The global spinal cord injury treatment market size is calculated at USD 7.22 billion in 2024 and is expected to be worth around USD 11 billion by 2032, registering a CAGR of 4.8% between 2023 and 2032.

/EIN News/ -- Ottawa, Aug. 09, 2024 (GLOBE NEWSWIRE) -- The global spinal cord injury treatment market size is predicted to increase from USD 7.13 billion in 2023 to approximately USD 11 billion by 2032, according to a study published by Towards Healthcare a sister firm of Precedence Statistics.

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Key Takeaways that drive the market growth

• The spinal cord injury treatment market size growth is projected from USD 7.13 billion (2023) to USD 11.00 billion (2032).
• Anticipated CAGR at 4.8% between 2024 to 2032.
• The spinal cord injury treatment market grows at 4.8 CAGR (2024-2032).
• Demand for spinal cord treatment due to rise in aging population and accidents drives the market.
• North America perceives rise in the market due to presence of advanced technological options
• Aside from hospitals and trauma centres, ambulatory surgical centres are anticipating growth in upcoming years.
• Spinal cord’s complexity and risk of complications are unceasing challenge for the spinal cord injury treatment market.
  

The spinal cord injury treatment market revolves around stabilization, rehabilitation and pain management of the patient. Along with these factors, supporting the patients mentally and providing home care facilities to them are the leading objectives of the market. The awareness among the consumers has increased consciousness regarding road accidents and the consequence demands spendings on healthcare institutions.

Each injury requires different types of treatment and these leads to differentiation between cost expenditure which depends upon the type of end-user the consumer prefers, or it is compulsory necessity. The spinal cord injury treatment market offers it to them, and this increases the growth of the market.

Top companies that lead the spinal treatment market

• Acorda Therapeutics, Inc.
• Asterias Biotherapeutics
• ReNetX Bio.
• BioArctic AB
• BioTime, Inc.
• InVivo Therapeutics
• Kringle Pharma, Inc.
• Novartis AG
• Pfizer Inc.
• Pharmicell Co. Ltd.

Personalised Rehabilitation: An Upcoming Opportunity for the Industry

Cell-based therapy and availability of personalized rehabilitation is a magnum opus for the spinal cord injury treatment market. The research about initiation of cell-based therapy which provides specific treatment and promotion of drug-induced neural regeneration and repair has paved a path for the market. The growth in healthcare expenditure, rehabilitation centre and pharmaceutical market are the groundbreaking factors which presents multiple opportunities for the spinal cord injury treatment market.

All these factors target growing population and increase awareness in the consumers by marketing the years of experience they have gained in the market. Although the factors are minor, other factors which add value to the market also increase opportunities include affordable treatment choices, collaboration with NGOs and government. The leading companies in the market leverage all the opportunities consequently rising the spinal cord injury treatment market.

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Expansion of Rehabilitation Centers to Boost the Market’s Growth

Spinal cord injury interconnects many factors together which are rehabilitation centres, research and development market and healthcare market and all these factors provide facilities and products which are to be covered under medical insurances and should be granted government fundings as well. All these factors drive the spinal cord injury treatment market which fulfils all the features mentioned by the market costumers.

Public awareness is also another driving factor for the marketing of treatments and other rehabilitation services available in the market. Here, public awareness is the result of insurances and policies granted by the healthcare institutions which heightens the consumption of the treatment.

Expensive Therapies and Government Policies to Challenge the Market’s Growth

The focus of treatments is on the recovery of the patient and arousing symptoms rather than reversing the damage and this leads to no definitive treatment. An additional factor, healthcare expenditure, which can extend as long as the patient requires treatment. Although, expensive therapies are covered by medical insurances, consumers are burdened emotionally and mentally.

Apart from this, complex nature of spinal cord injuries can create various complication which can complicate the treatment. Location barriers and infrastructure providence can affect the profit margin of spinal cord injury treatment market. Time-consuming strict government regulations and challenges faced during clinical trials can maximize the cost and imply strict treatment policies.

AI Integration, an Ever-Evolving Solution for the Industry

AI has improved the market by developing image analysis which can identify type of injury and suggest recovery outcomes. It can create a prototype monitoring system to keep track of pain levels. The prototype will consider all the possible outcomes of the spinal cord injury and based on it will create a virtual rehabilitation experience for the market to use for guiding the patients throughout the treatment. Apart from this, AI can analyse the supply chain and predict the outcomes of leading consumers and leading regions as well.

Defect can be recognized easily with the defect detection system, along with signs of spinal cord injury so that early intervention is possible. Major factor like the personalised plans after discharge and discovery of new drugs by identifying its cure potential can be analysed with the help of AI technology. Mental support and assurance of data privacy and security which can be possible with AI innovation is an additional factor.

North America’s Established Healthcare Infrastructure to Support the Market

North America is the leading region in the spinal cord injury treatment market. The market in this region is driven by strong healthcare system, extensive research and a large patient population. Canada has a patient-centred healthcare system which contributes to the growth of the market.

In April 2024, Lineage Cell Therapeutics, a clinical-staged biotechnology company, which develops allogeneic cell therapies for unmet medical needs has received grant from California Institute for Regenerative Medicine to support the 2^nd Annual Spinal Cord Injury Investor Symposium which was held in June 2024.

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Asia Pacific’s Potential: China and India to Grow Robustly

Asia-Pacific is regarded as the region with high growth potential. The high income and initiatives undertaken by the government are the driving factors of the market. The demand for cost-effective treatment and focus on rehabilitation is the goal of the region. Countries like China, India and Japan are the leading contributors in spinal cord injury treatment market.

In May 2024, ELYRIA Invacare corporation had announced the introduction of its new product, Birdie^TM Evo XPLUS, a patient lift solution, which can transfer a patient to and from bed, chair and floor. The company also stated the purpose of lift, which is to prevent risk of high injury and to provide steady control for the caregiver

Indian Government's Support to the Industry

• In September 2023, the Indian Spine Injuries Centre launched a program for spinal cord injured patients, supported by Union Government which was extended to states under the Scheme for Implementation of the Rights of Persons with Disabilities Act, 2016. The Government had also announced an allocation of Rs. 844 crores from 2021 to 2025 for infrastructure development and empowerment of Persons with Disabilities (PwD).
• In January 2022, surgeons at Keio University carried out first spinal cord stem cell trial into a patient with spinal cord damage, also looked into induced pluripotent stem cells which are created by stimulating mature specialised cells back into juvenile state. The University also stated that it had monitored the patient for 3 months to determine the results of the research.

Segmental insights

By injury

Complete spinal cord injuries dominate the market. It is the dominating segment due to total loss of sensory and motor function below the level of injury. The treatment for this segment is in demand which includes the evaluation of spinal cord injuries, then stabilization of fractured bones and releasing the pressure from the diagnosed area.

The next in line is partial spinal cord injury which occurs due to impairment in sensory or motor function below the level of injury. The treatment for this segment includes surgery wherein the fluid or tissue which presses on the spinal cord is removed with remaining bone fragments, disk fragments. Then spinal braces or traction is placed.

By treatment

Corticosteroid treatment dominates the spinal cord treatment market. The treatment includes drugs which reduces inflammation and helps the body to attack the autoimmune diseases. The demand for the treatment heightens due to its other uses for skin conditions and respiratory conditions.

The surgery treatment includes use of manual and instrumental techniques which treats pathological conditions, alter bodily functions and remove unwanted tissues. In spinal cord treatment, open surgery and robotic surgery are given preferences. After both the treatments, personalised care is necessary for the patient.

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Spinal Cord Injury Treatment Market TOC | Table of Content

Introduction

• Research Objective
• Scope of the Study
• Definition and Taxonomy
  

Research Methodology

• Research Approach
• Data Sources
• Assumptions
  

Executive Summary

• Synopsis
• Analyst Recommendations

Market Overview 

• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Value Chain Analysis
  • Raw Material Sourcing
  • Manufacturing Process
  • Logistics & Transportation
  • Buyer Preferences
• Trends
  • Market Trends
  • Technological Trends
• Porter’s Five Forces Analysis
  • Bargaining Power of Suppliers
  • Bargaining Power of Buyers
  • Threat of Substitute
  • Threat of New Entrants
  • Degree of Competition
• PESTLE Analysis for 5 Leading Countries
  
  • Regulatory Framework for Leading Countries/Regions
  • Supply Demand Analysis
  • Production & Consumption Statistics
  • Export Import Statistics
  • Price Trend Analysis

Global Spinal Cord Injury Treatment Market Assessment

• Overview
• Global Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• Global Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• Global Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others
• Global Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Geography (2021 – 2033)
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

North America Spinal Cord Injury Treatment Market Assessment

• Overview
• North America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• North America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• North America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others

Europe Spinal Cord Injury Treatment Market Assessment

• Overview
• Europe Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• Europe Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• Europe Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others

Asia Pacific Spinal Cord Injury Treatment Market Assessment

• Overview
• Asia Pacific Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• Asia Pacific Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• Asia Pacific Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others

Middle East and Africa Spinal Cord Injury Treatment Market Assessment

• Overview
• Middle East and Africa Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• Middle East and Africa Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• Middle East and Africa Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others

South America Spinal Cord Injury Treatment Market Assessment

• Overview
• South America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Injury Type (2021 – 2033)
  • Complete Spinal Cord Injuries
  • Partial Spinal Cord Injuries
• South America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by Treatment (2021 – 2033)
  • Corticosteroid
  • Surgery
  • Spinal Traction
  • Others
• South America Spinal Cord Injury Treatment Market Size Value (US$) and Volume (Billion Tons), by End User (2021 – 2033)
  • Hospital
  • Trauma Centers
  • Ambulatory Surgical Centers
  • Others

Company Profiles

• Acorda Therapeutics, Inc.
  • Company Overview
  • Geographic Footprints
  • Financial Performance
  • Product Portfolio
  • SWOT Analysis
  • R&D Efforts
  • Recent Developments & Strategic Collaborations
    • Product Launch/M&A/Technical Collaboration
• Asterias Biotherapeutics
• ReNetX Bio.
• BioArctic AB
• BioTime, Inc.
• InVivo Therapeutics
• Kringle Pharma, Inc.
• Novartis AG
• Pfizer Inc.
• Pharmicell Co. Ltd.

Conclusion & Recommendations

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