How Will the Acute Spinal Cord Injury Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How has the acute spinal cord injury market grown over the years?
In the past few years, there has been a robust growth in the market size of acute spinal cord injury. This market is projected to upscale from $6.7 billion in 2024 to $7.08 billion in 2025, marking a compound annual growth rate (CAGR) of 5.6%. The growth observed in the past can be attributed to several factors such as an increase in the number of acute spinal cord injury cases, heightened awareness about these injuries and their available treatment options, a growing demand for personalized care, rise in disposable incomes, along with increased government expenditure on research and development in the field of acute spinal cord injury.
What Is the forecasted market size and growth rate for the acute spinal cord injury market?
A significant increase in the market size of acute spinal cord injury is anticipated in the imminent years. The size is projected to touch $8.77 billion by the year 2029, with a compound annual growth rate (CAGR) of 5.5%. Aspects contributing to this growth during the said period include the emergence of new treatment methods, adoption of telemedicine, patient-focused care models, and a heightened emphasis on preventive healthcare and injury avoidance. Noteworthy advancements on the horizon are expected to involve medical technology, practices for rehabilitation, treatments for neuroprotection, psychosocial assistance, and advocating for broadened accessibility.
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What are the major factors driving growth in the acute spinal cord injury market?
The surge in road accidents is anticipated to stimulate the acute spinal cord injury market’s growth. A road accident encompasses an event where a motor vehicle collides, causing injury or even deadly harm. Accidental spinal injuries may damage the central nervous system (CNS) and obstruct the flow of nerves essential for functional and sensory skills. The severity of an accident can lead to cervical, lumbar, or thoracic spine injuries, damaging the spinal cord and resulting in paralysis. For example, as per the Llywodraeth Cymru / Welsh Government, a governmental body based in Wales, police in Wales reported 4,348 road casualties in 2023, a 2% rise from 2022. Hence, the growing number of road accidents is fueling the expansion of the acute spinal cord injury market. The growth of the acute spinal cord injury market is also anticipated to be fueled by the rise in clinical trials. Clinical trials are instrumental in furthering the knowledge and treatment of Acute Spinal Cord Injury (SCI). These trials involve comprehensive investigative studies of new therapeutic approaches or interventions, their safety, and efficacy in patients with SCI. For instance, Xtalks, a Canadian digital healthcare company, reported in May 2023 that ClinicalTrials.gov reported 452,604 clinical studies have been registered worldwide as of May 17, 2023. 64,838 studies out of the total registered are actively looking for participants. This is a significant increase from roughly 365,000 registered trials documented in early 2021. Hence, the growing number of clinical trials is contributing to the expansion of the acute spinal cord injury market.
What key areas define the segmentation of the global acute spinal cord injury Market?
The acute spinal cord injury market covered in this report is segmented –
1) By Type: Complete Spinal Cord Injury, Incomplete Spinal Cord Injury
2) By Diagnosis Type: Laboratory Tests, Imaging Tests
3) By Application: Hospitals, Clinics
Subsegments:
1) By Complete Spinal Cord Injury: Tetraplegia, Paraplegia
2) By Incomplete Spinal Cord Injury: Central Cord Syndrome, Anterior Cord Syndrome, Brown-Séquard Syndrome, Conus Medullaris Syndrome, Cauda Equina Syndrome
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What are the top market players propelling the growth of the acute spinal cord injury industry?
Major companies operating in the acute spinal cord injury market are Pfizer Inc., AbbVie Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Biogen Inc., Vertex Pharmaceuticals Inc., Mitsubishi Tanabe Pharma Corporation, Stanford Health Care, BioMarin Pharmaceutical Inc., Neuralstem Inc., Kennedy Krieger Institute, Acorda Therapeutics Inc., Craig Hospital, Omeros Corporation, Lineage Cell Therapeutics Inc., Pharmazz Inc., Asterias Biotherapeutics Inc., Histocell S.L., Athersys Inc., ReNetX Bio, Kringle Pharma Inc., BioArctic AB, BioAxone BioSciences Inc., InVivo Therapeutics Holdings Corp, Geron Corporation, Neuronax SA, Tenax Therapeutics, Eusol Biotech Co. Ltd.
What are the key trends shaping the future of the acute spinal cord injury market?
Prominent firms in the acute spinal cord injury market are concentrating their efforts on the development of innovative medications to serve their clientele and maintain their market standing. The creation of novel medicines like LYVISPAH has the potential to enhance the outcomes of patients utilizing combined therapy. For example, in July 2022, Amneal Pharmaceuticals, a pharmaceutical corporation based in the United States, introduced LYVISPAH, an oral granular derivative of baclofen (available in 5,10, and 20 mg) that has received approval from the U.S. Food and Drug Administration (FDA). This drug is used for treating spasticity related to multiple sclerosis and various spinal cord ailments. LYVISPAH treats and mitigates flexor spasms, clones, and muscular stiffness. With single-dose packets of granules in dosages of 5 mg, 10 mg, and 20 mg, it facilitates adjustable, personalized dosage and is bioequivalent to oral baclofen tablets. Consequently, LYVISPAH can highly benefit patients with spinal cord injuries and other spinal cord maladies.
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What regions are dominating the acute spinal cord injury market growth?
North America was the largest region in the acute spinal cord injury market in 2024. The regions covered in acute spinal cord injury market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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