The Global Quadriplegia Treatment Market Size is expected to be worth US$ 1,468.4 million in 2022. The global market for Quadriplegia Treatment is expected to reach US$ 2,324.4 million by 2032, rising at a 4.7% CAGR between 2022 and 2032.
The need for Quadriplegia Treatment will gradually increase, providing manufacturers with various promising development opportunities in the near future.
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Key Drivers of Quadriplegia Treatment Market
Quadriplegia, often known as tetraplegia, is a spinal cord injury caused by trauma to the base of the neck or head. Accidents, spinal cord tumours, and other spinal cord disorders can all cause spinal cord injuries. Such injuries can result in limb paralysis, either partial or total.
According to the 2020 Spinal Cord Injury Statistics data sheet, it is predicted that around 17,810 new cases of spinal cord injuries occur in the United States each year. Stroke, vehicular accidents, falls, violence, sports, medical or surgical causes, and others are some of the most common causes of quadriplegia.
In June 2021, the World Health Organisation (WHO) claimed that 20-50 million individuals are injured in road traffic accidents each year, with non-fatal injuries but lasting disability. With the rising number of traffic accidents, demand for Quadriplegia Treatment is likely to rise during the predicted period.
In the next years, demand for this market is likely to be driven by recent technical developments and numerous R&D initiatives in the field of Quadriplegia Treatment. Patients with spinal cord injuries are becoming more aware of the numerous treatment options available to improve their quality of life, which will drive demand for various Quadriplegia Treatment 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?
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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