Global Spinal Cord Trauma Treatment Market: Overview
Persistence Market Research represents the historical global spinal cord trauma treatment market grown from 2012 to 2016 end. We have forecasted the global spinal cord trauma treatment market to grow from more than US$ 2,270 Mn in 2017 to more than US$ 3,000 Mn by 2025 end. This represents CAGR of 3.7% over the forecast period of 2017–2025. The global market for spinal cord trauma treatment represents absolute $ opportunity of close to US$ 90 Mn in 2018 over 2017 and incremental opportunity of close to US$ 760 Mn between 2017 and 2025.
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- Acorda Therapeutics, Inc.
- Asterias Biotherapeutics
- ReNetX Bio.
- BioArctic AB
- BioTime, Inc.
- InVivo Therapeutics
- Kringle Pharma, Inc.
- Novartis AG
- Pfizer Inc.
- Pharmicell Co. Ltd.
- Vertex Pharmaceuticals Inc.
- Bioaxone Biosciences, Inc.
With more than 85% revenue share, the surgery segment by treatment type likely to lead the global spinal cord trauma treatment market throughout the forecast period
Surgery segment dominated the global spinal cord trauma treatment market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Surgery segment market was valued more than US$ 1,900 Mn in 2016 and is projected to be valued more than US$ 2,600 Mn in 2025 growing at a CAGR of 3.6% during the forecast period. Corticosteroids segment is expected to be the second most lucrative segment in the global spinal cord trauma treatment market, with attractiveness index of 0.4 during the forecast period.
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Limited number of spinal cord trauma treatment centers hinders the growth of the market in MEA
Spinal cord trauma is generally treated in the emergency unit and specific trauma centers. But in the Middle East & Africa region only a limited number of these centers are available. Lack of availability of proper treatment facility is stalling the growth of the spinal cord trauma treatment market. Person who is suffered with the spinal cord trauma has higher chances of death in African region due to limited access to the emergency healthcare facility.
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High cost of surgical procedures to treat spinal cord injuries is a growth stalling factor in APAC
Spinal cord trauma is currently being treated with the surgical procedure but this procedure does not cure disorder but only prevent worsening of condition. Majority of the population in
Asia-Pacific region is not covered under healthcare insurance and patient themselves have to pay for the procedures. High cost of these procedure and low end result is expected to discourage the family of patients to opt for the surgical procedure which is acting as restraint factor in the market growth.
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Increasing research on alternative treatments to hamper revenue growth of the Europe surgery market
Currently used treatment modalities in Europe has limited therapeutic impact on improving patient condition with spinal cord trauma. So, in order to provide better treatment and improve condition of patients, investment on development of alternative treatment modalities is increasing.
Various companies are conducting research on treatment options such as, stem cell therapy and nerve regeneration therapy. Development of these therapies will reduce the use of less effective treatment methods that are being used.
Ineffectiveness of surgery in curing spinal cord injuries in Latin America
Usually, decompression therapy and surgery are used for the management of spinal cord trauma. But these procedure can not cure the condition. These procedures are used to prevent worsening of the spinal cord trauma condition.
But Latin America countries where financial condition is a major factor while deciding the treatment approach and if, a procedure can not completely cure the condition then people or family of patient might not select surgical procedure as a preferred choice of treatment. So, an ineffectiveness of spinal surgery in delivering the required cure is a factor that is restricting the growth of market.
Availability of alternative treatment options in North America
Corticosteroids, spinal traction followed by decompression surgical procedure are the most preferred choices for the treatment of spinal cord trauma. But these procedures cannot reverse the damage caused to the spinal cord. In order to leverage the presence of larger patient pool, various biopharmaceutical and medical devices companies are developing treatment options that can improve the sensory function and treat damaged nerves. These alternative treatment modalities are expected restrain the growth of spinal cord trauma treatment market.
Key segments covered in this report
By Treatment Type
By Injury Type
By End User