Spinal Cord Trauma Management Market Overview 2030
Spinal cord trauma is a damage to the spinal cord that causes temporary or permanent change in its functionality. Loss of muscle function, loss of sensation, or loss of autonomic functions are the symptoms of spinal cord trauma. Partial spinal cord injury and complete spinal cord injury are two different types of spinal cord trauma. This type of trauma can be caused due to car accidents, gunshot wounds, falls, or sports injuries. Moreover, infection, insufficient blood, or tumors can be the cause of spinal cord trauma. Rehabilitation such as surgery, physical therapy, and medication are used in treatment of spinal cord trauma.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the spinal cord trauma management market.
Top Impacting Factors
- Increase in cases of chronic disorders, rise in cases of car accidents across the globe, surge in popularity of sports, increase in incidence of patient suffering from spinal cord injuries, rise in geriatric population, and surge in demand for effective spinal cord management products are the major factors that drive the growth of spinal cord trauma management market.
- In addition, increase in investment on healthcare sectors, rise in adoption of modern medical facilities, surge in demand for novel spinal cord surgical procedures, rise in availability of skilled surgeons, increase in R & D activities for launch of approved spinal cord trauma management products, and strategic development by key market players such as joint ventures, collaboration, & mergers are some factors that boost the growth of spinal cord trauma management market.
- However, high cost associated with spinal cord trauma management products restrain the growth of spinal cord trauma management market.
- Contrarily, favourable reimbursement policies and support from government for regulatory approval present new pathways in the industry.
New Product Launches to Flourish the Market
In 2019, Boston Sceintific announced launch of Spectra WaveWriter spinal cord stimulators in Europe. This device can be used in chronic spinal cord injuries with the help of electric impulses. This device allows physicians and patients to customize their therapy.
In 2019, Nevro Corporation announced approval of Food and Drug Administration for launch of Senza Omnia Spinal Cord Stimulation System. This device help in treatment of spinal cord trauma and management of acute spinal cord pain.
Key Benefits of the Report
- This study presents the analytical depiction of spinal cord trauma management market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the spinal cord trauma management market share.
- The current market is quantitatively analyzed to highlight the spinal cord trauma management market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Spinal Cord Trauma Management Market Report
- Which are the leading players active in the spinal cord trauma management market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "spinal cord trauma management"?
- What is "spinal cord trauma management" market prediction in the future?
- Who are the leading global players in the "spinal cord trauma management" market?
- What are the current trends and predicted trends?
- What are the key benefits of the "spinal cord trauma management" market report?
Spinal Cord Trauma Management Market Report Highlights
By Treatment Type
By Injury Type
By End User
Key Market Players
InVivo Therapeutics Holdings Corporation, Kringle Pharma Inc., BioTime, Inc., BioArctic AB, Bioaxone Biosciences Inc., Vertex Pharmaceuticals Inc., ReNetX Bio, Asterias Biotherapeutics, Inc., Pharmicell Co., Ltd., Novartis AG, Pfizer, Inc., Acorda Therapeutics, Inc.