In 2022, the Global Quadriplegia Treatment Market is anticipated to be worth US$ 1,468.4 million. The global demand for quadriplegia therapy is anticipated to reach around US$ 2,324.4 Million by 2032, growing at a CAGR of 4.7% between 2022 and 2032.
The demand for quadriplegia treatment will progressively rise, which will provide manufacturers with numerous favourable development opportunities in the near future.
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Key Drivers of Quadriplegia Treatment Market
Quadriplegia, also known as tetraplegia, is a condition caused by spinal cord injury resulting from trauma at the base of the neck or skull. The spinal cord injury may be caused by accidents, tumors of the spinal cord, or other spinal cord diseases. Such injuries can lead to partial or total limb paralysis.
In the United States, it is estimated that approximately 17,810 new cases of spinal cord injuries occur every year, according to the 2020 Spinal Cord Injury Statistics data sheet. Some common causes of quadriplegia include stroke, vehicular accidents, falls, violence, sports, medical or surgical causes, and others.
The World Health Organization (WHO) reported in June 2021 that 20-50 million people suffer from road traffic accidents every year, leading to non-fatal injuries but permanent disabilities. With the increasing rate of road traffic accidents, the demand for quadriplegia treatment is expected to grow positively during the forecast period.
Recent technological advancements and various R&D activities in the field of quadriplegia treatment are expected to drive demand for this market in the coming years. Patients with spinal cord injuries are increasingly aware of various treatment options available to improve their quality of life, which will further propel the demand for various treatments for quadriplegia during the forecast market.
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Electrical Stimulation: Revolutionary Technique that Got Quadriplegic People Back on their Feet.
Electrical stimulators which were originally designed to treat chronic pain helped more than a dozen patients with quadriplegia to wiggle their toes, flex their legs or even walk with support.
This was a revolutionary technique which was conducted in the lab of University of Louisville in Kentucky. Electrical stimulation thus made promising and huge gains for people with paralysis wanting to regain their functionalities. The study was published in July 2019, after which thousands of patients have enrolled in the wait lists for the electrical stimulation technique.
US and Canada Quadriplegia Treatment: Regional Outlook
US and Canada region was found to be the largest market for the diagnosis and treatment of spinal cord injury (SCI). Increasing awareness and advanced technologies are the main drivers of this market. Most of the accidents found that alcohol was one of the most important factors; that is, approximately 25% of spinal cord injuries.
In the United States, the average annual medical cost for treating an acute spinal cord injury has been found to be in the range of $ 15,000 to $ 30,000 per year. All these factors are expected to drive the market growth of quadriplegia treatment market and offer lucrative opportunities for the providers.
Europe Quadriplegia Treatment: Regional Outlook
Europe was observed to be the second largest market, region wise for the quadriplegia treatment industry. Some of the factors contributing to this large market share are the presence of leading research institutes in the region for various neurological disease diagnosis and treatment. Increased awareness regarding various new technologies which help the quadriplegic patients lead a relatively normal life is also another key driver for this industry in Europe.
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Key player of Quadriplegia Treatment Market
Major manufacturers of medications needed to treat quadriplegia are
- Merck & Co.
- Sanofi Pharmaceuticals
- Baxter International
- Zydus Cadila
- GlaxoSmithKline
- AstraZeneca
- Cipla
- Johnson & Johnson
- Bristol Myers Squibb Co.
- Eli Lily & Co.
- Teva Pharmaceuticals
- Takeda Pharmaceutical Co Ltd
- Hoffmann La Roche
- Sun Pharmaceuticals.
In November 2020, Pfizer and Mylan announced the merger of Pfizer’s Upjohn generics unit and Mylan. This deal was a part of restructuring drive at Pfizer, which was aimed for stronger foothold in the innovative medicines division of the company.
Key Segments
By Treatment Type:
- Corticosteroids
- Non- Steroidal Anti-inflammatory Drugs (NSAIDs)
- Antidepressants
- Selective serotonin reuptake inhibitors (SSRIs)
- Serotonin and norepinephrine reuptake inhibitors (SNRIs)
- Anticonvulsants
- Narcotic Analgesics
- Antispasmodics & Muscle Relaxants
- Antibiotics
By Route of Administration:
- Oral
- Intravenous
- Others
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Stores?
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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