These players ensure their mission success, focusing on optimizing situational awareness towards customers. They invest substantially in the RD and clinical trials to develop breakthrough treatment procedures and drugs. To maximize their efficiency in the process and operations, key players are focusing on developing a bettered method, a diagnostic and treatment-response of the disease.
Major Players
Key players leading the global hemifacial spasm market include Allergan, Inc., Abbott, Cephalon Inc., Ipsen Group, GlaxoSmithKline plc, Johnson Johnson Services, Inc., Merz Pharma GmbH and Co. KGaA, Medytox, Inc., Novartis AG, Pfizer, ROCHE, Revance Therapeutics, Inc., Sanofi S.A, Shire plc, UCB S.A., Stryker, Sunovion Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., and US WorldMeds, LLC.
Industry/Innovation/ Related News:
February 01, 2019 --- Lupin Limited (India), a leading global pharmaceutical company developing and delivering a wide range of branded generic formulations, biotechnology products and APIs launched its revolutionary new drug - NaMuscla (mexiletine) to treat the symptomatic treatment of myotonia in adults with non-dystrophic myotonic (NDM) disorders in Germany and the UK.
NaMuscla is approved across the European Union for NDM disorders which are a group of rare, inherited neuromuscular conditions in which myotonia, the inability to relax muscles following voluntary contraction, is the most prominent clinical symptom. NaMuscla reduces myotonia symptoms in adult patients, resulting in a significant improvement in patient quality-of-life and other functional outcomes.
January 11, 2019 --- Ipsen (France), a global biopharmaceutical group focused on innovation and specialty care announced that abobotulinumtoxinA (Dysport®) and its recombinant botulinum toxins pipeline are the key topics of the company at the 2019 TOXINS International Conference.
Results are presented in the form of posters from basic science to clinical and patients and caregivers surveys. Data highlights include further differentiation of Dysport® in the treatment of spasticity and movement disorders, results from the first in-human study of a recombinant neurotoxin (rBoNT-E), real life data (ULIS-III) as well as a survey with insights from patients and caregivers on the burden of spasticity (Carenity).
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