Spinal Cord Injury Therapeutics Market Size, Share, Demand, Trends, Growth and Forecast Analysis 2023-2030
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| Spinal Cord Injury Therapeutics Market |
The global Spinal Cord Injury Therapeutics Market is estimated to be valued at US$ 7.4 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Spinal cord injuries disrupt communication between the brain and the body and impact mobility and bodily functions. Spinal cord injury therapeutics aim to treat spinal cord injuries through rehabilitation, cell therapy and medication in order to improve motor function, reduce pain and improve quality of life.
Market key trends:
One of the key trends in the spinal cord injury therapeutics market is growing preference for rehabilitation as a treatment option. Rehabilitation focuses on improving mobility through physical therapy, occupational therapy, counselling and other techniques. It aims to help patients regain motor skills and independence. Advances in rehabilitation techniques and assistive devices are improving treatment outcomes and quality of life for patients with spinal cord injuries.
Segment Analysis:
The global spinal cord injury therapeutics market is segmented based on product type, injury type and end-user. Based on product type, the market is segmented into neuroprotective & neuroregenerative drugs, biologics & stem cell therapy. The biologics & stem cell therapy segment dominates the market and is expected to grow at a higher rate during the forecast period. This is due to benefits offered by stem cell therapies such as low risk of rejection, immunomodulatory effect and ability to transdifferentiate into desired cell types.
Key Takeaways:
The global Spinal Cord Injury Therapeutics Market Trend is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing prevalence of spinal cord injuries and rising R&D investments.
Regional Analysis:
The US dominates the global market due to growing incidences of spinal cord injury and advanced healthcare facilities. The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to increasing healthcare spending and growing awareness.
Key Players:
Key players operating in the spinal cord injury therapeutics market are Teva Pharmaceutical Industries Ltd., AbbVie Inc, Pfizer Inc., Reddy's Laboratories Ltd, Zydus Cadila, ReNetX Bio, Inc, InVivo Therapeutics Holdings, Lineage Cell Therapeutics, Inc, Kringle Pharma, Inc., Acorda Therapeutics, Inc., Bioaxone Biosciences, Inc, RespireRx Pharmaceuticals Inc., NervGen, Rising Pharmaceuticals, Inc, ScieGen Pharmaceuticals, Inc, MSN Laboratories Private Limited, and Lannett Co Inc.
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