Xanthoma Market key drivers, business insights, trends and forecast during 2017-2023

According to Market Research Future, the U.S. dominates the global market, which is followed by Europe owing to higher per capita income and market penetration. Additionally, the faster uptake of new surgical procedures and the high technological development of surgical equipment and devices is expected to boost the growth of the market in this region.

The U.S. spent 16% of the total GDP on public healthcare expenditure in 2015, which boosted the growth of the market. Moreover, the concentration of large hospitals combined with rapidly growing healthcare penetration in the U.S. is one of the major drivers of the market. The better reimbursement rates of the U.S. also offers better business climate to the market.

The global market is comparatively fragmented with a large number of players. Furthermore, the US has one of the highest per capita incomes in the world and a high consumption of healthcare products, which strengthens the demand for the xanthoma. The development of surgical devices industry is projected to drive the future U.S. market. The U.S. also has large research and development ecology and a rising number of startups are targeting the minimally invasive surgical devices for xanthoma market.

The fast development of the global supply chains with a cheap supply of surgical instruments and drugs from China and other nations are expected to result in low-cost manufacturing and may favor the development of the market. However, the U.S. market is expected to face strong competition from the low prized Chinese manufacturers, which is a threat to the future of the market.

However, the high cost of services in the U.S. is a drag on the market with the cost of xanthoma an estimated 45% higher in the U.S. than in Asia Pacific region nations. The high fees of surgeons in the U.S. as compared to the other nations and the scarcity of trained professionals are a major threat to the market.

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The global Xanthoma market is expected to grow at a CAGR of ~ 6.0 % during the forecast period 2017-2023.

Some of the major players present in the market are AstraZeneca PLC, GlaxoSmithKline PLC, Johnson & Johnson, Bayer HealthCare Pharmaceuticals LLC, Pfizer, Inc., Novartis International AG, Teva pharmaceutical industries, Novo Nordisk, Sanofi, and others.

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