Acute Spinal Cord Injury Market was Valued at USD 5,121 million in 2018, at a CAGR of 4.1%

Fri, 13 December 2019 10:15

Spinal cord injuries are the most medically complex and associated with a high mortality rate. Many factors can cause these injuries such as accident, fall, violent incidence, and sudden shock or cut to spine, among others. Advancements in the technology for the diagnosis of acute spinal injuries is likely to support the market growth during the launch of new and effective products. For instance, the SCI Researcher at the Spinal Cord Injury Research Facility at Auckland University received a grant of USD 100,000 to discover the possibilities of healing paralysis. The therapy involves inserting genes into damaged spinal cord tissues for enabling motor neurons to regrow and restore function.

Increasing Applications of Robot-Assisted Rehabilitation Technology

Currently, robotics and different electrical stimulations are the most researched approaches for rehabilitation. These technologies are expected to play a key role in the future of SCI rehabilitation by enabling the patients to achieve maximum movements. Robotics has become valuable in the rehabilitation of spinal cord injury and many organizations offer these services with the objective to increase the mobility of patients. For instance, the UPMC Rehabilitation Institute’s Robotics and Gaming Center offers many technologies such as Lokomat and GameCycle.

Increasing Medical Tourism for Post Spinal Surgery Rehabilitation

After spine surgery, post-operative rehabilitation can cost a huge sum from patients. However, advancements in the healthcare infrastructure, introduction of low-cost procedures, and favorable government’s policies for affordable healthcare have facilitated growth in several developing countries. This, in turn, is flourishing the medical tourism in many Asian countries such as China, India, and Thailand, among others. According to the International Healthcare Research Center (IHRC), medical tourism is expected to grow by 14% annually in Thailand due to huge arrival of international tourists. Apart from this, countries like India are expected to witness huge growth in the coming years as result of strengthening healthcare infrastructure, availability of skilled healthcare professionals, and rising penetration insurance and awareness about health.

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Medical tourism is driving the growth of the market in Asia Pacific

The number of trauma injuries is increasing worldwide, especially in developing countries such as India, China and others. Most of the population in India suffer from SCI due to speed violation, no use of helmets, and violation of traffic rules, alcohol consumption, and poor road infrastructure. As per the World Health Organization (WHO), India accounts for the highest number of deaths due to road traffic accidents. It has been estimated that over 375 deaths and 1200 injuries happen per day due to road accidents. Additionally, in China, every year, around 260,000 people die from road accidents and over 78,000 people suffer from spinal cord injury, WHO. As per WHO report, alcohol is the major factor in road accidents leading to spinal cord injuries. Drinking is considered as social ritual in china, which has led to increase in cases of drunk driving and ignorance of road regulations in the region. As per WHO, around 90% of spinal cord injuries occurs due to road accidents, violence and falls worldwide. Falls is one of the leading causes of spinal cord injury, accounting for around 40% of cases in the South-East Asia and Eastern Mediterranean regions. In addition, increasing low-cost options and awareness regarding these alternatives are propelling the growth of the market. Southeast Asia has some of the best world’s medical institutions.

Key Players

Some of the prominent players in the market are Histocell, Mitsubishi Tanabe Pharma Corporation, Neuralstem, Inc., Acorda Therapeutics, Inc., Pfizer, BioAxone, BIOTIME, INC.

Acute Spinal Cord Injury Market Segmentation

 By Type

  • Diagnosis
  • Treatment

By Diagnosis Type

  • Laboratory Tests
  • Imaging Tests

By End User

  • Hospitals & Clinics
  • Ambulatory centers
  • Others

Regions Covered

America

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America

Europe

  • Western Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Eastern Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia-Pacific

Middle East

  • Saudi Arabia
  • UAE
  • Qatar
  • Rest of The Middle East

Africa

  • South Africa
  • Ghana
  • Nigeria

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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