Market Scenario:

Fibromuscular dysplasia (FMD) is a disease that causes abnormal cell development in the artery wall, which results in narrowing, i.e., stenosis, and enlargement, i.e., aneurysm of the medium-sized arteries in the body.

According to a study published in the Insights into Imaging in 2015, it is found that the prevalence of fibromuscular dysplasia is estimated to be 4%-6% in the renal arteries and 0.3%-3 % in the cervico-encephalic arteries. Fibromuscular dysplasia is most frequently revealed in the kidneys of young patients associated with resistant hypertension secondary to fibrodysplastic renal artery stenosis. It is also reported that fibromuscular dysplasia is found in around 1% of the hypertensive patients, and is the second leading cause of renovascular hypertension after atherosclerotic disease.

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Notably, rising prevalence of fibromuscular dysplasia and increasing R&D expenditure are the key factors driving the fibromuscular dysplasia market. In the year 2016, the R&D expenditure in the pharmaceutical Industry was USD 43,047.9 million, suggested by European Federation of Pharmaceutical Industries and Association.

Various other factors such as increasing government assistance, rising healthcare expenditures, improving regulatory framework, and rising funding and reimbursement policies are continuously contributing to the growth of the global fibromuscular dysplasia market. According to the Eurostat data, it is observed that among the European Union Member States, the highest value of healthcare expenditure was recorded in Germany, i.e. EUR 321 billion, which is further followed by France with EUR 237 billion, and the United Kingdom with EUR 223 billion, in 2014.

Despite these driving factors, there are some challenges with fibromuscular dysplasia market. Side-effects of treatment, expiration of patented drugs, the presence of misbranded drugs, and poor healthcare system in low and middle-income countries may hamper the growth of the market to a great extent over the review period 2017-2023.

It is estimated that the fibromuscular dysplasia market is expected to grow at a CAGR of 7.5% during the forecast period of 2017-2023.

Segmentation

The global fibromuscular dysplasia market is segmented on the basis of type, diagnosis, treatment, and end-user.

On the basis of the type, the market is classified as multifocal fibromuscular dysplasia, and focal fibromuscular dysplasia.

On the basis of the diagnosis, the market is classified as physical examination, blood test, catheter-based angiography, doppler ultrasound, computerized tomography (CT) angiogram, magnetic resonance imaging (MRI), and others

On the basis of the treatment, the market is classified as surgery, medication, and others. The surgery segment is further sub-segmented into percutaneous transluminal angioplasty (PTA), and surgical revascularization. The medication segment is further sub-segmented into angiotensin-converting enzyme (ACE) inhibitors, angiotensin II receptor blockers, diuretics, calcium channel blockers, and beta blockers.

On the basis of the end-user, the market is segmented into hospitals & clinics, diagnostic centers, drug stores, pharmacies, and others.

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Regional Analysis

The Americas dominate the global fibromuscular dysplasia market owing to the rising prevalence of fibromuscular dysplasia and high healthcare expenditure. In 2015, the total health expenditure in the U.S. was reported to be USD 3.2 trillion, and hospital care accounted for a share of 32.3%, suggested by Centers for Disease Control and Prevention.

Europe holds the second position in the fibromuscular dysplasia market. It is found that the rising research & development expenditure, and amendments in the reimbursement policies in the healthcare are likely to drive the European market.

The Asia Pacific region is the fastest growing fibromuscular dysplasia market owing to the developing healthcare technology, and huge patient pool. Healthcare expenditure of various Asia Pacific countries is also growing steadily. As per the Australian Institute of Health and Welfare in the years 2015-2016, the total healthcare expenditure in Australia was recorded to be USD 170.4 billion, which was around 3.6% higher than the expenditure of 2014-2015.

The Middle East & Africa holds the least market share due to lack of technical knowledge and poor medical facilities.

Key Players

Some of the key players in the global fibromuscular dysplasia market are Alkermes Pharma Ireland Limited, ALVOGEN, Aspen Surgical Products, Inc., AstraZeneca, B. Braun Melsungen AG, Bayer Healthcare Pharmaceuticals Inc., Becton, Dickinson and Company, Bristol-Myers Squibb, Dainippon Sumitomo Pharma Co., Ltd, Ethicon, Inc., Merck, Novartis, Pfizer, Sanofi-Aventis, Smith & Nephew plc; Medtronic, Stryker Corporation, and Watson Pharma Private Limited.


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