The global xanthoma market is expected to reach USD 8.0 billion by 2023, and the market is projected to grow at a CAGR of ~ 6.0 % during the forecast period 2017-2023.
Xanthoma is a dermatologic condition in which fat grows underneath the skin, which vary in size ranging from a pinhead to as large as a grape. They usually appear like a flat bump under the skin and sometimes yellow or orange colored. They usually don’t cause any pain with some minor irritation such as tenderness and itchy feeling. There may be clusters of growths in the same area or several individual growths on different parts of the body. The exact causes of xanthoma are unknown, however, genetic factors have been indicated such as cognosis type 1a, autosomal recessive hypercholesterolemia, alagille syndrome and cholestanol storage disease.
The market drivers of the global Xanthoma Market are rising demand due to growing population, increasing screening, greater emphasis on restorative procedures, rising safety and success of xanthoma treatment, and others. However, the complications such as the risk of bleeding, infections, pain, especially, during surgery, the high cost of xanthoma treatment, poor understanding for the disease and others may hamper the market growth over the forecast period.
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The risk factors for xanthoma are high levels of blood lipids, or fats, hyperlipidemia, or high blood cholesterol levels, diabetes, cancer, hypothyroidism, biliary cirrhosis, cholestasis, nephrotic syndrome, hematologic diseases such as monoclonal gammopathy and other metabolic disorders. A side effect of certain medications, such as tamoxifen, prednisone, cyclosporine, and others.
Top Key Player of this Market:
Some of the key players profiled in the report are AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Bayer HealthCare Pharmaceuticals LLC, Pfizer Inc., Novartis International AG, Teva pharmaceutical industries, Novo Nordisk, and Sanofi.
Regional Analysis:
The Americas account for a significant market share owing to high expenditure on the health care, especially, of the U.S. and Canada. Additionally, the greater number of dermatology procedures due to greater healthcare penetration in the U.S. and Canada drives the xanthoma market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. Moreover, the large share of dermatology procedures, especially, the xanthoma surgery treatment in the returns of hospitals favors the market. The large number of pharmaceutical companies in the U.S. is also a cause of faster development of the Xanthoma Industry in the US.
Europe is the second largest market in the world due to the growing pharmaceutical industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to the large pharmaceutical industry.
Asia Pacific region is expected to grow rapidly; China and India are likely to lead this market due to the fast-growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare industry in the Asia Pacific region is expected to drive the future xanthoma market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt, and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to the poor social development and tribal identities such as sub-Saharan Africa.
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