Acute Spinal Cord Injury Global Market Report 2024

The global acute spinal cord injury market has grown strongly in recent years. It will grow from $6.32 billion in 2023 to $6.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to rising incidence of acute spinal cord injuries, increasing awareness of acute spinal cord injury's and their treatment options, growing demand for personalized care, rising disposable income levels, increasing government spending on asci research and development.

The global acute spinal cord injury market is expected to see strong growth in the next few years. It will grow to $8.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to emerging therapies, telemedicine adoption, patient-centric care models, increasing focus on preventive healthcare and injury prevention. Major trends in the forecast period include medical advancements, rehabilitation techniques, neuroprotection therapies, psychosocial support, advocacy and accessibility.

The acute spinal cord injury market is poised for growth due to the increasing frequency of road accidents. Road accidents refer to incidents involving motor vehicle collisions that result in injuries or fatalities. These accidents can inflict harm on the central nervous system (CNS), disrupting the transmission of nerves essential for sensory and functional abilities. The force of impact during an accident can lead to trauma in the cervical, lumbar, or thoracic spine, potentially causing damage or severing the spinal cord and resulting in paralysis. For instance, in August 2022, data from the National Highway Traffic Safety Administration, a US government agency, revealed a 7% increase in traffic accident-related fatalities, with 9,560 individuals losing their lives in the first quarter of 2022 compared to 8,935 fatalities during the same period in 2021. Consequently, the upsurge in road accidents is a driving force behind the growth of the acute spinal cord injury market.

The growing number of clinical trials is expected to drive the expansion of the acute spinal cord injury market. Clinical trials play a vital role in advancing our knowledge and treatment options for Acute Spinal Cord Injury (SCI). These trials systematically investigate new therapies, treatments, or interventions to evaluate their safety and effectiveness in SCI patients. For example, as of May 17, 2023, ClinicalTrials.gov reported 452,604 globally registered clinical studies, with 64,838 actively seeking participants. This represents a significant increase from the approximately 365,000 registered trials in early 2021. Hence, the increasing number of clinical trials is a key factor fueling the growth of the acute spinal cord injury market.

The high cost of treatment is anticipated to impede the growth of the acute spinal cord injury market in the future. Treatment expenses can be a substantial financial burden for patients and their families, potentially limiting access to essential care. For example, data from July 2022, provided by the National Library of Medicine, a US-based biomedical library, indicates that the direct cost of treating spinal cord injuries can range from $290 to $612,590. Inpatient rehabilitation costs fall within a range of $19,360 to $443,040, while the first year post-injury can cost between $32,240 and $1,156,400. Consequently, the high cost of treatment remains a significant challenge in the acute spinal cord injury market.

Prominent companies operating in this space are dedicated to creating innovative medications to better serve their patients and maintain their market positions. The development of novel drugs, such as LYVISPAH, has the potential to improve treatment outcomes, particularly through combination therapy. For instance, in July 2022, Amneal Pharmaceuticals, a US-based pharmaceutical firm, introduced LYVISPAH, an FDA-approved baclofen oral granule available in 5 mg, 10 mg, and 20 mg doses. LYVISPAH is designed to treat spasticity associated with multiple sclerosis and other spinal cord disorders, addressing issues like flexor spasms, related pain, muscle rigidity, and spasticity. It offers flexible dosing options and is bioequivalent to oral baclofen tablets, potentially benefiting patients with spinal cord injuries and related conditions.

In February 2023, Globus Medical Inc., a US-based company specializing in musculoskeletal device solutions, completed the acquisition of NuVasive Inc. for $3.1 billion. This strategic move empowered Globus Medical to strengthen and expand its portfolio in musculoskeletal disorder devices, positioning it as a leading company in musculoskeletal technology. NuVasive Inc. is a US-based firm known for its development of medical devices and procedures for minimally invasive spinal cord surgery.

Major players 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.

North America was the largest region in the acute spinal cord injury market in 2023. The regions covered in acute spinal cord injury report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the acute spinal cord injury market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of acute spinal cord injuries are complete and incomplete injuries. A complete spinal cord injury signifies the total absence of sensory and motor capabilities below the level of the injury. Medical professionals typically employ laboratory tests and various imaging procedures within hospital and clinical settings to diagnose these injuries.

This report provides acute spinal cord injury market statistics, including acute spinal cord injury industry global market size, regional shares, competitors with a acute spinal cord injury market share, detailed acute spinal cord injury market segments, market trends and opportunities and any further data you may need to thrive in the acute spinal cord injury industry. This acute spinal cord injury market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The acute spinal cord injury market include revenues earned through entities by types such as complete spinal cord injury and incomplete spinal cord injury. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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