Hemangioma Market Overview

Hemangioma is a benign tumor which generally occurs at birth due to an abnormal collection of blood vessels. The phenomenon is very common in infants across the globe, and lately, a high number of hemangioma cases have been diagnosed. Market Research Future (MRFR), has a new addition to its portfolio of reports, the global hemangioma market. The report covers the key dynamics that are likely to affect the market over the forecast period of 2022-2030. MRFR has asserted that The Hemangioma Market is projected to reach USD 725.4 Million by 2030 at 4.3% CAGR during the forecast period 2022-2030

The global Hemangioma Market is driven by increasing prevalence of the disease. The disease impacts internal organs such as the liver, brain, respiratory organs, and parts of the gastrointestinal system. A number of options are available in the market for the treatment of the disease, and new extensive efforts are underway to come up with more effective treatment methods. Rising healthcare expenditure across the globe, increased RD efforts, surging diagnosis and awareness rate, and improving reimbursement landscape is fueling the market growth. Contrarily, the growth of the market might be hindered by the high procedural cost of treatments, poor efficacy rates, and side effects aligned with treatment options.

Growth in the number of cases getting registered each day across the world and the advent of better treatment opportunities are things that can influence a strong growth rate in the coming years. The market is also expected to create significant progress with increasing inclusion of treatments and using drug therapies. Such wide-scale use of the latest technologies can make sure that the market gains proper growth.

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Hemangioma Market Segmentation

The global market report covering the hemangioma can be segmented by type, diagnosis, and treatment. Such an in-depth analysis would provide ample growth opportunities for the market.

By type, the hemangioma market report would include cavernous hemangioma, capillary hemangioma, Lobular capillary hemangioma (pyogenic granuloma), compound hemangioma, and others. The cavernous hemangioma segment can be segmented into liver cavernous hemangioma, cerebral cavernous malformations, and eye cavernous hemangioma.

By diagnosis, the market report on the hemangioma market analysis can be segmented into a CT scan, MRI, ultrasound, and others.

By treatment, the hemangioma market can be segmented into surgery, laser therapy, medical therapy, and others. The medical therapy segment can be segmented into intralesional, systemic, and topical. The laser therapy segment can be segmented into an intralesional laser, Flash lamp pulsed dye laser, and carbon dioxide laser.

Hemangioma Market Regional Analysis

Region-wise, the hemangioma market has been segmented into North America, the Middle East Africa (MEA), Europe, and Asia Pacific (APAC).

North America accounts for the largest share of the global market. The region is concentrated with key market players who are actively involved in the development of effective drugs and therapies for the diseases. The prevalence of the disease is considerably high in the region, which generates substantial demand for treatment and diagnosis. Other factors propelling the growth of the market include high healthcare expenditure, robust healthcare infrastructure, and availability of advanced treatment and products. The US is a key contributor to the North America market.

Europe has secured the second spot in the global hemangioma market. Heightened RD activities coupled with government support for the same, is driving the growth of the market.

The APAC hemangioma market is slated to exhibit remarkable growth over the forecast period and expand at a relatively higher CAHR over the forecast period. Expanding healthcare sector, escalating healthcare expenditure, and growing awareness and availability of advanced treatment options is spurring the growth of the market.

The MEA market, on the other hand, is expected to exhibit sluggish growth over the forecast on account of lack of awareness regarding the disease and lack of adequate medical facilities in the region.

Competitive Landscape

AstraZeneca (UK), Novartis AG (Switzerland), Pierre Fabre (US), Cutting Edge Laser Technologies (US), Pfizer Inc. (US), krimax Pharmaceuticals, LLC. (US), Linline Medical Systems (France), Quanta System S.p.A. (Italy), and others are the key players in the global hemangioma market.

Industry Updates

December 2018 - the American Academy of Pediatrics (AAP) has laid down a new set of guidelines for the management of infantile hemangioma (IH), which was published online. The new guidelines recommend patients with high risk for complications for a referral to a specialist by age four weeks for further treatment and evaluation.

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