San Francisco, California, November 14, 2018: According to a recent market research report by TMR Research, the global market for cerebral palsy has picked pace owing to a vast improvement in awareness among parents regarding the condition and the available treatment methods. The report also suggests that the factor will continue to remain the leading driver for the market over the period between 2017 and 2025. The report is titled “Cerebral Palsy Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025.”
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The market is also likely to benefit from the improved access to advanced healthcare facilities gained by a constantly rising set of people across the globe and improved affordability of advanced treatments owing to rising disposable incomes globally. Increased funds being spent on R&D activities with the aim of developing more effective cures for the condition are also expected to help the market expand at a promising pace in the next few years.
In emerging economies, encouraging government policies are driving pharmaceutical companies to expend increased resources on the development of better treatments for cerebral palsy. In developed economies, supportive medical reimbursements are likely to help the market pick pace. On the other hand, certain challenges such as the side effects associated with the use of common cerebral palsy treatments and preference to alternative treatment methods such as rehabilitation and physiotherapy in a number of regional markets could hamper the growth prospects of the market to a certain degree.
From a geographical standpoint, the market in North America is presently the leading regional market for cerebral palsy treatments as the region has well-established healthcare facilities and encouraging medical reimbursement scenario. The high prevalence of the condition and a high level of awareness among parents also work in favor of the regional market.
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Some of the leading companies operating in the global cerebral palsy market are Cell Cure Neurosciences, Ltd., Acorda Therapeutics, Inc., CHA Bio & Diostech Co., Ltd., Allergan, Inc., K-Stemcell Co., Ltd., Cellular Biomedicine Group, Inc., and Neuralstem, Inc.