SPINAL CORD INJURY THERAPEUTICS MARKET ANALYSIS

Spinal Cord Injury Therapeutics MarketSize and Trends

The global spinal cord injury therapeutics market is estimated to be valued at US$ 7.4 billion in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030).

Figure 1. Global Spinal Cord Injury Therapeutics Market Share (%), By Indication, 2023

Global Spinal Cord Injury Therapeutics Market - Drivers

• Increasing incidence of orthopedic disorders and dysfunctions: The increasing incidences of orthopedic disorders and dysfunctions is expected to propel the growth of the global spinal cord injury therapeutics market over the forecast period. For instance, an article published in the National Center for Biotechnology Information (NCBI) Journal in September 2022 reported that the age-standardized point prevalence and annual incidence rates of orthopedic disorders and dysfunctions were 446.6 and 24.9 in 2021, which increased by 12.4% and 9.9% from 2010 around 7,522 cartilage restoration procedures which have been reported by the surgeons in the U.S.
• Robust pipeline for the treatment of spinal cord injuries: The robust product pipeline for the treatment of spinal cord injuries that are estimated to launch over the forecast period is expected to drive the growth of the global spinal cord injury therapeutics market. For instance, in July 2020, Kringle Pharma Inc., a late clinical-stage biopharmaceutical company, initiated a phase III clinical trial study of KP-100IT HGF protein for the treatment of patients suffering from acute spinal cord injury. The study completed on September 30, 2022. Furthermore, in June 2020, the U.S. Food and Drug Administration (FDA) granted breakthrough designation to Go-2 targeted epidural spinal stimulation system indicated to promote leg monitor.

Market Size

The global spinal cord injury therapeutics market report is segmented based on drug type, indication, application, route of administration, distribution channel, and region.

Global Spinal Cord Injury Therapeutics Market Segmentation:

The global spinal cord injury therapeutics market report is segmented based on drug type, indication, application, route of administration, distribution channel, and region.

• By drug type , the market is segmented into corticosteroids, muscle relaxants and anti-spastic drugs, non-steroidal anti-inflammatory drugs, anti-depressants, anticonvulsants, and others. Out of which, corticosteroids is expected to hold a dominant position in the global spinal cord injury therapeutics market during the forecast period owing to growing product approvals.
• By indication, the market is segmented into complete spinal cord injury and incomplete spinal cord injury. Out of which, complete spinal cord injury is expected to dominate the market over the forecast period, and this is attributed to increasing incidences associated with complete spinal cord injuries.
• By application, the market is segmented into autonomic dysreflexia (AD), spasticity and inflammation, pain management, and depression. Out of which, pain management is expected to dominate the market over the forecast period, and this is attributed to increasing approvals of drugs associated with pain management.
• By route of administration, the market is segmented into oral and intravenous. Out of which, oral is expected to dominate the market over the forecast period, and this is attributed to the maximum preference for oral administration of drugs associated with spinal cord injuries.
• By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Out of which, hospital pharmaies is expected to dominate the market over the forecast period owing to the growing number of prescriptions associated with spinal cord injuries.

Global Spinal Cord Injury Therapeutics Market - Cross Sectional Analysis:

Key players are making spinal cord injury therapeutics with advanced technologies in emerging economies, which is also expected to boost the demand for spinal cord injury therapeutics market in the North America region.

Global Spinal Cord Injury Therapeutics Market: Key Developments