The global hereditary angioderma market is expected to witness the emergence of new market players over the coming years. The competitive landscape of the global market is currently oligopolistic in nature due to the presence of a few established players. However, as several entities engage in core research and development of therapies for angioderma, the market is expected to change its course over the coming years. It is anticipated that the existing players will go all out with their marketing strategies in order to retain their dominance and avert the entry of new players.
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Since the market for hereditary angioderma is closely related to the medical and pharmaceutical industries, the market players are expected to collaborate with distributors, pharmacies, and other healthcare bodies. Mergers and acquisitions are foreseen as a key strategy of the existing market players while new entrants are projected to form strategic alliances amongst themselves to sustain in the market. As the market players introduce a motley of business strategies, the competition in the market is bound to increase over the forthcoming years. Some of the key players in the global market for hereditary angioderma are Shire plc, Pharming Group NV, CSL Limited, iBio Inc., Ionis Pharmaceuticals, Inc., and BioCryst Pharmaceuticals, Inc. The efforts of these market players to attain global reckon are reflected in their share of the total market share.
The global market for hereditary angioderma is expected to expand at a robust CAGR of 9.10% during the period between 2017 and 2025, estimates Transparency Market Research (TMR). Furthermore, the global market was valued at US$ 1.73 bn in 2016 and is expected to accumulate revenues worth US$3.81 bn by 2025.
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Although angioderma is a rare medical condition, affecting 1 in 50000 people across the world, the repercussions of the disease are abysmal. Due to this reason, the medical industry has been making concerted efforts to ensure that angioderma is diagnosed and treated at the earliest. Angioderma is often disguised as abdominal pain or common allergies, which later leads to dire consequences. Owing to this reason, people have become increasingly aware of the disease and resort to immediate treatment in case of any doubts.
This has also fortified the growth scale of the global market for hereditary angioderma. Some of the triggers that increase the severity of angioderma are anxiety, minor surgeries, stress, and ACE inhibitors. The healthcare sector has been making ardent efforts to effectuate better treatments for hereditary angioderma. On the other hand, the specialized hereditary angioderma drugs are either too expensive or unavailable across distribution channels. This is expected to hamper the growth of the global market for hereditary angioderma.
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The support extended by the government in the form of favorable medical reimbursement policies has put North America at the top of the table of market share. Furthermore, the expertise of the medical practitioners in the region helps in early diagnosis of angioderma, and this further enhances the growth prospects of the regional market.
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