“Spinal Cord Trauma Treatment Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025” is the recent report of Persistence Market Research that throws light on the overall market scenario during the period of eight years, i.e. 2017-2025. According to this report, Global spinal cord trauma treatment market is expected to witness significant growth during the forecast period. This growth is expected to be primarily driven by increasing incidence of spinal cord trauma, and increasing government support to reduce the burden of spinal cord injuries. Additionally, development of nerve cells growth therapy is expected to boost the market in near future. The global market for spinal cord trauma treatment is is estimated to be valued at US$ 2,276.3 Mn in terms of value by the end of 2017. The global spinal cord trauma treatment market is expected to expand at a CAGR of 3.7% over the forecast period to reach a value of US$ 3,036.2 Mn by 2027 end.
Global Spinal Cord Trauma Treatment Market: Trends
- Medical tourism for post spinal surgery rehabilitation
- Research on neuroregeneration therapies
- Increasing use of mechanical spinal traction
- Focus towards improvement of quality of life by increasing the use of robot assisted rehabilitation
- Methylprednisolone as a standard corticosteroid therapy
- Public private partnership for better health infrastructure and work as a source to meet the funding gap
- Increasing cases of vehicle accidents
- Development of stem cell therapy
On the basis of end user, the global spinal cord trauma treatment market is segmented into hospitals and trauma centers. Hospitals 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. Hospitals and trauma centers segments are expected to approximately similar attractive index. Hospitals segment accounted for 53.2% value share in 2017 and is projected to account for 52.5% share by 2025 end.
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On the basis of injury type, the global spinal cord trauma treatment market is segmented into complete spinal cord injuries and partial spinal cord injuries. Partial spinal cord trauma treatment segment is expected to show better growth than the completed spinal cord treatment segment due to higher growth in the incidence rate of partial spinal cord trauma than the complete spinal cord trauma. With US$ 1,870.3 Mn market value in 2025, this segment is likely to expand at CAGR 3.8% throughout the projected period.
On the basis of treatment type, the global spinal cord trauma treatment market is segmented into corticosteroid, surgery, and spinal traction segments. 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 is the most attractive segment, with attractiveness index of 2.6 over the forecast period.
This market is segmented into five regions such as North America, Latin America, Europe, APAC and MEA. Asia-Pacific account for the largest market share in the global spinal cord trauma treatment market. Large patient population due to the high rate of road accidents and crime is making the Asia Pacific region most attractive market for spinal cord trauma treatment. On the other hand, MEA and Latin America is expected to be the least attractive market for spinal cord trauma treatment, with attractiveness index of 0.3 and 0.5 respectively over the forecast period.
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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., and Bioaxone Biosciences, Inc. are some of the key players in the global spinal cord trauma treatment market.
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