The Quadriplegia Treatment Market is expected to reach US$ 2.3 billion by 2032, according to a recent analysis. This growth is driven in part by the unfortunate rise in spinal cord injuries worldwide, often caused by traffic accidents. The overall demand for quadriplegia treatments is projected to grow at a steady CAGR of 4.7% from 2022 to 2032, reflecting a significant increase from the market value of US$ 1.4 billion in 2022. This highlights the growing need for effective treatments to help those living with quadriplegia.
The demand for quadriplegia treatment will progressively rise, which will provide manufacturers with numerous favorable development opportunities shortly.
Key Drivers of the Quadriplegia Treatment Market
Quadriplegia is caused by spinal cord injury which is caused due to trauma at the base of the neck or skull. Some of the common causes of quadriplegia, otherwise known as tetraplegia are paralysis after any accident, tumors of the spinal cord or other spinal cord diseases. The injury to the spinal cord may cause partial or total limb paralysis.
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According to the 2020 data sheet of Spinal Cord Injury Statistics, it was estimated that approximately 17,810 new cases of spinal cord injuries occur every year in the U.S. Some of the reasons for quadriplegia include stroke, vehicular accidents, falls, violence, sports, medical or surgical causes and others.
According to WHO statistics, published in June 2021, 20-50 million people suffer from road traffic accidents every year which lead to non-fatal injuries yet permanent disabilities to them. With the increasing rate of road traffic accidents, the demand for quadriplegia treatment is set to show positive growth over the forecast period.
Recent technological advancements and various R&D activities in the field of quadriplegia treatment are some of the leading causes that will boost the demand for this market in forthcoming years. There is an increased level of awareness amongst patients suffering from spinal cord injuries about various treatment options available to improve their quality of life. This is another factor that will propel the demand for various treatments for quadriplegia during the forecast market.
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 that was conducted in the lab of the 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.
Quadriplegia Treatment Market: Regional Outlook
U.S. 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 the quadriplegia treatment market and offer lucrative opportunities for the providers.
Quadriplegia Treatment Market: Regional Outlook
Europe was observed to be the second-largest market, region 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 diagnoses and treatment. Increased awareness regarding various new technologies that help quadriplegic patients lead a relatively normal life is also another key driver for this industry in Europe.
Key player 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 a restructuring drive at Pfizer, which was aimed at a stronger foothold in the innovative medicines division of the company.
Quadriplegia Treatment Market 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?
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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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