Neurofibromatosis type 1 market is expected to gain market growth at a potential rate of 10.00% in the forecast period of 2021 to 2028. Increase in the FDA approval of drugs for the treatment of neurofibromatosis is the vital factor escalating the neurofibromatosis type 1 market growth.
Neurofibromatosis affects the nerve cells and can also grow onto becoming cancerous cells and tumours. It’s a genetic disorder and can transfer from one generation to another and it forms tumours on nerves. It basically happens due to genetic mutation and neurofibromatosis type is the most common of them all, it mainly targets the paediatric population and children below the age of 2 years.
Rise in the government awareness programs about the disease will uplift the market growth, also rise in the prevalence of the disease, rise in the healthcare affordability in the US and rise in the knowledge and awareness amongst the people are some of the crucial factors among others driving the neurofibromatosis type 1 market growth. Moreover, rise in the research and development activities and increase in the technological advancements and production techniques in the healthcare devices will further create new opportunities for the neurofibromatosis type 1 market in the forecast period of 2021-2028.
However, rise in the cost of research and development activities in the market acts as the major factors among others acting as restraints, and will further challenge the neurofibromatosis type 1 market in the forecast period mentioned above.
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Asia-Pacific currently accounts for the largest neurofibromatosis type 1 market share due to presence of major market players in the region and high prevalence of genetic disorders. North America is expected to witness a large market share over the coming years for the neurofibromatosis type 1 market due to advancements in healthcare system over the coming years.
The major players covered in the neurofibromatosis type 1 market report are Hutchison China MediTech Limited, Erasmus MC, GL Pharm Tech, and University of Alabama at Birmingham, Assistance publique, Indiana University and Texas Neurofibromatosis Foundation among other domestic and global players.
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