PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454116
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454116
Facial Palsy Market size was valued at USD 3,221 Million in 2023, expanding at a CAGR of 4.5% from 2024 to 2032.
Facial palsy is a broad term for paralysis of the face muscles, primarily due to acute or chronic injury to the face nerve. The facial muscles cannot contract correctly if a facial nerve is absent or non-functioning. This is because the muscles need to receive impulses in order to contract. This causes the afflicted facial area to become paralyzed, which can impair mobility in other regions of the face as well as the affected eye or mouth.
Facial Palsy Market- Market Dynamics
Growing prevalence of facial paralysis to propel market demand
The growing prevalence of facial paralysis is expected to propel the market growth during the forecast period. For instance, Bell's palsy is the most prevalent cause of facial paralysis, according to the National Institute of Neurological Disorders and Stroke. An estimated 40,000 Americans are thought to suffer from facial paralysis brought on by Bell's palsy. Stroke-related facial paralysis damages the nerves that govern the face muscles. Stoke results in bleeding and damages brain tissue by depriving it of oxygen. Additional causes of facial paralysis include Melkersson-Rosenthal syndrome, Guillain-Barre syndrome, Mobius syndrome, Lyme illness, and Ramsay-Hunt syndrome. People with Bell's palsy are more likely to be between the ages of 15 and 60.
Facial Palsy Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2024-2032)
Based on diagnosis segmentation, the MRI segment is expected to capture a significant market share during the forecast period
Based on the treatment segmentation, the non-surgical segment held the largest market share in 2023
Based on end-use segmentation, the hospitals segment is expected to lead the market over the projected period
Based on region, North America was the leading revenue generator in 2023
The Global Facial Palsy Market is segmented based on Diagnosis, Treatment, End-use, and Region.
Based on the diagnosis, the market is categorized into MRI, CT and Electromyograph (EMG). The MRI segment is expected to capture a significant market share during the forecast period. When facial palsy is accompanied by other neurological symptoms, such as headaches, dizziness, or changes in vision or hearing, MRI can help identify any underlying conditions affecting the nervous system.
Based on the treatment, the market is divided into Surgical and Non-Surgical. The non-surgical held the largest market share in 2023 and is expected to continue the same pattern during the forecast period. Physical therapy plays a crucial role in the management of facial palsy by focusing on exercises and techniques to strengthen facial muscles, improve coordination, and restore range of motion. Therapeutic modalities such as facial exercises, massage, electrical stimulation, and biofeedback are commonly employed to facilitate recovery. Thereby, driving the segment growth.
Based on the end-use, the industry is divided into Hospitals and Specialty Centers. The hospitals segment is expected to lead the market over the projected period owing to large pool of patients and the presence of advanced technologies.
Facial Palsy Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to lead the Facial Palsy market during the forecast period. Well-established healthcare facilities, including specialist clinics and rehabilitation programs that aid in the management of facial palsy, may be found across North America, but especially in the United States and Canada. Due to factors including growing healthcare expenses, growing awareness of rare diseases, and developing healthcare infrastructure, the market is anticipated to grow considerably in Asia Pacific. Research institutes, pharmaceutical businesses, and healthcare organizations working together might result in the creation of novel facial palsy therapies in the area.
The key players operating in the market are Boston Scientific Corporation, Novartis AG, Cyberonics, Inc., Astellas Pharma Inc., Mallinckrodt, Cerebomed, BioControl Medical and Sucampo Pharmaceuticals. To obtain access to new markets, market players are continuously pursuing a variety of strategic initiatives, including the creation of new products, funding and investments, mergers and acquisitions, and other strategic partnerships.
In July 2023, a state-of-the-art Facial Palsy Care Center including cutting-edge technology and a skilled group of exceptionally skilled surgeons was opened by Sakra World Hospital. By combining cutting-edge technology with a skilled multidisciplinary team of surgeons and other healthcare professionals, the center sought to transform treatment models, improve overall therapeutic results, and significantly improve the quality of life for those with facial palsy.
GLOBAL FACIAL PALSY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Boston Scientific Corporation
Novartis AG
Cyberonics, Inc.
Astellas Pharma Inc.
Mallinckrodt
Cerebomed
BioControl Medical
Sucampo Pharmaceuticals