Market Highlights
Transverse myelitis is a neurological disorder caused due to the inflammation across both sides of one segment of the spinal cord. This disorder can occur in any age and sex, but female patients are at higher risk of having transverse myelitis. The causes of transverse myelitis include infections, immune system disorders, and other disorders that may damage or destroy myelin, the fatty white insulating substance covering the nerve cell fibers. The increasing prevalence of transverse myelitis (TM), growing prevalence of diseases which can lead to transverse myelitis such as viral infections and some types of cancers, rising in research and development activities, and increasing expenditure on healthcare sector by the government in developed as well as developing countries is anticipated to propel the global transverse myelitis market. According to the National Institute of Neurological Disorders and Stroke, it is estimated that about 1,400 new cases of transverse myelitis (TM) are diagnosed each year in the US.
However, high cost associated with the diagnosis and treatment of transverse myelitis can hamper the growth of the market over the assessment period.
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Regional Analysis
The market in the Americas is expected to dominate the global transverse myelitis market during the forecast period owing to the presence of a well-established healthcare system, increasing healthcare expenditure, and the growing prevalence of transverse myelitis.
The European market is expected to be the second-largest due to government funding and support of the healthcare sector coupled with the rising prevalence of transverse myelitis. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to a rising number of rare diseases and continuously developing healthcare infrastructure. Additionally, increased funding in the research activities by pharmaceutical & biotechnology companies is also fueling the growth in the Asia-Pacific region. The market in the Middle East & Africa is likely to account for the smallest share of the global cell transverse myelitis market.
