Dublin, Feb. 01, 2024 (GLOBE NEWSWIRE) -- The "Spinal Cord Trauma Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
The global market for the treatment of spinal cord trauma has experienced substantial growth from 2024 to 2031, and it is expected to maintain this upward trajectory. A comprehensive research report indicates the presence of a significant absolute dollar opportunity, along with an incremental opportunity between 2024 and 2031.
Challenges in the Middle East & Africa
One of the challenges affecting the growth of the spinal cord trauma treatment market in the Middle East & Africa is the limited number of specialized treatment centers. Spinal cord trauma is primarily treated in emergency units and trauma centers, but the region lacks sufficient access to these facilities. Limited availability of proper treatment facilities is hindering the market's growth, and individuals suffering from spinal cord trauma in Africa face higher risks due to restricted access to emergency healthcare.
Cost Barriers in the Asia-Pacific Region
Surgical procedures are the current standard for treating spinal cord injuries, but they do not cure the disorder; they only prevent its worsening. In the Asia-Pacific region, a significant portion of the population lacks healthcare insurance coverage, forcing patients to bear the cost of procedures themselves. The high expense of these procedures and their limited effectiveness are discouraging patients and their families from opting for surgical treatment, posing a challenge to market growth.
Rising Focus on Alternative Treatments in Europe
The treatment modalities currently used in Europe have limited therapeutic impact on improving the condition of patients with spinal cord trauma. Consequently, there is increasing investment in the development of alternative treatment modalities to provide better care and enhance patient outcomes. Research efforts are underway to explore options such as stem cell therapy and nerve regeneration therapy. The development of these therapies is expected to reduce the reliance on less effective treatment methods, thus hampering the growth of the traditional surgery market.
Ineffectiveness of Surgery in Latin America
In Latin American countries, financial considerations play a significant role in determining the preferred treatment approach for spinal cord trauma. Given that surgical procedures cannot completely cure the condition but only prevent its worsening, patients and their families may opt for alternatives when surgery is deemed ineffective. This ineffectiveness of spinal surgery in delivering the required cure is a factor limiting market growth in the region.
Availability of Alternative Treatments in North America
The most preferred treatments for spinal cord trauma in North America involve corticosteroids, spinal traction, and decompression surgical procedures. However, these procedures cannot reverse the damage to the spinal cord. To address this, various biopharmaceutical and medical devices companies in North America are developing alternative treatment options aimed at improving sensory function and treating damaged nerves. The availability of these alternative treatment modalities is expected to restrain the growth of the traditional spinal cord trauma treatment market.
Market Segmentation
By Treatment Type
- Corticosteroid
- Surgery
- Spinal Traction
By Injury Type
- Complete Spinal Cord Injuries
- Partial Spinal Cord Injuries
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
By End User
- Hospitals
- Trauma Centers
Companies Profiled
- Acorda Therapeutics, Inc.
- Asterias Biotherapeutics
- ReNetX Bio.
- BioArctic AB
- BioTime, Inc.
- InVivo Therapeutics
- Kringle Pharma, Inc.
- Novartis AG
- Pfizer Inc.
- Pharmicell Co. Ltd.
- Vertex Pharmaceuticals Inc.
- Bioaxone Biosciences, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ccbdqk
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