Spinal Cord Injury Treatment Market Size & Trends

Get More Information on Spinal Cord Injury Treatment Market - Request Sample Report

The Spinal Cord Injury Treatment Market Size was valued at USD 7.31 billion in 2023 and is expected to reach USD 11.28 billion by 2032 and grow at a CAGR of 4.98% from 2024-2032.

The spinal cord injury treatment market is growing, owing to numerous incidence rates, technological developments, and the mainstreaming of advanced treatment options. According to the World Health Organization, in the entire world, around 250,000 to 500,000 people sustain spinal cord injuries every year. The reasons include motor vehicle accidents, falls, and sports injuries. Therefore, the healthcare solutions for SCI expand their presence due to the growing number of victims worldwide, particularly among elderly and high-risk groups who suffer spinal cord injuries. The drivers of the unprecedented growth of the treatment options for the discussed medical condition include neurostimulation devices, regenerative therapies, and stem cell treatments. Their effects can increase the chances of mobility and either reduce or eliminate SCP-related complications.

It has been also reported that the governmental backing of SCI research leads to the increased growth rates of the market, particularly in Western countries. For instance, “the U.S. government and several foundations including the Christopher & Dana Reeve Foundation are investing heavily in research, and thus, an increase in the innovation rate can be expected”. Additionally, the relevant reimbursement policies might be implemented in 2025. Modern developments and new applications of robotic exoskeletons boost patient outcomes and open new opportunities for safe and effective treatments.

Simultaneously, a significant share of the market expansion can be explained by the growing hospital admission rates related to spinal cord injuries and the widespread technological development of rehab centers across the globe. However, the high treatment costs and the absence of efficient solutions in developing regions present significant growth constraints. The development of affordable applications, by contrast, can enhance the chance of guaranteed and beneficial outcomes for patients.

Spinal Cord Injury Treatment Market Dynamics

Drivers

• Increased awareness among patients and healthcare providers is driving the adoption of innovative treatment solutions.

• Innovations in stem cell therapy, gene therapy, and neurostimulation are enhancing treatment outcomes.

The prevalence and occurrence of spinal cord injuries create ample opportunities for innovations in medicine. Various technologies such as stem cell therapy, gene therapy, and neurostimulation can revolutionize the treatment of these injuries. Recently developed stem cell therapy has been reported to repair damaged tissues and even allows for previously paralyzed nerves to function again. Meanwhile, gene therapy aims to replace defective or altered genes with healthy copies, thus initiating the process of repairing nerve cells and activating nerves to show regrowth. Lastly, numerous neurostimulation therapies, such as deep brain stimulators or spinal cord stimulators have been made available. Each of these therapies involves the implantation of a device, which delivers electrical impulses that stimulate nerves and improve one’s ability to move muscles. As a result, motor functions are substantially improved, and any pain experienced is sufficiently controlled. All of these innovations are paving the way for new treatments in the spinal cord injury market. The availability of innovative treatments for SCI is expanding the market significantly as patients are increasingly interested in using the latest technologies.

It is evident that a significant increase in awareness among both patients and healthcare providers is contributing to the popularity of innovative treatments. Just like change.net petitions, which empowered many unheard citizens and provided them with a powerful tool to fight back, educational programs have also been created. Patients and healthcare providers have access to an increased amount of information on the newest technologies and advanced medical treatments. This would not have been possible without the numerous conferences, outreach programs, educational efforts, and patient groups, that provide information about such technologies as stem cell therapy, gene therapy, or neurostimulation. Naturally, awareness among patients leads to significantly increased demand for these treatments. At the same time, the fact that healthcare providers are aware of the most advanced treatment options means that they strive to offer them themselves. As a result, the market expands rapidly as more and more people opt for these treatment alternatives. The wide adoption of these advanced technologies drives the development of new therapies, thus causing the corresponding market to expand in an upward spiral relationship.

Restraints

• Variability in treatment protocols and standards can affect the consistency and effectiveness of care.

• Some advanced therapies require highly specialized medical knowledge and facilities, which can be a barrier to widespread implementation.

• Advanced treatments may not be widely available, especially in developing regions.

In developing regions, advanced treatments of neurological spinal cord injuries are not available. New solutions, including advanced types of stem-cell therapy, updating of gene cells, and application of neurostimulation, require significant knowledge of sophisticated technologies, as well as high-quality equipment, materials, and highly qualified specialists who are involved in the implementation of innovative approaches. In less-equipped regions such as developing and third-world countries, there is no financial and infrastructural possibility to realize these technologies, which requires considerable funding, continuous monitoring, and modern treatment facilities and clinical base. In many developing regions, even basic healthcare is not well-supported to secure advanced therapy against severe spinal cord injuries. Patients do not have access to funding for expensive treatment and live in poor regions where medical care is provided at a minimum level with the lack of effective tools in the treatment of severe spinal cord injuries. These modern solutions are in the process of clinical testing and only advanced and developed countries can afford these advanced treatment means and methods. All the most effective and latest instruments and measures of treatment are widely available only in advanced, economically developed countries, thus, in developing regions, its application and realization are only a matter of the future. Advanced types of neurological spinal cord injuries require qualification, financial support, and the provision of proper technologies that only developed countries are currently able to provide. Leading and fast-developing countries should spread the ability of advanced therapy to all other states to make neuroscience medicine more accessible.

Spinal Cord Injury Treatment Market Segmentation Overview

By Treatment Type

In 2023, the surgery segment dominated the market and represented over 41% of the market share. However, corticosteroids are expected to gain considerable traction in the coming years. After the first tissue damage caused by spinal cord injury, the inflammatory response that is driven through tissue ischemia, oxidative stress alterations, and immune reactions is manageable. Steroids like methylprednisolone are employed for this purpose as they can alleviate oxidative stress and address primary degenerative excitements after trauma. Cochrane suggests that globally, 40 million people suffer from spinal cord injury each year. A range of drugs is used for reducing the extent of permanent paralysis, and all of the seven researched trials suggest that methylprednisolone is the only steroid that is effective.

By Injury

In 2023, the complete spinal cord injuries segment dominated the market and represented over 56% of the market share. The increasing incidence of road accidents, gunshot wounds, and sports injuries from the past years positions this sub-segment as a market leader. However, partial spinal cord injuries are anticipated to register colossal growth soon. The partial spinal cord injuries where some nerve function is still below the site of injury are gaining significance in the treatment market. The huge demand for personalized therapies that fully reintegrate patients and developments in neurostimulation and regenerative medicine are the main growth-driving aspects of the market. The increased application of personalized treatment approaches and improved diagnostic solutions will increase the chances of recovery, and expand the spinal cord injuries market space. Partial spinal cord injuries will expand at the fastest CAGR and capture the broadest market space throughout the forecast period. Increased patient demand and improved certainty in the treatment field continuities will drive rapid expansions.

By End- User

In 2023, the trauma centers segment dominated the market and accounted for 49% of the market share. The segment’s significant growth is probably because hospitals are the places where trauma patients can always receive emergency treatments. It is not surprising that, during the forecast timeframe, this segment of the market also showed a high market share and growth rate in treating spinal cord trauma. This market is also among the most quickly growing ones retained by hospitals defensibly. The primary enablers of this growth include an increase in the number of cases of spinal cord injury and the surgical technology progress that allows patients to benefit from advanced care.

Another central factor facilitating the growth of this market is a wide array of specialized services to treat and rehabilitate this specific category of patients. It is also critical that, in recent years, the funding and investments within the sphere of health care have been continuously increasing. As a result, the infrastructure capacity of hospitals has noticeably increased over time. This has a central beneficial effect because this growth has created new opportunities for hospitals to invest in advanced technology that can ensure effective treatments and corresponding improved outcomes for the patients.

By Distribution Channel

The Hospital Pharmacy segment held the largest market share with 47% in 2023. The spinal cord injury treatment market is growing due to its essential role in managing medication for SCI patients. Growth factors include Increasing demand and use of advanced pharmaceuticals, such as corticosteroids and other pain management drugs. They are key for the care of patients with post-injury. Besides, the growing incidence of spinal cord injuries and the need for specific and targeted drugs are precipitating demand in this segment. Additionally, Advancements in the drug delivery systems and in-hospital pharmacy services are some of the other factors that are increasing the efficacy of care provided.

The Retail Pharmacy segment in the market is growing because a large number of patients are seeking medications and support services outside the hospital. The demand for prescription drugs, such as pain relievers, and anti-inflammatory medications is increasing; these drugs are a must to manage the case of spinal cord injury. Moreover, the growing trend of outpatient care and home treatment is benefitting retail pharmacies. The demand for retail pharmacy services is increasing as awareness about Personalized Medicine grows and as patients are getting more educated on the nature of treatments for a Spinal Cord Injury

Spinal Cord Injury Treatment Market Regional Analysis

North America recorded the largest market share of around 39% in 2023. The North American market dominates the regional growth of the spinal cord trauma market, owing to its advanced treatment options and supports. Corticosteroids and spinal traction have had significant adoption in this region, due to the increasing incidences of patients with spinal cord injury (SCI). Furthermore, the patients travel from the world over to the U.S., boosting the annual growth of the regional market. Approximately, the National Institute of Neurological Disorders and Stroke, to which the United States belongs, reports about 12,000 incidences of spinal cord injuries annually. It also has over a quarter million population of U.S. citizens affected by SCI. The costs for managing the SCI care amount to approximately US$ 3 billion per year. Moreover, the U.S. is the leading country with the most developed technology in diagnosis as well as rehabilitation centers. As such, the diagnosis of these injuries has majorly contributed to the treatment of strangers from the world over, since the centers offer specialized treatment of spinal cord trauma.

The Asia-Pacific regional market will lead in the annual growth rate of the global spinal cord injury treatment market during the forecast period. This is primarily driven by the rising number of spinal cord injury cases.

Need any customization research on Spinal Cord Injury Treatment Market - Enquiry Now

Key Players

The major key players are

• Medtronic - (SynchroMed II Infusion System, RestoreSensor Neurostimulator)

• Johnson & Johnson - (DePuy Synthes Spine, INHANCE Shoulder System)

• Abbott Laboratories - (Proclaim XR Neurostimulator System, BurstDR Stimulation Therapy)

• Pfizer -(Pregabalin for Neuropathic Pain, NeuroRehabilitation Support Programs)

• Eli Lilly - (Cymbalta for Pain Management, Trulicity Diabetes Support)

• Boston Scientific - (Spectra WaveWriter SCS System, Precision Plus SCS System)

• Stryker - (Spinal Cord Stimulators, Neurovascular Stents)

• Zimmer Biomet- (Mobi-C Cervical Disc, Comprehensive Spine System)

• Baxter International - (Tisseel Fibrin Sealant, Infusor Pain Management Pump)

• Astellas Pharma - (Gabapentin for Nerve Pain, Rehabilitative Medicine Research)

• Acorda Therapeutics - (Ampyra for Spinal Cord Injury, Myobloc for Muscle Spasticity)

• ReWalk Robotics - (ReWalk Personal 6.0 Exoskeleton, ReStore Soft Exosuit)

• Ekso Bionics - (EksoNR Neurorehabilitation Suit, EksoGT Exoskeleton)

• Sanofi - (Rilutek for Neurological Conditions, Multaq for Cardiac Health)

• Roche - (Ocrevus for Neurological Disorders, Rehabilitation R&D Programs)

• Novartis - (Gilenya for Spinal Cord Function, Zykadia for Symptom Relief)

• Merck & Co. - (Gabapentin for Neuropathic Pain, Pain Management Solutions)

• NeuroPace - (Responsive Neurostimulation System, VNS Therapy for Neuromodulation)

• Integra LifeSciences - (NeuraGen Nerve Guide, Camino ICP Monitor)

• Alnylam Pharmaceuticals - (Onpattro for Nerve Disorders, Lumasiran for Oxalate Reduction)

Recent Developments

On Sep 23, NeuroSolv Therapeutics partnered to accelerate clinical trials and regulatory approvals for Perineline, a promising treatment aimed at spinal cord injury recovery.

In July 2023, NeuroSolv Therapeutics, a leading healthcare and specialty pharmacy solutions company, announced a collaboration aimed at expanding clinical trial development and speeding up regulatory approval processes to enhance the chances of bringing Perineline to market.