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Acute Spinal Cord Injury Market Overview, Competitive Analysis, Key Trends And Outlook By 2033
Acute Spinal Cord Injury Market Analysis
The Business Research Company's Acute Spinal Cord Injury Global Market Report 2024 identifies increasing numbers of road accidents as the major driver for the acute spinal cord injury market's growth in the forecast period. A road accident refers to an incident involving the crashing of a motor vehicle that leads to wounding or severe fatality. Accidental spinal injuries can harm the central nervous system (CNS) and disrupt the passage of nerves required for function and sensory skills. The strength of an accident's impact can cause trauma to the cervical, lumbar, or thoracic spine, damaging or severing the spinal cord and causing paralysis.
The acute spinal cord injury market size has grown strongly in recent years. It will grow from $6.32 billion in 2023 to $6.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to rising incidence of acute spinal cord injuries, increasing awareness of acute spinal cord injury's and their treatment options, growing demand for personalized care, rising disposable income levels, increasing government spending on asci research and development.
The acute spinal cord injury market size is expected to see strong growth in the next few years. It will grow to $8.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to emerging therapies, telemedicine adoption, patient-centric care models, increasing focus on preventive healthcare and injury prevention. Major trends in the forecast period include medical advancements, rehabilitation techniques, neuroprotection therapies, psychosocial support, advocacy and accessibility.
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Major competitors in the acute spinal cord injury market are Pfizer Inc., AbbVie Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Biogen Inc., Vertex Pharmaceuticals Inc., Mitsubishi Tanabe Pharma Corporation.
A key trend in the acute spinal cord injury market includes innovation in precision treatment for unique medical needs . Major companies operating in the acute spinal cord injury market are focusing on developing innovative drugs to treat their customers and sustain their position in the market. The development of new drugs such as, LYVISPAH can improve treatment outcomes for patients with using combination therapy. For instance, in July 2022, Amneal Pharmaceuticals, a US-based pharmaceutical company, launched LYVISPAH, a baclofen oral granule (5, 10 and 20 mg) approved by the U.S. Food and Drug Administration (FDA) for the treatment of spasticity that is related to multiple sclerosis and other spinal cord disorders. LYVISPAH treats and relieves flexor spasms and associated pain, clones and muscular rigidity. It provides flexible, tailored dosage with single-dose packages of granules in doses of 5 mg, 10 mg and 20 mg and is bioequivalent to oral baclofen tablets. Patients with spinal cord injuries and other spinal cord diseases may also benefit from using LYVISPAH.
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The acute spinal cord injury market is segmented -
1) By Type: Complete Spinal Cord Injury, Incomplete Spinal Cord Injury
2) By Diagnosis Type: Laboratory Tests, Imaging Tests
3) By Application: Hospitals, Clinics
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the acute spinal cord injury market.
The Business Research Company's "Global Acute Spinal Cord Injury Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Acute Spinal Cord Injury Market Include:
1. Executive Summary
2. Acute Spinal Cord Injury Market Characteristics
3. Acute Spinal Cord Injury Market Trends And Strategies
4. Acute Spinal Cord Injury Market - Macro Economic Scenario
5. Global Acute Spinal Cord Injury Market Size and Growth
…….
32. Global Acute Spinal Cord Injury Market Competitive Benchmarking
33. Global Acute Spinal Cord Injury Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Acute Spinal Cord Injury Market
35. Acute Spinal Cord Injury Market Future Outlook and Potential Analysis
36. Appendix
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