Neurofibromatosis Treatment Market Industry Trends And Emerging Opportunities Till 2033

Overview and Scope

Neurofibromatosis treatment refers to the treatment of a genetic disorder that causes tumors to grow on nerve tissue, which can form anywhere in the body, including the brain, spinal cord and nerves. Neurofibromatosis treatment is used to manage symptoms, slow down the progression of the disease and prevent complications.

Sizing and Forecast

The neurofibromatosis treatment market size has grown rapidly in recent years. It will grow from $11.41 billion in 2023 to $13.09 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to aging population, advancements in ophthalmology, patient-centered care, global healthcare access.

The neurofibromatosis treatment market size is expected to see rapid growth in the next few years. It will grow to $21.58 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to research and drug development, telemedicine and remote monitoring, patient education and support, reimbursement policies. Major trends in the forecast period include vision rehabilitation services, collaborative care models, data analytics and ai, optic nerve prostheses and implants.

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Segmentation & Regional Insights

The neurofibromatosis treatment market covered in this report is segmented –
1) By Type: Neurofibromatosis 1 (NF1); Neurofibromatosis 2 (NF2); Schwannomatosis

2) By Treatment: Medications; Surgery; Radiation Therapy; Other Treatments

3) By End-Users: Hospitals; Clinics; Other End UsersNorth America was the largest region in the neurofibromatosis treatment market in 2023. The regions covered in neurofibromatosis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The rising healthcare expenditure is expected to propel the growth of the neurofibromatosis treatment market going forward. Healthcare infrastructure refers to all costs or outlays for medical care, preventative measures, public health initiatives, rehabilitation, community health activities and health research. Healthcare expenditure plays an essential role in developing neurofibromatosis treatment as it requires various medical procedures, such as surgeries, biopsies and imaging tests (MRI and CT scans). It also finances healthcare services, including general medical care, neurofibrosis treatment and others. For instance, in March 2022, according to the 2021–2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based federal agency, the annual increase in national health spending was predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Additionally, throughout 2021–2030, Medicare expenditures are expected to expand at a 7.2% annual rate, while Medicaid spending is expected to grow at a 5.6% yearly rate. Therefore, the rising healthcare expenditure is driving the growth of the neurofibromatosis treatment market.

Key Industry Players

Major players in the neurofibromatosis treatment market are Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, GSK PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Vertex Pharmaceuticals Inc., Dr. Reddy’s Laboratories, BioMarin Pharmaceutical, Allergan, BeiGene Ltd., BioXcel Therapeutics Inc., Blueprint Medicines Corp., Genway BioTech, SpringWorks Therapeutics, LGM Pharma LLC, Biotechnica Pharma Global, Affymax Inc.

The neurofibromatosis treatment market report table of contents includes: