According to a report published by the National Center for Biotechnology Information in June 2017, the incidence rate of Addison’s disease is 0.6 per 100,000 of the population per year. Despite the drivers, difficulty in diagnosis in early stages and lack of knowledge can restrain the market growth over the assessment period.
Global Addison’s Disease Market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 168 million in 2017 and is projected to grow at a CAGR of 10.4% over the forecast period.
Addison’s disease is a disorder which occurs when the body produces scarce amounts of specific hormones produced by the adrenal glands. When a person has Addison’s disease, the adrenal glands produce too little cortisol and often inadequate levels of aldosterone as well. It is also known as adrenal insufficiency. Addison’s disease can affect all age groups and can occur in both males’ females. The disease can be life-threatening.
Major Factors such as the growing prevalence of Addison’s disease, increasing awareness of the disease, and rising healthcare expenditure is expected to propel the growth of the market. However, lack of awareness and inability to diagnose the disease in early stages can hamper the market growth over the forecast period.
Global Addison’s disease Market has been segmented into diagnosis, treatment and end user.
The market, on the basis of diagnosis, has been segmented into laboratory tests and imaging tests. Laboratory tests have been further segmented into blood tests, ACTH stimulation tests, insulin-induced hypoglycemia test, and other tests. Blood tests are expected to hold the largest market share owing to their high effectiveness to diagnose the disease and preference among the physicians. ACTH stimulation test is expected to be the fastest growing market due to the low cost of the diagnosis method. Imaging tests have been segmented into chest radiography and CT scan.
The market, by treatment, has been segmented into oral corticosteroids and corticosteroids injections.
The market, by end user, has been segmented into hospitals clinics, diagnostic laboratories, and other end users.
Global Addison’s Disease Market: The increasing prevalence of Addison’s disease is projected to boost the market growth during the forecast period from 2018 to 2023
Global Addison’s Disease Market Major Key Stockholders are Pfizer Inc., Boehringer Ingelheim International GmbH, Shire, Tocris Bioscience, GlaxoSmithKline plc, Merck KGaA, Lupin Pharmaceuticals, Inc., Abbott, Amgen Limited Amgen Ireland Limited, Bayer AG, Biogen, Eli Lilly and Company, Novartis AG, Diurnal, Switzer Life science Pvt. Ltd.
Geographically, the Americas is expected to dominate the global market owing to the presence of well-developed healthcare sector, raising awareness of the disease and favorable reimbursement policies. Europe is expected to hold the second largest position in the global market owing to the growing awareness about the disease coupled with increasing healthcare expenditure. Asia-Pacific is expected to be the fastest growing market owing to the rising prevalence of the disease and increasing developments in pharmaceuticals diagnostics segment. Furthermore, the Middle East and Africa region are expected to account for the least market share in the global market.